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Initial crisis over, but market fall-out just beginning predict experts
Initial crisis over, but market fall-out just beginning predict experts
Last Modified: 22 Sep 2008
By:
Katie Razzall
Thanks to banking bailouts, experts predict major government borrowing will last at least another year.
While the immediate drama of the stock market crisis might be over, with borrowing up and incomes down the wider consequences may just be surfacing.
And what with City jobs lost and share prices slashed falling tax revenues will not be able to make up the gap.
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After the collapse of the US sub-prime mortgage market, the global economy is in the throes of a credit crunch.
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