Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 27, 2011

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Sep 27, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Sep 27, 2011


Euro zone struggles to stem crisis; Obama urges action
Reuters
They may not be willing to admit it in the public, but they are thinking about these things," he said, citing the example of two US programs used to recapitalize banks in the 2008-09 financial crisis. Officials are examining "how to leverage the money ...
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Families face £5000 bill to bail our debt-stricken Euro nations
Daily Mail
Mr Obama told a public meeting in San Francisco that the debt crisis in Europe was one of the principal reasons why the US economy was faltering. 'European nations are going through a financial crisis that is scaring the world and they are trying to ...
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Daily Mail
Private equity, bonds to drive ship finance amid credit crunch
Reuters
European banks, traditionally the top lenders to global shipping companies, have tightened credit lines as the region's sovereign debt crisis spills over to financial institutions. The International Monetary Fund warned last week that the crisis had ...
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The Philosophy Behind “Occupy Wall Street”
CounterPunch
The IMF could not ignore the continued political and economic crisis in the Euro-zone, nor could it turn away from the credit downgrade of the United States. Nor indeed could the IMF blind itself from the turbulence of the financial markets (whose most ...
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German, French economists urge 50 pct Greek debt write-down
Reuters
The country adopted yet more austerity measures last week to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe's sovereign debt crisis risks tearing a giant hole in banks' capital. ...
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Euro stability fund on the line
CNNMoney
European leaders agreed in July to overhaul the framework of the European Financial Stability Facility, which was set up in the wake of the 2008 crisis. The goal is to calm sovereign debt markets by empowering the fund to buy bonds issued by distressed ...
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Rousseff Crisis Spurred by Lula Debts as Brazil Boom Diminishes
Bloomberg
“The world is going through economic and financial turbulence,” says Rousseff, who's dressed in a black pantsuit. “But we're living through a great moment.” In a toast, Dilma, as she's known to almost all Brazilians, juxtaposes the task of managing the ...
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'Made in Washinton' EU Plan 'Too Little Too Late'?
CNBC.com
With rich European Union governments like Germany unable to sell their voters on the idea of more bailout funds for Greece or the banks, the latest proposal aimed at leveraging up the EuropeanFinancial Stability Fund (EFSF), the vehicle agreed to last ...
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ECB Said to Consider Covered-Bond Purchases to Inject Liquidity in Markets
Bloomberg
By Gabi Thesing and Esteban Duarte - Mon Sep 26 15:11:56 GMT 2011 Jean-Claude Trichet, president of the European Central Bank (ECB), center, pauses during a news conference at Europe'sEconomic and Financial Affairs Council meeting, known as Ecofin, ...
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European debt crisis: Markets rally ahead of crucial Greek talks
The Guardian (blog)
Japan has its own financial problems (including the biggest debt-to-GDP ratio in the G20), and its fiscal reduction plan partly depends on decent economic growth - unlikely if the EU debt crisis triggers a global downturn. Its exporters are already ...
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The Guardian (blog)
European debt inaction scaring the world: Obama
ABC Online
"So they're going through a financial crisis that is scaring the world, and they're trying to take responsible actions, but those actions haven't been quite as quick as they need to be." The pressure on the EU is immense - the World Bank and the ...
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US queries Syrian deposits in Lebanon
The Daily Star
BEIRUT: The United States has informally inquired about the Syrian customer deposits in Lebanese banks as part of Washington's efforts to tighten economic and financialsanctions on Damascus, media reports said. “US officials asked Finance Minister ...
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The Daily Star
Weidmann: Pool Budgets Or Leave Govts To Face Markets
Wall Street Journal
Weidmann acknowledged in his speech that there is a "heightened danger" of turmoil in Europe'sfinancial markets choking off what has so far been a robust recovery by the German economy. In that context, he called for "a political answer" to the crisis ...
