An economist from the University of Warwick is warning UK households to be financially cautious this Christmas, fearing consumers could be gripped by an exaggerated confidence in the economic recovery. Dr Dean Garratt is concerned that over-spending during the festive period and willingness by many to shoulder further debts could risk a throwback to the drop in spending that was seen after the financial crash in the late 2000s.
Professor Chris Warhurst is the Director of the Institute for Employment Research. He said: "The good news from today’s figures is that unemployment continues to fall and more people are in work. In fact Christmas present looks good. Almost half a million jobs have been created in the UK this year. The employment rate has risen to 73%, continuing an upward trend that started in 2011. Unemployment has fallen to 6%, this time the continuation of a downward trend. And the UK’s unemployment rate is far lower than the EU average (6% vs 10%). It seems like glad tidings for UK workers therefore.
Its hard to see economic recovery in Russia as long as Putin is president Professor Mark Harrison
Professor Mark Harrison is an expert on the Russian economy. He said: “Russia’s currency crisis has two lessons, one already clear, the other in the making. The first lesson is about the surprising effectiveness of ‘new’ sanctions. “Old” sanctions were applied to international trade. Two hundred years of experience included the blockades of the Napoleonic wars and two world wars, sanctions on the Soviet bloc, Cuba, South Africa, Iraq, and many others. These showed that trade sanctions are rarely effective in the short run – say, over a few months or even a year or so. Any middle sized, moderately industrialised economy could find ways around external restrictions by finding out substitutes and tightening belts a little. Any effects tended to be gradual, cumulative, and undramatic.
Dr Alexander Smith, a sociologist from the University of Warwick, was born and raised in Australia. Reflecting on recent events in the country, he said: “With the siege of the Sydney cafe over, Australians are now picking up the pieces and asking themselves difficult questions. Could this have been prevented? Could more have been done to save the three lives that were lost: the two hostages and the gunman himself?
Professor John Thanassoulis said: "The Bank of England are being diligent and fair to all the banks, but the downsides of this approach to financial regulation are that we publicly name certain banks as being distressed sellers of assets. For example the Co-operative bank has now been required to sell a large part of its mortgage book. A forced seller is one who will not receive a good price...