Archive for August, 2009

Black Hole Developing in Edinburgh City Budget Driven by recession, trams and SNP Policy

Posted on August 24th, 2009 in UK Crisis

A black hole is opening up in the Edinburgh city budget that could eventually lead to the city going bankrupt. A combination of the recession, the Trams project and the SNP’s policy of freezing the council tax is opening a deficit that is being filled with job cuts, wage cuts and cuts in services. This [...]

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The Banks, the Stock Market, the Bank of England and the Economy: Is The Crisis Over?

Posted on August 18th, 2009 in Banking Crisis, UK Crisis

Over the last two weeks there has been lots of telling economic and financial data from which some commentators have drawn the conclusion that the worst of the economic and financial crisis is over.  We set out here to examine this data and determine if these commentators are right by looking at the banks, stock [...]

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  • @TheLeftBanker

    • RBS £2 billion loss not as BBC reports £776 million. Twice as big as forecast. 3 hours ago

    • @BharatKAzad I think so with Portugal 6 months behind and Spain another year 21 hours ago

    • Greece mark II: Portuguese opposition demands €30 billion more of a bailout to keep country afloat 21 hours ago

    • @aidanskinner hedge funds been putting this trade in droves spreading risk over several banks. They now hold about 30% of Greek debt 21 hours ago

    • Greek debt swap deal may fail as hedge funds & other investors would be better off with default and collecting insurance it would trigger 21 hours ago

    • Euro crisis goes global: Preliminary Chinese manufacturing figures for February shoes a contraction. 23 hours ago

    • Euro area manufacturing & services output drops in February. Recession on the way. 23 hours ago