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Policymakers want to make it easy and quick to wind up an ailing bank so that it does not destabilize the broader financial system as seen with the crash of Lehman Brothers in 2008.

G20 officials see no deal on bank levy

By: Reuters | Thursday, June 3, 2010

The Group of 20 has pledged a string of reforms to financial regulation in a bid to avert a rerun of the worst financial crisis since the 1930s that forced governments to use trillions of dollars of taxpayer cash to shore up banks.

Luxury sector will outperform in 2010

By: EBR | Wednesday, June 2, 2010

Watches and spirits are set for a solid rebound this year, with LVMH, Swatch and Richemont top of the list of luxury stocks with the biggest upside, Paris-based luxury fund SG Gestion said.

The Organization for Economic Cooperation and Development predicts the euro zone will be the world′s growth laggard, growing at 1.2% this year and 1.8% in 2011, while the U.S. racks up growth of 3.2% in both years, and Japan records 3% and 2% growth rates in 2010 and 2011, respectively. And those projections might be overly optimistic: retail sales in the euro zone have declined for five consecutive months.

To Save the Euro, Cut Red Tape

By: EBR | Tuesday, June 1, 2010

Bailouts and fiscal coordination are all well and good. But to get the growth needed to bring deficits under control, the euro zone needs to reduce its more stifling regulations, says Robert Zoellick. He's right.

"We′re not back to the crisis days of 2008. The banks are not going into this period of turmoil with anything like the balance sheet structure they had two years ago, they are in much better shape," said Simon Maughan, analyst at MF Global."We′re not back to the crisis days of 2008. The banks are not going into this period of turmoil with anything like the balance sheet structure they had two years ago, they are in much better shape," said Simon Maughan, analyst at MF Global.

Markets fret, but chance of big bank crash slim

By: Reuters | Saturday, May 29, 2010

This week's market jitters that banks were heading back to the darkest days of 2008 look overdone because lenders have vastly improved their assets and central banks stand ready with abundant funding.

America′s interest lies in preventing a repetition. We ought to support Europe′s rescue package. Europe′s problems don′t belong to it alone; markets are global.

Why the U.S. should support Europe′s rescue package

By: The Washington Post | Thursday, May 27, 2010

The European Union's decision to rescue Greece and to create a massive financial safety net for its other vulnerable debtors is a momentous event -- though success is hardly guaranteed. Contrary to popular belief, the main purpose was not to save Greece but to prevent another financial panic.

Now, the German ant nest is very close to some small colonies of grasshoppers. German ants say: “We want to be friends. So why do we not all use the same money? But, first, you must promise to behave like ants forever.” So grasshoppers have to pass a test: behave like ants for a few years. The grasshoppers do so and are then allowed to adopt the European money.

The grasshoppers and the ants – a modern fable

By: The Financial Times | Wednesday, May 26, 2010

Everybody in the west knows the fable of the grasshopper and the ant. The grasshopper is lazy and sings away the summer, while the ant piles up stores for the winter. When the cold weather comes, the grasshopper begs the ant for food. The ant refuses and the grasshopper starves.

For Paris the answer is obvious -- Germany should boost domestic demand and cut taxes to encourage imports. For Berlin, the answer lies outside its borders -- other countries should simply copy it, primarily by lowering wages.

Economic Governance divides France and Germany

By: Reuters | Thursday, May 20, 2010

Germany's curb on speculative trading has cast doubt on Europe's ability to build the sort of economic governance that many believe is now essential for the euro's survival. At the heart of the problem are core contradictions between France and Germany, with no easy solutions in sight.

Across Europe, about 60% of the population use internet regularly and 48% on a daily basis. These levels compare well to the US where 56% use internet daily and 65% used it in the last three months. Nevertheless, in both the EU (30%) and the US (32%) about one third of the population has never been online.

Investment in Digital Economy holds key to Europe′s future prosperity

By: EC Press Room | Wednesday, May 19, 2010

Six out of ten Europeans regularly use the internet. However, if Europe wants to fully exploit the potential benefits of the digital economy, it must step up a gear and provide faster broadband and an internet people trust, improve citizens' skills, and encourage even more ICT innovation.

Most solutions to rebuilding trust in the financial industry boil down to four generic approaches: structural, regulatory, compliance, and incentives. They are all rooted in either economic or legal perspectives.

Rebuilding Trust in the Financial Sector

By: Business Week | Tuesday, May 18, 2010

Trust is the bedrock of financial institutions, according to authorities including, but hardly limited to, the two cited above. Yet trust in the financial sector lags even trust in government, itself now at a 50-year low, according to recent survey data from Pew, Edelman, and Harris.

Inevitably, the crisis on Wall Street has revived the never-ending notion that markets undermine morality. Oliver Stone, ever restless to recapture the days of former glory, has begun production on a sequel to the 1987 movie Wall Street, which immortalized Gordon Gekko as the symbol of markets and greed.

