£100bn plans against the Eurozone crises
On Thursday 14 June the British Chancellor George Osborne announced a big programme to support the UK economy and to cope with the worsening of the Eurozone situation. The Chancellor of the Exchequer and Sir Mervyn King, the Governor of the Bank of England, have announced a £100bn UK investment plan over the next 12 months.
The Bank of England will try to revive the British economy by working on two main fronts: providing discount loans to banks on the condition they give cheaper loans and mortgages to businesses and households, thus granting banks the liquidity they need to overcome the Eurozone turmoil.
The scheme was well received on Friday, 15th of July 2012, resulting in some 6% rise of bank shares.
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