Bankrupt Britain and other International Economic News

Systemic Economic Crisis: The Sequence of Global Insolvency Begins – Global Research 1/17/09

World economic outlook on downward trend, IMF – Global Research 1/23/09

Globalization and Poverty – Global Research 12/30/08  

Declaration of the Assembly of Social Movements at the World Social Forum 2009 – Global Research 2/4/09

Global Depression. This Doesn’t Look Good: Taiwan, Korea and China Exports Tank – Global Research 1/18/09

Obama team accuses China of manipulating its currency – Global Research 1/24/09

Corporate Profits Plummet In Japan  – Forbes 1/1/09  

Operating profits slump 23% after peaking in early 2007. 

Hyperinflation will begin in China and it will destroy the dollar – Market Skeptics 1/18/09

Riveting narrated slideshow of the world’s slums: The Places We Live – Boing Boing 1/27/09

Europe’s economy contracts at rates not seen since 1930s – Telegraph, UK 1/9/09

Bankrupt Britain – Sunday Herald, Australi 1/24/09

We’ll have to go begging to the IMF, says Cameron – Independent, UK 1/23/09

Britain risks bankruptcy and a humiliating bailout by the International Monetary Fund (IMF) because of Gordon Brown’s borrowing, David Cameron said yesterday.

Will the UK Lose its AAA Credit Rating? – George Washington blog 1/20/09

First Iceland, Greece and Spain lost their AAA sovereign credit rating.  Now, Bloomberg notes:  “The U.K. government may lose its top AAA credit rating after taking a 70 percent stake in Royal Bank of Scotland Group Plc, credit-default swaps show.”

British banks are ‘technically insolvent’ (and other secrecies) – Global Research 1/20/09

UK throws banks a lifeline as RBS posts record loss (Reuters)  – Yahoo 1/19/09

Britannia and Co-operative to create £70bn ‘super-mutual’ – Guardian, UK 1/21/09

Britannia building society and the Co-operative’s financial arm yesterday agreed a £70bn “super-mutual” merger with the financial muscle to acquire other societies and insurers in the first new-model institution to emerge out of the rubble of the credit crisis.

Britian Banks Just Hours From Collapse – Implode Explode 1/25/09

“Narrow escape: The Bank of England was forced to contact RBS’s creditors abroad to persuade them not to withdraw their funds Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown’s Ministers has revealed.”

Dublin nationalises Anglo Irish Bank – Implode Explode 1/16/09

“The Dublin government on Thursday night nationalised Anglo Irish Bank, the Irish Republic’s third largest lender, which has seen the collapse of its share price accelerate in recent days amid fresh reports of large-scale deposit withdrawals.” 

Bank cuts rates to 315-year low to boost lending – Financial Times, UK 1/8/09

Lloyds forfeits $350m for disguising origin of funds from Iran and Sudan – Guardian, UK 1/9/09 

Rioting Greeks, angry Germans and why the euro may well collapse – Daily Mail, UK 1/28/09

Germany agrees 50bn euro stimulus – BBC 1/12/09

Deutche Bank racks up $6 million loss – CNN 1/14/09

Spain’s unemployment swells to 3.2 million – Raw Story 1/23/09

Economic Crisis: Confronting Industry Shutdowns in Canada – Global Research 1/14/09

Brazil holds ‘alternative Davos’ – BBC 1/28/09

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