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Pimco's Gross: Osborne risks pushing UK into recession

Pimco manager Bill Gross has warned chancellor George Osborne his austerity measures risk pushing the UK into recession.


Gross, who manages the world's biggest bond fund, told the Times newspaper that a "mid-course correction" of the fiscal plans would lift the economy and should not damage the country's standing with bond investors.



"The economy in the UK is worse off than it was when the plan was developed, so there should be at a minimum fine-tuning and perhaps re-routing of the plan," he was quoted as saying.

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