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

EU leaders tackle debt crisis USA Today BERLIN – Banks agreed this morning to take half of what they are owed by Greece as part of a deal brokered by European leaders to solve the continent's debt crisis and prevent it from igniting a new global financialmeltdown. ... See all stories on this topic »

Europe Bolsters Crisis-Fighting Tools, Pledging to Provide Details Later Bloomberg The challenges to overcome on that front include deciding which assetsbanks can count as capital and how financial institutions will raise it given their reluctance to seek cash from shareholders. The EuropeanBanking Authority estimated banks' ... See all stories on this topic » Bloomberg

The Vatican's Monetary Wisdom Wall Street Journal The speculative bubble in real estate and the recent financial crisis have the very same origin in the excessive amount of money and the plethora of financial instruments globally. Under the gold standard, there was a check on the whim of financial ... See all stories on this topic »

European Bank Stocks Jump as EU Summit Eases Debt Crisis Bloomberg That “would have cost states a lot of money and would have ruined thebanks.” Josef Ackermann, chief executive officer of Deutsche Bank and chair of the Institute of International Finance, said today Greek bondholders and policy makers reached “a ... See all stories on this topic » Bloomberg

BOJ Expands Stimulus as EU Debt Crisis Pushes Up Yen San Francisco Chronicle The central bank will release its gross domestic product and inflation forecasts at 3 pm today with its semi-annual report on the economy. Shirakawa is scheduled to speak to reporters at 3:30 pm Japanese Finance Minister Jun Azumi said on Oct. 25 that ... See all stories on this topic »

Euro Crisis Fix May Threaten Lifeline for East Europe Banks BusinessWeek With financial markets less developed in the east and growth outpacing the west,banks that have made the most investment will be reluctant to withdraw, said Jerome Booth, who helps manage about $47 billion of emerging-market assets as co- founder and ... See all stories on this topic »

Sarkozy Wins China Cooperation Pledge as Japan Plans EFSF Aid BusinessWeek Australia's finance chief said that while it's “appropriate” to look at the IMF's resources, Europeans must look to themselves first for bailout money. “The Europeans have their back against the wall and China is the lender of last resort,” Patrick ... See all stories on this topic »

Hedge Fund Secrets, Bank Capital Deadline, Gupta: Compliance BusinessWeek Angola plans to pass a law that will require oil companies, such as Exxon Mobil Corp., BP Plc and Total SA, operating in Africa's second-biggest oil-producing nation to use local banks to carry out their financial operations, Agencia Angola Press ... See all stories on this topic »

Global Economy Needs Recovery Before Reform The Moscow Times By Robert Skidelsky The financial crisis that started in 2007 shrunk the worldeconomy by 6 percent in two years, doubling unemployment. Its proximate cause was predatory bank lending, so people are naturally angry and want heads and bonuses to roll ... See all stories on this topic »

Fed Ties Purse Strings of Banks Wall Street Journal Bank executives also contend more buybacks and dividend increases would act as a welcome jolt for the larger US economy. But with memories of the 2008 financial crisis still fresh, regulators are reluctant to grant approval amid questions about how the ... See all stories on this topic » Wall Street Journal

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