Credit Crunch To Intensify In 2009

According to a number of major banks throughout Europe, the credit crunch isn’t done with us yet and is likely to intensify during the next few months. With Britain’s major lenders having clearly tightened credit availability significantly in the past three months, they intend to make borrowed
cash an even harder commodity to get hold of during the coming first quarter of 2009.

Associated Press inform us that a recent survey shows almost the same gloomy tendencies and that the recession will worsen in the months ahead, where unemployment rates will most likely reach an all time high in several US states.

Stocks across Asia and Oceania suffered steep loses on Tuesday, following Wall Street’s sharp Monday loss, as confirmation of US recession and further falls in commodity prices give setbacks to exporters and oil producers.

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