British GDP to fall below Italy's by next year

[Francko]

As if this is such a problem. Italy is a rich country. The south is poor because it’s corrupt and it sucks finances out of the north and makes the whole lot look a bit shabby, but northern Italy is one of Europe’s richest economies; so rich in fact that it can feed another region it's own size while still maintaining a good standard of living. Just being a little bit less rich than people from Turin or Bologna doesn’t make anyone poor.

True, but don't forget that one of the reason why the north is richer is because after WWII all expenses for the recostrunction were done in the north and also that the south has been (now been taken over by poorer immigrants from other countries) a wide provider of cheap labour.

In any case let's the new "sorpasso" roll on....

[sasguru]

In any case let's the new "sorpasso" roll on....

It's less a "sorpasso" by Italy, than a by the UK

[gingerjedi]

...The south is poor because it’s corrupt and it sucks finances out of the north and makes the whole lot look a bit shabby, but northern Italy is one of Europe’s richest economies; so rich in fact that it can feed another region it's own size while still maintaining a good standard of living.... .

Its like an up-side-down UK then?..

[eyetie]

Its like an up-side-down UK then?..

Exactly!

Except, just like in the UK, the most-hated teams across the country are in the North (Juve and AC).

Italy has been far less exposed to the US economy so has been hit far less. As soon as the US economy works out what to do with itself, I expect the UK to be back where it was. So not anytime soon then....

[Mich the Tester]

Exactly!

Except, just like in the UK, the most-hated teams across the country are in the North (Juve and AC).

The weather's better in Italy though.

[NetwkSupport]

As if this is such a problem. Italy is a rich country. The south is poor because it’s corrupt and it sucks finances out of the north and makes the whole lot look a bit shabby, but northern Italy is one of Europe’s richest economies; so rich in fact that it can feed another region it's own size while still maintaining a good standard of living. Just being a little bit less rich than people from Turin or Bologna doesn’t make anyone poor.

the south has an enormous "unofficial" GDP run by the mafian government.

[gingerjedi]

The weather's better in Italy though.

If you're gonna be poor I'd rather be here than here.

[Mich the Tester]

If you're gonna be poor I'd rather be here than here.

yep
fair point

[Francko]

If you're gonna be poor I'd rather be here than here.

Is that the Como lake?

[expat]

Well below France now and forecast to decline further.
http://www.timesonline.co.uk/tol/new...cle5299162.ece

"Decline when it comes is swift and inexorable"
Plato

“An overvalued sterling has inflated the UK’s claims to be among the top five world economies,” said Ben Read, an economist with the CEBR.

As I have been saying for a while: the UK has long been pretending that its economy is doing better than it really is. When sterling falls to a realistic value it will be clear that the country is poor. BTW I am not sure that the realistic value is above or even equal the euro.