IMF cuts growth forecasts: reaction

“It is welcome that the IMF have forecast that the UK will grow more strongly
than Germany, France and the Eurozone as next year, but it is clear that the
UK is not immune to what is going on in our biggest export markets, with
every major economy seeing lower forecasts for growth this year and next.

“The Government remains committed to implementing the deficit reduction plan
which has delivered stability, a policy stance the Christine Lagarde
described as ‘appropriate’ earlier this month.”

Ed Balls, Shadow Chancellor:

“These are deeply concerning forecasts for both the UK and world economy. Our
Chancellor and political leaders in Europe need to wake up to the scale of
the problem and finally realise that we need economic growth and more people
in work to really get deficits down.”

Max Johnson, forex broker at Currency Solutions:

“The eurozone and single currency will surely dominate the IMF agenda in
Washington this week, along with the downgrade of Italian sovereign debt.

“The eurozone has essentially become a noose around global economy’s neck. And
one that’s getting tighter by the day.”

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