Article Image
News Link • Economy - Economics USA

Crisis Awaits World’s Banks as Trillions Come Due

• Nytimes.com/
 
“There is a cliff we are racing toward — it’s huge,” said Richard Barwell, an economist at Royal Bank of Scotland and formerly a senior economist at the Bank of England, Britain’s central bank. “No one seems to be talking about it that much.” But, he added, “it’s of first-order importance for lending and output.” Banks worldwide owe nearly $5 trillion to bondholders and other creditors that will come due through 2012, according to estimates by the Bank for International Settlements. About $2.6 trillion of the liabilities are in Europe.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Free Talk Live