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ECB

Markets 9th September 2011

World left tweeting after a stark resignation

LONDON | For the European Central Bank (ECB), Mr Juergen Stark’s resignation from its executive board on Friday was a “personal” matter, and judging by the reaction on the markets that description turned out to be fitting: at 4:00 pm, the euro was trading against $1.37, down 1.6% and at its lowest level since the end of February. “No wonder,” as international financial markets, HF expert and Webster Finance Professor Jacob…

In Europe 2nd September 2011

Ms Lagarde is right (even though the ECB would rather turn a blind eye)

By Miguel Navascués, in Madrid | There has always been tension between the IMF and those countries under its analysis over the numbers in the fund’s economic forecasts. But this time the battle between the IMF’s Ms Lagarde and the European authorities has been set over valuations of sovereign bonds held by the banks. According to Lagarde, were the bonds in the European banks’ portfolios to be valued at their current market price……