 CBS News But Europe has been slow to address a worsening crisis in its financial sector that is making banks reluctant to lend to each other and give loans to businesses, exacerbating an economic slowdown. Three rounds of stress tests since the 2008 credit ... See all stories on this topic » | ||
| The 4 Trillion-Euro Fantasy New York Times (blog) The European Financial Stability Facility as currently devised has only around 240 billion euros available (and this will fall should more countries lose their AAA credit ratings). The International Monetary Fund, the only ready money at the global ... See all stories on this topic » | ||
| A Tsunami of Stimulus is on its Way - Investors Need to Prepare PR Newswire (press release) We've also heard from the IMF that they want "coordinated action" to help prevent a global financial crisis and there have been numerous other voices in favour of a strong and coordinated response. On 23 September George Osborne said "I think what the ... See all stories on this topic » | ||
| Egypt considering IMF deal rejected in June Reuters Yields on Egyptian treasury bills rose last month to levels last seen during the globalfinancial crisis in 2008. They have since eased but traders have said Egypt needs external funding to prevent yields surging further. "Everyone knows that the IMF ... See all stories on this topic » | ||
| European Crisis Could Tip US Into Recession, Economists Warn Huffington Post Economists do not agree on when Greece might default, but they expressed concern that a financial crisis in Europe, sparked by a Greek default that seems almost inevitable, could push the fragile American economic recovery into a recession by the end ... See all stories on this topic » | ||
| TIMELINE-Greece's debt crisis Reuters May 9 - IMF unanimously approves its part of rescue loans, with 5.5 billion euros being provided immediately. May 10 - Global policymakers install emergency safety net worth about $1 trillion to bolster international financial markets and prevent Greek ... See all stories on this topic » | ||
| Socialism and the global economic crisis World Socialist Web Site Three years into the severest world economic crisis since the 1930s, stock markets around the world are once again tumbling as the capitalist system plunges into depression. In the wake of the September 2008 financial meltdown, governments injected ... See all stories on this topic » | ||
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| Global Stocks rise on hopes for bank support steps Economic Times The Financial Times reported on Thursday that the European Banking Authority, mid-way through a two-day crisis meeting to assess the potential hit of mass sovereign restructurings, is re-examining the strength of the region's banks. ... See all stories on this topic » | ||
| Lee urges financial firms to actively support exporters Yonhap News The meeting marked the revival of a set of emergency economic policy meetings that Lee had regularly presided over in efforts to lead South Korea out of the 2008 globalfinancial crisis. The government decided to revive the meetings as concerns about ... See all stories on this topic » | ||
| Europe Should Boost Bank Financing Measures, UniCredit CEO Says BusinessWeek The IMF has offered a slate of options to the EU to revamp the euro area's main rescue fund, the European Financial Stability Facility, said Antonio Borges, the IMF'sEuropean department head. In a subsequent statement, Borges retreated from some of... See all stories on this topic » | ||
| INSIGHT-Humbled Dubai looks to real economy, Arab world Reuters Hotel occupancy stood at 86 percent in the first quarter of 2011 compared with 75 percent in the third quarter of 2008, when the global financial crisis deepened. The loan-to-deposit ratio at banks fell to 94 percent in July 2011 from 110 percent in ... See all stories on this topic » | ||
| Asian markets jump on signs of hope for European debt crisis, positive US data ... Washington Post Meanwhile, the Bank of England is thought to be discussing resuming quantitative easing, a move that essentially creates new money by buying financial assets from institutions. With the debt crisis in Europe becoming more acute, signs of a reluctance... See all stories on this topic » | ||
| OVERNIGHT MONEY: Cordray gets his day in the Senate The Hill (blog) House on housing: That sounds more confusing than it is — a House FinancialServices subcommittee will take a look at the housing crisis as several federal agencies send witnesses in an attempt to tackle what has become the economy's greatest ... See all stories on this topic » | ||
| Statoil CFO: Taken Steps To Protect Cash Amid Economic Turbulence Wall Street Journal By Katarina Gustafsson Of DOW JONES NEWSWIRES STAVANGER (Dow Jones)--Norwegian oil giant Statoil (STO) has taken steps to safeguard its cash pile, movingmoney from banks into government bonds and seeking out financial venues that guarantee fast access ... See all stories on this topic » | ||
