Mindful Money’s news round-up: Wednesday 7th September 2011

7th September 2011

Story of the day:

From Reuters, even as anxiety over policy inertia, banking and sovereign debt crises dominate the headlines, a long-festering concern over the impact of ageing Western populations on stock markets is returning to add even greater gloom.

Baby boomer fears cast another pall over markets

And the best of the rest:

News from the UK:

In the Telegraph, George Osborne launched a spirited defence of the Government's austerity plans on Tuesday night, insisting they were Britain's only chance of sustainable recovery despite a worsening short-term outlook.

Chancellor George Osborne: UK 'ahead of the curve' in reducing deficit

Economists disagree with George Osborne according to the Financial Times, and say he should drop the 50p top rate of income tax "at the earliest opportunity" to boost growth, according to 20 high-profile economists.

Osborne urged to drop 50p tax rate

News from the Eurozone:

As Europe struggles to contain its government debt crisis, the greatest fear is that one of the Continent's major banks may fail, setting off a financial panic like the one sparked by Lehman's bankruptcy in September 2008, reports the New York Times.

In Euro Zone, Banking Fear Feeds on Itself

From This is Money, the Swiss National Bank placed a minimum exchange rate of SwFr1.20 against the euro in the largest intervention in foreign exchange markets in recent times. It said it will enforce the rate ‘with the utmost determination and is prepared to buy foreign currency in unlimited quantities'.

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