Economics
Spain’s €15bn austerity plan is flawed, warns leading economist
The Spanish government has made plans for austerity measures based on growth forecasts that far outpace those of the IMF and EU.
Fiscal austerity measures could hit corporate credit, analysts warn
As governments across Europe announce austerity measures designed to rein in deficits, sovereign and corporate bond investors are divided over the scale and timing of the cuts.
Retail bonds could be part of solution for ailing European sovereigns
Barclays Capital economist says Spain and Portugal should look to replicate Italian government in tapping retail investors for future bond deals.
EXCLUSIVE: Greece debt crisis may break the Eurozone
Fears mount over Greece's ability to reduce fiscal deficit and service debt repayments, despite Eurozone-IMF bailout package.
Z-Score architect launches new rating metrics: Edward Altman profile
Edward Altman, the high yield and credit risk expert, tells Credit that his new initiative for evaluating creditworthiness of non-financials has an error rate almost half that of the rating agencies.
European oil refineries profitability to drop off
European oil refineries have little chance of making profits for companies over the next two years, despite the sector’s first quarter burst of profitability, say industry analysts.
Euro should not covet reserve role
Panellists in a new CentralBanking.com web seminar say becoming a reserve currency would hamper recovery
“We failed the system”: Carney at RBI panel
Governors including Canada’s Mark Carney and India’s Duvvuri Subbarao point to imbalances as root cause of the crisis, but skirt around concerns over the dollar
CentralBanking.com panel: it’s too soon to exit
Charles Goodhart, Paul Mortimer-Lee, Lucrezia Reichlin and Gabriel Stein concur that dangers are greater from exiting too early than too late but warn that asset prices risk becoming over inflated
Risk Australia : Prudent Australia in bid to steer global risk policy
Australia appears to have escaped the worst of the global financial crisis but senior bankers, leading academics and a representative from the Australian Treasury speaking at Risk Australia 2009 in Sydney today stressed there is no room for complacency…
Spanish rules cushioned banks from the crisis, says top regulator
In an exclusive interview with Risk , José María Roldán, director-general of banking regulation at the Banco de España, explains how a unique regulatory framework has led Spanish banks to adopt prudent trading and risk management processes that paid off…
Green shoots? Green Acres more like
Anyone who believes the economy has turned a corner must be living in a sitcom
Basel implementation chief: no need for Basel III
Daily news headlines
Basel implementation chief: no need for Basel III
Modifications being made to Basel II are sufficient to tackle the flaws in the framework and "we are certainly not going in the direction of Basel III", according to the chair of the standards implementation group of the Basel Committee on Banking…