Hungary u-turns on central bank law
Friday 20 Jan 2012 | [email protected] The Hungarian Prime Minister appears to have partly backed down on a plan to merge the country’s central bank with its financial market regulator after the European Commission launched infringement proceedings against it earlier this week.
And then there were four…
Thursday 19 Jan 2012 | David Marsh
Things will really start to go downhill now that there are only four top-rated European countries within the economic and monetary union says David Marsh, co-chairman of the Official Monetary and Financial Institutions Forum and ex-European editor for the FT.
China cracks down on hot money
Thursday 19 Jan 2012 | Karina Whalley
China has investigated over $16bn in irregular cross-border capital flows during the past six months in an effort to crack down on hot money flowing in and out of the country.
IMF could be set for $600bn funding hike
Wednesday 18 Jan 2012 | [email protected] The International Monetary Fund is to ask its members for $600bn (€468bn) in further funding to help insulate the global economy against the eurozone debt crisis, according to reports.
Barroso hits out at ‘insufficient’ action
Wednesday 18 Jan 2012 | [email protected] European Commission president José Manuel Barroso has hit out at eurozone leaders for coming up with inadequate measures to evenly boost growth across the continent.
Greece talks on bond payments resume
Wednesday 18 Jan 2012 | Karina Whalley
Talks between Greece and private lenders will resume on Wednesday, after discussions mooting a 50 per cent debt haircut broke down last week.
HKMA relaxes RMB bank regulations
Wednesday 18 Jan 2012 | Karina Whalley
The Hong Kong financial watchdog says conditions are “ripe” to relax regulation on banks trading the Chinese renminbi currency in a bid to make HK an offshore RMB business centre.
Commission launches action on Hungary
Tuesday 17 Jan 2012 | [email protected] The European Commission has launched infringement proceedings against Hungary, demanding changes to its controversial central bank legislation that it deems incompatible with EU laws.
Schulz elected leader of EU Parliament
Tuesday 17 Jan 2012 | Karina Whalley
German MEP, Martin Schulz has been ushered in as the new president of the European Parliament until mid-2014.
EU bailout mechanism loses AAA status
Tuesday 17 Jan 2012 | Karina Whalley
The European Financial Stability Facility has had its credit rating slashed to AA+ by Standard & Poor’s after the agency downgraded two of the bailout fund’s guarantors, France and Austria.
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