Word: withdrawals
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Some joined the queues before dawn. Many waited in line for days. But among the armies of customers to besiege Northern Rock bank branches in recent days, there was a common cause. "I'm doing what everybody else is doing," one elderly man, waiting to withdraw his money from a branch in northern England, told reporters. That meant "panicking. I'm joining the herd...
...waning. But it took a bold intervention by the U.K government to accomplish. Hoping to stem depositors' panic about the Northern Rock's solvency after it announced last week that it had requested an emergency line of credit from the Bank of England (lengthy lines of customers waiting to withdraw their savings have been a frequent sight outside Northern Rock branches for days), Alistair Darling, Britain's Chancellor of the Exchequer announced yesterday that the government itself would guarantee the bank's customers' money in the (very unlikely) event it failed. His office, he said, would "put in place arrangements...
...gilt-edged guarantee (since, even theoretically, it has put U.K. taxpayers on the hook to bail out a business that supposedly lived and died in the free market) was enough to calm the markets Tuesday. While some of the Newcastle-based bank's savers still waited in lines to withdraw their cash, the bank's stock rose 11% in early trading, halting the freefall that has halved its share price since Thursday...
...warned he would block Macedonia's efforts to join NATO and the European Union unless a decade-long dispute over the name of the neighbouring state was resolved. The threat sparked a diplomatic tiff between Athens and Skopje since the debate, with Macedonian President Branko Crvenkovksi saying he would withdraw from the U.N.-brokered name talks if Greece vetoed his country's designs to join NATO. Greece argues that Macedonia's name implies territorial claims against its region of the same name...
...popular in Japan, and concerns grew that the country had become too close to the U.S. Abe never adjusted his priorities, and he paid the price at the polls. Though he said that the LDP would still fight to renew the Afghanistan bill, insiders have suggested the party may withdraw the bill in the face of opposition from the DPJ and the public. If that happens, Japan will likely return to the arm's-length relationship it had with America for most of the Cold War, and the country, consumed by domestic fears, could turn inward...