![]() Jeremy Batstone-Carr, at stockbrokers Charles Stanley, said: “If people thought 2008 was the start of a new Ice Age, this is the equivalent of the Black Death. That took losses for the past five days to £148billion, making it the fourth worst week since the Footsie’s launch in 1984. The FTSE ended the day 2.7 per cent down, wiping another £38billion off the value of Britain’s leading companies. This raised fears that Italy and Spain might become engulfed in the crisis which has led to Greece, the Irish Republic and Portugal already being bailed out and triggered a fresh wave of selling on markets across Europe. This was fuelled by comments by EC president Jose Manuel Barroso, who warned: “We are no longer managing a crisis just in the euro-area periphery.” There was a brief recovery around 2pm after better-than-expected news on US unemployment.īut within an hour they were lurching lower again amid growing fears that not enough was being done to tackle the debt crisis in the eurozone. “But I think it’s fairly extraordinary that they are all away at exactly the same time.”Īfter a dire session on Wall Street on Thursday, London share prices started yesterday in freefall, the FTSE falling three per cent. We all work hard and they have stressful jobs. The firm has 899.1 million under management. ![]() She said: “I don’t begrudge anyone a holiday. Contact What should I know about this firm Navy Federal Investment Services LLC is a national financial advisory firm headquartered in Vienna, VA. “It shows they haven’t got a clue what to do and they’re having to run for cover.”Īngela Eagle, shadow chief secretary to the Treasury, urged the coalition leaders to “get a grip”. John Mann, a member of the Treasury select committee, said: “Cameron’s away, Clegg’s away, Osborne’s away, Hague’s run away – and they’ve left a junior banker in charge. Labour MPs said it was “completely farcical” to leave such a junior member of the Government as the public face of UK efforts to stem the financial crisis. Her comments came as share prices took another pounding. “You are never on holiday when you are doing these jobs in reality and we are working to do what we can to support the eurozone.” In a bumbling TV interview, she said: “The Prime Minister and the Chancellor are fully in control and aware of exactly what is happening at the moment. Junior Treasury minister Justine Greening tried to defend the missing Government’s poor response. The Prime Minister finally took time out from his £10,000-a-week holiday in Italy to phone Bank of England governor Mervyn King to discuss the growing economic crisis.Ĭhancellor George Osborne also rang from California for an update and spoke to European finance ministers.īut it wasn’t enough to prevent growing calls for the ministers to return to Whitehall and deal with the crisis. DAVID Cameron was shamed into action yesterday as share prices plunged again. ![]()
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