U.K. Spending Cuts Are 'Mistake', Niesr Says

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Aug. 8 (Bloomberg) -- Jonathan Portes, director of the National Institute for Economic and Social Research, talks about the outlook for the U.K. economy. Portes, speaking with Owen Thomas on Bloomberg Television's "On The Move," also discusses the European Central Bank's purchase of Italian and Spanish bonds, and Standard & Poor's credit downgrade of U.S. debt. (Source: Bloomberg)

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