Bank of England expects UK to fall into longest ever recession

Re:Bank of England expects UK to fall into longest ever rece... by kergonath on Thursday November 03, 2022 @04:45PM (#33457251)

The UK is in a very, very bad situation. Just look at the crisis management being done at the Bank of England compared to the ECB. Inflation affects the whole of Europe, yes, but other countries do not have anything like the cost of living crisis in the UK. And the recession is also much worse in the UK in general (some specific EU countries fare better or worse on some specific aspects, of course). None of these countries are talking about austerity right now.

[ Parent | on HN ]

Re:Bank of England expects UK to fall into longest ever rece... by chrisco255 on Thursday November 03, 2022 @04:55PM (#33457378)

I would reserve judgment for a couple of years. I would not bet on the EU as faring any better in the long run.

[ Parent | on HN ]

Re:Bank of England expects UK to fall into longest ever rece... by kergonath on Thursday November 03, 2022 @05:47PM (#33458215)

I hope so, and I don’t wish any harm to my British friends (well, I hope everyone will be ok, I certainly don’t wish any harm to my fellow Europeans on the continent either).

But there are many reasons why the EU could fare better over the long term. More people (and a bigger unified internal market), more land (and natural resources), more industry, for a start. The thing with the UK is that a lot of that is self inflicted and mind bogglingly stupid. Why are the conservatives still in power? The whole political system is holding the country back.

[ Parent | on HN ]

Re:Bank of England expects UK to fall into longest ever rece... by d1sxeyes on Thursday November 03, 2022 @05:59PM (#33458407)

The interest rate in Hungary is 13%.

[ Parent | on HN ]