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Wednesday, 19 August 2009

End to the Credit Crunch?

My last post talked about the Bank of England stating that £50bn extra was still required to bail out the economy. Well it seems that the Governor thought it needed more than that! It seems he voted for £75bn extra (total £200bn) and was defeated by the majority going for a total of £175bn.

What does this tell us about the credit problems out there? That there are great strides of progress being made, or that the markets are still locked up?

The news today that Bundesbank is preparing for a second credit crunch in Germany
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6050822/Germany-braces-for-second-wave-of-credit-crunch.html


is even more worrying.

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