World Economic Forum Cites UK And US Financial Stability As “Very Poor”

The UK, and its financial centre London was once regarded as the epitome of stability. Alas no more. The World Economic Forum in its latest report now ranks the UK at 44^th out of 55 for currency stability. 45^th/55 for banking system stability and 39^th/55 for the competent management of government debt.

The UK put up a more robust performance for overall financial stability coming in at a heady 37^th/55 behind financial giants such as Thailand (36^th), Panama (35^th), Bangladesh (30^th), Nigeria (29^th) and Columbia (25^th).

Norway, Switzerland and Hong Kong topped the financial stability league. Ukraine was 55^th.

The United States, which like the UK, allowed its banking sector “masters of the universe” to preside over the most damaging financial chaos since the Great Depression, kindly kept the UK company residing in 38^th place.

Oh how the mighty have fallen.

Source: http://www.weforum.org

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