The IMF Warns That A New PIIGS Crisis Could Sink The UK Recovery


The U.K. is massively exposed to the debt of nations such as Spain, Greece, and Ireland, according to The International Monetary Fund (IMF).

Here’s why what happens to the Eurozone doesn’t stay in the Eurozone:


The IMF said banks could be hit by further woes in troubled countries such as Greece, Ireland and Spain – with UK bank loans to these eurozone members accounting for about 14 per cent of gross domestic product.

The result is that any crisis would leave the U.K.’s recovery ‘highly vulnerable’ says the fund.

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