Financial crisis 'creating new words' - Loans - News - Moneyfacts

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Financial crisis 'creating new words'

Financial crisis 'creating new words'

Category: Loans

Updated: 15/01/2009
First Published: 15/01/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
The economic downturn has led to the emergence of new words, it has been suggested.

As people are placed under increasing pressure due to credit card bills and unsecured loan payments, Collins English Dictionaries has observed that a number of new phrases have been coined.

Head of content Cormac McKeown explained that frequency of use is one of the key considerations for inclusion in the dictionary, which led to the appearance of terms such as credit crunch.

And now other words, including staycation - holidaying at home due to financial difficulty - and credit-crunched - someone who is adversely affected by a credit crunch - are being tipped as ones to watch out for.

"Terms that once would have been limited to the financial pages have started to move into the mainstream, as people want to read and talk about how the whole mess has come about," said Mr McKeown, adding that English speakers tend to be playful with language even in times of difficulty

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