Economists at UBS and JPMorgan Chase & Co. said the Greek debt woes will not happen in the U.K. as the deficit cut plan intended by Brown or Cameron is enough to cut the 12% deficit. Although both candidates have not announced a detailed plan for slashing deficit, the situation in the U.K. is different that Greece. However, having a minority government is a threat despite the agreement of both Brown and Cameron on cutting the deficit. Some analysts fear of having double-dip recession if the government undertook a severe debt cut plan, especially as recovery is still vulnerable.
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