Downing Street Says » International Monetary Fund (IMF)

» Monday, July 16, 2012

International Monetary Fund (IMF)

Asked if he had any comments on the IMF report, the Prime Minister’s Spokesman (PMOS) said that the Euro area was the UK’s largest trading partner and we were feeling the effects of what was happening in the Eurozone in our economy.

Asked why the UK had been given the sharpest downgrade in the report, the PMOS said that there had been downward revisions across the board. A recession was being predicted in the Euro area and that would affect the UK economy.

Asked if Ernst and Young had got it wrong when they had said that the squeeze was over, the PMOS said that there always different views when it came to forecasting the economy.

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