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Bank for International Settlements – General Manager’s Speech: It’s Time to Address the Root Causes
Speech delivered by Mr Jaime Caruana, General Manager of the BIS, on the occasion of the Bank’s Annual General Meeting, Basel, 24 June 2012: Good afternoon, ladies and gentlemen. Five years after the start of the financial crisis, the world
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G20 Summit: Merkel still wants both Austerity and Growth in the Eurozone… but still no clue as to who will pick up the tab
Angela Merkel brushed off criticism of her focus on austerity, as the leaders of the world’s 20 largest economies focused their attention on the crisis in the Eurozone. In Los Cabos the EU largely postponed the discussion on the specifics
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MIGA (World Bank): During the Storm – Shift from North to South FDI
By Manabu Nose and Moritz Zander[1] At MIGA (the Multilateral Investment Guarantee Agency) we see the principal near-term risks for emerging market foreign direct investment (FDI) on the supply-side of financing. Despite a rise of emerging market risk perceptions, demand
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To Converge or Not To Converge – the Greek Tragedy Continues
It seems a long time ago, but when the Euro was introduced, one of the cornerstones for membership and for the long term success of the Euro was convergence of economies within the zone. Convergence does not seem to be
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Stuart Gulliver keeps HSBC on Track for Focused Global Growth
HSBC is one of a hand full of truly global banks with both corporate and personal customers. As globalisation continues HSBC is extremely well positioned to take advantage of the shift of economic power to Asia, with its strong position
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Dimon: Traders at JPMorgan Chase may face Bonus Clawbacks as Punishment
At the Senate Banking Committee on Capitol Hill, Jamie Dimon, 56, the CEO of JPMorgan Chase explained how some of the traders responsible for the losses would get hit in their wallets. “When the board finishes its review, which is
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S&P Surprise Move to Issue Downgrade Warning on India’s Sovereign Debt
Dalal Street An unforeseen warning by global ratings major S&P on the possibility of India losing its investment grade sovereign rating agitated investor sentiments on Monday, a day that started on a strong note for markets globally after the European leaders agreed to a
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Europe’s Depressing Prospects
By Michael Pettis Normally I don’t like to write about European prospects in the midst of a very rough patch in the market because in that case there isn’t much I can say that isn’t already being said. I find
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Share Trading Suspended in the Spanish Lender Bankia, Pushing Spain Ever Closer to Needing a Bailout
The Spanish market regulator CNMV said it was “due to circumstances that may affect the normal share trading”. There are reports that Bankia will ask the government for a bailout of more than 15bn euros ($19bn; £12bn) after a board
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Increased Interest in Poland as a Destination for FDI
Warsaw, Capital of Poland Despite the global economic crisis 2011 proved a strong year for foreign investments in Poland – projects concluded with participation of Polish Information and Foreign Investment Agency in 2011 grew to 173% of 2010 value There
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