“Sterling has devalued rapidly against the euro and the dollar. We are in danger, if the Government is not careful, of having a proper sterling collapse, a run on the pound. The danger of a run on the pound . . . is that it pushes up long-term interest rates, which is a huge burden on the economy. The more you borrow as a government the more you have to sell that debt and the less attractive your currency seems.”
True or False or Spin?
The society we live in is changing.
Brown blames the collapse of loans in the sub prime, but we are in this mess because governments have made wrong choices, particularly Brown's Britain........