| Fed Report Cites Progress in Bank Pay Limits Wall Street Journal Since the financial crisis, the US and other governments also have imposed "clawback" requirements to recoup pay if a firm collapses or experiences big losses. For example, the Dodd-Frank financial overhaul law gives bank regulators the power to... See all stories on this topic » | ||
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| Big Banks Find No Comfort in Capital Cushion Wall Street Journal While the latest turns in the sorry European economic saga dominate headlines, global financial regulators are moving to finalize one of the most significant responses to the financial crisis: Requiring banks to hold more capital, and, in particular, ... See all stories on this topic » | ||
| Should We Tax Financial Transactions? The Atlantic Ken Rogoff, who spent quite a lot of time thinking about these issues as chief economist of the IMF, points out that financial transaction taxes aren't actually pain free: True, great thinkers like John Maynard Keynes and the late Nobel laureate James... See all stories on this topic » | ||
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| Oil Climbs on Positive Signs for Europe Economy ABC News Prices earlier in the week dropped to the lowest level since September 2010 as Europe's financial crisis festered. Greece warned that it would run out of money in November, and a future bailout was in doubt since it failed to meet spending targets. ... See all stories on this topic » | ||
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| Three years later: responses to the financial crisis Swarthmore Phoenix Let's start with the financial sector. Excessive risks absorbed by investment banks, which sent shocks throughout the entire economy, called for regulatory reform. The reforms needed are simple: a small tax of 1/10th of 1% on financial transactions to ... See all stories on this topic » | ||
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| Garanti Bank Gives Up Loan-Growth Limit as Turkey Eases Curbs, Sezgin Says Bloomberg Garanti Yatirim, the bank's broker, cut its 2012 growth forecast to 1.5 percent yesterday from 4 percent. The IMF predicts Turkey's economy will grow 2.5 percent next year, down from a 7.5 percent forecast for 2011. See all stories on this topic » | ||
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| UK Services Output Shows Muted Growth In July NASDAQ In comparison, output in business services and finance increased by 0.4% on the month in July. The data come just hours before the Bank of England's Monetary Policy Committee announces whether it has decided to embark on a second round of quantitative ... See all stories on this topic » | ||
| Tale of Two Loan Programs Wall Street Journal Politicians and many economists regard the small-business sector as a key driver ofeconomic growth, and crucial to helping the nation climb out of the downturn. But in the three years since the financial crisis hit, small businesses have struggled to ... See all stories on this topic » | ||
| Embattled Dexia Just the Tip of the Iceberg? CNBC.com Weinberg warned that there was no resolution to the financial crisis in the euro zone that does not increase the fiscal deficits of its countries. “There is no resolution of Euroland's financial crisis that does not further depress economic growth any ... See all stories on this topic » | ||
| Moynihan: Bank of America Is Being Honest With $5 Debit Fee The Atlantic Right now, one of the biggest challenges facing the US economy is somewhat beyond its control. Several countries on the brink of default in Europe could cause a financial crisis on the continent, and contagion could hit US banks as well. ... See all stories on this topic » | ||
| Worst Oil Industry Slump Since Lehman May Herald Takeovers BusinessWeek By Brian Swint Oct. 6 (Bloomberg) -- The oil and gas industry's worst slump since thefinancial crisis heralds a surge of takeovers for Goldman Sachs Group Inc. and Sanford C. Bernstein Co. as Asia buyers put $150 billion in cash to work. ... See all stories on this topic » | ||
| Learning Nothing in 80 Years Bay Area Indymedia When Lehman Brothers collapsed in 2008, it was said politics, central banks and thefinancial industry had learned from the mistakes of the first worldwide economic crisis. Three years later this can be doubted. As in 1931, everyone passed too quickly... See all stories on this topic » | ||
| Geithner: 'Inexplicable' That Wall Street Turned On Obama The Atlantic BENNET: Do you know -- is it knowable what degree of vulnerability our banks have to a -- to a -- to a crisis, a financial crisis in Europe? GEITHNER: I think this is a way to think about that. You know, the -- the people that oversee our financial ... See all stories on this topic » | ||
