ECB warns of economic instability
Various members of the European Central Bank have today stepped forward to warn consumers, businesses and investors in Europe that there may well be further "financial instability" in the short to medium term. This is one of the starkest warnings from the ECB at a time when many were hoping to see some positive news and positive signals from within Europe. However, it seems that the UK and the European banking fraternity may need to strengthen their balance sheets and baton down the hatches.
While there is no problem with ECB council members being open and honest with economists and investors around the world there is a problem with warning of potential issues ahead as this could well create a self fulfilling prophecy. If the ECB is concerned about the future there is no doubt that this downbeat assessment of the immediate future will be in the back of the minds of business leaders looking to plan for the future. Would you be brave enough to go against ECB advice in the short to medium term and help the European economy?
Slowly but surely the skies are starting to darken over the worldwide economy and unfortunately it looks as though we are in for a further bout of instability at the very least.
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