Finally, after days of sitting in limbo, Britain has a new Prime Minister and a new ruling party. What does it mean for the United Kingdom exchange traded fund (ETF), the broader situation in Europe and Britain’s own struggling economy?
Greece’s budget deficit gets all the attention, but Britain’s may actually be just as bad.
The latest numbers are out on the EU’s Spring economic forecast of its 27 member countries. Britain’s budget deficit has risen to about 12% of GDP and is now the largest in the European Union, reports XinhuaNet. Alleviating this debt will be the biggest and most important challenge of the new government. [U.K. ETF Set for a Spill?]