Feeble Critiques: Capitalism′s Petty Detractors

By: EBR | Monday, May 17, 2010

When the twin crises erupted on Wall Street and Main Street, each one of them fierce in itself but far more frightening when they interacted, populists rushed forward to celebrate the demise of capitalism and, for added gratification, plunge their pitchforks into its dead corpse.

Greece is the destination where comfort, style and culture are combined with sun, sea and joy to provide a true holiday experience. Greek tourism sector is investing at large in modernization, and is ready to welcome guests for the 2010 season.

Greek Tourism ready for the Summer

By: EBR | Monday, May 17, 2010

Greece is the destination where comfort, style and culture are combined with sun, sea and joy to provide a true holiday experience. Greek tourism sector is investing at large in modernization, and is ready to welcome guests for the 2010 season.

Member States would benefit from early coordination at European level as they prepare their national budgets and national reform programmes. Early guidance at the beginning of each year from the European Council on economic policies would facilitate the preparation of Stability and Convergence Programmes and National Reform Programmes.

Commission proposes reinforced economic governance in the EU

By: EC Press Room | Wednesday, May 12, 2010

The recent crises and the risk for the stability of the euro area have underlined vividly the interdependence and exposed the vulnerability of Member States, in particular inside the euro area. The European Union and Member States have taken coordinated and determined action.

The package of standby funds and loan guarantees that could be tapped by euro zone governments shut out of credit markets, plus central bank liquidity measures and bond purchases to steady markets surprised financial analysts by its sheer scale.

European banks buy bonds after $1 trillion rescue package

By: Reuters | Monday, May 10, 2010

European central banks began buying euro zone government bonds under a $1 trillion global emergency rescue package agreed on Monday, sending the euro and European stocks and bonds surging on relieved markets.

Financial markets have been pounding euro zone countries with high deficits or debts as well as low economic growth, threatening to force Portugal, Spain and Ireland into a position where, like Greece, they would need to seek financial aid.

Euro zone agrees emergency steps to contain crisis

By: EBR | Friday, May 7, 2010

Euro zone leaders decided on Friday they have special measures ready before financial markets open on Monday to prevent financial turmoil in Greece spreading to other countries such as Spain and Portugal.

EU Commissioner for Economic and Monetary Affairs, Olli Rehn, said:

Gradual economic recovery in progress in the EU

By: EC Press Room | Wednesday, May 5, 2010

The Commission's spring forecast confirms that the economic recovery is in progress in the EU. After having experienced the deepest recession in its history, the EU economy is set to grow by 1% in 2010 and 1¾% in 2011. This implies an upward revision of ¼ percentage point for this year.

EU transport ministers agreed on a single EU immediate response to the ash cloud crisis: a strong message given to the air transport sector.

Key outcomes of the Extraordinary Transport Council

By: EC Press Room | Wednesday, May 5, 2010

EU transport ministers were able to agree on a single EU immediate response to the ash cloud crisis: this is a strong message given to the air transport sector. They supported the Commission's approach on the need for flexibility to ease the pressure on airlines.

Many Greeks never miss an occasion to mention the importance of the solidarity between member states , in the hope that the country will not find itself standing all alone.

Greece crisis: how your average Greek yacht-owner is clamping down

By: Cafebabel.com | Tuesday, May 4, 2010

Greece’s ‘creative accounting’ has wreaked havoc. Whilst the EU examines ways in which to help the Greek economy, are the Greeks ready to overturn their state of mind in order to exit the crisis? Judith Sinnige from Cafebabel.com expresses her views.

The skeptical Millionaires club

By: EBR | Tuesday, May 4, 2010

An exclusive club whose members must have at least $10 million in investable assets and pay $30,000 a year, TIGER 21 is a veritable beehive of skepticism about the industry that wants to get its hands on their money.

EU, IMF agree 110 billion euros bailout for Greece

By: Reuters | Sunday, May 2, 2010

European finance ministers triggered a record 110 billion euro bailout for debt-stricken Greece. Euro zone ministers, approved the three-year package of emergency loans and agreed the first funds would be released in time for Athens to make a big debt repayment to creditors on May 19

Greece is in discussions with the European Union and International Monetary Fund (IMF) on a multi-year rescue package that some officials have said could total up to 135 billion euros ($180 billion).

Greek rescue momentum builds

By: Reuters | Thursday, April 29, 2010

ECB Governing Council member Axel Weber said on Thursday the impact of any Greek debt default on other states would be "incalculable" and urged quick approval of an aid package to prevent market upheaval and contagion to other states.

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EU Actually

A mission impossible for Sébastien Lecornu, Macron’s 5th Prime Minister?

By: N. Peter Kramer

President Emmanuel Macron has again named a close ally, Sébastien Lecornu, as the new French prime minister, 24 hours after a vote of confidence ousted François Bayrou.

Europe

France in fresh political crisis after MPs oust prime minister

France has been plunged into a new political crisis with the defeat of Prime Minister François Bayrou at a confidence vote in the National Assembly

Business