I found my A Level Economics rather too demanding to make an informed comment. Some, like William Keegan in The Observer clearly think that we are heading for very choppy waters. He argues that it is all “getting serious”, continuing that ” The British economy is on the verge of an economic and social catastrophe. So is our principal export market, the eurozone. And the mighty United States, whose treasury secretary has commendably urged Europe to pull itself together, is up against the unfortunate reality that the Republicans are doing their level best to pull their own country apart.”
It is natural for us historians to look over our shoulders at the Great Depression here. What parallels can and should be drawn ? Or is this just lazy and easy History ? Have a look at this BBC Audio slideshow and see what you think.