Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 08, 2011

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Sep 8, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 08, 2011


G7 ministers see urgency but to offer no grand plan
Reuters
But euro zone sources said governments have no plans to inject any further capital intobanks over and above the money earmarked for the financial sector in emergency loan programs to Greece, Ireland and Portugal. With Asian economies deeply concerned ...
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Reuters
euro zone bright spots are 'clouded'
Washington Post
(Source: Bloomberg) Economic analysts are holding up Ireland as a model of how countries in abanking crisis should tackle their financial firms — putting some out of business, injecting moneyinto others, and moving with haste. The IMF and the United ...
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Return of the Eurozone Crisis
Council on Foreign Relations
As a result, the European banking sector (DerSpiegel) could face a liquidity crisis, with profound effects for the US financial system. The European banking crisis could spread rapidly from Greece throughout the eurozone and beyond, just as the 2008 US...
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Council on Foreign Relations
Enhancing Financial Stability: The Role of Transparency
Brookings Institution
In the wake of the financial crisis, I can think of no more important task than to bring a broadeconomic and financial perspective to the supervision and regulation of the financial system. An element of that perspective has always been applied to the ...
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Few See Hope in European Crisis
The New American
He added: “Sometimes people hope that you can muddle through by providing financing and liquidity, in the case of Europe, from the European Financial Stability Facility or the European Central Bank. They now recognize that's not going to happen and ...
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The future of banking: Hunt for a common front
Financial Times
A case in point was their surge in lending during the global financial crisis, when the government used the banks to fund its stimulus spending. The damage in bad loans is just beginning to emerge and analysts say it will cast a shadow over the Chinese ...
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Financial Times
Euro slips, stock rebound fades ahead of ECB
Reuters
... only major Western central bank to have raised rates since the end of the globalfinancial crisis, but is expected to signal a change in policy tack and halt its tightening cycle in response to the sovereign debt crisis and slowing economicgrowth. ...
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Reuters
EU's Rehn warns pressure on banks is rising
Reuters
BRUSSELS, Sept 7 (Reuters) - Funding pressures for European banks have intensified and the situation on financial markets is serious and spilling over into the economy, the European Union's top economic official said on Wednesday. "Stress in financial ...
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The Globe and Mail
Globe and Mail
“The European sovereign debt crisis has intensified, a broad range of data has signalled slower global growth, and financial market volatility has increased sharply,” Bank of Canada Governor Mark Carney and his colleagues said in their policy ...
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Inflation Scare Passing Spurs Central Banks to Refocus on Recession Risks
Bloomberg
Central bankers are already taking advantage of that outlook to focus more on supporting growth as the world economy loses momentum and financial markets are roiled by the euro- area's failure to contain its debt crisis. Those from the Group of Seven ...
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The New Triumvirate - by Mansoor Dailami
Foreign Policy (blog)
Although the dollar has since become the unquestioned principal international currency, even through the global financial crisis, another iteration of the global currency triumvirate is on the horizon. Fast-forward to 2025, and a system centered on the ...
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Foreign Policy (blog)
There is not enough sovereign debt forgiveness
Euromoney Magazine
Meanwhile, as market participants look towards the seeming unravelling of the Greek debt crisis, on September 2 the European Commission, the ECB and the IMF said it was conducting its fifth review of Greece's economic program. ...
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A Raging Case of Bailout Fatigue
HoweStreet.com
And the ability to raise truckloads of money for almost no interest raises another disturbing question: Did the banks really need this cash to stay afloat? University of Pennsylvania finance professor Richard Herring, an authority on financial crises, ...
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HIGHLIGHTS 2-BOJ's Shirakawa says powerful easing already in place
Reuters
"Japanese banks do not have much exposure to European debt so they are unlikely to take a big direct impact from the debt problems there. But if the European financial system destabilises, it would impact the global economy and thus Japan's economy and ...
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Moynihan Tries to Keep Bank of America Intact as Mortgage Loans Fall Apart
Bloomberg
Likewise, Fannie Mae and Freddie Mac, two of BofA's other main antagonists, are each almost 80 percent-owned by US taxpayers as a result of rescues at the depths of the financial crisis. The GSEs are “we the people”; if they help take Bank of America ...
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20 Quotes From European Leaders That Prove That They Know That The Financial ...
Hawaii News Daily
The “problem” would be a horrible financial crisis and economic downturn in Europe. The “reaction” would be a cry from the European public for someone to “fix” things and return things back to “normal”. The “solution” would be a “United States of ...
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My two-step solution to Europe's democratic and economic crisis
The Guardian
Photograph: Petros Giannakouris/AP The financial crisis risks destroying half a century of European integration. It is primarily a political and not an economic crisis, and only a different political solution can solve it. ...
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The Guardian
Keep strong vigil on asset quality, Pranab tells banks
Hindu Business Line
The developed world had, post the financial crisis, adopted an easy money policy to counter their economic woes. “These are turbulent times and we should watch every step that we take. But this should not prevent us from taking bold and innovative ...
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Hindu Business Line
WB President: Rough road ahead for world economy
People's Daily Online
While coping with the financial crisis, the United States and developed countries of Europe drew on huge amounts of capital to save the beleaguered banking industry and launched abnormal financialstimulus measures to promote their economic recoveries. ...
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When fractured politics kills economic solutions
Reuters Blogs (blog)
It's a vicious circle, this situation that we entered with the advent of the global financial crisis, and neither the EU nor the US has the political will or ability to get us out of it. This is a test not only of capitalism but also of federalism and ...
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George Osborne urged to scrap 50p tax rate
The Guardian
Osborne hinted that he expected the Bank of England to take action against growing recessionary pressures with a second round of the electronic money creation process, known as quantitative easing. The chancellor made his comments as financeministers ...
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The Guardian
French lower house approves second Greek bailout
Reuters
The votes, part of a reform to the 2011 budget law which also introduced deficit-cutting measures, means France's parliament should become the first to approve the modifications to the EuropeanFinancial Stability Facility (EFSF) agreed by euro zone ...
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Some Financial Innovations That Aren't Going To End Well
Seeking Alpha
That's how financial innovations get engineered. Here are a couple of examples of financialinnovations that are not likely to end well. The Chinese authorities have been taking active steps to rein in bank lending by raising reserve ratios and ...
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Schauble austerity rant may make things worse
Globe and Mail
That is not true of Ireland, Portugal and Spain, whose debt levels were admirably low before the 2008 financial crisis hit. Spain's sins – a housing boom gone mad – were epic; but piling up debt was not one of them. Spain's national-debt-to-GDP ratio ...
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Globe and Mail
Lasting economic costs of 9/11 seen in bloated deficits
STLtoday.com
Some economists, including Nobel Prize recipient Joseph Stiglitz, attempt to draw a dotted line between terrorism and the economy's sluggish performance after the financial crisis. If we hadn't spent so much money in Iraq and Afghanistan, they reason, ...
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LHCDC to dissolve by year's end
Lompoc Record
Kate Griffith, a planning commissioner and the city's former economic development manager, said she was “browbeaten” and “taken to task” when she approached the council and city administrators about LHCDC's failure to provide financial audits. ...
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