Gordon 's Press conference at 11am today

gozomark

South Korea

do agree though - never say never, and never say all - only takes one example to prove you are wrong

nicko33

I may well be wrong about Australia and Indonesia

It doesn't have to all be like Northern Rock.
If the banks are needing govt support, there's a problem in the banking system. (Some governments may have more reserves than others though)

The Bank of Japan’s governor, Masaaki Shirakawa, said he expected commercial banks to borrow about 3 trillion yen, or $30 billion, under the new scheme.
http://dealbook.blogs.nytimes.com/2008/12/02/japan-acts-to-ease-crisis-in-corporate-credit/

Russia’s Development Bank moved to avert a liquidity crisis yesterday by announcing plans to pump billions of pounds into the financial system.
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article2726652.ece

the Bank of Korea's unprecedented rate cuts and the huge bank support plan.
http://www.iht.com/articles/2008/12/18/business/won.php

also:
http://en.wikipedia.org/wiki/Russian_financial_crisis_of_2008-2009#Bank_failures

ChuckCash

If Brown was referring to the economic downturn / recession or whatever his terminology of choice is nowadays, then yes, it's a worldwide problem. But the banking crisis certainly isn't. Asia pacific region banks hardly seem to be in crisis mode, unless they are hiding it well. And even in europe santander doesn't seem too flustered as it casually picks off the deposits parts of failing uk banks.

If Gordon is trying to offer comfort to the british people by saying all banks are in the same boat he's totally wrong - next thing he'll be comparing our economy with zimbabwe and telling us all what a good job he's doing after all.

nicko33

"the government responded by pledging more than $100 billion in loan guarantees and an infusion of $30 billion in American dollars to prop up the Korean banking system."

...

“We thought that sitting on a quarter of a trillion dollars in reserves would be enough to make us okay,” said Dr. Park of Korea University. “Boy, were we wrong.”

http://www.nytimes.com/2008/10/24/business/worldbusiness/24won.html?_r=1

Masomnia

Santander?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/3418229/Santander-stuns-the-markets-with-7.2bn-rights-issue.html

BallandChain

Deleted as it's on the wrong thread.

purch

This could run on to banks and building societies.

Could it ??

Why ?

RayWolfe

Gosh! Sky are well ahead with the news ... I thought this broke in the middle of last week.

BallandChain

It's breaking news on Sky right now and the first I have heard of it.

RayWolfe

RayWolfe wrote: »

Gosh! Sky are well ahead with the news ... I thought this broke in the middle of last week.

No, I was wrong. It was the beginning of last week. Bet it makes you feel good about paying all that money to Mr Murdoch to keep you right up to date.