Britain risks losing AAA tag as growth outlook worsens

A worsening growth outlook threatens (Britain’s) fiscal goals,said Nick Stamenkovic,macro strategist at RIA Capital Markets in Edinburgh.

Written by Reuters | London | Published: July 27, 2012 1:09:33 am

Britain has about a one in three chance of losing its AAA sovereign credit rating,a Reuters poll found on Thursday,a move that would put huge pressure on finance minister George Osborne who is sticking with austerity even as the recession deepens.

A worsening growth outlook threatens (Britain’s) fiscal goals,said Nick Stamenkovic,macro strategist at RIA Capital Markets in Edinburgh. The risk of losing AAA status is rising.

The poll of over 60 economists was taken after news on Wednesday that the economy contracted by 0.7 per cent in the second quarter,deeper than even the most pessimistic forecast,and shrinking faster than the ailing euro zone.

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