Europe
  • Common supervision of European banks, possibly by the European Central Bank, would help restore confidence and protect the financial system, ECB Governing Council member Panicos Demetriades was quoted on Sunday as saying.

    LAST UPDATE : Aug 22, 2012, 11:43 PM EDT
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  • Company culture at Barclays was "deeply flawed" and the Bank of England's hand in removing its chief executive Bob Diamond was hard to justify, a UK parliamentary report into the "disgraceful" rigging of Libor interest rates said on Saturday.

    LAST UPDATE : Aug 22, 2012, 11:43 PM EDT
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  • Greece has inched closer to nailing down the cuts required by its foreign creditors in exchange for financial aid, agreeing €10.8 billion of the €11.5billion worth of cuts demanded, a government official said on Friday.

    LAST UPDATE : Aug 22, 2012, 4:02 PM EDT
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  • Russia's agriculture minister on Friday ruled out a ban on grain exports from the country, fears of which have helped to drive global prices higher following drought in U.S. and Black Sea grain belts.

    LAST UPDATE : Aug 22, 2012, 3:12 PM EDT
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  • Any purchase of bonds from countries such as Spain and Italy by the European Central Bank must be linked to clear commitments to structural reform and budget discipline, German Economy Minister Philipp Roesler says.

     
    LAST UPDATE : Aug 22, 2012, 11:58 AM EDT
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  • The euro zone economy narrowly skirted recession in the first half of the year, but austerity programs across the region and a debt crisis weighing evermore heavily on its periphery suggest the reprieve will be short-lived.

    LAST UPDATE : Aug 22, 2012, 2:06 AM EDT
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  • Germany's economy grew slightly more than anticipated in the second quarter but a closely watched measure of investor confidence dropped unexpectedly, indicating fears are growing that the European Union financial crisis will become an increasing drag on the bloc's largest economy.

    LAST UPDATE : Aug 22, 2012, 2:06 AM EDT
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