Megan Greene on the UK’s Recent Market Turmoil and What it Means for the Future of the Global Economy
Macro Musings with David Beckworth
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Is the UK Government Out of Fiscal Space?
There wasn't a concern that the UK is turning into an emerging market style sovereign debt crisis. The scale of the unfunded tax liabilities and the utter absence of any kind of plan to reduce the UK's debt stop going forward or its deficit, I think there were concerns that this government was just going to be fiscally irresponsible. So risk management there, even though they may have been some potentially bad outcomes,. It was a one off thing. In terms of risk management, it was the right decision.
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