Credit Rescue plan not enough to solve global crisis, expert says

Even US investors are still doubtful if the global economic crisis can be saved by the proposed credit rescue plans. What would be the best solution to this global problem?


"Is it going to be the silver bullet that solves the problem? Not even close," said Eric Green, economist at Benson Futures Ltd, Sydney. "It fails to address a lack of confidence and banks' willingness to lend."

Indeed it has. Interbank lending rates eased modestly Thursday in response to the central bank plan, but remain stubbornly elevated, indicating banks are still loathe to lend one another except at a prohibitive premium.

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