Have European politicians decided to give their banks the job of easing the region’s roiling debt crisis? That’s increasingly the view of investors after last week’s move by the European Central Bank to provide unlimited three-year loans to banks at a 1% interest rate.
European banks
Gottliebsen: a perfect storm for Aussie banks
Suddenly, the year 2012, which promised so much, is starting to look as though it will be ugly for the banking business, writes Robert Gottliebsen.
Italy’s capital punishment
Europe’s debt crisis continued to roil markets overnight, with Italian bond yields surging through the critical 7% level overnight, as European officials mulled over the possibility of a radical reshaping of the eurozone.
Guy Rundle: Europe and how a colony on the moon can save it
Europe is on the brink — and it’s a measure of how fast-moving the crisis is that I must add the phrase “at time of writing”.
Bartholomeusz: banks battening down for funding freeze
According to Australian Prudential Regulation Authority chairman John Laker, bank funding markets are already demonstrating some crisis-like features.
Kohler: surrounded by Europe’s standing armies
Thomas Jefferson definitely got it right 200 years ago when he warned that banks are more dangerous than standing armies.
Maley: the whole market in their hands
European sharemarkets again staged a euphoric rally overnight, on hopes that European politicians will soon unveil dramatic plans for dealing with the region’s raging debt crisis, writes Karen Maley.
Maley: a Greek default in the frame
German Chancellor Angela Merkel tried to calm markets by dismissing speculation about an imminent Greek debt default, writes Karen Maley, of Business Spectator
A stress-test too far for Europe
Depending on balance sheet growth, the four big Australian banks will have to raise roughly $150 billion over the next 2-3 years — in competition with the rest of the international sector and governments, writes Stephen Bartholomeusz.
Business As Usual: China holding off on its melting moments … Commodity prices and echoes of 2008 …
While low prices and high power costs have put China’s aluminium industry on hold, the country is also freezing coal prices. Plus, refinancing Europe’s banks goes better than expected and other business news.
Business As Usual: Upgrade for Rio Tinto … still gloom about Europe … newspapers chase government bucks …
A big French bank has upgraded Rio Tinto, sovereign risk and all, stress test for banks, big global investors are gloomy about Europe, newspapers chasing dollars from government coffers and other business news.
Business As Usual: Germany’s 80 billion euro cuts, new taxes … European banks uneasy with falling euro …
Germany announces Budget cuts and loss of 15,00 PS jobs, while the fall of the euro is unnerving European banks, there is high demand for US debt and other business news of the day.
Business As Usual: NAB sees future in US … China’s monthly check up … Murdoch buys more UK TV channels …
Inflation is tipped to rise in China, Murdoch’s BSkyB picks up some Virgin Media businesses,BP’s spending plenty on lobbying and other business news from around the globe.
Business As Usual: New high for US debt … Europe’s worried banks … pssst, Macquarie Bank, here’s a Grecian bargain …
Worried European banks are stashing money in the bank, there are profit downgrades aplenty emerging here, why the Germans are fun-loving spoilsports and other business news.
Rundle: Europe simultaneously collapses and recomposes
British workers have not yet received the memo about One Europe, or the idea that bosses aren’t lying bastards, writes Guy Rundle.
Allco share price drops to all time low
Allco founder David Coe and directors Gordon Fell and David Turnbull announced yesterday that they are standing down, but not leaving the company just yet, and the share price dropped 25% to an all time low of 60 cents.
Doom and gloom takes risk aversion to a new level
The phrase “risk aversion” no longer adequately covers the growing level of tension and concern on world markets, writes Glenn Dyer.
