singular_me
31st January 2015, 12:26 PM
world debt-clap-trap reading to clap.
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Bank of England chief 'delusional' to claim UK escaped debt trap - economist
Published time: January 29, 2015
Mark Carney’s claim that Britain has escaped a “debt trap” common to Eurozone states has been dismissed by UK economist Michael Burke as “delusional.” Burke says Britain’s debt has merely been transferred from private firms to UK homeowners.
Speaking at a conference in Dublin on Wednesday, Mark Carney, Governor of the Bank of England (BoE), said all major advanced economies have experienced a debt trap since the 2008 financial crisis.
He suggested states’ debt burdens had been exacerbated by low levels of growth and the private sector’s tendency to cut spending in difficult economic times.’
“Mark Carney is delusional if he thinks Britain and the US have found a way out of the debt trap,” Burke told RT.
“They have transferred debt, from companies to households. Household debt in both countries is among the highest in the world.”
‘Struggling Eurozone states need debt forgiveness’
Speaking in Dublin, Carney sharply criticized austerity policies common to the Eurozone states, warning the single-currency area was constrained by strangulating levels of debt that could plunge it into years of stagnation.
Carney argued the Eurozone needs to soften its budgetary policies and follow a swift path toward fiscal integration. He said a fiscal union would aid in the transfer of resources from wealthy to poorer nations.
more
http://rt.com/uk/227443-debt-trap-eurozone-britain/
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Strong words from BOE Governor Mark Carney as he attacks eurozone austerity, saying bloc is caught in a debt trap
http://www.theguardian.com/business/2015/jan/28/bank-england-governor-attacks-eurozone-austerity
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Bank of England chief 'delusional' to claim UK escaped debt trap - economist
Published time: January 29, 2015
Mark Carney’s claim that Britain has escaped a “debt trap” common to Eurozone states has been dismissed by UK economist Michael Burke as “delusional.” Burke says Britain’s debt has merely been transferred from private firms to UK homeowners.
Speaking at a conference in Dublin on Wednesday, Mark Carney, Governor of the Bank of England (BoE), said all major advanced economies have experienced a debt trap since the 2008 financial crisis.
He suggested states’ debt burdens had been exacerbated by low levels of growth and the private sector’s tendency to cut spending in difficult economic times.’
“Mark Carney is delusional if he thinks Britain and the US have found a way out of the debt trap,” Burke told RT.
“They have transferred debt, from companies to households. Household debt in both countries is among the highest in the world.”
‘Struggling Eurozone states need debt forgiveness’
Speaking in Dublin, Carney sharply criticized austerity policies common to the Eurozone states, warning the single-currency area was constrained by strangulating levels of debt that could plunge it into years of stagnation.
Carney argued the Eurozone needs to soften its budgetary policies and follow a swift path toward fiscal integration. He said a fiscal union would aid in the transfer of resources from wealthy to poorer nations.
more
http://rt.com/uk/227443-debt-trap-eurozone-britain/
-------------------------
Strong words from BOE Governor Mark Carney as he attacks eurozone austerity, saying bloc is caught in a debt trap
http://www.theguardian.com/business/2015/jan/28/bank-england-governor-attacks-eurozone-austerity
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