FX.co ★ Weak euro threatens the strong UK

Governor of the Central Bank of England Sir Mervyn King announced the ground for the British economy stagnation. The main problem that does not allow the country to get through the crisis and achieve the adequate economic indicators is a weak euro. According to the experts of Great Britain, it is the main obstacle to the economic recovery.
Mervyn King said that the mistaken forecasting of the EU provoked the economy recession. To resolve this problem, is necessary to develop an economic recovery plan that would suit the current situation and to stabilize the fiscal policy. The reason why the economy is rebounding at a slow pace consists in the world market, not in the domestic one.
The Governor also expects the North Sea oil production to be restored in the near future.
Previously, at the Parliament meeting, the Conservative Party demanded to hold a referendum on the UK removal from the EU.