The paper discusses the possibility of a systemic banking crisis as a result of debt defaults, putting this risk and its impact on the economy into recent historical context. It looks at the vulnerability of the personal and business sectors to increases in borrowing rates, and at the evidence...

Department of Communities and Local Government economics paper No. 3

* This is a summary of the full article: "The Labour Government's economic record and economic prospects", taken from the National Institute Economic Review, no. 192, April 2005. The National Institute Economic Review is published quarterly by Sage Publications. Please visit the Sage...