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European shares surge on euro zone debt plan hopes
StarPhoenix
Turbulence on global markets since late July has been driven by investors' twin fears of renewed recession in the United States, and the chaos that Europe's sovereign debt crisis could inflict on thefinancial system if it continues unchecked. ...
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FTSE LIVE: Stocks post gains on hopes of Greece settlement
This is Money
On the economic front, the CBI's September Distributive Trades survey is due out later. BP: BP is planning a pipeline stretching 1300 km across three countries to bring gas from Azerbaijan to Europe, the Financial Times reported. Royal Bank of ...
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This is Money
Carney roasted by Wall Street banker
CBC.ca
Beginning of Story Content A Wall Street banker launched into a tirade against theBank of Canada Governor Mark Carney for suggesting global banks increase their cash reserves as a hedge against another financial crisis, according to a report Monday. ...
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CBC.ca
Wayne Swan lays into inertia in Europe as world economy risks 'stagnation'
The Australian
"The global financial crisis was a crisis that virtually no one saw coming," he said. "Now we have acrisis that virtually everyone has seen coming. It is our responsibility to provide the leadership to avert this." Mr Swan noted that the G20 nations ...
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UK Stocks Climb for Second Day; RBS, Barclays, Tesco Advance
BusinessWeek
26 (Bloomberg) -- UK stocks rose for a second day, rebounding from last week's slump, as banksrallied amid speculation European leaders are moving toward providing more support for the region'sfinancial companies. Royal Bank of Scotland Group Plc, ...
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Europeans mull bigger bailout fund for Italy, Spain
EurActiv
The EU economic commissioner, Olli Rehn, said on Saturday that as soon as the region's governments confirm new powers for the bailout fund – the European Financial Stability Facility – attention would turn to how to get more impact from the existing ...
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Missing Pieces: IMF Projections, Mobile Money, and More
Council on Foreign Relations (blog)
by Isobel Coleman Finance ministers and central bank governors of Brazil, Russia, India, China, and South Africa attend the BRICs news conference during the annual International Monetary Fund-World Bank meetings in Washington, September 22, ...
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Council on Foreign Relations (blog)
New Capital Rules Likely for Banks
Wall Street Journal
US banks say the global capital surcharge is unfair because it doesn't take into account other changes that have occurred since the 2008 financial crisis that are also aimed at preventing them from being "too big to fail"—so large and far-reaching ...
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Banker: Reform likely won't prevent new financial crises
Baltimore Sun
Most financial companies don't have the casino-like trading operations that Lehman Brothers, Bear Stearns, Citigroup and others employed to bring down the economy. Yet many people think of M&T and other non-Wall Street banks as being in the same ...
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Financial glossary: A-C
BBC News
Crucially, it agrees international standards for the capital adequacy of banks - that is, the minimum buffer banks must have to withstand any losses. In response to thefinancial crisis, the BIS has agreed a much stricter set of rules. ...
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BBC News
Russian finance minister resigns after Medvedev spat
USA Today
Kudrin has been widely credited with helping Russia weather the 2008-2009 globalfinancial crisis. During Putin's presidency from 2000 to 2008, Kudrin stashed some of the revenue from Russia's soaring oil exports into a stabilization fund despite ...
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USA Today
Touring the Ruins of the Old Economy
New York Times
... about Europe's deepening debt crisis and the recent warning issued by Christine Lagarde, managing director of the IMF, that “the current economic situation is entering a dangerous phase.” By Michael Lewis Combining his easy familiarity with finance ...
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Asia Currencies Rise, Led by Won, on Optimism Europe to Tackle Debt Crisis
Bloomberg
“There's some rebound in risk appetite as the selloff in stocks and currencies was a bit overdone,” said Nik M. Khairul, a treasury dealer at Asian Finance Bank Bhd. in Kuala Lumpur. The ECB is under pressure to increase stimulus as Europe's worsening ...
