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‘Credit Crunch Same As Terrorism’

Posted By admin On September 22, 2008 @ 3:54 am In Money Watch | Comments Disabled

Sky News [1]
Monday, Sept 22, 2008

The Chancellor will liken the challenges posed by the global economic turbulence to the fight against terrorism when he addresses the Labour Party conference later today.

Alistair Darling will promise to take all necessary steps to deal with the current financial turmoil during his keynote speech in Manchester.

But he will concede that national governments cannot combat the problems of globalisation on their own.

(Article continues below)

He will say: “Just as one government alone cannot combat global terrorism, just as one government alone cannot deal with climate change, one government alone cannot deal with the impact of globalisation.”

Speaking to Sky News, Mr Darling said the Bank of England had pumped over £100bn into the UK financial system to help maintain stability.

He said further help would be provided if necessary, adding the Government was ready to respond to any developments.

“It’s important to support the economy and not do things to make it worse,” he told Sky presenter Eamonn Holmes.

Full article here [1]

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URLs in this post:

[1] Sky News : http://uk.news.yahoo.com/skynews/20080922/tuk-credit-crunch-same-as-terrorism-45dbed5.html

[2] Iceland’s senior minister resigns as government becomes first global political casualty of the credit crunch: http://www.prisonplanet.com/icelands-senior-minister-resigns-as-government-becomes-first-global-political-casualty-of-the-credit-crunch.html

[3] Bank Funding Crunch Deepens as Swap Rates Soar: Credit Markets: http://www.prisonplanet.com/bank-funding-crunch-deepens-as-swap-rates-soar-credit-markets.html

[4] Credit Crunch: ‘Worst Yet To Come’: http://www.prisonplanet.com/credit-crunch-worst-yet-to-come.html

[5] Credit Crunch Boosts Obama – Poll: http://www.prisonplanet.com/credit-crunch-boosts-obama-poll.html

[6] Bank Of England: Get Ready For Second Credit Crunch: http://www.prisonplanet.com/bank-of-england-get-ready-for-second-credit-crunch.html

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