Sunday 20 November 2011

Europe Fears a Credit Squeeze as Investors Sell Bond Holdings

http://www.nytimes.com/2011/11/19/business/global/lenders-flee-debt-of-european-nations-and-banks.html


UK’s bosses fear backlash from Europe

MANY of Britain’s biggest companies are scaling back investment and employment plans for next year amid fears of a second banking crisis brought on by the Eurozone, the country’s most prominent business group warns today.

On the eve of its annual conference, a bleak survey from the CBI reveals that 70 per cent of the UK’s captains of industry say their confidence has been badly damaged by the European financial and political turmoil that has been raging since August.

John Cridland, the CBI’s director‑general, said: “The risk it [the sovereign debt crisis] poses to the UK and world economy is getting ever greater.”