Deja- Vu or here we go again

Deja- Vu or here we go again
Posted on September 09, 2011 |

Here we are again, as if we have never left, the headlines are the same as 2008, banks in trouble, blah blah blah.


What I find amazing is that this could have been averted almost a year ago if the the European Central Bank had acted decisively when the Greek crisis emerged. Instead of action, they fudged and fumbled along, national issues taking precedent over European issues, and by using sticking plasters instead of life saving surgery. Amazingly, the patient simply got worse.


The fear of a Greek default, ( which is now almost certain to occur) has created a liquidity squeeze on most European banks. Dexia is just the first of many that will require funding According to the FT, the figure of €200 billion is just enough to cover the provision against debt by Portugal, Ireland & Greece. That beggers the question of how about Spain, Italy & Belgium? Does the ECB have enough firepower, and crucially political will  to sort this whole question out?


According to newspaper reports, banks in  Germany, Italy & France are looking at shortfalls. This will simply increase the liquidity squeeze, and that will affect all of us.


So we all wait until the next Euro Summit, when all will be revealed, and the Germans & French will have saved the Euro, and the Euro Zone, but don’t hold your breath !


That is the bad news, however, the UK is still moving forward, Just, I know but still forward. We can either say as Frazer in Dad’s Army say “we are all doomed”, or we see what is actual happening, franchisee’s are expanding, opening more outlets, they know to stand still is really to go backwards. At Oak Leasing we are very active in our support for new start business, and are always willing to assist also  established business in expanding and even to help  establish new & valuable credit lines for those companies whose banks are simply moving away from their customers.


Come and visit us at, and see how we can help you grow in the face of challenges, both in the UK & Europe