Financial crisis: We"ll only win this war if banks lend

We’ll only win this war if banks lend | UPDATED: 09:21 GMT, 4 December 2012 This was the day a senior executive of the Bank of England spelt out in graphic language the impact of the financial crisis, saying its effects on economic output and incomes were ‘as bad as a world war’.

Andrew Haldane: Bank boss"s view of financial crisis which has left a debt "that will be paid by our grandchildren"

'This is as bad as a world war': Bank of England boss's grim view of financial crisis which has left a debt 'that will be paid by our grandchildren'Andrew Haldane: People 'had every reason' to feel 'deeply upset and angry'George Osborne to admit bringing public finances back to order will take longer than expectedHe has to find more than 23bn through further cuts and tax rises by 2017 Institute of Fiscal Studies said era of austerity could last until 2018 By Becky Barrow and James Chapman PUBLISHED: 19:13 GMT, 3 December 2012 | UPDATED: 01:59 GMT, 4 December 2012 The financial crisis has been as devastating for family incomes as a world war, a senior Bank of England official warned yesterday.