Archive for October, 2008
Run on the Banks from Britain to Ireland
Saturday, October 4th, 2008As American politicians play politics with the second great depression in 100 years, Britain is facing the beginning of a run on their banks. The British government only guarantees around $50,000 of depositors’ funds whereas the FDIC make $100,000 safe in a US bank.
But the Irish government has put its name behind every […]
Britain’s Economy in Meltdown as Government Faces Collapse
Wednesday, October 1st, 2008Britain will be the only major economy to face the full force of a recession, according to the Organization for Economic Co-operation and Development. While all the G7 economies will slow The O.E.C.D. predicts that Britain will be the only member of the G7 whose gross domestic product will fall into negative growth. Since this […]