Globe decoupling from US 'unrealistic' - papers 5 June

Ed Lazear, chairman of the Council of Economic Advisers, said that the idea of decoupling would only be realistic if the US's share of the world economy had fallen and if international trade flows dried up. But, he said, the giant US economy still accounts for 30% of the world total and trade flows have increased in recent years. THE GOVERNMENT COULD be forced to approve a more radical and rapid downsizing of Northern Rock if it is to win European Commission approval for its bailout of the mortgage lender, it emerged today, also according to The Guardian. The commission could also fo...