Tuesday, 8 November 2011

EU: we'll make UK cut bank bonuses

http://www.independent.co.uk/news/world/euope/eu-well-make-uk-cut-bank-bonuses-6257548.html

Spain Could Be Fined On High Unemployment Rate

Spain could be fined by the European Union for its high unemployment rate as the EU is planning to include that indicator as one of the assessment criteria to measure economic imbalances amongst its member states, reports El Mundo in its Tuesday Internet edition.
If the measure is approved, EU nations will have three years to bring their unemployment rates to a maximum of 10% or face fines of up to 0.l% of their gross domestic product.

IFR Comment: EIB to support banks?

Keep in mind that the EIB is an institution backed by the 27 EU members of which four countries are its largest and equal shareholders including Germany, France, Italy and UK.

Euro bank troubles risk new emerging market jolt

If European banks are forced to cut back lending to rebuild shot balance sheets, the ensuing credit shock could hit developing countries worldwide as much as those at the center of the euro zone storm.
With Europe's banks accounting for almost two thirds of the foreign lending to global emerging markets, the fear is their retrenchment could drain those economies set to provide about 70 percent of world growth next year.This latest so-called "negative feedback loop" from the euro zone sovereign debt crisis is yet another potentially damaging blow to a global economy already experiencing shocks to both business sentiment and planning as well as bank funding strains.

http://www.reuters.com/article/2011/11/07/us-emerging-banks-euro-idUSTRE7A63JV20111107

Danish Recession Threat Has Firms Pleading for Bank Credit

http://www.businessweek.com/news/2011-11-07/danish-recession-threat-has-firms-pleading-for-bank-credit.html
EIB cuts funds for small businesses
Lloyds is the latest bank to secure small business loan funds from the European Investment Bank (EIB) but sources say the Luxembourg-based lender is scaling back
http://www.telegraph.co.uk/finance/yourbusiness/8860693/EIB-cuts-funds-for-small-businesses.html
UPDATE 2-EU examines bigger role for EIB, bank guarantees
http://www.reuters.com/article/2011/11/07/eu-eib-banks-idUSL6E7M72JO20111107


E U BRIEF

Barroso says all available powers must be used

EU GOVERNMENTS should not rely on treaty change to help save the euro, European Commission President Jose Manuel Barroso warned in Brussels last night.
Instead it is necessary to use whatever powers are available to the EU, he said. "When putting out a fire you do not look to create better equipment but you use whatever is available...we must respond to this emergency," he told a conference of the European People’s Party.
http://www.irishexaminer.com/opinion/columnists/ann-cahill/barroso-says-all-available-powers-must-be-used-173212.html

The left must abandon the EU
http://uk.news.yahoo.com/comment/talking-politics/left-must-abandon-eu-133716733.html


Posted by Britannia Radio at 08:18