RTE 1 article What is the situation?
The UK banking sector is in a deep financial crisis.
The Bank of England is warning that the system is on the verge of collapse.
The Treasury has cut its overnight lending target for the next six months to £300bn.
The pound has fallen to a six-year low and the euro has fallen by half.
A huge wave of austerity measures has been imposed on the population, including a 10% tax increase, a cut in income tax and cuts to unemployment benefits.
A new economic policy review by the UK government, published last week, is expected to recommend further cuts to public services, including cuts in welfare benefits.
The UK economy has been growing at its slowest pace in more than a decade and unemployment has hit record highs.
The new austerity measures are likely to continue for months to come, and could result in a further recession in the near future.
What is the crisis in pictures?
The Bank’s chief economist, George Osborne, has said the UK is in its deepest crisis since the 2008 financial crisis and that there are now signs of a “systemic breakdown” in the UK financial system.
The crisis in the banking sector started in 2013 when a collapse in sterling caused a huge surge in demand for British-made debt, which led to an unprecedented housing bubble.
This led to a bubble in mortgage debt and a financial meltdown in the financial system that began in 2014.
It was the largest banking crisis since 1929, when the British Empire was in its final stages of financial collapse.
Since then, the economy has contracted at a faster rate than any other major economy in the world.
The British Government says that the economic damage to the UK economy will be “severe” as a result of the new austerity policies.
Many economists say the crisis is worse than the global financial crisis of 2008-2009.
This has led to warnings that the UK’s economy will continue to shrink and that it will be unable to absorb any more stimulus from the EU, IMF or other central banks.
Britain’s Chancellor of the Exchequer, Philip Hammond, said on Thursday that the country would be facing a recession in 2019 and 2020.
There are fears that the government will be forced to raise interest rates again in the next few months to protect the economy from a “severe recession” and that the Bank of Canada will cut its key interest rate for the third time in two years.
“I don’t think the economy is going to be able to recover from the impact of this recession,” said Paul Williams, professor of economics at the University of Exeter.
“But I think we can make some progress in the longer term by trying to get people out of debt and making the housing market more flexible, which is a really important element of the recovery.”
What are the main reasons for the crisis?
There are two main reasons behind the crisis: The Bank has been forced to cut interest rates in order to keep the economy growing.
The policy also allowed the Bank to maintain a bond buying programme, which has resulted in huge levels of public debt.
While the Bank is now reducing its overnight interest rate to below zero, the government still holds an emergency loan programme.
This is the money the government uses to borrow money to buy back bonds from bondholders.
Banks are already paying huge sums of money back to bondholders and the government has cut the amount of money that banks can lend.
In order to protect themselves from further cuts, banks have started to raise capital from private investors, including private equity firms and bondholders, who have been forced into selling their assets.
A lot of the money that is now flowing into the economy comes from the public sector and is held in the Bank’s Special Drawing Rights (SDRs).
SDRs are very short-term investments and they are often issued by private companies.
Why are there no signs of recovery?
The Government has promised to raise £20bn of additional emergency funding to the banks and the Government has announced that it would increase the interest rates it pays on the SDR to 0.75% on Thursday.
But a new report published by the Office for Budget Responsibility (OBR) says that this money is not flowing into financial institutions.
Instead, it is being diverted to a scheme to provide tax breaks to the wealthy.
That scheme has seen taxpayers give £9.8bn in tax breaks between 2010 and 2019, mainly to individuals.
The Government says it has made £12bn available in the first half of 2019 alone.
Other government departments have also been criticised for giving tax breaks, including the Department for Business, Innovation and Skills, which claims to have saved £5bn in the past three years.
This includes the Government’s plans to help small business.
Is there anything I can do?
It is not known what will happen to the money now being held in SDR bonds.
However, it seems clear that the banks are