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Three central banks take action in sign of alarm

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Boy! I bet our UK amigos are happy they did not decide to change their currency from the Sterling pound to the now almost worthless EURO!

2 ( +2 / -0 )

In the Euro zone and sick at having to bail out the banks due to their total lack of fiscal naivity. At present we have a problem with the RBS and Ulster Bank who have successfully managed to botch a computer programm leaving customers in limbo at present. I want to see the fiscal policies of banks regulated to the effect that the fiasco of the past will never be repeated. No doubt the euro will recover, but at present it is at the expense of the tax payer. Will a cheap lending rate emulating from the Central banks aid the recovery of national economies? I dont know, it remains to be seen

1 ( +1 / -0 )

The European Central Bank cut rates to a record low 0.75 percent following a dire run of economic data. But it steered clear of bolder moves such as reviving its government bond-buying programme or flooding banks with more long-term liquidity.

Ah good old European economics. Do just enough to cause a stir, but not enough to change anything. Way to kick the can down the road for a couple more days.

I want to see the fiscal policies of banks regulated to the effect that the fiasco of the past will never be repeated.

There banks are already heavily regulated, this was the European Central Bank afterall. You can put as many regulations in place as you want but if the regulators are the same crackpots that caused the problem in the first place you're going to get the same old problems. A proper solutions would be to actually review what a bank should be doing in the first place, I've always maintained that a bank should be a secure place to stick your money for a while and not a an unlimited funds trough for governments to drink from whenever they feel like it but thats exactly how the EU uses it.

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Bailouts, QE2, QE3?, regulation etc will have little effect. The writing is on the wall for the world economy. If you are interested you should study the fate of all Fiat currencies. We are on the edge of the greatest transfer of wealth in history so get ready and get on the correct side of it or you'll be penniless.

I was watching this news story to see how many people would comment on it. While stories of minor or no consequence like escaping penguins etc were getting many comments, this one of world and personal life major importance got none until the three above me. Well done guys and girls IMHO.

1 ( +1 / -0 )

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