Financial safety/ Criticizing austerity policies
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.
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