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The Irish central bank has warned that rescuing the Anglo Irish Bank from ruin could cost up to 34 billion Euros in the worst case scenario.
In the best case, it will still cost a whopping 29.3 billion Euros to bail out the financial institution that was exceptionally hard hit by the economic crisis.
The Allied Irish Bank, in which the Irish government has a 19% share, will also need to to raise three billion Euros before the end of the year.
The Irish central bank has warned that rescuing the Anglo Irish Bank from ruin could cost up to 34 billion Euros in the worst case scenario.
In the best case, it will still cost a whopping 29.3 billion Euros to bail out the financial institution that was exceptionally hard hit by the economic crisis.
The Allied Irish Bank, in which the Irish government has a 19% share, will also need to to raise three billion Euros before the end of the year.
September 30th, 2010
The Bank of England should inject more money into the economy to strengthen the road to economic recovery, according to a member of the monetary policy committee.
Adam Posen suggested that quantitative easing (QE) should be resumed to increase the supply of money in the UK - a strategy that has pumped £200 billion into the economy already.
In a speech to the Hull and Humber Chamber of Commerce he advocated action and posited that current measures alone, such as low interest rates, would not be sufficient to promote a recovery.
September 29th, 2010
Investment Sense in the Financial Times
We were delighted to be featured in an article published in the Financial Times on Saturday 18th September.
The article, which can be found by clicking here, highlighted to issue that SIPP investors have in finding attractive rates for their deposit accounts, the problem is two fold.
Firstly as with say a Cash ISA, there are a huge range of deposit accounts available for a SIPP to open. However, unlike a Cash ISA there are no easy sources ...
September 29th, 2010
Continued low interest rates for savers is leading more people to repay debt rather than topping up savings, according to the Markit UK Household Finance Index.
The poll highlighted that September was the eighth consecutive month where lower levels of debt have been recorded, suggesting that many householders feel they may have to face further economic hardship in the future and are paying off debts while they can.
September 28th, 2010
