Markets braced as Ukraine gets IMF bail-out

Markets braced as Ukraine gets IMF bail-out

www.telegraph.co.uk

Markets are braced for another turbulent week as Ukraine added to growing fears about the world’s economic health after securing a $16.5bn (£10.4bn) emergency loan from the International Monetary Fund yesterday.

In Britain, sterling is expected to come under renewed pressure this week following its sharp collapse on Friday when the economy suffered its first quarterly contraction in 16 years. The pound crashed more than 3½ cents against the dollar to $1.5837, and experts predict it could slump as low as $1.40 in the next few weeks.

Pressure is mounting on the Bank of England to intervene with an emergency interest rate cut to help the ailing economy. Dr Gerard Lyons, chief economist at Standard Chartered, said an “immediate inter-meeting cut” was needed, calling for the Bank to slash rates by at least 1pc.

(visit the link for the full news article)

Another country in the pit of doom.

Argentina is on the brink of collapse, even if they took the pensions funds... Australia froze accounts, the US is gonna be bankrupt in a few months, Russia is on the brink too... Even Switzerland is in trouble! Oil going down is also gonna bankrupt the middle-east countries... this is gonna be good.

And of course, Asia markets were a bloodbath, Hang Sang falling 13%, Thailand market closing because of high losses, NIKKEI losing about 6.XX%, Europe going down 5% so far... and of course DOW futures down 400 points...

Yes, the crisis is NOT over and we ain't see nothing yet. This whole crisis will sure help democracies and international stability ain't it? NOT. A lot of countries will think of war to either conquer natural ressources or divert attention from the problems at home...

www.telegraph.co.uk
(visit the link for the full news article)

[edit on 27-10-2008 by Vitchilo]

reply to post by Vitchilo


Yah, I can't figure out why the suspension of investment accounts in Australia though.

I know they are just trying to stave off a total collapse, but did they ever think of the consequences?

A man cut off from his money, left with $5??

www.news.com.au...

I think the account freeze is actually more self destructive than helpful

reply to post by Vitchilo


Good news! The dow is only down 200 right now instead of 400. If that isn't a sign of a sure economic recovery, then I don't know what is.

Originally posted by Vitchilo

Russia is on the brink too...

That's interesting. You don't hear the Russians while their stock market has been closed out of desperation several days in the last three months. Look at the chart how much it has lost over the past months: From more than 2000 to about 500 points.



OPEC countries, and in particular Russia, Venezuela and Iran are ''not amused'' by the constantly falling oil price.

[edit on 27-10-2008 by Mdv2]

Europe on the brink of currency crisis meltdown
www.telegraph.co.uk...

This analisys shows how much is European economy on the edge to brick. My country is the next...

Originally posted by Mdv2
That's interesting. You don't hear the Russians while their stock market has been closed out of desperation several days in the last three months. Look at the chart how much it has lost over the past months: From more than 2000 to about 500 points.

Moscow stock exchange slumped 75% from peak in May.