"How justified is Britain’s status these days as (some say) Europe’s new sick man? It is tempting to see in its fall from grace a simple morality tale: an economy with a swollen financial sector that borrowed a lot, ran a current-account deficit and had a huge housing boom has got its just deserts. But this caricature tells us little, for it is already apparent that supposedly virtuous countries such as Germany, which had current-account surpluses and avoided housing booms, are also in trouble. Among big economies, Britain is neck and neck with Germany and Japan in the race to the bottom, and there is plenty to worry about beyond the downturn. But its swing from paragon to pariah has gone too far."
- Continuar a ler em Britain's fallen star The Economist
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