when do you think the credit crunch will end

Lets face it..(& i'm normally positive) The country is losing money and jobs at a staggering rate!! The Polish were laughed upon while they came here in their hundreds of thousands to work for a lot less than the Oirish Man and Woman.. They saved and saved and left this country with a lot of cash.. Now they are taking our good aul friendly American companies such as Dell to Poland, leaving the country with less cash and less jobs!! Even Oirish developers have jumped ship and set up in Poland!!!

Yes, we did the same in the States many years back and took their companies here but they had a population over 100 times BIGGER than ours!!

It was reported yesterday that 5000 jobs a week are being lost at the moment!! 5000 a week!!! Tell me, how does a country as small as ours recover from that...

Sorry but one word and one word only has brought this country to it's knees... "GREED"

There are signs that the credit crunch is easing - the three month EURIBOR is now only .192% above the ECB rate, where at one stage it was well more than 1% over. Traditionally it was less than 0.1% This is effectively a measure of how much the banks trust each other and are willing to lend to each other. I can only guess that this means that the shakeout of banks is nearly over The upshot should be a more fluid interbank market, and an easing of credit somewhat.

My view is that the credit crunch is nearly over. The problem is that we have to deal with the aftermath of it now.

LIBOR rates are only an indication that banks are lending to each other at lower rates - how much of this is due to the govt guarantees & are they lending to 'main street'?
The deleveraging process is nowhere near an end, and we will know the credit crunch is over when banks start lending to business again (which won't happen at a normal level until they have filled the holes in their balance sheets).

Towger said:

With very high inflation snapping at it's heals. This will then help to erode the loans of those with huge borrowings, while those with savings will take the hit.

Click to expand...

Couldnt agree more about the inflation. Printing lots of money = inflation. So interest rates will have to go back up again.