BRITAIN'S economic stability is threatened by a number of international factors, the Liberal Democrat economic spokesman warned North-East business leaders.
Dr Vincent Cable expressed concerns about the impact of rising oil prices, the plummeting dollar and an imminent house price collapse.
Dr Cable said: "Economic stability is extremely important and I have openly supported the Chancellor in some of his fiscal policy in the past.
"But this could be jeopardised by an oil shock, although we do not yet know if that will happen. We are in very real danger now that the house price boom will turn into a slump, with a radical impact on household spending.
"A sharp collapse in the dollar is widely expected which would threaten future economic growth for Europe.
"Although the stability is okay at present, there are some dark clouds on the horizon."
Dr Cable was speaking at the North-East Chamber of Commerce's annual Tyne and Wear Dinner.
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