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Archives|DISTRUST CAPITAL LEVY.; British Think it Will Accentuate the Flight of Funds.
DISTRUST CAPITAL LEVY.; British Think it Will Accentuate the Flight of Funds.
But he said he expected the rescue package to calm fears and prevent a flight of funds.
The extraordinary figures back up anecdotal evidence that it is not just the super-rich behind the flight of funds.
Some €2bn of deposits have been withdrawn from Greek banks so far this week – including a record €1bn yesterday – triggering fears that a breakdown in talks would spark a further flight of funds.
Keynes, for the UK Treasury, wrote: "There is no country which can, in future, safely allow the flight of funds for political reasons or to evade domestic taxation or in anticipation of the owner turning refugee".
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Elsewhere, the sudden dearth of foreign-bank lending and the flight of hedge funds and other investors from bond markets has slammed the brakes on credit growth.
Sterling also benefited from the flight of eurozone funds to trade near to six-year highs against the euro reached last week.
This, says Citigroup, is the end of the cult of the equity — extinguished by two 50 percent bear markets (after the dot-com mania and then the credit bubble), a glut of equity issuance and the flight of pension funds from shares to bonds.
"The African Economic Research Consortium (AERC), established in July 1988, is a public not-for-profit organization devoted to advanced policy research and training". Search all online publications for "Nigeria" "Capital flight and flow of funds". by Victor Murinde, Chris Shimba Ochieng, and Qingwei Meng.
Worries over the survival of the euro have led to a flight of dollar-denominated funding, leaving European banks desperately short of the currency used to finance much of the world's trade.
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