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Fortress Subprime Unit Faces Cash Quandary: Corporate Finance
San Francisco Chronicle
13 it hired Jay Levine, the former CEO of the US securities unit of Royal Bank of Scotland Group Plc. to be its president and CEO. Levine also previously headed Capmark Financial Group Inc., which is now emerging from bankruptcy protection. ...
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Singapore Inc.'s Bank Bet Losses Pile Up on UBS Scandal
BusinessWeek
Stephen Forshaw, a spokesman for Temasek, declined to comment. Financial services companies made up 36 percent of Temasek's portfolio as of March. It is the biggest investor in lenders including Standard Chartered Plc, the British bank that earns most ...
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Bank of Israel reduces interest rate for October 2011 to 3 percent
Israel Ministry of Foreign Affairs (press release)
The Bank of Israel will continue to monitor developments in Israel's economy and the globaleconomy and in the financial markets. The Bank will use the instruments available to it to achieve its objectives of price stability, the encouragement of ...
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Don't bank on Beijing
Fin24
Too much money finds its way into the economy through non-bank lending. Indeed, some economists warn that China's shadow banking system looks ominously similar to that of the United States before the last financial crisis - enormous, murky, ...
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Government opposition and financial experts in RS warn against more debt.
Southeast European Times
To cover the deficit in public funding, the Dzombic government intends to raise new loans worth 120m euros, admitting that RS got further into financial trouble after the IMF, the World Bank, and the European Commission blocked promised money to Bosnia ...
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Nestle Borrows at 4-Year Low as KitKat Maker Favored in Crisis
BusinessWeek
A gauge of yield premiums on European bank bonds widened to a record last week on concern thefinancial system is in jeopardy as the economy slows and Greece flirts with default. The International Monetary Fund cut its forecast for global economic ...
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Second GM Bailout Hidden in Obama Tax Plan
NewsMax.com
In doublespeak that would make even George Orwell do a double take, President Barack Obama's “financial crisis responsibility fee” would tax banks, insurance companies, and brokerage houses that have paid back their bailout money — and even some firms ...
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Medley Panel:ECB/Fed Off'ls Review Crisis;'Valuable Time'Lost
MNI News
At the same time, he observed that, so far, crisis resolution in the eurozone has been "piecemeal." Bini Smaghi said he expected the European Financial Stability Facility or EFSF to be ratified by the end of September and noted that "probably more will ...
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Under fire, Europe works to bolster debt crisis fund - Business ...
European Economic and Monetary Affairs Commissioner Rehn addresses a news ... a newsconference on the interim economic forecast at the EU Commission ... Deep differences remained over whether the European Central Bank should commit ... Financial markets have plunged in recent weeks on concerns about the ...
www.msnbc.msn.com/.../under-fire-europe-works-bolster-debt...
NewsDaily: BRICS say ready to help IMF fight global crisis
Finance ministers of the so-called BRICS nations -- Brazil, Russia, India, China and ... financialhelp that could be used to ease the economic crisis of traditional powers. ... news conference with other BRICS finance ministers and central bank chiefs. ... It is not clear how much money the BRICS would provide to multilateral ...
www.newsdaily.com/stories/tre78l5vz-us-imf-brics/
IMF annual meetings with the opening of the world ... - Finance online
U.S. report: Europe is becoming a Chinese economic crisis or the opportunity to · BRICS at the ...Money Talk :: Finance Forums- Investing, Personal Finance. Finance-ol.com: Home>>Financial News>> Reading ... World Bank and IMF leaders have on the current world economic situation, warning, calls for developed ...
www.finance-ol.com/.../imf-annual-meetings-with-the-openin...
IMF: SUMMARY OF THE REPORT ON ... - Latin Daily Financial news
According to the IMF, financial stability risks have increased substantially over ... adverse feedback loop between the banking system and the real economy. ... banks in the European Union since the outbreak of the sovereign debt crisis in 2010. ... allocations of long-term, real-money institutional investors and the potentially ...
www.latindailyfinancialnews.com/.../10802-imf-summary-of-t...
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