 Reuters Italian Prime Minister Mario Monti comfortably won a vote of confidence in his new government on Thursday after promising rigour and fairness in painful reforms to dig the country out of a financial crisis that threatens the entire euro zone. ... See all stories on this topic » | ||
| CONSUMER FINANCE: How Europe's Debt Crisis Hits Your Wallet Wall Street Journal Remember what happened during our own financial crisis? Banks had to write down their holdings in billions of dollars of subprime home mortgages, blowing huge holes in their balance sheets. That put a real damper on lending activity to consumers and ... See all stories on this topic » | ||
| Analysis: IMF can no longer avoid bigger role in eurozone Reuters ... outside Europe as larger European economies such as Italy, Spain and France come under attack by financial markets and bank funding stresses worsen. Until now, Europe has tried to navigate its way out of the two-year crisis on its own and the IMF ... See all stories on this topic » | ||
| Financial repression forces savers into risky bets Reuters Some in the investment industry believe financial repression is likely to be shortlived, however, as the current crisis poses a greater risk of deflation than persistent inflation. Gervais Williams, a fund manager at MAM Funds said banks shoring up ... See all stories on this topic » | ||
| Daniel W. Drezner: We interrupt our normal blogging to inform you of the ... Foreign Policy (blog) During the economic boom of 2003-2008, Germany extended credit on a massive scale to the eurozone's Mediterranean countries. Frankfurt did quite well for itself. "EuropeanFinancial Linkages," a recent IMF working paper, reveals that in 2008, ... See all stories on this topic » | ||
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| Metals prices plunge on worries that European financial crisis could stunt US ... Washington Post Metals prices fell sharply Thursday on fears that Europe's spreading financial crisis will slow the fragile US economic recovery. Traders were worried that a spiraling financial crisis in Italy, Spain and France could hurt US banks. ... See all stories on this topic » | ||
| Syria's crisis-hit economy under further pressure Al-Arabiya Washington has made clear it does not want to see banks in neighboring countries doing business with Syria. A US Treasury official told Lebanon last week it should “ensure a transparent and well-regulated financial sector... (and) protect the Lebanese... See all stories on this topic » | ||
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| How Europe can tackle future crises Deutsche Welle The current crisis was caused by "banks lending money too carelessly and having too little equity capital," said Clemens Fuest, an economics professor and government advisor who believes a fundamental reform of the financial system is necessary. ... See all stories on this topic » | ||
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| European debt crisis is one of confidence Bismarck Tribune The whole credit system thus depends on people trusting and believing that their moneyis safe in the banking system. Moreover, remember that banks and institutions like mutual funds are financial intermediaries. That is, they accept deposits from ... See all stories on this topic » | ||
| Osborne under fire for £747m Northern Rock sale Herald Scotland George Osborne was accused of selling Northern Rock “for a song” to Virgin Moneyyesterday despite the ongoing global financial crisis. The Tory Chancellor defended the sale of the bank, saying it represented the “best deal” for taxpayers. ... See all stories on this topic » | ||
| Friday Papers: Peripheral eurozone bank loans slashed Citywire.co.uk Daily Mail: Britain's 'Big Five' banks are openly pilfering interest from savers by paying less than the 0.5% Bank of England base rate on two in five accounts, a This is Moneyinvestigation has found. Financial Times: UBS has outlined long-awaited ... See all stories on this topic » | ||
| Greece can write off $70b unpaid taxes: EU Crisis Herald Sun The team is expected to remain in Greece for up to three years as Athens reforms theeconomy in exchange for EU and IMF bailout loans. The biggest problem right now is the banks who have been weakened by a deep recession - the economy is expected to... See all stories on this topic » | ||
| Merkel Rejects ECB as Crisis Backstop in Clash With France BusinessWeek French Finance Minister Francois Baroin renewed a clash with Germany over using the ECB as a backstop, saying in a speech in Paris late yesterday that central banksupport for Europe's rescue fund is the best way to counter the crisis. ... See all stories on this topic » | ||
| Wonkbook: Our curious economic strength Washington Post (blog) Top stories 1) The US economy is actually picking up steam, reports Neil Irwin: "Despite it all, the US economy has entered a strong patch. The outlook in Europe is increasingly gloomy, with the risk rising daily that a financial crisis will cross the ... See all stories on this topic » | ||
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| A Massive Positive Impact Potential: 5 Reasons Colleges and Universities ... Huffington Post (blog) College and university partnerships with credit unions and community developmentfinancial institutions have potential to massively boost sustainable local economiesand reverse the negative trends that big banks perpetuate. $450 billion in the hands ... See all stories on this topic » | ||
| Dollar's Appeal Rising as Threat of another Financial Crisis Builds FXstreet.com There are economic, financial and political benefits in the UK's relationship to the EU; but that also draws in the same troubles. Bank of England Governor Mervyn King put voice to this trouble when he recently said that there was persistent risk to ... See all stories on this topic » | ||
| What price the new democracy? Goldman Sachs conquers Europe The Independent Simon Johnson, the former International Monetary Fund economist, in his book 13 Bankers, argued that Goldman Sachs and the other large banks had become so close to government in the run-up to the financial crisis that the US was effectively an ... See all stories on this topic » | ||
