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UK Gilts T*rds getting closer to the fan

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"Rene Defossez from France’s Natixis said Britain looks vulnerable on multiple fronts, not helped by talk of European Union exit. Public debt will reach 110pc of GDP by 2016. The current account deficit is deteriorating. The country is stuck in a vicious circle as a high “fiscal multiplier” prevents budget cuts from making a dent on the deficit. "


Is it posible for the UK to pull out of the nose dive or will it crash and burn like Greece?

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BBC excerpt;



"UK loses top AAA credit rating for first time since 1978




The UK has lost its top AAA credit rating for the first time since 1978 on expectations that growth will "remain sluggish over the next few years".

The ratings agency Moody's became the first to cut the UK from its highest rating, to Aa1.


Moody's said the government's debt reduction programme faced significant "challenges" ahead.


Chancellor George Osborne said the decision was "a stark reminder of the debt problems facing our country".


"Far from weakening our resolve to deliver our economic recovery plan, this decision redoubles it," he added. "We will go on delivering the plan that has cut the deficit by a quarter."


But the BBC's political editor Nick Robinson said Mr Osborne now risks being dubbed the "downgrade chancellor".


"Worse could follow if the Budget shows borrowing rising... but for most people, what will matter is not credit ratings or statistics but higher fuel, food and other prices and if interest rates go up," he added.


The UK has had a top AAA credit rating since 1978 from both Moody's and S&P.


Shadow chancellor Ed Balls said the decision was a "humiliating blow to a prime minister and chancellor who said keeping our AAA rating was the test of their economic and political credibility".


'Increasing clarity'


In announcing the ratings cut, Moody's cited the "challenges that subdued medium-term growth prospects pose to the government's fiscal consolidation programme, which will now extend well into the next parliament".


It added that the UK's huge debts were unlikely to reverse until 2016"



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It's no wonder so much is going wrong in the UK when you read news like this;




"NHS foreign doctors must speak English, say ministers



Foreign doctors wanting to treat NHS patients in England will have to prove they have the necessary English skills, the government has confirmed.


Concerns were raised after a German doctor, Dr Daniel Ubani, gave a patient a fatal overdose on his first and only shift in the UK.


He had earlier been rejected for work because of poor English skills.


From April there will be a legal duty to ensure a doctor's English is up to scratch before they are employed.


Foreign doctors will have to prove they can speak a "necessary level of English" before they are allowed to treat patients in hospitals or in GP surgeries, the Department of Health said.


Dr Ubani had been refused work by Leeds Primary Care Trust, but was later employed in Cambridgeshire.


From April, there will be a national list of GPs to prevent doctors being rejected in one part of the country and then cropping up somewhere else. GPs will have to prove their language skills before being put on the list.


Health minister Dr Dan Poulter said the measures were about protecting patients, who "should be able to understand and be understood by their doctor if we are to give them the best care they deserve".


"These new checks will ensure that all doctors who want to work in the NHS can speak proficient English and to prevent those who can't from treating patients," he said."






You mean NHS trusts weren't ALREADY checking if doctors from foreign countries could speak english BEFORE being employed...


Oh my god.

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