Ca­ble warns on debt lev­els

Yorkshire Post - - SPECIAL REPORT -

LIB­ERAL DEMO­CRAT leader Sir Vince Ca­ble has said that while banks are bet­ter funded now than a decade ago, risks were still present in terms of high lev­els of debt.

He told The Yorkshire Post: “I think the risks this time are dif­fer­ent, I don’t think there’s any danger of the banks col­laps­ing, they are these days much safer, they’ve got much more cap­i­tal, but there are quite a lot of other fi­nan­cial in­sti­tu­tions where a lot of the high-risk, gam­bling be­hav­iour is taking place.

“There’s a mas­sive amount of debt in the coun­try – house­holds, com­pa­nies, gov­ern­ment – the econ­omy isn’t in a strong po­si­tion to face a fi­nan­cial cri­sis.”

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