EU finance puts British banks at risk
LONDON: The Bank of England has warned that the upcoming financial problems in Europe put British banks at high risk, according to the Financial Stability Report.
The latest half-yearly Financial Stability Report of the Bank of England, it is shown that new tests on the strength of European lenders and a clear solution to the financial problem that affects EU finance are needed. It also said that the "overheating" happening in progressing markets including China and India might affect UK lenders negatively.
Following the European Union leaders agreement to create a permanent mechanism -eurozone stability mechanism - - the Bank announced that any member state whose large public deficits threaten the 16nation eurozone should be bailed out.
Overheating in progressing markets, such as India and Indonesia, puts stock markets in those countries at historically very high levels increases property prices in China. - PB News