Why a double dip could leave us in the same mess as Japan

21st July 2010

While all eyes are on Japan's new Prime Minister, Naoto Kan, to see whether he can drag the country out of recession, one leading economist says the UK coud be heading into the same downward spiral if a double dip recession occurs.

And the UK is not alone; with the Eurozone and the US in a similar position.

Keith Wade, Chief Economist and strategist at Schroders says we could end up in real difficulty if the threatened double dip recession happens, not least because we have exhausted our reserves. 

No rescue

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