ECB chief can't rule out further special monetary measures
The head of the European Central Bank has refused to rule out the introduction of further exceptional monetary measures as the Eurozone heads south towards a severe recession and possible depression. As we have seen in countries such as the UK, the interest rate tool which many have favoured over the years appears to have lost its impact and only substantial investment into the economies of the Eurozone looks like making any kind of difference.
At the same time, ECB chiefs have also been attacked for the slow speed at which they have reduced interest rates over the last few months when to many people it appeared obvious that serious trouble was ahead. However, hindsight is a wonderful thing and it is very easy to look back on recent times and criticise the actions taken by other parties.
The truth is that from day one of the credit crunch nobody quite knew what to expect, the impact on the worldwide economy and measures which could be taken to combat the effect. The most worrying aspect of the ongoing economic downturn is the fact that governments and economic experts around the world are none the wiser about how to combat what is turning into one of the largest threats to the worldwide economy in recent times.
Share this..
Related stories
What are the MPs scared of?
The MPs expenses scandal is sure to be with us right up until the next general election and despite attempts by Gordon Brown to gain the higher ground, David Cameron has most certainly benefited more than any other party leader from his no-nonsense approach. Gordon Brown would appear to be under intense pressure from those within the Labour Party and despite his attempts to paper over the cracks o...
Read MoreUK factory gate data surprises analysts
Amid hopes that factory gate prices were set to increase during June it appears as though they actually fell by 0.2% against an expected rise of 0.3%. The 1.2% fall year-on-year is the largest single fall for over seven years and has made many analysts think again about the prospect of a short to medium-term recovery in the UK economy.
It was also interesting to see that input price...
Yorkshire and Chelsea building societies in merger talks
It is believed, unofficially, that the Yorkshire building society and the Chelsea building society are in talks about a merger which would create a group to compete with the Nationwide building society. The two societies in question currently stand as the second and fifth largest in the UK and their amalgamation would bring together a group with the capital and the strength to take on the Nationwi...
Read MoreGordon Brown storms out of political interview
It has been revealed today, by the financial press, that Gordon Brown attempted to storm out of a live interview with Sky TV after he took offence to a number of questions relating to his personality and, quite rightly, attempted to direct the interview back towards policies and the future. However, over the last few days there have been increasing rumours of health issues with regards to Gordon...
Read MoreNew regulations for payday loan brokers
01/12/2014 The Financial Conduct Authority (FCA) has announced new regulations for payday loan middlemen, in an attempt to crackdown on unfair and extortionate fees. The companies, who do not actually lend consumers money but refer them to actual payday loan companies while charging a fee, will be banned from removing money from customers accounts. They must also make clear contracts outlin...
Read More