The possibility of further market slides are obvious enough.Panic and greed has seized the world markets. The question is quite simple,"Will the Government Institutions intervene"? If so, for how long.? That, "Israel may be unique", this writer does not believe so, what we are seeing is a world wide credit crunch where the banks are even afraid to lend money to each other. Switzerland`s,National Bank has just lent billions of euros to the Bank of England.
Governments, will have no choice to intervene should the slide continue unabated,PM Mr.Brown, has finally found his special niche, the saving of British Banks. Mr.Bar On, on the other hand speaks of deposits, as if that is reason enough for evading the hard decisions that will soon be made. I wonder how many billions of dollars worth of Israeli Stock was wiped off the boards in New York trading this last week.? |
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