It's difficult to get too upset when someone takes out a loan because a significant other has found the unemployment line or some other
major financial shock has come home to roost.
The central bank, based in Frankfurt, used typically understated and technical language to describe its actions, but it appears to have done what its leadership said throughout 2011 that it would not do: namely, flood the financial markets with euros in a Hail Mary attempt to make sure that the region's sovereign debt crisis does not lead to
a major financial shock.
How has this happened, when everybody from the Bank of England to the International Monetary Fund, from Barack Obama to Shinzo Abe, from the Trades Union Congress to the Confederation of British Industry, have all warned of
the major financial shocks in the near term and economic decline and geopolitical irrelevance in the long term after a vote for Brexit?
Not exact matches
The prospect of the first
major default connected with the Chinese shadow banking system sent
shock waves through the
financial markets of emerging economies.
When you look back on this moment in history, remember that many investors ruled out the possibility of
major losses over the completion of the current market cycle because they presumed relationships that could not be established in the data, and assumed the absence of any material economic or
financial shock in the coming years.
To conclude, over the past decade and in a very volatile world, Australia has achieved the inflation target, avoided a
major economic downturn, seen remarkably little variability in real economic activity in the face of enormous
shocks, experienced a fairly low average rate of unemployment, and had a stable
financial system as well.
Australia's
major banks are going to struggle to counter the proposition put by banking eminence David Murray that they should hold more equity capital to protect taxpayers against future
financial shocks.
While both trade and
financial shocks have worsened over the past year, the
financial shocks will likely be much milder than during the
major crises of the late 20th century, Ocampo said.
On the whole, the bank says the risks of a
major shock to the country's
financial system haven't gotten worse in the six months since the bank's last report.