“A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent. High levels of household debt – resulting from consecutive years of easy credit – mean even a moderate rise in interest rates could create profound financial struggle for one in four households in the UK. Despite a five year run of exceptionally low interest rates, many UK mortgage holders have struggled to pay their debts as a result of a troubled jobs market and very low wage growth, according to the RF.”
http://rt.com/uk/175368-debt-crisis-uk-recession/
Related posts:
California Gov. Shuts Down Luxury Bus for Techies
Apple, GE, and others could soon sell their products in Iran
Pepe Escobar: Obama set for holy Tomahawk war
ECB Admits It Slashed Purchases Of Italian Debt During Latest Political Crisis
Bizarre Zimmerman Protests Across the Country : LA, NYC, SF, Pitt.
The Next IRS Tactic vs. Expats and Accidental Americans?
TSA Goon Caught Stealing iPad By ABC News; Blames His Wife
Human Intelligence is Slowly Declining: Genetics Or Food?
The latest casualty in the global pension catastrophe is…
Sacramento Kings NBA Franchise Launches Bitcoin-Only Online Store
Obama Bombs Yemen Hours After Winning Reelection
Ten Thousand Commandments 2015
Online gambling gains momentum in US
FBI admits to flying drones over US without warrants
Google removes CyanogenMod Installer from Play Store