According to Gordon Brown, the global financial market has ceased to function. Official action became very urgent, because the banks couldn’t manage it on their own. In general, there are three related problems: the banks need capital due to big losses, but they can’t contract long-term loans, nor short-term loans, caused by the close money markets. The British plan wants to tackle the crisis on all fronts to get the market working again; they’ll inject £50 billion into the banks, they’ll lend to banks to clear the market for short-term liquidity and finally £250 billion will be used to take over bank debts. It’s not sure the plan will work, but it is already a great refief and this could only be a succes if other countries also act.
link: http://www.economist.com/finance/displaystory.cfm?story_id=12381995
Thomas Theys
1 opmerking:
According to Gordon Brown [what is his function? explain!], the global financial market has ceased to function. Official action became very urgent, because the banks couldn’t manage it [drop 'it'] on their own. In general, there are three related problems: the banks need capital due to big losses, but they can’t contract long-term loans, nor short-term loans, caused by the close [?] money markets. The British plan [which plan? you have not mentioned this before in your text...] wants to tackle the crisis on all fronts to get the market working again; they’ll inject £50 billion into the banks, they’ll lend to banks to clear the market for short-term liquidity and finally £250 billion will be used to take over bank debts. It’s not sure the plan will work, but it is already a great refief [spelling!] and [linking not OK] this could only be a succes [spelling: success !!] if other countries also act.
You have 5 sentences instead of 4. Topic sentence not OK: it does not summarize the rest of the text.
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