As the UK sank back into recession in the first quarter of this year, a leading bank has warned of a long road to economic recovery. Lloyds Banking Group has said that the UK economy faces a number of challenges ahead, and faces a “long and difficult” recovery period. The warning comes as Lloyds sets [...]
OECD warns of worldwide depression if no action is taken over the euro crisis
In predicting a “mild” recession for the UK and the eurozone for this quarter and next in its latest economic outlook, the OECD stresses that this is assuming nothing untoward happens on the Continent, and that policy-makers take sufficient action to avoid disorderly sovereign defaults, a sharp credit contraction, systemic bank failures and excessive fiscal [...]
More public money required for bankers as IMF warns of €200bn blackhole in European banking system
Most International Monetary Fund reports are necessarily the result of compromise and negotiation. Rarely is the IMF allowed by its nation shareholders to tell it exactly as it sees it. So the warning in the IMF’s latest “Global Financial Stability Report” that European Union banks face a possible capital shortfall of €200bn to €300bn as [...]
S&P Warns of Potential Finance Meltdown
Gerald Epstein: Real message of S&P downgrade of US debt outlook is threat of another meltdown of finance sector
Fitch warns Greece of ‘selective default’
Ratings agency says Athens faces default after second EU bail-out because the deal makes bondholders assume some of the cost View full post on Financial Times – UK Homepage
Risk rally slowed as S&P warns on Greece
Asia equities rally as regional sentiment is buoyed by gains on Wall Street, but Greece worries put a brake on Europe View full post on Financial Times – UK Homepage
Economic growth must slow, warns BIS
Bank for International Settlements says that with scope for rapid growth closing, monetary policy should be quickly brought back to normal View full post on Financial Times – UK Homepage
Bank warns lenders over bad loans
The reluctance of UK banks to crack down on delinquent borrowers could spark the country’s next financial crisis, the Bank of England warned View full post on Financial Times – UK Homepage