French Economy Minister Bruno Le Maire said on Friday he was “concerned” about Britain’s economic situation after the announcement of the Conservative Liz Truss government’s costly budget plan, which pushed up rates and the book.
Estimated by economists at between £100bn and £200bn, last week’s announcements by the British government, whose funding and impact remain unclear and unquantified, have thrown markets into disarray.
“Europe protects us”
The pound fell to a record low of $1.0350 on Monday. The interest rates at which the British State borrows have skyrocketed. In an attempt to calm the storm, citing “real risks to financial stability”, the British central bank was forced to intervene in the markets, two days after assuring that it would not act until its next meeting in early November.
In addition, “leaving Europe has a considerable cost”, because “Europe is a protection”, he added.
Source: BFM TV
