been falling during friday s trading as investors weigh up what stresses and problems may lie within them. concerns were sparked at the beginning of this week when switzerland s biggest bank ubs was forced to rescue its rival credit suisse. but fears seemed to ease as policymakers and politicians offered their ressaurances that their were no wider problems after the recent failures of two us banks. as you can see here, stock markets across europe are down. other banks to suffer on friday include barclays and natwest here in the uk as well as germany s commerzbank and spain s banco de sabadell. so the german chancellor has again been trying to reassure investors. translation: the banking system is stable in europe and the european union has supervisory structures in various areas, including the euro area, which have enforced strict rules and it has now proved its worth and enables us all to say that european bank supervision and the financial system are robust and stable. patr
situation? well, the key problem here is central banks situation? well, the key problem here is central banks have - situation? well, the key problem here is central banks have front l here is central banks have front loaded interest rate hikes to tackle inflation, without any regard for the, things breaking. you know many of the central bank heads have said, we are going to front load inflation, many to the tune of 75 basis points until something does break. well guess what, things are broken. that is the problem. do you think they were broken. that is the problem. do you think they were too broken. that is the problem. do you think they were too quick broken. that is the problem. do you think they were too quick in - think they were too quick in bringing the interest rate hikes the fed and the bank of england? absolutely. they were too quick and too soon. too quick and too large rather. what i would say is, yes, inflation is political and, yes, the caveat is central banks are