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European Government seizing cash from private bank accounts in Cyprus
The move is part of the so-called rescue plan to get the country out of its financial crisis The surprise decision by euro zone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday, with shares and the bonds of struggling euro zone governments tumbling. The bloc Read full article...
U.K. in First Double-Dip Recession since 1970s
The first double-dip recession since the 1970s forced Prime Minister David Cameron to defend his spending cuts in Parliament. By JENNIFER RYAN | BLOOMBERG | APRIL 2012 Gross domestic product fell 0.2 percent from the fourth quarter of 2011, when it declined 0.3 percent, the Office for National Statistics said today in London. The median of 40 estimates in a Bloomberg Read full article...
More money for Banks as BoE keeps interest rates at 0.5%
AGENCE FRANCE PRESSE | APRIL 18, 2012 Bank of England policymakers all voted in favour of holding interest rates at a record low earlier in April, while one member called for more stimulus cash, the BoE said on Wednesday. Minutes from the central bank’s Monetary Policy Committee (MPC) meeting on April 4-5 showed that the Read full article...
Markets ‘Artificially’ Rally after FED and ECB Refill Bankers’ Pockets
By Scott Lanman Bloomberg November 30, 2011 The Federal Reserve cut the cost of emergency dollar funding for European banks as part of a globally coordinated central-bank response to the continent’s sovereign-debt crisis. The interest rate has been reduced to the dollar overnight index swap rate plus 50 basis points, or half a percentage point, Read full article...
UK demise: Deficit ‘to surpass Greece’s as worst in EU’
The use of non-original content in this site is protected by the Fair Use Clause created in 1976, which allows for the reproduction of copyrighted materials for the purposes of commentary, criticism and education. UK Guardian Whoever wins the election must make sorting out the public finances the top priority, the European commission warned on the eve Read full article...
