Wednesday, March 20, 2013

Cyprus Banking Crisis Update: Cyprus Reveals Chinks in European Central Bank Armour

Finally European Union agrees on European Central Bank bank regulatory role, Member states of the union will give powers to the European Parliament over the appointment of top officials at the new single supervisor

Deadline nears for 316 RBS branch bids, Consortium of City investors led by a former Tesco finance director is the latest to enter race for the disposal demanded under EU state aid rules

Political news from Syria, Berlin is well placed to lead on Syria, Germany is seen as neutral in world affairs and it should use the trust it has built up as part of a new foreign policy role, says Ulrich Speck

As expected, Cyprus parliament rejects bank levy, Nicosia seeks aid from Moscow in an effort to secure economic assistance as the island's finance minister has his resignation rejected by the president

Cyprus reveals chinks in European Central Bank armour, European sovereign bond markets have largely shrugged off the threat to financial stability but it is a reminder of the limits of central banks' powers

Meanwhile, Bank bailouts reshuffle risk hierarchy, The Cypriot rescue plan, while likely to be moderated, shows how eurozone policymakers have taken increasingly aggressive actions

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