After nine months of somber economic news, and billions of dollars having been pumped into the global economy, G8 ministers have reported growing consumer confidence and stock market rises. And, now, even the value of the pound is rising!
In a BBC interview, Nobel prize-winner for economics (2008), Paul Krugman, said that the earlier devaluation of the pound may have actually helped the UK economy. He says that governmental policies have been instrumental in stablising the British banking system.
“I think the UK economy looks the best in Europe at the moment.” – Paul Krugman, leading economist
Krugman went on to say that the government’s economic policies have been ‘pretty good’ and ‘intelligent’; and that, as long as Labour can resist an election this year, they may be credited for the recovering economy.