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How the U.K.'s Recession Impacts the U.S.

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    Forex Research Director Kathleen Brooks gives her outlook for growth in the U.K.

  • Duration 4:08
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That's the question well as the UK -- so his first double dip recession since the while 1970.

Is almost stopping to bonds -- Fed Chairman Ben Bernanke about the impact of Europe's continuing debt crisis.

On the US economy.

What is your assessment that the situation.

In Europe with the debt crisis are authorities there.

Adequately addressing that crisis in recent weeks we've seen more market stress.

Arising from concerns about the fiscal positions of Spain and Italy.

And you know we see more volatility -- our own markets related to that.

I still more about this joining me now Kathleen Brooks research director at Forex dot com Kathleen thank you for joining us.

Mr.

Bernanke talking about the stresses in Europe I mean I can't think of a time when they weren't stresses in Europe it seems it's not a daily thing com.

Our wonderful -- firstly he mentioned does Spain and Italy are you still very concerned about where these countries are headed.

I think apps in the I mean it that way the epicenter -- right now is very much had to send all -- -- Not just -- periphery -- say.

The the Fed fourth largest economies in the currency -- I think what you know what all the C is worrying for for -- -- and authorities in Spain in particular -- this bond deals still remain very high and has got to bring -- deficit down.

Kathleen it appears to me that there's somewhat of that historic and austerity lab backlash because.

I -- again today we saw Italian prime minister Mario Monti kind of joining the -- saying that we've got to perhaps.

Take a little bit back step here with regards to severe.

-- cuts in spending and trying to promote growth and of course is all goes.

Against what Germany has been preaching from the very beginning.

Well -- -- every is act.

Combined assets -- based -- In the yours any pleading with -- but the the funny thing is that once Yemeni wants -- -- the rest of your poems on the bright side of things the -- very different things say.

It looks like this growth pact if you like we have Walt ECB president my -- -- day.

Could actually be on the -- -- the periphery in Europe on a collision course with Germany should be ECB be doing more than they already up.

Well according to -- Monday they shouldn't spend not allowed to buy ads I've read in our last fund governments directly to that call by government -- A they've already done LCI rates twice and that is some.

He had very good arguments you made and that could cause more problems for the -- he -- did and hasn't yet been that they did things.

I think day they'll probably rights to cause -- governments of these states but they will need to step in.

We.

What about the health of European banks have they been using -- ECB funds to -- Paper over a lot of dodgy loans.

Well not necessarily -- the the biggest problem with the with the else are they -- happened buying especially is -- -- -- -- very knowledge amounts all the government debt and and -- Stacey -- CRA.

But the biggest risk -- that is that they've then actually done is what they -- that is unit based only space technology in.

We ECB to get -- lanes and every time Spanish bond deals full old Italian -- deals full they monsoon climate stop.

Bottom line -- the one common common currency Kathleen the euro's survive.

What has been an ongoing debt crisis and still I don't think we have a clear armed service with.

To the -- forward.

I agree and I think we don't have a -- -- says -- widow and all our viewers and cast live one count on the -- and it's kind of foam.

Is probably unlikely that it will be able to what we need to see the dismal given takes -- a bit more.

-- from Gemini I get -- getting maybe use some of that agenda and that fiscal -- have a summit summit opposing fiscal.

Actually -- the Gemini have to -- and these days a week -- his southern peripheral economies.

But middleman outside sales -- need to keep the fiscal pack of like the markets -- -- -- some confidence and still dark cloud that hangs out to Kathleen Brooks I would Forex dot com Kathleen thank you so much for joining us we appreciate it.

Thank --

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