Britain's economy looks set to experience a modest period of recovery in the near future following the global economic downturn.
That is the opinion of Charles Bean, deputy governor of the Bank of England, who believes that declining inflation in the country will help ease the pressure on household finances.
Recently, it emerged that the UK's consumer prices index measure had dipped and Mr Bean has insisted this should help encourage a rise in spending among the population throughout 2012.
However, the Bank official went on to state that the ongoing issue of the eurozone debt crisis will stunt growth and prevent a full recovery due to the uncertainty this creates.
Mr Bean - who took up his post in July 2008 - noted that while the Greek bailout deal agreed yesterday (21 February) is "certainly welcome", it still "remains a possibility that events could unfold in a disorderly and damaging fashion at some stage in the future".
By Gary Cooper
