The Perfect Storm

12th December 2008

It was in September 2007, just after the collapse of Northern Rock, that we touched on the emerging financial crisis in this column for the first time. Back then, in an article entitled “Midsummer Madness”, we wrote “it is very difficult to predict what will happen to the real economy when the dust finally settles, but it is unrealistic to think that there will be no adverse
knock-on effects.”

With hindsight, this was a bit of an understatement but
the events in the financial markets over the past 15 months have been quite extraordinary and totally unprecedented. In many respects, it represents the perfect economic storm. However, for much of the past twelve months, the financial crisis was merely just an abstract news item to many people. Today, the situation could hardly be more different.....

Click Here for the full article

Click Here to go back to news headlines