Tuesday 7 July 2009

No job today... what about tomorrow

What about this message:
If you are 35 years old, have only ever worked in the City and have lost your job, then the chief executive of Britain’s biggest listed recruitment company has a grim message for you on the prospect of a recovery in financial sector employment: “Those jobs have gone and they’re not coming back any time soon.”

These are the words of Alistair Cox from Hays Recruitment.
And I think the guy is right. Especially with what the ECB has in mind, things never will come back as they were. A draft report is expected today from the EU and this report states that there us a strong case for curbing existing rules on banks’ funding needs, accounting reforms and other policy changes in order to prohibit banks to lever themselves again to the tune of 30-1.
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