From the Financial Times: Spain to reveal bank ‘stress tests’ results “The Bank intends to make public the results of these stress tests, showing estimated loan losses, the consequent capital requirements and the contribution of promised balance sheet reinforcements, so that the markets have a perfect understanding of the circumstances of the Spanish banking system,” [Miguel Angel Fernández Ordóñez, governor of the Bank of Spain, said on Wednesday]. excerpt with permission And from the Financial Times: Berlin agrees to release stress test results The German government has dropped its resistance to publishing the results of bank stress tests ..
Posts Tagged berlin
From the Financial Times: Bundestag backs eurozone rescue Germany’s lower house of parliament on Friday narrowly approved Berlin’s contribution to the European Union’s €750bn package of loan guarantees … The upper house, the Bundesrat, is expected to vote today and passage is expected.
Click on graph for larger image in new window. This graph is from Doug Short of dshort.com (financial planner): “Four Bad Bears”. Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500
From Reuters: Germany, France signal hard line with Greece (ht Jonathan) German Finance Minister Wolfgang Schaeuble warned Greece that a tough restructuring of its economy was “unavoidable and an absolute prerequisite” if Berlin and the EU were to approve the aid Greece has requested. “The fact that neither the EU nor the German government have taken a decision (on providing aid) means the response can be positive as well as negative,” Schaeuble told the Sunday edition of German daily Bild. …
From The Times: Recession is over but stagnation may follow Britain’s economy grew for the first time over a three-month period since May last year, the National Institute of Economic and Social Research (NIESR) said today but warned that the end of recession could turn to a period of stagnation. … “This is the first time our GDP indicator has been higher over a three-month average since May of 2008 and reinforces our view that the recession ended in May of this year.” …
Concerns are switching from the residential to the commercial sector FROM a distance Potsdamer Platz looks a bit like its old self. Once the central hub of Berlin, before it was turned into a rubble-strewn no-man’s-land divided by the Wall, it is now surrounded by shiny new towers
Today’s upcoming G20 Summit of the 20 most industrialized nations in Berlin, Germany today is set to dominate USD trading. Additionally, the forex market is set to go very volatile on the publication on the U.S. Import Prices indicator at 12:30 GMT, and the publication of the U.S
