Alistair Darling has today warned his fellow G20 members that complacency in the fight against the worldwide recession is a very dangerous fact of life. He believes that if the various stimulus packages introduced by governments around the world are withdrawn too soon this will push the worldwide economy back into recession and could undo all of the hard work which has been carried out over the last few months.
This comes at a time when the UK government has agreed to increase its own UK quantitative easing fund amid signs that the UK economy is maybe not respond as quickly as many had hoped. Whether this is the same situation with other economies around the world remains to be seen but the UK does seem to be lagging somewhat behind the likes of Germany, France and Japan. Will fellow G20 members support Alistair Darling?
The signs over the last few days have not been good for the UK government with the $1 trillion worldwide stimulus package on the verge of collapse, European partners distancing themselves from the UK and UK national debt now well over 1 trillion. Will the U.K.’s international partners come to its aid? How can the UK government afford this spend, spend, spend strategy?
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