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-- problems these days are certainly not limited to America Great Britain is facing a similar crisis is home prices tumble.
And the government has taken stakes to big banks there as well joining us out of talk about the European horse tracks and what he thinks of the -- -- plan.
Is the first minister the Scottish Parliament.
Alex salmon -- first minister thank you very much for joining us here on Fox Business we appreciated -- good morning thank you first off before we get to your home country let's talk about the United States what do you make of president Obama's stimulus plan.
-- I think it's good plot itself.
We're back on the sale of some 108 to eight billion -- -- And after what impresses me about it is the fight that so much of the expenditures going right through the state government set.
I think -- becoming a fiscal stimulus is a good idea to deploy the spending that's closest possible to the individual economies something you know.
Like to spend a bathtub and if it was.
More dominated by federal spending so I think those that's a substantial plan and it.
New president now has to make people believe and do you believe it will work.
Well yes -- do -- this not be it's not potential solution to evade.
Economic crisis but and towns of what a fiscal stimulus can do -- -- -- keeping people in jobs could be in demand in the economy.
Bit of confidence throughout the the state economies and and giving people a sense of direction and hope yeah I think it will work and I think the -- them has the and the quality and that on the column but to -- I mean he -- to deliver and make people believe and.
You know of the crisis obviously is just -- severe in Europe as well -- in England and Great Britain.
Because home prices they are not back stop by the benefit of being -- write off mortgage interest and some other things that maybe entice people back into that market.
I was reading a story over the weekend about as others fear about possible rioting I mean -- the economic crisis could turn into one that is.
Violent and political.
What do you make of right now the European and more specifically -- response in Great Britain.
Well potential tough and of those surreal how resentment.
I'm only among the population I don't expect and -- admin rights in Scotland incidentally but nonetheless I -- moderate to see this -- of the the situation.
I mean will have a slight cushion of Scotland because -- prices didn't go up and inflationary bubble for the same extent that for the -- as far far to fall.
Unemployment -- employment Tyler activity and it's -- -- but listen trying to -- Scotland.
As -- across Europe.
You know it's very interesting you mentioned that because we've got states here that are fairly similar -- have the big run up.
So they're not having the big bursting at another they were I guess probably feel a little bit bad about the fact they did not participate in the bubble.
But right now they got to -- feel pretty good about it.
I don't think asset bubbles -- idea and I think kept.
People whole file long enough memories what -- -- memos -- bus stop for the bubble I think it.
But he got a long period of asset price inflation people tend to forget those.
A flip side in the -- well of course though.
As a hard lesson that's being that you have been -- suddenly at the present moment middle.
-- -- we've got significant strengths in the economy and renewable energy again -- -- to feature roughly.
Has -- Obama's plan.
And that is -- a growth sector in the economy and right now -- You lose to any site to go for as being a beacon of hope and at the school situation.
Well right now I mean you look at Ireland and perhaps no country in Europe has bigger problems is they do perhaps save for Iceland it.
There have been marches in Ireland what advice would you give to Ireland.
While violence coming to tackle a very tough.
Situation with a huge financial -- And -- to address that in terms of keeping the credibility of the fiscal policy the one about these island of god of courses because they moved into this recession.
Well fought people -- but had more prosperous -- in the United Kingdom.
That long period of success -- -- a bit of a cushion but nonetheless they.
-- its economy status of the event to the present moment and it would get caught you know but -- Over the Scandinavian countries of any chance what so of the vote but avoiding recession and even have those.
As significant signs of -- doesn't have little country a lot to smoltz going to skate lists.
It each country is -- tough that a lie in the it's an economic strengths on the and the -- policies to get through it not so but what we'll do Scotland which -- about more economic power to deploy some of that.
Believe those that President Obama is deploying he -- state level.
Instead of having that centralized economic management we have in the united kingdom of the present moment about a decentralization.
Of the state -- a Scottish.
And the economy would do a -- due to the present moment -- -- first minister if you were a betting man and you had to place a bet on what quarter of what year we see your recovery and would that be.
Well I'm a betting man and I'm madly console they -- of London was.
Was forecasting a company the back end of this year I don't think that's I see this expectation the present moment -- what you gonna do the present moment.
As focus on the things you do extremely well lack -- focus and renewable energy of Scotland you've got to live up to your friends and I'm.
He has to.
-- helped launch live.
Caucus the Scottish caucus in the senate -- the -- those of joining up.
A Scottish caucus led by the by pop is on basis but set the web of five of Virginia and senator Alexander -- -- Of Tennessee that's the thought that the senate because they -- -- for Scotland that he likes flannel is usually on the shirt not the kill.
Well of course a horrible pay cut that back because -- at those -- The other 27 million Americans the clearly got an affinity -- -- will come and visit associate not.
As you know homecoming that to him about that I -- events and I don't involve a -- I know you have to go to the first minister -- that if that pound keeps coming down.
We -- -- -- trips over the UK out of their two weeks ago I was for work I was very surprised that actually of the dollar.
I'm not if they would far but it was a little better little better we'll have it makes changes and -- -- can give back the idea that come to join Scotland and our uniform coming all right.
first minister Alex out of solid have a good successful trip in Washington and a safe trip home sir thank you very much -- fights and they thank you all right.
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