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IMF: UK faces credit rationing

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    IMF: UK faces credit rationing

    IMF: UK faces credit rationing or higher interest rates unless Bank prints more money

    ... The IMF's six-monthly snapshot of global financial conditions singled out the UK as the country most at risk from a potential dearth of funding, due to its weak banks and the need to finance the government's budget deficit. "In terms of regional vulnerability, the UK appears most susceptible to credit constraints ... given its significant reliance on the banking channel and the projected sharp decline in domestic bank balance sheets, as well as substantial public financing needs," said the GFSR.

    The fund said the UK could be facing a funding gap of £180bn next year – 15% of gross domestic product – and far higher than the 2.4% projected for the United States and the 3% for the eurozone. ...
    So much for Brown's claim that the UK is "best placed" for recovery ..
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    #2
    I'd be astonished if we didn't get a ratings downgrade.

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      #3
      Originally posted by Menelaus View Post
      I'd be astonished if we didn't get a ratings downgrade.
      Have the ratings agencies suddenly become competent?
      And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

      Comment


        #4
        Good point, although they're reasonably good at country risk (just sh!t at securitisations)

        Comment


          #5
          Originally posted by Menelaus View Post
          Good point, although they're reasonably good at country risk (just sh!t at securitisations)
          Bloody David Bowie.
          ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

          Comment


            #6
            no problem, short of money?......just print some more.

            I'm alright Jack

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              #7
              Gb

              Originally posted by OwlHoot View Post
              So much for Brown's claim that the UK is "best placed" for recovery ..
              You dont actually believe anythign that comes out of his mouth now ... do you?
              There are no evil thoughts except one: the refusal to think

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                #8
                Bend over fellas. Shaft is coming to town and guess what he is going to do to you.
                "Condoms should come with a free pack of earplugs."

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                  #9
                  I've had a genius idea. We just print enough money to pay off all our debts
                  ǝןqqıʍ

                  Comment


                    #10
                    Originally posted by Menelaus View Post
                    Good point, although they're reasonably good at country risk (just sh!t at securitisations)
                    One of my testers is working on securitisations right now; coming from a techie background he didn't understand anything about it, so I arranged for him to have some coaching sessions from the head of securitisation. Unfortunately, he doesn't understand much of it either and now I have the bank's securitisation department phoning my tester every day asking him questions about it. Does anybody really grasp securitisation?
                    And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014

                    Comment

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