On Wednesday, as FT Alphaville has already illustrated, European finance ministers failed to agree legislation that would enshrine Basel III bank capital rules into law. This despite all those involved having already agreed in principle to Basel III back in 2010.
So why the failure to agree? Read more
It went on so long even the translators gave up – there was sure some mud-slinging going on in Brussels on Wednesday as European finance ministers met to try to agree legislation to implement Basel III rules on bank capital.
One could be forgiven for wondering how this is even still a debate at all. Read more
What was it Winston Churchill said about the Americans? They could always be counted on to do the right thing after they exhausted all the other options.
Could same could be said about Eurozone finance ministers, who are now considering using the European Financial Stability Facility mechanism to directly purchase government bonds — about seven months after the idea was first floated. Read more
The upward trend in Italian government bonds, of course.
It’s ‘Greek bailout’ hype Friday, which means the eurozone finance ministers are once again preparing to talk aid packages over the weekend.
A Reuters snap confirmed that there would indeed be (yet another) ministerial huddle: Read more