USA and UK banks propose a safer future

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Banking authorities in the UK and USA have revealed plans that will limit damage caused by banks falling in to financial trouble. The proposals have come from the Bank of England and the Federal Deposit Insurance Corporation, which is the US institution that would compensate savers if a bank went under and also tries to limit the effects of bank failures on the economy.

The plans detail one national regulator who would be responsible for overseeing the insolvency of larger international ...

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Further tax increases and spending cuts expected in Ireland

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The Irish government is due to present its sixth hard-hitting budget since the collapse of the country’s Celtic Tiger economy. It is expected that the government will propose a further tax rise and spending cuts as they hope to save another 3.5 billion euro.

Since the bailout of Ireland in 2010 the government has been forced to adhere to strict spending limits set by the EU and International Monetary Fund. By continuing the adhere to the guidelines the country  has earned ...

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UK economic contraction predictions improve for 2012

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The British Chambers of Commerce (BCC) has estimated that the UK economy will shrink by 0.1% this year, less than the 0.4% contraction it had predicted previously.

This improvement was said to be due to, “stronger-than-expected” growth in the last quarter, helped by the Olympic Games.

The BCC also estimate that the UK economy will see a growth of 1% for the whole of 2013, down from the 1.2% it had forecast in September.

Director-general of the BCC, John Longworth said, “As we ...

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