Last night, the U.K.’s Chancellor of the Exchequer George Osborne laid out his plans for a ?100 billion program aimed to support the U.K. economy in advance of what they believe will be a “Eurozone debt storm” that is coming their way. With the support of the Bank of England, the government intends to deploy new firepower. Recently, Sir Mervyn King, the governor of the Bank of England had said that there was a growing case for additional monetary easing, which gave rise to speculation that a more accommodative stance would be forthcoming. Read more
