topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2270.63 -0.42
DAX 6788.8 0.59
IBEX 30 8902.1 0.60
CAC 40 3424.71 0.43
FTSE 100 5895.47 0.33
AEX 325.12 -0.06
DJIA 12890.46 0.05
Nasdaq 2927.23 0.39
FTSE MIB 16653.83 -0.09
TSX Composite 12497.94 -0.18
ASX 4357.1 -0.15
Hang seng 21010.01 -0.04
Straits Times 2981.17 -0.03
ISEQ 20 503.71 0.33
You are here: Home News Dutch News Financial crisis 'far from over'

Dutch News

archive
Enlarge font Decrease font Text size


01/04/2009Financial crisis 'far from over'

Swiss watchdog says the recession could damage more institutions.

GENEVA - The financial crisis is "far from over," the director of Switzerland's markets watchdog assessed Tuesday, noting that fresh shocks could bring down more institutions.

"The crisis has substantially weakened many organisations. While the markets have calmed down a bit, they are still fragile," said Patrick Raaflaub, director of the Swiss Financial Market Supervisory Authority (FINMA).

"Fresh shocks could result in further price falls, and even threaten the solvency of some institutions."

Speaking at FINMA's annual conference, Raaflaub said a recession was in "full swing," and added that "the crisis is far from over."

"The economic slump is causing increased credit defaults, forcing banks to take write-downs and in turn placing a higher claims burden on insurance companies," he said.

Government aid programmes, including the nationalisation of some banks, are "damaging international cooperation in these difficult times" as politicians act for domestic interests, he said.

Raaflaub also said the political and economic climate was "raising doubts about the viability of established areas of business and even entire business models."

AFP / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating


0 reactions to this article

Be the first person to add a comment
Discussion Forums

Legal Problems in the Netherlands

KM partner can be treated as EU memeber in paying tuition fee?

Student Forum The Netherlands

Uni fees - questions

Legal Problems in the Netherlands

Problem with Internet Provider

Legal Problems in the Netherlands

KM -> PR -> Citizenship

Legal Problems in the Netherlands

Stopping Naturalisation Process

participate in the forums

Inside Expatica
Setting up home in the Netherlands

Setting up home in the Netherlands

A guide to telephone, internet and television along with utility services water, electricity and gas in the Netherlands.

Dutch immigration and residency regulations

Dutch immigration and residency regulations

Lost in the Dutch immigration system? Look no further than this guide compiled for our Survival Guide 2012.

A brief introduction to the Netherlands

A brief introduction to the Netherlands

Expatica offers a whistle-stop tour of life in the modern Netherlands.

Giving birth in the Netherlands

Giving birth in the Netherlands

The challenges and benefits of the maternity system in the Netherlands and how it differs to other countries.