Ahead of UK losing its AAA credit rating, it will still continue with strict austerity measures to offset this waning sentiment.
“For we’ve had a stark reminder this weekend of the single most important truth about our economy — Britain has a debt problem, built up over many years, and we have got to deal with it.”
UK didn’t take the situation smartly when they were in good times before the big crash and following hazards in 2008. They chose to increase there deficit, by increasing spending, borrowing, and growing a lazy attitude when times were good. Because of that it’s now struggling to make means, and becoming more and more like Greece and Portugal who have said goodbye to their financial dignities.
Right now, its all up to Germany and Switzerland, the two ongoing strongholds, to help keep Europe’s reputation in the eyes of sanity. Hopefully UK and other European countries ,like Spain and Greece, will follow in wake to make Europe shine again!