Qualified advisers answering your
Financial Questions
for FREE within 60 minutes*

Are we poised is to see the third leg of the credit crunch crisis?

After the initial credit crunch hit the US and began to spread around the world there was a period when many observers believed concerns had been overdone and the markets and economies around the world would return to "normal". However, we then saw a second leg which impacted upon the worldwide financial sector, stock markets, government budgets and other vital elements of "everyday life". However, there are growing concerns that we could be poised to see the third leg of the credit crunch hit the worldwide economy!

Earlier this week we saw concerns appear regarding the Greek economy, which has struggled due to the downturn, with a massive increase in the Greek government budget deficit. There is also the ongoing situation in Dubai which, despite government claims that it is "under control", still has some way to go before it is totally resolved. As a consequence, there is growing fear in the money markets that more governments around the world will struggle to raise funds needed to see them through the short to medium term, a time when the worldwide economy and local economies should start to turn the corner.

The danger is that if economies are starved of potential financial investment in the short term we could see a sharp U-turn and a further lurch downwards. This could literally push the worldwide economy into a depression, never mind a recession!

Share this..

Related stories

Ask your question now!

Ask your question in the box below

Contact details are required so we can respond to your question

Allow 60 minutes* for a response from our UK qualified advisers

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


What to do if…I have gone over my overdraft limit

We can all make mistakes when it comes to banking from time to time. Whether it’s due to an emergency or simple carelessness, we are all human. If you have gone over your overdraft limit, or found yourself in an unauthorised overdraft, there are certain steps you should take to minimise the damage.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details