It’s not a great time to be a banker at the moment with financial apocalypse making the pin-striped gents probably more loathed than estate agents or journalists. Thousands of them have lost their jobs and those that are still in paid employment are finding that their renumeration packages are coming under ever greater public scrutiny.
Since building society Northern Rock went belly up, Prime Minister Gordon Brown’s mantra has been to link Britain’s economic problems to credit flows seizing up due to the subprime crisis in the United States.
from Global Investing:
If there's one thing you don't want to be, it's the next Iceland.
Since its currency, colossally indebted banking sector and economy collapsed in spectacular fashion in October, the country has become a byword for an economy that has truly hit the rocks.
Saturday: A worker changes a sign in the window of the Woolworths store in Ashby de la Zouch in central England on December 27, 2008. Woolworths collapsed into administration in November and its administrators said earlier in December that all its stores would close by Jan. 5, with the loss of 27,000 jobs, unless a last-minute buyer could be found. REUTERS/Darren Staples
Wednesday: A homeless man sits outside the entrance to Green Park Tube Station in central London on Christmas Eve, while a man and a woman kiss goodbye after a shopping trip. There was yet more evidence this week that the world’s economies are limping into the new year, with Britain contracting more sharply than first thought and further signs that the U.S. economy is in a sharp decline. REUTERS/Andrew Parson
from The Great Debate UK:
(UPDATED Dec 18 - This post is now closed for questions)
Conservative Party leader David Cameron will be speaking on the economy and the credit crunch at Thomson Reuters' Canary Wharf office on Monday, followed by a question and answer session.