Another sign it is coming:
The UK Finance Minister George Osborne is on the wires saying that the Bank of England and the UK Treasury have agreed to ease credit.
At the same time, central banks from major economies stand ready to stabilize financial markets and prevent a credit squeeze should the outcome of Greek elections on Sunday cause tumultuous trading, G20 officials told Reuters.
"The central banks are preparing for coordinated action to provide liquidity," said a senior G20 aide familiar with discussions among international financial diplomats. His statement was confirmed by several other G20 officials, according to Reuters.
The G20 finance ministers have scheduled a working dinner on Monday and lunch on Tuesday, at the G20 summit of world leaders who will gather in Los Cabos, Mexico.
The DT has some dtails of Gideon Osborne's stupidity:
ReplyDeletehttp://www.telegraph.co.uk/finance/financialcrisis/9332570/140bn-to-kickstart-stagnant-economy.html
He says: "“We are rolling up our sleeves and doing everything possible to protect British families and firms.”
I wish he wouldn't.
Sorry, I'm with Durden on this one.
ReplyDeletehttp://www.zerohedge.com/news/here-comes-mother-all-rumors-g-20-sources-say-central-banks-preparing-coordinated-action
more
http://www.zerohedge.com/news/coordinated-rumor-ramps-risk
Durden(s)
Delete... and me as well.