{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='European bankers meet NYC Mayor Bloomberg on financial summit; analysis' data-url='/boclips/videos/5c54c089d8eafeecae14b7ba' data-video-url='/boclips/videos/5c54c089d8eafeecae14b7ba' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nEuropean bankers meet NYC Mayor Bloomberg on financial summit; analysis\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide of meeting between European and American bankers2. New York mayor Michael Bloomberg (second from left) and London mayor Boris Johnson (fourth from left)3. Bloomberg addressing meeting4. Bloomberg and British Bankers Association...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide of meeting between European and American bankers\u003cbr/\u003e2. New York mayor Michael Bloomberg (second from left) and London mayor Boris Johnson (fourth from left)\u003cbr/\u003e3. Bloomberg addressing meeting\u003cbr/\u003e4. Bloomberg and British Bankers Association chief Angela Knight entering news conference\u003cbr/\u003e5. SOUNDBITE: (English) Angela Knight, Chief Executive, British Bankers Association:\u003cbr/\u003e\"I'm afraid I do have these concerns about underpinning. What does that mean? I think it can mean, given as an explicit guarantee, it can mean a situation arising which could then subsequently be a lot more difficult both for the country and indeed the taxpayers. So my understanding is that Germany still remains implicit.\"\u003cbr/\u003e6. Wide of news conference\u003cbr/\u003e7. SOUNDBITE: (English) Michael Bloomberg, New York Mayor:\u003cbr/\u003e\"We are all guilty. The enemy is us. We have for a long time been willing to expand an economy around the world greater than everybody knew was sustainable for ever.\"\u003cbr/\u003e8. Wider of Citywire offices \u003cbr/\u003e9. Citywire financial analyst, Charlie Parker, working at desk\u003cbr/\u003e10. SOUNDBITE: (English) Charlie Parker, Citywire financial analyst:\u003cbr/\u003e\"If they ever had to really be called on to provide this money to banks, it would be massively debilitating to British national debt.\"\u003cbr/\u003e(Q: What would happen if the government were called upon to meet its obligations?)\u003cbr/\u003e\"Well, the amount of debt the government has would rise and rise and rise and rise, it would probably have to stem that by encouraging spending and hiking inflation up.\"\u003cbr/\u003e11. Various of Britain's houses of parliament\u003cbr/\u003e12. Wide of London skyline and River Thames\u003cbr/\u003eThe head of the British Bankers Association issued a warning on Monday against the possibility that the UK government may offer an unlimited guarantee to savers if a bank fails. \u003cbr/\u003eThe prospect of such a move rose over the weekend after a number of European countries issued one hundred percent guarantees.\u003cbr/\u003eAngela Knight, chief executive of the British Bankers Association, said an unlimited guarantee ran the risk of making the situation \"a lot more difficult\".\u003cbr/\u003eShe was speaking at a news conference with New York Mayor Michael Bloomberg in London, following a conference of European and American bankers.\u003cbr/\u003eSo far, Britain has raised its deposit guarantee only to 50-thousand pounds (87,900 US dollars), but remains under pressure to guarantee all deposits.\u003cbr/\u003eBloomberg said the entire banking industry, together with political leaders, were to blame for the financial crisis. \u003cbr/\u003eFinancial analyst, Charlie Parker, of Citywire said it would be \"massively debilitating\" if the British government offered a hundred percent guarantee to savers. \u003cbr/\u003eHe added that the government would have to increase spending, resulting in higher inflation. \u003cbr/\u003eEuropean governments struggled to find a coordinated response to the crisis sweeping financial markets on Monday, as one country after another announced\u003cbr/\u003esweeping deposit guarantees on their own to try and shore up their banks.\u003cbr/\u003eIceland joined Denmark in becoming the latest countries to declare a deposit guarantee on Monday after a startling announcement by German Chancellor Angela Merkel on Sunday that her government would guarantee all private bank savings and CDs held in the euro zone's single largest economy.\u003cbr/\u003eMarkets responded to the disarray by sinking rapidly, following selloffs in Asia.\u003cbr/\u003eBritish Prime Minister Gordon Brown planned a call to Merkel to discuss the crisis, while Alistair Darling, the Treasury chief told lawmakers that European countries must\u003cbr/\u003ework together to tackle problems in the banking system and that Britain is ready to do \"whatever is necessary\" to protect banks and depositors.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv 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