Simon Johnson: U.K. Economy 'Faces Crisis', G7 Is 'Fundamentally Useless'

04/09/2010 05:12 am ET | Updated May 25, 2011

Britain should be seen in the same category of countries as Greece and Spain, who are facing severe debt problems, a leading economist has said.

Ex-IMF chief economist Simon Johnson, also described the G7 group of leading economies as "fundamentally useless".

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