Reversal of fortune

Article Abstract:

The banking industry of eastern Europe has seen stock price falls since summer 1998, when Russian banks faced problems. There are wide variations in the health of eastern European banks, and some are relatively strong following sensible reforms, as occurred in Hungary and Poland. Slovak and Czech banks are not as strong. The Czech route to privatization left many banks running investment funds, so they had less incentive to restructure their loans.

Eastern Europe, Statistics

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Hands off: monetary policy

Article Abstract:

The Bank of England, independent from government control since mid-1997, has controls in place to prevent it from fueling inflation. The chancellor retains a great deal of control, and appoints the majority of members to the monetary policy committee (MPC). There is still some debate, however, on how Parliament, the chancellor, the MPC and the Treasury select committee will work together to keep the economy and the bank's policies in harmony.

United Kingdom, Bank of England, Economic policy, Brown, Gordon (British politician)

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Turning the prophet's profits

Article Abstract:

There are a growing number of banks that cater to traditional Muslims, with alternatives to interest in loans, which is forbidden in the Koran. There are two drawbacks to these banks, however: religious argument over procedural standards and the difficulty of long-term financing.

Economic aspects, Finance, Religious aspects, Muslims, Islamic countries

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