Economy

Jan 29, 2013

Forget the PIGS, it’s the UK really infecting Europe

Australia's dollar is holding steady amid better news out of Europe. But the real worry now is Britain, where a return to recession is now a dangerously real possibility.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

Financial markets are full of boom and zoom talk at the moment; if it’s not Japan trying to inflate itself out of a deflationary swamp by spending more money it doesn’t have, it’s the US edging away from the fiscal cliff, or the cost of Italian and Spanish debt falling to more sustainable levels as the eurozone grows more confident it has escaped a bullet for a third year in a row.

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