General Insurance Article - Fidelity-Trevor Greetham comments on threat of UK downgrade

 Trevor Greetham, Asset Allocation Director at Fidelity Worldwide Investment, comments on Moody's threat to downgrade Britain's credit rating:
 "In a rather muddled statement Moody's cites a weaker growth outlook as the prime driver for its decision to put UK on negative credit watch before conceding that the austerity it recommends is itself a cause of economic weakness.

 "Free of Europe's fiscal pact and with its own central bank and currency the UK has the policy flexibility to ride out the financial crisis.

 "Contrary to ratings agency advice, I would support a targeted easing of fiscal policy to keep the economy moving while the consumer pays down debt. Without growth, everything becomes more difficult."