After the past few weeks, in which the financial system almost ground to a halt, governments of the industrialised world seem at last to have found the right tools to get credit markets moving again. Officials in Europe, America and Asia announced unprecedented and comprehensive plans to prop up failing banks, guarantee their loans and flood the world with cash by providing unlimited dollar funds through central banks. At first blush the new plans seem to be working. Stockmarkets rose around the world this week, although the real sign that the situation is improving will come in the credit markets by the end of the month.
Joannes Verhoest
Source: The Economist
1 opmerking:
Excellent text: clear and coherent, interesting topic. I couldn't figure out what Economist article served as the source of this text (plse provide direct link next time you do this), but I'm assuming you've rewritten the original report in your own words, right? Well done indeed!
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