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Whilst the world’s attention has been focused understandably on a supposed “deal” emerging at the European Council summit in Brussels, I have just witnessed an extraordinary press conference from the President of the European Central Bank in Frankfurt.
As six central banks take steps to bring down the cost of borrowing, a stockbroker tells Channel 4 News there is likely to be further pressure on eurozone leaders to resolve the debt crisis.
When David Cameron travels to Berlin to meet Chancellor Merkel, top of the agenda will be coaxing the European Central Bank in Frankfurt to act as last resort lender to the Eurozone’s troubled nations reports Economics Editor Faisal Islam.
French banks can “withstand whatever development” the country’s central bank chief Christian Noyer tells economics editor Faisal Islam.
The Governor of the Bank of England Sir Mervyn King says this is the ‘biggest financial crisis’ the world has ever faced as the bank increases its quantitative easing programme to £275bn.
Five of the world’s most powerful central banks have flooded the international financial system with dollars to stave off a liquidity crisis in European banks.
The numbers were already big and got bigger. People inured to millions, billions and trillions can be nonetheless horrified by a nation that needs to shove nearly half its GDP into the banks. But the Irish bank stress tests are important for what was missing. The suggested hit to the people that provided the kerosene…
Ireland’s Central Bank revealed a £61bn black hole in its banking system today, as the government announced radical restructuring plans for the sector in a desperate attempt to calm nervous markets.
As the details of the EU/IMF deal to rescue Ireland’s economy are finalised, what could be the impact on other countries potentially at risk of financial breakdown?
Our Economics Editor says today’s news from Ireland’s second biggest bank – AIB – has echoes of the situation in Britain before the recapitalisation two years ago.
Ireland considers applying for European Union aid to help its banks in a bid to avoid having to rely on a full EU bailout. Economics Editor Faisal Islam asks whether Britain should step in.
As Irish taxpayers brace themselves for another bank bailout, our Economics Editor Faisal Islam says the prospects should be better in Britain.
Jon Snow
Channel 4 News presenter Jon Snow insists there are no signs of increaed credit being made available in Europe despite the campaigns by politicians and senior economists.
Today the chancellor is going into the lion’s den to defend the bankers. Europe feels that Britain failed to regulate the City ‘casino’ properly, and helped stoke the financial disaster that caused the recession across Europe. The European Commission has come up with proposals that would give two continent-wide institutions the ultimate ability to regulate…
If Greece misses crucial payments to the IMF and the European Central Bank, it could force the country out of the euro and, ultimately, the EU. So what would Grexit mean for Greece?