London Could Lose Out Over Eurozone Banking Union
Opposition to an EU budget freeze and to Britain’s joining a eurozone banking union could cost the City of London its position at the top of the world’s financial centers.
European Banking Union Not Enough: Investors
Investors, apparently, not only lack faith in officials to take decisive action on the debt crisis but also do not seem to believe that a bold solution proposed by some can work—because it does not go far enough.
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.