Eldridge Financial Blog: UK in recession again as recovery is ‘paralyzed’ by the European debt crisis, forecasted.

Eldridge Financial Blog: UK in recession again as recovery is ‘paralyzed’ by the European debt crisis, forecasted.

Britain is once again suffering a recession and unemployment risks coming close into three million this year as forecasted by the leading economic forecaster. The UK’s economic recovery is ‘paralyzed’ by Europe’s debt crisis, the Ernst & Young Item club will warn, as it cut its GDP growth forecast from 1.5 per cent to 0.2 per cent. According to Eldridge Financial Blog, the dire prediction comes after nine European countries including France, have had their credit ratings downgraded on Friday, dropping world stock markets into turmoil.