Sunday, November 25, 2007

Αγγλική οικονομία: το επόμενο θύμα?

CBI Chief Says Credit
Crisis to Hit U.K. Economy, Times Reports

By Kari Lundgren

Nov. 23 (Bloomberg) -- The global credit
crisis will have a ``notable effect'' on the British economy, said Richard
Lambert, director general of the Confederation of British Industry, the
London-based Times reported, without saying where Lambert made his

Lambert said there is uncertainty in U.K.
business, even among enterprises far removed from the financial industry, the
newspaper said...

Η Northern Rock πάντως, το πρώτο θύμα της πιστωτικής κρίσης σε Αγγλικό έδαφος, ακόμη και μετά τη σημαντική βοήθεια της τράπεζας της Αγγλίας εμφανίζεται να παρουσιάζει ξανά σοβαρό πρόβλημα εξυπηρέτησης των υποχρεώσεών της...:

'An investigation into Northern Rock shows £53bn of mortgages owned by off shore company.

Fresh doubts emerged last night about Northern Rock's ability to repay the £23bn of taxpayers' money it has been lent by the Bank of England.

A Guardian examination of Northern Rock's books has found that £53bn of mortgages - over 70% of its mortgage portfolio - is not owned by the beleaguered bank, but by a separate offshore company.

The mortgages are now owned by a Jersey-based trust company and have been used to underpin a series of bond issues to raise cash for Northern Rock. It means the pool of assets available to provide collateral for Northern Rock's creditors, including the Bank of England, is dramatically reduced, calling into question government claims that taxpayers' money is safe.

The same investigation reveals just how vulnerable the bank is to a cooling property market and demonstrates the scale of Northern Rock's exposure to mortgages where customers have borrowed heavily against their homes...

Σχετικό άρθρο της Gardian (Παρασκευή 23/11) για την Northern:

'Revealed: massive hole in Northern Rock's

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