Tough economy could see debt worries heighten

Mon, 19 Sep 2011

worries across the UK could be exacerbated by troubles facing the wider economy .

Michael Baxter, author of the Blindfolded Masochist, has claimed the financial climate is looking uncertain for the foreseeable future.

The industry figure explained the economy has a very rough time ahead, with countries around the globe being affected by such concerns.

When questioned whether falling into another economic downturn could be a significant possibility, Mr Baxter remarked: "Yes I think the one fact that could stop that from occurring is that for there to be a recession, output has to fall and output is already very low."

He noted that given such movement is currently diminished, it would be particularly worrying should the UK once again fall into recession.

His comments came after recent findings from the Organisation for Economic Cooperation and Development showed financial recovery in major industrialised societies appears to have ground to a halt.
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