Thursday, May 17, 2012

Observations on Eurozone Crisis from London

Reportedly, Britain's PM David Cameron has said that the Eurozone is facing the possibility of breaking up. Britain's economy is reported to have also been 'adversely affected by the disorder in its neighbors in Europe although it is not a member of the Eurozone. However, 'there is the observation within Britain that its own economic downturn has its domestic causes which include the drop of global competitiveness and over-spending in military committments in Afghanistan and Iraq. How to keep its global power and influence without over-spending on the military has been a big problem for Britain since the end of WW1.