Eurozone is Falling Down

The euro has fallen against the pound sterling and the dollar.  Apparently, the European Central Bank is going to slash interest rates again next week.  Inflation has fallen lower than expected and it’s all being blamed on lowering oil prices.  The UK might also cut rates again as of next week, bringing them to all-time lows.  The USA can’t take theirs down any lower….

Also announced today is that the FSA are going to lift the ban on short-selling in the UK.  The ban was introduced back in Autumn 2008 when the practise whereby traders borrow shares hoping to be able to sell them at a later date was being blamed for too much volatility in the financial market, as well as the near-crash of banking giant HSBC.  MPs are said to be unhappy with the FSA’s decision to lift the ban and are arguing their case why this practise is the main factor in market distrust and panic.

An interesting start to 2009 indeed….

 

News source: www.whichwaytopay.com

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