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Europe In Perfect Financial Storm - Disaster Looms?

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posted on Oct, 10 2008 @ 04:54 AM
Morning this is my first ever post and thread. The economic situation has really worried me to the core and I really dont think it'll be long till disaster strikes the majority.

Europe's markets are sluggish to say the least today. FTSE is wobbling all over the place, while other nations haven't been so lucky. Last week the UK economy was hoovering 5300PTS now its barely scrapping over the 4000PT mark.

Justin Urquhart-Stewart, marketing director at London-based Seven Investment Management, said the world now faces a "perfect storm" with a banking system in crisis and a dramatically slowing global economy.

More than 400 points were wiped off the FTSE 100 Index in early trading - taking it below 4,000 points for the first time in five years.

It has since recovered slightly to around a 6.5% fall.


[edit: fixed long link]

[edit on 10-10-2008 by 12m8keall2c]

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