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World facing worst financial crisis in history, Bank of England Governor says

Posted By admin On October 7, 2011 @ 2:28 am In Featured Stories,Tile,World News | Comments Disabled

James Kirkup
London Telegraph [1]
October 7, 2011

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession.

Economists said the Bank’s decision to resume its quantitative easing [QE], or asset purchase programme, showed it was increasingly fearful for the economy, and predicted more such moves ahead.

Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster.

Full article here [1]

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-worst-financial-crisis-in-history-Bank-of-England-Governor-says.html

[2] ‘Worst financial crisis in human history’: Bank boss’s warning as pound suffers biggest fall for 37 years: http://www.prisonplanet.com/worst-financial-crisis-in-human-history-bank-bosss-warning-as-pound-suffers-biggest-fall-for-37-years.html

[3] ‘This is as bad as a world war’: Bank of England boss’s grim view of financial crisis which has left a debt ‘that will be paid by our grandchildren’: http://www.prisonplanet.com/this-is-as-bad-as-a-world-war-bank-of-england-bosss-grim-view-of-financial-crisis-which-has-left-a-debt-that-will-be-paid-by-our-grandchildren.html

[4] Mervyn King: “World’s Worst Financial Crisis Ever: http://www.prisonplanet.com/mervyn-king-worlds-worst-financial-crisis-ever.html

[5] Britain at risk of another financial crisis, Bank of England chief warns: http://www.prisonplanet.com/britain-at-risk-of-another-financial-crisis-bank-of-england-chief-warns.html

[6] Bank Governor Mervyn King defeated in bid to print even more money: http://www.prisonplanet.com/bank-governor-mervyn-king-defeated-in-bid-to-print-even-more-money.html

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