| Merkel digs heels in over plea to open ECB coffers Irish Independent By Emmet Oliver Deputy Business Editor German Chancellor Angela Merkel has defied the financial world by flatly rejecting the idea of bringing in the ECB to bring the eurozone debt crisis to an end. Her comments came as Spain became the latesteconomy ... See all stories on this topic » | ||
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| PRESS DIGEST - Financial Times - Nov 18 Reuters British businessman Sir Richard Branson is taking nationalised bank Northern Rock back into private hands four years after its collapse triggered widespread panic acrossfinancial markets. The UK's Serious Fraud Office is examining whether to conduct ... See all stories on this topic » | ||
| On misunderstanding QE and UK inflation FT Alphaville (blog) As Figure 1 on the front page illustrates, it is typical for an economy to be running ten percentage points below trend after a crisis (partly because any pre-crisis trend would have been boosted by the credit bubble that presages all financial crises) ... See all stories on this topic » | ||
| Investors uncertain of full refund on UK banks Financial News Yesterday, the government sold part of Northern Rock, the first of the UK banksnationalised during the financial crisis, at what looks like a £300m-£600m loss to the taxpayer, though some of that may yet be recouped. It's a good time to ask: will ... See all stories on this topic » | ||
| Reserve Bank kills India growth story Pakistan Observer The increase was promptly used by the RBI to justify still higher interest rates and sharper cutbacks in bank lending, a cycle of disaster that began picking up steam just when the international financial crisis hit in 2008. ... See all stories on this topic » | ||
| Stocks Open Higher Amid Euro Zone Optimism CNBC.com ECB is considering a move to lend money to the IMF that would be used to financebailouts to heavily debt-ridden euro zone countries, according to a report. Meanwhile, other reports say Germany and the ECB remain opposed to the plan, but talks could ... See all stories on this topic » | ||
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| Strauss-Kahn faces police probe over prostitution ring The Australian Mr Strauss-Kahn met two French call girls at the W Hotel hours after agreeing to a 22.5 billion euros loan to Dublin to "to restore confidence and financial stability" in the Irisheconomy. During a meeting at the Austrian Central Bank in May 2009, ... See all stories on this topic » | ||
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| International financial news Ninemsn LONDON - British bank Northern Rock, nationalised at the height of the global financial crisis in 2008, has been sold to Richard Branson's Virgin Money in a deal leaving the taxpayer with losses. NEW YORK - Boeing says Indonesia's Lion Air plans to buy ... See all stories on this topic » | ||
| France gets sucked into the debt crisis. Here's why. GlobalPost We trust that the ECB will take the necessary measures to ensure financial stability in Europe." France would like the European Financial Stability Facility to be given the status of a bank. Then the ECB could lend it money and that money could be used ... See all stories on this topic » | ||
| Treasury raises $12.2 million from warrant sales Bismarck Tribune By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) -- The Treasury Department has raised $12.2 million from the sale of warrants of 17 banks that received government support during the financial crisis. The sales are part of the government's ... See all stories on this topic » | ||
| UBS Sets Profitability Goal, First Cash Dividend in 5 Years BusinessWeek The shift in strategy coincides with another round of management upheaval at UBS, which was ravaged by more than $57 billion of credit-related losses during the financial crisis of 2008. Wheeler cut his rating on UBS to “underperform” from “outperform” ... See all stories on this topic » | ||
| Stock Market - A Coiling Spring ? Equities.com The SuperCommittee has been lost in the shuffle, upstaged by international financialworries and the state of our economy here at home. Nevertheless, it will raise its ugly head to remind us whether our government is, or is not, dysfunctional. ... See all stories on this topic » | ||
| The euro crisis The Economist Gerhard Schick, in charge of financial policy for the Greens, argued that giving the EFSF a banking licence would be far better than giving it leverage. He also praised a recent proposal by Germany's five-person Council of Economic Experts to set up a ... See all stories on this topic » | ||
| US Banks Could Benefit From Europe's Crisis: Bove CNBC.com Banks seesawed in Thursday trading, dipping lower about 15 minutes after the close of the European markets. The principal worry is that while the eurozone bailout mechanism — the European Financial Stability Fund [cnbc explains] — might be able to ... See all stories on this topic » | ||
| US Banks Tumble on Eurozone Crisis Exposure Kozmedia News Fitch said that if the crisis will not be resolved soon, shares of US banks will continue to suffer. In the last hour of trading, the Dow Jones fell sharply and closed 1.6 percent lower, with financial stocks absorbing the impact of the selloff. ... See all stories on this topic » | ||
| Zim offers a lesson that can rescue Europe from its Eurozone financial imbroglio Bulawayo24 (press release) (blog) Germany law makers are very skeptical of the central banks' so-called quantitative easing (ie euphemism for printing excess money). In a nutshell, members of a single monetary union cannot independently print their own money to finance their debts and... See all stories on this topic » |
| IMF Survey: Afghanistan to Get $133.6 Million IMF Loan Afghanistan has started to take corrective steps in wake of Kabul Bank crisis; IMFprogram provides framework to manage economic impact of troop ... to effectively manage the Kabul Bank crisis and strengthen the financial sector based on .... area of anti-money laundering, and enhancing supervision and enforcement; and ... www.imf.org/external/pubs/ft/survey/so/.../CAR111511A.htm |
| G20 seeks more talks on eurozone crisis - FT.com - Financial Times If the German central bank – which has independent control of the country's foreign exchange reserves – can be reassured, a G20 finance minister's meeting will ... www.ft.com/.../a2e083e0-089b-11e1-9fe8-00144feabdc0.htm... |
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