Did the EU learn anything from the 2008 liquidity crisis?
As the UK sinks further into debt, I look across Europe and see that not much has improved over there in the banking sector over the last 6 years. They seem to have a strong political will in the EU, but is that enough? Somehow, I can't see them having the cash to fund any large property loans in London over the coming year!
Merryn Somerset Webb of Money Week presents:
I have a friend who has been trying to sell a central London flat for eight months. Another has had a large house on the market for six months. They canât understand why these one-time money machines arenât selling. The reason is threat of higher property taxes pushes down house prices because buyers mentally capitalise the tax. They calculate the long-term costs of the tax in the future and subtract that lump sum from the price they are willing to pay for the house and its attached burden today.