Chancellor of the UK exchequer Darling warns on economic recovery

Alistair Darling warned on Thursday Britain’s economic recovery could be held back by rising oil prices and a failure by other European countries to clean up their banks.

Describing himself as “confident but also cautious” over the prospects for the economy, the chancellor of the exchequer has been buoyed by recent economic forecasts suggesting the UK is moving out of recession. But he will warn at a G8 meeting in Italy this weekend there are still clouds on the horizon.

The chancellor suggested some European countries had been turning a blind eye to the problems in their banks and had failed to follow Britain’s lead in identifying toxic assets and recapitalising institutions.

“If there is a problem it doesn’t get any better by walking around it and hoping it will go away,” he told the Financial Times in an interview.

http://www.ft.com/cms/s/0/3c42c10a-56ca-11de-9a1c-00144feabdc0.html

Warning ? Come on Alistair, GBP at 1,6500. Everything just fine...

 

an exchange rate is not a measure of anything than of supply and demand in that curr.

 

BNP Paribas's Redeker Says Pound May Rally Up to $1.72



http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/vv__DKI3au74.asf

 

He also said he was buying the dollar on euro weakness at 1.30...

Although I must admit I don't have his real trackrecord here with me....