Darling says recession far from over
LONDON (Reuters) - Chancellor Alistair Darling said on Wednesday the country was "far from through" the recession, and that the job to achieve economic recovery was a long way from completion.
In an interview with the Financial Times newspaper, Darling repeatedly used the word 'difficult' to describe the economic outlook, after economic data suggested his November forecasts were over-optimistic.
"In the current climate, no responsible finance minister could say that the job's done, far from it. We are far from through this," Darling told the newspaper.
The chancellor said at his pre-budget report in November that growth in 2009 would be between -0.75 percent and -1.25 percent, with a recovery expected in 2010.
(Reporting by John Bowker, editing by Leslie Gevirtz)
© Thomson Reuters 2009 All rights reserved.
Ex-Bear managers cleared
Two former Bear Stearns hedge fund managers have been found not guilty of fraud, a decision that could make prosecutors less likely to bring charges against Wall Street executives for their role in the financial crisis. Full Article
Mini-dress drama in Brazil