In August 2008 the majority of average MFI interest rates on new deposits and new loans were either basically unchanged or higher than in the previous month.
The way the world tries to solve its economic problems needs to be rethought amid today’s global crisis, including turning the Group of Seven into a Steering Group that empowers rising economic states, said World Bank Group President Robert B. Zoellick.
President Bush signed the Emergency Economic Stabilization Act of 2008, or EESA, into law within two hours of its final passage in the House of Representatives on October 3, 2008, and declared that the legislation was "essential to helping America's economy weather this financial crisis."
The EU must cooperate with the Irish government to address people's concerns and find a suitable way forward for institutional reform. So said MEPs in a lively Constitutional Affairs Committee debate with Irish Foreign Minister Michael Martin on Monday, on the reasons for Ireland's referendum rejection of the draft Lisbon reform treaty.
Competition Commissioner Neelie Kroes told MEPs on Monday that an EU-wide response to the banking crisis would be preferable to unilateral action. Competition rules were part of the solution rather than an obstacle to it, she argued.
As we have seen, the issues this week for investors will be the Reserve Bank, interest rates, employment in Australia, shares, banks generally, credit freeze, earnings in the US, interest rates in Britain and Japan and confidence generally.
Nowhere to run, nowhere hide, or so it seems in recent weeks. Last week was no exception, and the havoc continued across the globe yesterday and continued into the trading in northern hemisphere markets.
Markets tumbled around the world, the euro fell sharply against the yen and the US dollar;oil dropped below $US90 a barrel and the Australian dollar plunged by over 5% in a matter of hours.
