Jesse's Café Américain Tue 2009-12-01 10:06 EST
Morgan Stanley Fears UK Default in 2010
As you may recall we are bears on sterling, and view the UK as the Iceland of the G20.The monetary policies of the Bank of England were as bad as those of the Greenspan - Bernanke Fed. The difference is that the UK does not hold the world's reserve currency as a captive source of revenues. As an aside, we see that Bank of England advisor and economic franc-tireur Willem Buiter has decided to seek greener pastures as chief economist with Citi in the States. Timely exit. Bravo, Willem.
2010; Jesse's Café Américain; Morgan Stanley Fears UK Default.