Ian Campbell taught English at the Université de Poitiers before studying economics. He was Chief Economist, Emerging Markets at ABN AMRO Bank, Head of Latin American Research at BancBoston Securities and Regional Director, Latin America at the Economist Intelligence Unit. Since becoming a journalist in 2000 he has written for The Washington Post, The Times, The Independent, The Economist, The Globe and Mail, The Chicago Tribune, The New Statesman and other publications. From 2000 to 2003 he was Economics Correspondent for the UPI press agency. He has recently returned to the UK, where he is writing a book on rural Mexico.
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Even the UK is succumbing, although its 1.2 percent rate remains high by European standards. Trends in France, Spain and Italy are all weak. With prices almost flat, wage rises will be poor and government finances will stay strained. A BoE rise may not come until 2016.
For years, the International Monetary Fund slammed British austerity. The condemnation of budget cuts turned out to be wrong. Now the IMF is giving the UK the thumbs-up. That could soon be another blot on its record. The signs point to growth starting to slow.
The UK prime minister crowed when opposition leader Ed Miliband forgot the deficit in a keynote speech. Yet David Cameron has gone further, insisting on the need to tackle the country’s biggest problem and then pledging a tax giveaway. It’s an electoral bribe he can’t afford.
- Welfare cuts betray UK’s lingering weakness
- UK torn between populism and fiscal reality
- Double-digit oil promises lubrication not seizure
- Gold’s geopolitical ledge won't hold up
- UK rates may not rise till 2016 – or later
- Flight to safety is liable to persist
- Interest rates may stay low in Freelance Britain