Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Bank says crisis has cost estimated 1.8 trillion pounds

  • Print Alex Jones Show podcast Prison Planet TV Infowars store

Reuters
Tuesday, Oct 28, 2008

The world’s battered financial system is nursing estimated losses of $2.8 trillion (1.8 trillion pounds) but global intervention should bring about stability, the Bank of England said on Tuesday.

Tentative signs have emerged that lending among banks is resuming, the Bank said in its twice-yearly Financial Stability Report.

“Exceptional interventions by governments and central banks should help stabilise the banking system in the period ahead,” the Bank said.

(Article continues below)

“While there are still risks in the wider financial system, the immediate response to the measures has been positive.”

In April, the Bank gave a fairly upbeat assessment of how severely the credit crunch would impact markets and the wider economy, but the central bank’s latest report is more cautious.

  • A d v e r t i s e m e n t

“The instability of the global financial system in recent weeks has been the most severe in living memory,” said Bank Deputy Governor John Gieve. “And with a global economic downturn underway, the financial system remains under strain.”

Full article here

This article was posted: Tuesday, October 28, 2008 at 5:24 am





Infowars.com Videos:

FEATURED VIDEOS
The Truth About the 'ISIS Bride' See the rest on the Alex Jones YouTube channel.

Jussie Smollett is a Complete Idiot See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/Rfi2O9yTCKI https://www.youtube.com/embed/NFYfqkrshp4

© 2019 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.