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FSA issues stark warning
FSA issues stark warning
Last Modified: 29 Jan 2008
By:
Bridgid Nzekwu
The banking regulator today issued a serious warning that consumers could lose confidence in the banks.
The financial services authority also said that other financial institutions, like Northern Rock, could fall victim to the global credit squeeze.
The FSA added that a significant minority of customers could experience problems because of their high levels of debt.
The warnings came as the big four EU countries, Germany France Italy and the UK issued a statement saying financial turbulence has increased the risks to the economy.
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