Shaking the UK Piggy Bank For the people who are waiting for the economy to be great again before they borrow from their bank, they may want to hear this news. According to Financial Services Authority chairman Lord Turner, there will be a lot of changes in the United Kingdom banking system. After loose lending led to the current recession they are experiencing, they have decided to curb some of the lending even during the times when the economy is good. The problem ... Read More

Financial Services Authority chairman Lord Turner does not think that Britain will experience the economic meltdown of Iceland.   The chief Financial watchdog stated that the country could afford the costs of its bailout package. He added that concentrating on the large foreign liabilities of firms will only do no good for the country’s economy.   Lord Turner also suggested that an international watchdog to monitor global financial regulation be established. The economy of Iceland collapsed last year following Iceland government’s ... Read More