Optimism despite predictions of global recession
Thursday 23rd October 2008, 2:29PM BST.
NOWHERE can insulate itself from the likely global recession, Prime Minister Gordon Brown warned yesterday.
And Treasury and Resources minister Charles Parkinson admitted that islanders would feel the effects. Mr Brown acknowledged for the first time yesterday that the UK was heading for a recession as a result of the global economic downturn.
During questions in the House of Commons, he said he agreed with Mervyn King, the governor of the Bank of England, who had conceded that the UK was on the brink of a painful and prolonged recession.
Deputy Parkinson said the States did not collect enough data to know if Guernsey was in a fully-fledged one already.
‘I’m very sure we will be impacted by it, but we hope that the impact here will be less than other places,’ he said.
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Deputy Parkinson said the States did not collect enough data to know if Guernsey was in a fully-fledged one already.
‘I’m very sure we will be impacted by it, but we hope that the impact here will be less than other places,’ he said.
The above two paragaphs are CUT & PASTE.
What is interesting about them though is the fact that although data might not be an issue, if anybody chooses to believe this? Figures tend to speak for themselves. Can we have the facts on these then? Maybe the answer we will get to this is the automated systems have gone technical?
How much of a leathering has our financial institutions received over the last three months is a crucial question that I would like answered. Will we receive the answers when it is far too late to do anything about them. This wil be the classical local outcome?
I won’t hold my breath because we are so well regulated that it won’t be in our BEST INTERESTS OR THAT OF OUR LEADERS BAILING EACH OTHER OUT OF THEIR MESS?
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