Friday, Jan 30, 2009
Foreigners pull out their cash from British Banks
UK Bubble: Another scary chart
Foreigners are holding sterling deposits in UK banks amounting to 30 percent of GDP. With interest rates at historical lows, that money is beginning to go home.
Posted by inflationwatch @ 05:21 PM (505 views) Add Comment
4 Comments
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1. debtfree said...
old news.... already been priced in, hence the sudden drop in value
2. stillthinking said...
Has it been priced in? Or maybe just already gone home.
3. drewster said...
Think I saw stories like this back in early November. Big multinational companies with large bank balances have been the main actors here, rather than wealthy individuals. This is why the government had to arrange the shotgun marriage between Lloyds and RBS.
4. Links London said...
This is why the government had to arrange the shotgun marriage between Lloyds and RBS.