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UK recovery 'at risk' from £180bn shortfall

halight
halight Posts: 3,629 Forumite
Part of the Furniture Combo Breaker
in Debate House Prices & the Economy
Economic recovery in Britain will be slowed down by a possible credit shortfall of £180 billion next year caused by the weakness of the banking sector and the state budget deficit, the International Monetary Fund (IMF) warned today


http://business.timesonline.co.uk/tol/business/economics/article6854810.ece
:jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j
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Comments

  • purch
    purch Posts: 9,865 Forumite
    credit shortfall of £180 billion

    ...an amount eerily similar to the amount of QE which was supposed to make up that shortfall :eek:
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    IMF, looks like they have their publicity machine up and running again icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Found this a rather unnerving comment.
    The report added that it was not certain that the global financial system would have enough credit to fund an economic recovery

    Mervyn has repeated on several occassions that there is a lack of wholesale funds on the International markets available to the UK banks. So the net result could be a real squeeze / rationing on consumer debt.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Found this a rather unnerving comment.



    Mervyn has repeated on several occassions that there is a lack of wholesale funds on the International markets available to the UK banks. So the net result could be a real squeeze / rationing on consumer debt.

    Merv was also very worried about inflation last August, even after commodity prices had started to collapse.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    Merv was also very worried about inflation last August, even after commodity prices had started to collapse.

    Inflation the BOE can influence. The International money markets will determine the cost of money.

    Which would you buy if you were an international investor if both were equally priced ?

    German Government Bonds or UK Gilts ?
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Deutschmarks every time for me.
  • mbga9pgf
    mbga9pgf Posts: 3,224 Forumite
    Thrugelmir wrote: »
    Found this a rather unnerving comment.



    Mervyn has repeated on several occassions that there is a lack of wholesale funds on the International markets available to the UK banks. So the net result could be a real squeeze / rationing on consumer debt.
    Ooh, I really do hope so!

    Living beyond our means, it has to stop!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mewbie wrote: »
    Deutschmarks every time for me.

    Mewbie, its about time you traded that old currency in. ;)
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Mewbie, its about time you traded that old currency in. ;)
    Not till the war is over and we join the Common Market.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mewbie wrote: »
    Not till the war is over and we join the Common Market.

    Even the Irish appear to be caving in with a potential Yes vote now their economy has caved in. Maybe we should join them. ;)
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