Top financiers from the Treasuries and central banks of the UK and the US took part in massive financial war games, behind closed doors in Washington earlier this month, to test how to handle another catastrophic, impending bank crisis. .
After the financial implosion of 2008 which led to multibillion taxpayer bailouts in places like Ireland, of Anglo Irish banks, along with the Royal Bank of Scotland and Lloyds Banking Group, policymakers from both the City of London and Wall Street, were preparing for the next and probable final impending meltdown.
The British chancellor, George Osborne and Mark Carney, governor of the Bank of England stayed on at the end of the International Monetary Fund and World Bank meetings to take part in a financial war exercise, held at the Federal Deposit Insurance Commission.
They were joined by the chairman of the Federal Reserve, Janet Yellen, the US treasury secretary, Jack Lew along with other regulators from Britain and America, to test how they would respond to the impending collapse of American banks, along with their UK operations and all of the British banking system.
The war game, ring-fenced the retail operations of banks and their investment arms at global level.
Osborne said:“No war game is like the real war itself, but a fresh recession, has been a dominant theme with the Euro being the biggest threat, to the world and UK economy in particular, with a deteriorating outlook for its biggest trading partner.
This is a critical moment for the British economy and the world economy, as serious clouds are gathering on the horizon. There are serious risks to Britain’s growth from the euro zone and we are seeing some of them materialize.” The chancellor further stated that the euro zone finance ministers and central bank governors knew they were “under the microscope, they know they have some questions to answer.”
Osbourne has bunged another 100 million pounds sterling, of British taxpayers money, to the loyalists in British Occupied Ireland again this weekend, in an emergency measure, to try keep them on board and afloat like Scotland. However Roy Keane, who hails from the rebel county of Cork, the assistant manager of the Republic of Ireland, is boycotting the Stormont regime, as he is a big fan of Eire Nua and federalism, is not at all happy. He believes Ireland and Man U have been phuked over.
