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FORMER Chancellor Alistair Darling has told media channels that politicians in the Eurozone are standing back while the world slides on the brink of another global recession.
His comments come as Chancellor George Osborne and some of his European counterparts have given struggling EU economies six weeks to properly tackle their debt problems.
Darling’s comments also
appear to put a damp squib on the current Labour leadership’s opinion that the
The coalition has always
insisted cutting the
Labour leader Ed Miliband and
Shadow Chancellor Ed Balls claim that the coalition are prepared to risk high
unemployment, which now stands at 2.5 million, by cutting the public sector, in
order to balance the UK’s finances. But so far the private sector hasn’t been delivering
the type of growth
Nick Clegg said at the Lib Dem Party conference in the week that this slow growth wouldn’t last forever.
Balls has proposed that the Chancellor Osborne should cut VAT to boost consumer spending.
Much was wrote in Darling’s memoirs about his long-standing battles over the economic way ahead with the former PM Gordon Brown – who has so far cutely bottled out of the public limelight when it comes to the economy.
Darling claimed he was
arm-wrestled into following Gordon over
Economists claim it is inevitable that the global economy will fall back into a recession.
What politicians should try to do they say is prevent the crisis from falling from a recession into a depression like the 1930s.
Darling in his comments also said that this was very current, and not 30 years ago and needed tackling now.
Yesterday the IMF chief Christine Lagarde more or less echoed Darling’s comments.
But she also said that there was a path to recovery, but global politicians needed a nudge in the right direction.
It comes also as