There is an element of truth in what you call hyperbole.
Gordon Brown (in the treasury) produced a report to see how UK could integrate with the EU. The output was basically that the UK economy is not flexible enough.
A very large portion of the UK's GDP is based on housing and housing services. The amount of debt on UK housing is astronomical.
Gordon Brown (in the treasury) produced a report to see how UK could integrate with the EU. The output was basically that the UK economy is not flexible enough.
A very large portion of the UK's GDP is based on housing and housing services. The amount of debt on UK housing is astronomical.
http://news.bbc.co.uk/2/shared/spl/hi/europe/03/euro/pdf/fin... Page 55 onwards
"mortgage debt 60% of gdp"
http://www.ft.com/fastft/309012/how-would-uk-housing-correct...
http://www.imf.org/external/np/ms/2001/121101.htm
https://en.wikipedia.org/wiki/Five_economic_tests