The Bank of England slashes interest rates to their lowest level since 1955; the ECB cuts too.
Economist Staff, The Economist
November 6, 2008
In the short run this will be somewhat of a stimulus, but in the long run it does not fix the leaks in the economy from mismanagement and poorly designed financial models and instruments. The economy in Europe, Americas and Asia is now intertwined like a network shall I say transnational economies with a transnational characteristic. Therefore transnational economic policies have to be implemented.
Posted by Jon Tay | November 06, 2008 03:13 pm© CFO Publishing Corporation 2009. All rights reserved.