Warning over UK economy sees pound and FTSE take a dive

Daily Mail – The pound fell against the dollar and the euro today after rating agency Moody’s described the British economy as weaker than Germany and France.A report today said Britain and the U.S. had ‘resilient’ AAA ratings, as opposed to the ‘resistant’ top ratings of Canada, Germany and France, mainly because of the dreadful state of the public finances in Britain and the United Sates. Alistair Darling said yesterday the economy remains too fragile to take more steps to repair the deficit this year. Read Article

Tags: 2nd Great Depression, Europe, financial system, national debt