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| Europe crisis plan talks enter final stretch The Associated Press Imposing sharp losses on the banks through a so-called haircut could trigger massive bond insurance payments that could cause panic on financial markets. Charles Dallara, managing director of a global banking lobby group currently negotiating a wider ... See all stories on this topic » | ||
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| France: European budget convergence inevitable BusinessWeek European governments' budget policies will inevitably converge as a result of the debtcrisis, France's finance minister said Monday, a day after Paris and Berlin pushed Italy to commit to new growth measures. French Nicolas Sarkozy and German ... See all stories on this topic » | ||
| EU May Ask IMF To Administer Special Debt Crisis Fund -Source Wall Street Journal The IMF and world financial leaders fear that if Europe doesn't act forcefully now, it could push the global economy into a recession and spark another global financialmeltdown. European officials are considering several ways that a newly created fund ... See all stories on this topic » | ||
| Vatican blasts 'idolatry' of global markets Washington Post (blog) ... the world's economic and financial crisis on an “economic liberalism that spurns rules and controls,” the Vatican on Monday (Oct. 24) released an ambitious proposal for global regulation of the financial industry and the international money supply. ... See all stories on this topic » | ||
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| Montenegro May Rely on IMF, EBRD, EIB for 2012 Borrowing Needs BusinessWeek By Misha Savic and Gordana Filipovic Oct. 24 (Bloomberg) -- Montenegro may turn to international financial institutions for money in 2012 and steer away from commercial borrowing because of market vulnerability in Europe, Finance Minister Milorad ... See all stories on this topic » | ||
| Lending Crisis Stokes Fears of 'China Economic Model' Collapse The Epoch Times The increased money tightening, and a series of measures to curb the real estate market since early 2011, eventually led to a private lending crisis. After visiting Wenzhou on Oct. 5, Premier Wen Jiabao urged financial support for SMEs and recommended ... See all stories on this topic » | ||
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| Banks Clash With Lawmakers on Greek Aid as Bond Losses Loom BusinessWeek EU policy makers are calling for larger writedowns amid a deteriorating Greek economic and financial situation, as highlighted in a draft report last week by the European Commission, the European Central Bank and the International Monetary Fund, ... See all stories on this topic » | ||
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| EU lawmaker: ideas to boost crisis fund fall short Seattle Post Intelligencer The other two parts are reducing Greece's debt burden so the country eventually can stand on its own and forcing banks to raise more money so they can take losses on the Greek debt and ride out the financial storm that will entail. ... See all stories on this topic » | ||
| Should Some Bankers Be Prosecuted? The New York Review of Books Others claim federal officials fear that punishing the banks too much will undermine the fragile economic recovery. As one former Fannie official, now a private financialconsultant, recently told The New York Times, “I am afraid that we risk pushing ... See all stories on this topic » | ||
| TEXT-India cbank second quarter 2011/12 monetary policy review (PART A) Reuters Escalating concerns over medium-term sovereign debt dynamics in the euro area and, in particular, substantial potential losses to banks holding this debt have impacted globalfinancial markets enormously. The adverse feedback loops among sluggish ... See all stories on this topic » | ||
| Banks have a new problem: way too much cash Bend Bulletin Droves of consumers and businesses unnerved by the lurching markets have been taking their money out of risky investments and socking it away in bank accounts, where it does little to stimulate the economy. Although financial institutions are not yet ... See all stories on this topic » | ||
| The wrong numbers The Economist (blog) ANDREW Haldane, the executive director for financial stability of the Bank of England, has given many excellent speeches but his latest effort is a must-read for anyone who wants to know how we got into this current financial mess. ... See all stories on this topic » | ||
| Can Bankers Be Trusted To Manage The Global Economy? Economic Times (blog) Zero or marginal interest credit is unsustainable and have forced banks to device innovative financial derivatives and other risk instruments to stay profitable. This has made economic activity volatile and risk prone. The large Wall Street banks have ... See all stories on this topic » | ||
| UBS salvages Q3 profit with one-off gain Reuters "We want to have a strong, profitable, focused investment bank and asset management businesses to support this strategy." Chief Financial Officer Tom Naratil said the bankwould only give details next month of any possible new job cuts from the ... See all stories on this topic » | ||
| Bank Protesters Seeking Bans Move Into City Halls on Both Coasts BusinessWeek 17, calling for an overhaul of financial-services laws, Berger said. The campaign's goal is to cut banks and brokers out of municipal financial- services contracts if they can't prove they are modifying loans for homeowners in distress. ... See all stories on this topic » | ||
| Nigeria's economy at risk from resolution of banks' crisis – CBN Vanguard In the half year report, the CBN, in the economic outlook for the second half of the year 2011, said these cash and liquidity injections pose a serious threat to the economic and financial stability of the country. According to the CBN, the liquidity ... See all stories on this topic » | ||
| Mini budget speech Fin24 We have learnt from the 2008 global crisis that sound fiscal and financial institutions do not provide immunity against job losses in our own economy arising from turbulence originating elsewhere in the world. Nor are they sufficient to reposition our ... See all stories on this topic » | ||
