welcome to our site
And later defending - - British bank Northern Rock, the fifth largest UK mortgage lender, when I Heathrow Airport on Tuesday, the Financial Times front page was dominated headlines trumpet the collapse arrived at. Since 1860 years ago in the UK - Photos British are faced with Northern Rock offices around the country the fact that it is a race, the bank can not deny the home was ordered by the patient. Wholesale market, after receiving 75% of your money - the market completely in the recent financial crisis had dried up - Northern Rock account holders the verge of collapse as the bank's treasures was emptied. Monday evening, Dear Alastair, the Finance Minister announced that the British government to Northern Rock stepper motor to guarantee all deposits.
Last week the Bank of England, Mervyn King, the British equivalent of Fed Chairman Ben Bernanke, Finance Committee, presented a paper on the crisis and advocated a tough stand against British banks: the same source, "providing short-term highly liquid short-term market liquidity in securities to reduce interest rates .... but on the other hand, the provision of liquidity, encourage excessive risk taking, such as ... support and future financial crisis sows. "
Suddenly in the face of the Bank of England Mervyn King it was surprising and was called the Finance Committee quickly justify their new location. Metaphors your comments on the defensive was peppered with common people upset. Martin Wolf, Financial Times, the so-called terrorism economics correspondent for the response equal to the Bank of England lose a game chicken. "Smart money" for the future of Northern Rock is also skeptical about the possibilities and share hedge fund Northern Rock yesterday was so strong that ran on short selling stock to sell shares fell 28% yesterday, a British blue chips first -. for.
Strikingly a look behind the headlines to see the Bank of England reinforced the turmoil in financial markets has had limited impact on the real economy of the United Kingdom. Data released yesterday confirmed that British consumers still spending in August between the financial storm. Real estate market slows and inflationary pressures are low and that higher interest rates start to bite. Manufacturing sector was also optimistic in September. In general, hard data further strong evidence of the real economy and financial markets offer.