Sunday, February 24, 2013

Downgrade pressures reluctant Osborne to change course

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Downgrade pressures reluctant Osborne to change course

LONDON (Reuters) – Chancellor George Osborne said he would not flinch from his austerity drive, despite increasing pressure to change course after the loss of the country’s ‘AAA’ credit rating and with elections approaching in two years. Moody’s dealt Britain its first sovereign rating downgrade on Friday, saying the $2.5 trillion economy faced years more sluggish growth and debt would continue to rise until 2016

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Downgrade pressures reluctant Osborne to change course

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