UK faces triple-dip recession

Economists have warned the UK could suffer a triple-dip recession next year after the recovery effects of the Olympics wear off.

They fear the eurozone crisis and a Greek exit early next year could push the country back into recession next spring, the Sunday Times reports. Their warnings comes despite ratings agency S&P's decision to retain the UK's prized AAA credit rating as it expects the economy to return to growth next year. The Sunday Times reports many economists have been downgrading their forecasts for Britain following shock data released by the ONS last week. This showed the sharpest quarterly decline in UK GDP since the first three months of 2009. The recession is now the longest since records began...