A glimpse around the financial sections of the British press.

A glimpse around the financial sections of the British press

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FINANCIAL HEADLINES  6.8.08
-Financial  Times
GDP cut holds up German recovery
The German economy unexpectedly contracted by about 1 per cent in the 
second quarter, it emerged on Tuesday, the clearest sign to date that 
the robust recovery in Europe’s largest economy is coming to an end.

Italians approve cuts in spending
The centre-right government plans to make close to €30bn in cuts in 
public spending over the next three years to balance the budget and 
meet EU requirements

Harsh reality dispels Swedes’ holiday mood
Consumer confidence falls to a 13-year low, unemployment hits 8.1% 
and inflation rises to a 15-year-high of 4.3% as the economy performs 
worse than forecast.

-Times
Repossessions rise 40% as arrears worsen
A total of 45,000 are expected to lose their homes this year as more 
homeowners struggle to meet repayments

-Guardian
A year on, debts worsen at Northern Rock
Critics claim taxpayers' money is at risk as government pumps £3.4bn 
into British bank• 'We could be in this situation for years'

-Telegraph
Northern Rock in £3bn bail-out from taxpayer
Taxpayers are to provide more than £3 billion to Northern Rock which 
is unlikely to ever be repaid in another emergency bail-out package 
to keep the nationalised bank in business