BOE Tells Banks To Tap Buffers As Risks To Stability Mount

The Bank of England Friday urged banks to run down their emergency cash buffers to support greater lending to the U.K. economy, even as it warned the risks to financial stability have increased.

Reserve Bank Of India Warns Of Increased Risks To Financial Stability

(RTTNews) - India's financial system remains robust, but the risks to stability have increased since December largely due to global events and the dismal domestic economic performance, the country's central bank said in a report on Thursday.

France fights to avoid euro zone bank contagion

PARIS: Greece, Ireland, Portugal, Spain, Italy - France?

Europe's Tower of Babel hampers euro solution

PARIS (Reuters) - As Europe considers a leap towards closer integration to try to save the euro single currency, it resembles the biblical Tower of Babel - unable to complete an ambitious project because the residents don't speak the same political and economic language.

Spain requests bank aid, awaits Moody's cut

MADRID (Reuters) - Spain formally requested European aid for its indebted banks on Monday but the lack of details rekindled investor doubts over the financial sector, hours before Moody's was expected to cut the ratings of all Spanish lenders.

A Greek accountant despair

How bad is the economic mess in Greece? Just ask Dimitris Skiadas, a despairing Athens accountant who is struggling to keep his clients' finances in some kind of order in a fifth year of recession.

Moody's downgrade of Bank of America, Citigroup gives edge to safe-haven banks

LONDON/NEW YORK: Major ratings downgrades by Moody's will further divide the world's biggest banks based on their strength and access to cheap customer deposits.

Angela Merkel slaps down direct bank aid at crunch summit

ROME: German Chancellor Angela Merkel reiterated on Friday her opposition to allowing Europe's crisis funds to recapitalise debt-stricken banks directly, stressing that EU treaties did not allow this.

IMF Gets $456 Bln. Boost To Fight Crisis

(RTTNews.com) - The International Monetary Fund added $456 billion to its war chest as 12 more nations, including the BRICS, pledged new money to protect the global economy from the impact of the Eurozone debt crisis at the ongoing G20 meeting in Los Cabos, Mexico.

Worried Banks Resist Fiscal Union

The seemingly endless series of euro zone crises has European officials pushing for a banking union that would watch over and bind together the currency group’s faltering financial institutions.

G20 to confirm IMF loan pledge despite reform delay

(Reuters) - Leaders of the world's major economies are set to confirm they will make new crisis-fighting loans to the International Monetary Fund even though some emerging nations are frustrated with the slow pace of winning more power at the global lender.

World Bank warns that euro collapse could spark global crisis

The outgoing head of the World Bank, Robert Zoellick, will warn the G20 summit that Europe runs the risk of sparking a Lehman-style global crisis that will have dire consequences for developing nations.

Stocks Rise, Buoyed by Hopes for Stimulus

NEW YORK (TheStreet) -- U.S. stocks rose Friday as investors cheered the possibility that central banks would stand ready to coordinate a global liquidity boost if needed after the Greek elections.

France seeks eurozone stability package

(Financial Times) -- France is pressing the EU to adopt a financial stability package to stem the eurozone crisis, believing negative market reaction to the €100bn bailout of Spain's banks shows the need for more comprehensive action.

Spain package important step towards union : Canada

MONTREAL (Reuters) - Canada's top policymakers endorsed on Monday the European Union's rescue package for Spanish banks as an important step toward fiscal and financial integration in the euro zone.

Global regulators chide EU on bank capital rules

(Reuters) - Global bank regulators warned the European Union it risked watering down agreed bank capital rules designed to avert another financial crisis and called for more consistency in implementing the regulations.

Spain relieved, angry over humiliating bank rescue

MADRID (AP) — Spain's grinding economic misery will get worse this year, despite the country's request for a European financial lifeline of up to €100 billion ($125 billion) to save its banks, Prime Minister Mariano Rajoy said Sunday.

Europe bailout of Spain could cost $125 billion

MADRID: Spain will ask for a bailout for banks felled by bad real estate loans, in an about-face that European officials welcomed Saturday and said could cost up to (euro) 100 billion ($125 billlion).

Spain has successful bond sale after tough week

MADRID (AP) — Spain raised €2.1 billion ($2.62 billion) Thursday from the bond markets — but investors demanded a higher interest rate out of concern that the country's troubled banks were weighing heavily on government finances.

UK business confidence plunges on eurozone fears

Business confidence in the UK has plunged on fears over the eurozone crisis and the prospect of a Greek exit, according to a survey from Lloyds Banking Group.

Spain: No request for bailout, says minister

Spain's economy minister has dampened speculation that the country is about to seek a bailout of its bank sector.

ECB to hold the line as euro crisis deepens

NEW YORK (CNNMoney) -- As the euro crisis moves toward a decisive moment, the European Central Bank is under renewed pressure to stabilize the troubled currency union.

Merkel open to idea of European banking union

BERLIN (AP) — German Chancellor Angela Merkel said Monday that she is open to establishing a European banking authority as a long-term solution to the continent's financial crisis.

Europe should ditch the euro, says minister who kept UK out

LONDON: European leaders must throw off the burden of the euro if they want their economies to thrive, said the former finance minister who was forced to take Britain out of the European currency system that proceeded the single currency.

Weak U.S. Hiring Adds to Global Gloom

The United States economy gained a net 69,000 jobs in May, the Labor Department said Friday, a dismal showing that reflected mounting evidence of a global slowdown.

Angela Merkel calls for 'more Europe' as response to crisis

GERMANY: German Chancellor Angela Merkel called Thursday for more powers to be transferred to the European Commission as a response to the debt crisis that threatens to tear apart the eurozone.

Eurozone set-up unsustainable, says Draghi

European Central Bank (ECB) president Mario Draghi says that eurozone leaders must decide what they want the bloc to look like in the future, because the current set-up is "unsustainable".