Sir Mervyn King has announced emergency measures to help banks and boost business lending amid a warning from George Osborne that the "debt storm" raging on the continent had left the UK and the rest of Europe facing their most serious economic crisis outside wartime.
With one Spanish minister warning that the future of Europe could be decided within hours, the Bank of England will begin pumping a minimum of £5bn a month into City institutions within the next few days and the government expects to have a new "funding for lending" scheme for households and cash-starved small and medium-sized businesses in place within weeks.
Thursday, June 14, 2012
Word Salad And More Free Money For Banksters ...er... City Institutions
Huzzah!