It is dishonest in the extreme for our MP Mark Garnier to claim our economy was in a worst state than Greece’s in 2010.
Greece had already been bailed out by the time the coalition came to power and he states that our debt was higher than Greece’s, which is completely untrue.
Our national debt was 60-65 per cent of GDP whereas Greece’s was well in excess of 120 per cent of GDP.
Other points worth noting are:- 1. Greece was in a very deep recession whereas the UK was growing when the coalition came to power.
2. In April 2010 Greek government bonds had been downgraded to junk status – we had no problem servicing our debt.
3. Inflation in Greece was 5.2 per cent. in the UK it was 3.2 per cent.
4. Unemployment in Greece was 12.7 per cent. In the UK it was 7.8 per cent.
5. We did have a great advantage of not being in the euro because Gordon Brown had decided not to join it Derek Moses Herne’s Nest Bewdley
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