| China Boom-to-Bust Concerns Revealed in Agricultural Bank Slide BusinessWeek The economic health of China -- and its banks -- is increasingly important as the worldeconomy teeters on the brink of another financial crisis. China has accounted for more than 40 percent of global growth since 2008, according to Bloomberg data. ... See all stories on this topic » | ||
| Global debt apocalypse is looming San Francisco Examiner Some money managers have a theory that this process has been under way for some time. Stage one was the 1990s Asian crisis. Global financial markets concluded that Asia's debt was dangerously high and its banks' balance sheets not reflective of reality... See all stories on this topic » | ||
| Help for homeowners less and later than promised The Seattle Times But Peter Orszag, a former senior White House economic adviser, said the administration has underestimated how much the nation's massive mortgage debts would weigh the economy down after the financial crisis. "A major policy error has been to put too ... See all stories on this topic » | ||
| Burn 'em Banks hedged.biz While structured credit derivatives have been blamed for the 2008 Grand Financial Crisis, the fact is that the problems mounted only when the demand for buying debt outstripped the demand for borrowing money. When that happens, grown men and women with ... See all stories on this topic » | ||
| The Phony Success of China's Stimulus Wall Street Journal Easy money has delayed Beijing's day of reckoning. Expect to see a lot of bank loans go bad. By JOSEPH STERNBERG Among the many myths surrounding China'seconomy, the biggest relates to how Beijing averted a recession after the globalfinancial crisis. ... See all stories on this topic » | ||
| China's Engine Gets Less Mileage as BlackRock Sees Slowdown BusinessWeek Even so, BlackRock analysts see no immediate financial crisis. It's unlikely that local government debt of 10.7 trillion yuan “will sink the ship,” Seth said, citing strong provisioning and net profits for the top 15 banks. The economy's sustained ... See all stories on this topic » | ||
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| A haircut for the bold or the bald? Kathimerini However, some third parties -- eurozone members, the International Monetary Fund and the European Central Bank -- will avoid feeling financial pain. This, despite the fact theyÃre also responsible for political and economic miscalculations that led us ... See all stories on this topic » | ||
| Asia shares rise on Europe hopes, uncertainty caps Fox Business European policymakers neared a deal over the weekend on bank recapitalization, and France and Germany appeared close to agreement on how to use the EuropeanFinancial Stability Facility (EFSF) to stave off contagion in the bond market. ... See all stories on this topic » | ||
| Five myths about Dodd-Frank Bangor Daily News 1: Dodd-Frank is deepening the economic slowdown. Critics who charge that the law is aggravating the recession have forgotten where our economic woes came from in the first place. The 2008 financial crisis was devastating: Banks stopped lending to one ... See all stories on this topic » | ||
| Europe Scrambling to Complete Debt-Relief Plan Voice of America The European heads of state have promised a debt-relief plan by Wednesday when they meet in Brussels for their second summit in four days to try to resolve the two-year-oldcrisis. World financial markets have been roiled in recent weeks as the ... See all stories on this topic » | ||
| Catholics, Finance, and the Perils of Conventional Wisdom National Review Online Yet its authors seem unaware that much of the blame for our present economic mess is squarely attributable to central banks. Here one need only note that the Federal Reserve's easy-money policies from 2000 onwards played an indispensible role in ... See all stories on this topic » | ||
| Slim Says US Should Fund 'Real Economy' Instead of Banks BusinessWeek “It's going in some way more to the financial economy.” Slim, who controls Mexico City-based America Movil SAB, the largest telecommunications carrier in the Americas, plans to continue spending in his current markets. He is open to putting money into ... See all stories on this topic » | ||
| Don't Mix The Ecclesiastical With The Economical NPR It's been idolatry not of the market but of central banks, the institutionalized sources of moral hazard and financial instability around the world. (The aura of infallibility and the cult of personality surrounding Fed chairmen make the language of ... See all stories on this topic » | ||
| Linkers Signaling Inflation Poised to Slow: Australia Credit BusinessWeek “It remains to be seen how the Australian economy will respond to the recent financialvolatility and the consequent fall in confidence and the loss of wealth,” Battellino told a forum in Sydney. See all stories on this topic » | ||
| Rube Goldberg Goes to Washington: Wall Street's Regulation Complexification ... Justmeans Reviewing Satyajit Das's new book, "Extreme Money: Masters of the Universe and the Cult of Risk," The Economist recalled the 1998 bankruptcy of the hedge fund Long Term Capital Management, saying it was "a classic example of how those in the financial ... See all stories on this topic » | ||
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| IMF Survey: G-20 Reaffirms Commitment to Resolve Crisis Finance ministers and central bank governors of the Group of Twenty (G-20) industrialized and ... IMFSurvey Magazine: In the News ... People walk near the French Ministry of Economy, Finance, and Industry in Bercy, France. ... taking concrete steps to build a more stable and resilient international monetary system both to ... www.imf.org/external/pubs/ft/survey/so/.../NEW101511A.htm |
| U.S. rejects plan to strengthen IMF in euro zone crisis | Reuters PARIS (Reuters) - Proposals to double the size of the IMF as part of a broader ... People walk near the French Economy, Finance and Industry Ministry at Bercy ... A communique and round of closing news conferences are expected around 11 ... The Franco-German crisis plan is likely to ask banks to accept bigger losses on ... www.reuters.com/article/.../us-g-idUSTRE79C74G20111014 |
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