Site Archives press-cuttings
Darling says banking regulations need work
LONDON (Reuters) – The problems facing embattled bank Northern Rock show that international banking regulations need improvement, Chancellor Alistair Darling said on Sunday.
Darling, speaking on Sky TV, said he had discussed the issue with other finance ministers last week and that discussions should continue later this year in order to bolster regulations and make them [...]
Give them credit (nobody panic)
”Central banks are not supposed to be tightening credit when markets are in complete disarray,” said John Richards, head of Asia-Pacific Strategy at RBS Securities.
”And this is close to a complete disarray.”
The Bank of Japan and the Reserve Bank of Australia followed the European Central Bank and the US Federal Reserve by pumping additional funds [...]
Zimbabwe launches $200,000 note
Zimbabwe is to start circulating a new 200,000 Zimbabwe dollar note, in a bid to tackle the country’s inflation, the highest in the world. The new note, issued by the Reserve Bank of Zimbabwe from Wednesday, can buy 1kg (2.2lb) of sugar. Food and fuel shortages have become common as the government relies more heavily [...]
Italy to use gold reserves to cut national debt
Part of the gold and currency reserves of the Bank of Italy will be used to attack Italy’s enormous national debt, currently the equivalent of 107 per cent of GNP, according to a resolution approved by parliament on Tuesday as part of Romano Prodi’s coalition government’s “Document of Economic and Financial Programming” for 2008-2011, the [...]
Imagine if our leaders were chosen on World Bank lines
David Woodward, The Guardian, Thursday June 14, 2007
Nominations close tomorrow for a new World Bank president, little more than two weeks after the resignation of the disgraced Paul Wolfowitz. On June 30, as Wolfowitz leaves his Washington office, across the Atlantic in London Gordon Brown will be stepping through the doors of No 10 to [...]
Putin calls for new financial world order
By Neil Buckley and Catherine Belton in St Petersburg
Published: June 10 2007 19:10 | Last updated: June 10 2007 19:10
Russian president Vladimir Putin called on Sunday for a radical overhaul of the world’s financial and trade institutions to reflect the growing economic power of emerging market countries – including Russia. Mr Putin said the world [...]
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