Housing prices in the UK are expected to continue falling in 2011, with experts predicting that the average price will drop about 2%. Housing is not the only area in which reduced economic activity is expected: retailers expect the January 1 rise in VAT to depress their sales during the coming year.
In other economic news, the Greek government’s austerity budget for 2011 has prompted the communists to urge workers to start “a real war” to “overthrow the regime” and set up “a government of the people” — and also repudiate the country’s debt to the EU and the IMF.
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