Hair of the dog risks a bigger British hangover

The credit engine in the UK is spluttering back to life, but could result in a bigger expansion in leverage than ever before. This is what caused the crisis in the first place.

Does the UK have a sensible strategy for recovery? Just recall: the last time it tried the credit-expansion route to growth, it ended up in a huge financial crisis. Why should it rationally expect a different outcome this time?


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