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Pressure Mounting on the British Pound

The UK economy is in a tough spot … it’s the only major economy that has yet to emerge from recession. It’s running the largest budget deficit of any industrialized country. And its central bank has thrown everything, including the kitchen sink at the problems trying to stimulate economic activity. While the U.S. and the Eurozone are talking exit plans for extraordinary stimulus, the UK has re-upped its asset purchase program, twice . And major UK banks have been nationalized by the government, recently requiring even more cash injections. The British political leadership is under fire for leading the country into its longest,…
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