SHANGHAI (Reuters) - Raising capital has become "fundamentally impossible" for European banks, the chairman and CEO of France's Societe Generale said on Friday, in a stark reflection of the concern over the health of banks in the region.
SHANGHAI (Reuters) - Raising capital has become "fundamentally impossible" for European banks, the chairman and CEO of France's Societe Generale said on Friday, in a stark reflection of the concern over the health of banks in the region. "Investors lack confidence," Frederic Oudeahe told a financial forum in Shanghai. "Raising capital today is fundamentally impossible." Europe's widening debt crisis has left many of the continent's banks strapped for cash and dependent on the European Central Bank. ...
After years of waiting, a major trade agreement between the EU and the U.S. – the world’s two biggest trading partners – is finally on the negotiating table. Aimed at expanding commerce by unifying regulations and cutting tariffs, the Trans-Atlantic Trade and Investment Partnership (TTIP) negotiations come at a time when Europe is only just emerging from recession and the U.S. continues to grapple with its own aggravatingly slow recovery. If the two sides agree on an ambitious deal, it could provide a major boost for both economies and create millions of new jobs.
The jobs report is on Friday. On Friday morning, the BLS will release its September report on nonfarm payrolls. Last month, the jobs report disappointed, with nonfarm payrolls gains in August coming in at 142,000, well below expectations for 230,000.
The war of words between Europe's unelected monetary-policy dictator Mario Draghi and Germany's "but it's us that pays for all this" Bundesbank has been gaining momentum since Jens Weidmann penned his Op-Ed slamming Draghi's OMT 'whatever it takes' as "too close to state financing" in 2012.
Brussels (AFP) - Europe faces a near impossible choice between giving debt-laden Greece a chance or pushing it out of the euro and risking global turmoil, analysts said Sunday, after Greek voters overwhelmingly rejected international creditors' terms.
Madrid Threatens Intervention as Regional Debt Worries Mount
The Financial Times reports Madrid threatens to intervene in regions
Madrid has threatened to seize budgetary control of wayward Spanish regions as early as May if they flout deficit limits, officials said – as investors took fright at the fragility of some eurozone economies.
EUROPEAN banks are busy submitting data for the second year of Europe’s much maligned stress tests. Attention has so far focused on the flaws left over from the 2010 tests. The “stressed” scenarios banks are measured against are not all that stressful (a Greek default, for example, is still considered impossible). But a more fundamental problem is being ignored: the methodology relies on self-reporting by banks.