December 3, 2013
WHEN DOES ENGLAND EVER NOT CAST FRANCE IN AN UNFLATTERING LIGHT?:
UK revival leaves envious eurozone in shade (FT Reporters, 12/02/13, Financial Times)
The UK economic revival has taken almost everyone by surprise, confounding domestic and international forecasting groups. Having failed to predict the turn, most explain the sudden resurgence as a rebounding of confidence linked to the removal of previous impediments to growth, such as weak banks and fears of a eurozone crisis.Some economists believe the UK will be the world's fastest growing developed economy over the next five years. This is a tempting prospect for foreign corporates and investors, but they are weighing up potential opportunities against the political uncertainty of an EU referendum, as the coalition government staggers from one populist measure to another.In France, traditionally the third biggest source of foreign direct investment for the UK, Britain is regarded as a success story that casts an unflattering light on French malaise.
So austerity worked.Posted by Orrin Judd at December 3, 2013 4:42 AM