New Home Owners And Snagging Forum
Investments => Financial Markets and the economy => Topic started by: The Prophet on July 04, 2011, 12:22:37 pm
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Can you remember when, during the last banking crisis Lehman went bust and banks needed to be bailed-out at tax payer's expense, we were informed it would never be allowed to happen again as the banks would be properly regulated?
Well Britain will be hit with further losses of around £366billion from the collapse of the Greece economy. British financial institutions are deep in Greek debt far more than was previously thought and more than the BBC is telling you!
The new bank bail-outs required WHEN Greece defaults will amount to £14,640 for every family in Britain.
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It seems to have been put off for a few more months maybe even a year.
Everything will be kept rosy until after the US elections.
That will support banks and the markets world wide for the rest of the year.
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Eurozone countries needing bail-outs are sitting on large Gold reserves.
Greece has assets of $5.8bn and Portugal has $19.3bn worth of Gold.
They should be forced to sell it to raise funds before having further bail-out help from the ECB.