United Kingdom Economic Situation

The financial crisis in America had spread to Europe. Banks in the UK bear the greatest impact from the credit crisis sub-prime housing loans in the U.S. For example, Northern Rock Bank had a bad debt account of up to 191.6 billion U.S. dollars in July 2008 and the Bank of England had to pump 27 billion pounds to rescue Northern Rock Bank. At the end of September 2008, there were some other big banks in Europe such as Dexia and Hypo Real Estate falling in the crisis and these banks were rescured by the governements throught financial bailout. (Alexander, 2008)

After the stock market crashed millions of people lost all their money and savings. This crisis lasted for about a decade.

The issue of whether or not the United Kingdom should remain a member of the European Union has been debated heavily over the past decade, with the debate heating up even more from the current European Sovereign Debt Crisis. Recent polls of the UK population showed that around half of the UK’s citizens would vote to pull out of the EU if it went to referendum. However, after all of the economic, political, and social advantages of being a member of the EU are considered, it remains clear that leaving the EU is not in the UK’s best interest. Economically, it does not make sense for the UK

In 2007, the United States economy experienced a financial crisis known as the Great Recession, which affected much of the world. It officially lasted from December 2007 to June 2009 and all began with the bursting of an 8 trillion dollar housing bubble. A volatile mixture of financial market chaos -triggered by the housing bubble- and low consumer spending left millions of Americans wondering about their economic fate, the fate of their neighbors, and the fate of the nation.

Public debt comes in at 46.8% of GDP. Regarding labor force, most of it consists of “industry at 21.1%, services at 75.3% and and agriculture at a low” (CIA, 2017). Unemployment rates at the country had increased slightly during the 2015 - 2016 year than previous years; with 2016 rounding a little higher.

While the contributions of all member-states in the EU have been important and appreciated, the UK has brought a lot to the table that many other countries couldn’t. For example, the UK’s influence and the weight of just its name. For hundreds of years the UK has been powerful and if it had something to say, the world would listen. When the UK joined the EU it was a monumental victory for the existing member parties, because it meant that a powerful country, that could bring credibility and importance to a coalition previously lacking in both areas, would be joining their ranks.

An analysis of the latest figures for key economic indicators and the factors which have affected these indicators. This should include the figures for unemployment, inflation and economic growth.

The EU and the trade agreements entered into by member countries are examples of economic integration and cooperation. The benefits of joining an economic or trading bloc and reducing trade barriers can be plenty and they encourage countries to join them, and can be gained by all of the countries who are part in the economic integration agreement.

The UK as a member of the EU’s single market— a project to remove the barriers of trade within the EU and combine the European

The National Debt as percentage of GDP sits at 101.53 percent as of Q3 2014 and has a trend to increase or remain as is at its current state (Federal Government Debt); see Figure 2 below for total debt as a percentage of GDP.

London is the world's leading financial centre for international business and commerce and is one of the "command centres" for the global economy.London is the most populous region, urban zone and metropolitan area in the United Kingdom.London generates approximately 22 per cent of the UK's GDP.Although London is home to numerous companies within the United Kingdom, statistics show how important it is to other nations.For example, the most recent data estimates that London exports approximately £92billion worth of products every year while its GDP is greater than the economy of

The “Great Recession” is commonly used to explain the massive economic contraction that occurred in the United States during the fourth quarter of 2007. However, the actions of the United States spanned to other nations, leaving massive effect on the global economy. One nation that took on serious financial burden during this recession was the United Kingdom. This nation first faced the effects of the Great Recession beginning in the first quarter of 2008. Overall, the initial mass effects on the nation can be attributed to the nation’s reliance on the financial sector. In fact, after partially stabilizing in 2009, the country struggled with a double-dip recession between 2010-12, and continues to struggle with some of these effects.

The EU has become more economically integrated by becoming a common market. This removes barriers to production, like capital and labor.

European Union represents economic and political partnership of 28 states, with population more than 500 million people who can travel within its territory without considering internal borders. It operates as a single market with standardized laws and guaranteed freedom of movement of people, goods, services and capital. As such, European Union is attractive destination for all kind of immigrants, from people in search of a better life from unfortunate and unstable regions to highly qualified work force who are looking for greater business opportunities. As European Commission President Jose Manuel Barroso said in an interview for Time Magazine (Oct. 24,2007) “Europe is an

With the effect of the Single European Act on 1st July 1987, the emergence of European Union (EU) as a common market has essentially been created. The benefits of this act are substantial to European firms, economies, and workers. It eliminates conflicting national regulations and trade barriers, as well as offering firms opportunity to sell their goods to all other EU members (Griffin & Pustay 2005).