Cable warns banks on Basel III - papers

With the new requirements to have more capital to protect themselves against collapse, the British Bankers' Association had predicted the "cheap money era is over", the Guardian reports. However, the business secretary has said the big banks are "well capitalised" and have no reason not to lend. Mr Cable says: "Small and medium-sized enterprises are fundamental to the recovery and to tackling unemployment. Without access to credit on reasonable terms, their contribution to the recovery risks being choked off." Read more here America and Europe face the worst jobs crisis sin...