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Ftse Starting Off Well...down 1.39%


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http://www.bbc.co.uk/blogs/newsnight/paulmason/2010/06/markets_tremble_fingers_crosse.html

Finally there are the banks, and above all the European banks. The Bank for International Settlements warned yesterday that there is just a huge amount of unstabilised bad debt out there.

"The financial disruptions in the first half of 2010 have brought the fragility of the

industrial world's financial system into stark relief: a shock of virtually any size

risks a replay of the events we saw in late 2008 and early 2009. The sovereign

debt crisis in Greece is clearly jeopardising Europe's nascent recovery from

the deep recession brought on by the earlier crisis.

"Unlike then, however, we have hardly any room for manoeuvre. Policy

rates are already at zero and central bank balance sheets are bloated.

Although private sector debt has started to decline, public debt has taken its

place, with sovereign fiscal positions already on an unsustainable path in a

number of countries. In short, macroeconomic policy is in a vastly worse

position than it was three years ago, with little capacity to combat a new crisis

- it will be difficult to find a source of further treatment should another

emergency arise." (My emphasis)

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In short, macroeconomic policy is in a vastly worse

position than it was three years ago, with little capacity to combat a new crisis

- it will be difficult to find a source of further treatment should another

emergency arise."

I'm confused does that mean it's contained or not? I really wish someone would make their mind up about all this.

One minute I'm up the next I'm down.

It's the hokey cokey recovery.

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Guest Steve Cook

I'm confused does that mean it's contained or not? I really wish someone would make their mind up about all this.

One minute I'm up the next I'm down.

It's the hokey cokey recovery.

It means its probably not contained and we might be about to get to find out how not contained it actually is.....

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