Wolfgang Munchau about Great Britain crisis in real estates sector

Swedish economist Axel Leijonhufvud, working in American univercity UCLA, often loves to tlk about the practise of central banks to keep to the Inflation targeting. "This policy is wirking better on practise, than on theory", told he. The comentor of Financial Times - Wolfgang Munchau would tell them samo for British economy. If we have in mind the low producity of employees in Great Britain, and also the weak engineering achievements, the country should not develope so good in the last 15 years. From economic point of view, the prosperity of the country is looking impossible.
According to Munchau in the next some years, the British economy wonder will be in front of many problems. The balloon in the property sphere will bfrake somewhen and the citizens will be in front of harder crisis the the USA's now. A serious percent of Gross Domestic Product of Great Britain is forming from financial sector.