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’CDS report: EU nation default risk touches record high
The cost of insuring debt issued by the Irish government leapt higher this morning as Europe’s beleaguered credit derivatives traders swallowed hard on last night’s news the Irish state had finally decided to bail out Anglo Irish bank.
Austria’s Erste takes €2.7bn state injection
Erste Group, one of Austria’s top three banks, yesterday became the first to use a €100bn government recapitalisation scheme, taking €2.7bn. The move reassured investors, who have sold Erste shares heavily on concerns over general financial sector worries and emerging markets.
Viennese count arrested in BAE probe
A Viennese count has been arrested as part of an expanding multi-country investigation into suspected bribery by BAE Systems to win European arms deals. The Serious Fraud Office interviewed Count Alfons Mensdorff-Pouilly and another man on Sunday on suspicion of corruption,