Spanish banks reduce their dependence on ECB’s funding
MADRID | By José Luis Marco at Capitalmadrid |The Bank of Spain considers that liquidity is no longer a problem and detects a greater international confidence on the country’s financial groups.
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If not the single contract, what then?
VALENCIA | By Cruz Sierra, editor at valenciaplaza.com | One thing is sure: the solution is not to be found in the current complex, over-bureaucratic contract system, or among those privileged classes who enjoy prerogatives that the public system cannot afford.
China’s emerging cities
China turns into a urban nation. A transformation that entails a dramatic achievement and a challenge without precedents in the world. As cities become better places to live they become more expensive too, to the extent that people can’t afford the luxury of inhabiting these mega-cities. Without a fairer model, which fosters job creation and an equal access to resources, urbanization risks undermining the country’s transition towards domestic consumption.
Chinese regulator approves Santander acquisition of 20% stake in Bank of Beijing Consumer Finance
MADRID | Santander will invest €38 million to acquire a 20% stake in Bank of Beijing Consumer Finance Co., becoming its second largest shareholder.
China economic prospects: Heeding the Roar of Bears
BEIJING | By Caixin Magazine | Global opinion on China economic prospects appears to have soured of late. Credit ratings agency Fitch downgraded the country’s long-term local-currency rating from AA– to A+ last month, followed by Moody’s lowering the country’s credit outlook from “positive” to “stable.” Are market bears right? For many, this means Beijing must put reform back on its agenda.
European Union diversity less than meets the eye
PARIS | By Michel de Pracontal, via Presseurop.eu | Markets analysts often augur the failure of the EU project because of national and cultural diversity. But American researchers recently completed a study of genes from the European continent. Their conclusion: all of today’s Europeans are descended from the same ancestors.
Replacing Basel III and bringing more transparency for depositors
MADRID | By José Antonio Santos at Patrivalor | Does the proposed Basel III ratio need to be changed into a more realistic one? Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig believes all of the Basel capital accords, including proposed Basel III, look backward and then attempt to assign risk weights into the future, therefore don’t work. Regulators should focus on another measure of capital that more accurately reflect the capital position of banks: the tangible leverage ratio.
Bloomberg falls victim to speed-journalism
By Skip Worden | The “speed-journalism” at Bloomberg has been a practice at the expense of the customers who were subscribing to the company’s financial-information terminals. They are needed, but what about trusted?
The Eurocrisis won’t kill Europe
Pessimists around the world repeat that the European Union is doomed because of structural weaknesses and the economic crisis. But in many fields, the EU holds its own against world powers like the United States and China, argue Mark Leonard and Hans Kundnani.
British tax havens will disclose evader information
By S. V. at VozPópuli | London has made an agreement with British tax havens such as Anguilla, Bermuda, the British Virgin Islands, Montserrat, Turks and Caicos so they will disclose name, address, date of birth, account number and transactions details of people with accounts in their territories. Then the UK will then send this information to Spain, France, Germany and Italy.