| Irish Debt: Is it in Ireland's Interest to Default? NASDAQ The lesson we have to take from the European financial markets of the past two days is quite simple: if Mr Noonan walked away from paying the next tranche of Anglo bondholders, the market in Ireland would rally." Money spent paying back debts goes... See all stories on this topic » | ||
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| RPT-CANADA FX DEBT-C$ firms as European bank package, US data Reuters The market attitude toward risk has picked up," said Jack Spitz, managing director of foreign exchange at National Bank Financial. "But the backdrop is challenged, it will remain challenged, and throwing a tarp of money over banks to recapitalize them ... See all stories on this topic » | ||
| Michael Lewis on 'Boomerang' and the Global Financial Meltdown CNBC.com (blog) "A banking system is an act of faith: it survives only for as long as people believe it will." "In 2001, Goldman Sachs Iceland…Just Like Wall Street Lewis characterizes Reykjavik, Iceland to that of Wall Street at the beginning of the financial crisis ... See all stories on this topic » | ||
| Rescuing America from Wall Street Salt Lake Tribune At Wall Street's prompting, the New Deal's constraints on finance were loosened in the 1980s and '90s, enabling banks to grow huge by speculating with other people'smoney and by restructuring the economy so that it ran on credit and debt. ... See all stories on this topic » | ||
| Trying To Discern Occupy Wall Street's 'Demands'? Think 'Jubilee' Huffington Post That's what Fred Clark suggests could be a fix to our economic ills, and it's not a bad idea at all. He quotes this Reuters piece which spells out the value of such a program: "More than three years after the financial crisis struck, the economy ... See all stories on this topic » | ||
| House Panel Backs Bill Boosting Nonpublic-Firm Shareholder Limit BusinessWeek The House Financial Services Capital Markets subcommittee gave bipartisan support today to a bill that would increase to 1000 from 500 the number of shareholders a nonpublic company can have without an initial public offering. ... See all stories on this topic » | ||
| Bernanke delivers warning on economy ABC Online WOLFGANG SCHBLE, GERMAN FINANCE MINISTER (translation): A major concern is that the worrying development of the unrest in financial markets might escalate in abanking crisis. PHILLIP LASKER: But that crisis could be in the making. French-Belgian bank ... See all stories on this topic » | ||
| EU Banks May Need $186 Billion of Capital, Morgan Stanley Says BusinessWeek European Union finance ministers have a “sense of urgency,” and a “shared view” of the need for a “concerted, coordinated approach in Europe” on bank recapitalization, EU Commissioner for Economic Affairs Olli Rehn told the Financial Times. ... See all stories on this topic » |
| IMF Survey: Regulators Identify Data Needs to Track Shadow Banks In the wake of the global financial crisis, regulators agree that they need to know ...IMFSurvey Magazine: In the News ... Yet they noted that risk that these so- called shadow banks—such as insurance companies, money market funds, hedge ... the coverage of nonbank financial institutions in economic and financial statistics. ... www.imf.org/external/pubs/ft/survey/so/.../NEW092911B.htm | ||
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| IMF Promotes Coordinated Action to Prevent Global Financial Crisis ... Inside VOA | Contact VOA News ... He warned the IMF may not have enough moneyto deal with an increasing demand for aid. ... On Friday, Lagarde said the globaleconomy is in the grip of a "crisis of confidence" and urged ... The comments come asfinance ministers and central bankers from around the world gather in ... www.voanews.com/.../IMF-Promotes-Coordinated-Action-to-P... | ||
| IMF may need billions in extra funding, says Lagarde - Telegraph French Finance Minister Christine Lagarde addresses a press conference, in New ...This week could prove crucial in the attempts by European leaders to get a grip on the Greek economic crisis, and financial markets are braced for ... the French centralbank chief insisted yesterday that taxpayers' money would ... News » ... www.telegraph.co.uk/.../IMF-may-need-billions-in-extra-fundi... | ||
| BBC News - IMF warns on funding levels if crisis worsens The IMF warns it may not have enough money to bail out larger eurozone countries if the ... on recapitalising banks and boosting the funds of the European Financial ...Earlier, Greece's minister for international economic relations, Constantine ... www.bbc.co.uk/news/business-15051883 | ||
| Eurozone debt crisis: Markets rally on bank recapitalisation hopes ... "The negative outlook reflects ongoing economic and financial risks in Italy and in the... There was also some reassuring news on troubled Franco-Belgian bank ..... moneycoming via the EFSF but the involvement of the IMF as another layer in ... www.guardian.co.uk/business/blog/.../european-debt-crisis-liv... |
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