Almost Anyone Can Get Pay Day Loans
Nowadays, it’s no surprise to see how many more people from every socio economic background are almost forced into using pay day loans. Not too long ago only the very poor were using them, and this is the group that these loans were originally marketed to.
Denied: Trichet’s Control of ECB’s Bond-Buying Role
ECB President Claude Trichet’s attempt to mastermind an escape route for his organization from its responsibility of buying bonds from ailing European Union members was served a significant blow, when European chiefs unanimously denied his idea of providing relief to the central bank. According to the terms of the agreement made between the Euro leaders and ECB, the European Financial Stability Facility will be allowed to purchase bonds from Eurozone members directly; however, it will not be permitted to make purchases from the open market. Trichet also was unable to persuade his opposite numbers from letting ECB extend its financial support to governments’ debt buybacks.
An Unstable Future for Vietnamese Banks
If inflationary pressures aren’t handled properly by the Vietnamese authorities, then they may come back to haunt the country in the future. The growing rate of inflation coupled with unattended high credit growth and increasing borrowing costs are serious threats to the Southeast Asian Country’s economy, and the banking sector specifically. According to Standard & Poor’s Ratings Services, if these three issues are left uncontrolled by the Vietnamese government any longer, they could trigger an effect that has the possibility to quickly depreciate the asset quality.