UK's Osborne says Fed policies not feeding emerging market woes
The UK economy remains highly unbalanced and the current recovery is not yet secured, UK Chancellor George Osborne said today while raising concerns about emerging markets' woes posing a threat to the global economy.
Osborne also argued that the underlying causes are domestic fragility in those countries adding to volatility “with currencies weakening by up to 19%, bond yields spiking by up to 11%, and sudden falls in equities markets across Latin America and Asia.”
“Together we need to act now to ensure that emerging market problems don’t contribute to a new crisis. How do we do that? By each one of us putting our own houses in order,” Osborne added.
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