Eurozone

Eurozone talks stuck on detail of bank rescue fund plan

Leaders in Brussels divided over how to interpret summit accord aimed at easing pressure on highly indebted states

  

European technocrats squabble over the spoils

Another day, another forum for Europe. This time it is the EuroGroup which is meeting to cement some of the technical details around what was announced at the 19th EU Summit. As I mentioned last week I saw the 19th summit as a political success more than an economic one, and any actionable decisions were likely to take many months and a lot of politicking.

Former Barclays boss regrets not sacking Bob Diamond 15 years ago

Martin Taylor regrets not accepting Diamond's resignation after traders at BarCap investment bank broke rules in Russia

The BBC as Apologist for Lying about Libor

The right has a reservoir of writers who can be relied on to defend and even praise elite white-collar criminals, but the center has managed to produce eager apologists for lies.  This column discusses the BBC’s Business Editor, Robert Preston.  The title of his article emphasizes his view that it is exceptionally difficult to know whether the banks’ lying about Libor was desirable: “The elusive truth about Barclays’ lie.”  Preston frames the question in a fashion that favors finding Barclays’ lies desirable. 

 

We're powerless to get truth about bankers, says key MP

Diamond faces recall to Parliament – but Select Committee member says inquiry isn't working

 

Libor Scandal Threatening to Turn Companies Off Syndicated Loans

The scandal surrounding the London interbank offered rate is threatening to undermine confidence in syndicated loans and hasten companies’ flight to bonds. 

Rules of American justice 

An American banker is shocked to be held accountable in Britain