German Finance Minister Wants to Change EU Treaties
German Finance Minister Wolfgang Schaeuble is advocating changes that will allow the EU’s monetary affairs commissioner to reject national budgets and prevent non-eurozone countries, like Britain, from nixing eurozone-only measures.
IPOs Could Get Easier in U.K.
The U.K. is considering mimicking key provisions of the U.S. JOBS Act, including offering more lenient rules on IPOs.
Britain Could Leave EU: Blair
Former Prime Minister Tony Blair of Britain is “deeply worried” over the possibility that Britain could say farewell to the European Union.
U.K. Recession Deepens
As the world counts down to the opening of the Olympic Games in London on Friday, Londoners—and others in Britain—are dealing with an economy that in Q2 of this year slowed considerably more than expected.
Probe of Libor Scandal Set by British Parliament
An investigation into the rigging of Libor has been set by the British Parliament as the City of London worries that its reputation as the world’s top financial center has been damaged beyond repair.
Barclays’ Chief Quits as Outcry Over Libor Grows
A day after he insisted he had no intention of stepping down, Bob Diamond resigned as head of Barclays Bank effective immediately, bowing to pressure from lawmakers outraged over the manipulation of Libor rates on his watch.
RBS Next to be Fined in LIBOR-Rigging Scheme
The inquiry into a LIBOR-rigging scheme looks set to claim another quarry as RBS will reportedly be fined about 150 million pounds.
Spain Auction Beats Target
Although yields were at a high not seen since November, Spain exceeded its target at a Thursday bond sale, easing fears that financial markets were closed to the country.
E.U. Leaders Still Disagree as Crisis Simmers
Chancellor Angela Merkel of Germany met with resistance at home to her austerity-only position even as Prime Minister Mario Monti of Italy gave a different account of Wednesday’s summit meeting than was offered by the Luxembourg prime minister, Jean-Claude Juncker.
Greece Should Remain in Eurozone: G8
Greece should remain in the eurozone despite its financial woes, according to a communique issued by the G8 gathering at Camp David during the weekend.