EU to unveil new plan to protect taxpayers' money from financial crisis

Note: This section contains information in English only.
Source: BBC
The European Commission designed proposals of new legislation aimed at protecting taxpayer's money from being spent on bailing out banks. Proposals suggest that bank shareholders as well as creditors have to cover bank's losses. The plan is likely to decrease vulnerability of the entire financial system to economic instability in peripheral countries. However, the new law is expected to come in force not earlier than in 2014.


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Wed, 06 Jun 2012 10:39:23 GMT

Nikkei 225 extends rally for the second straight session

Japan's Nikkei Stock Average rallied on Wednesday for a second straight day lifted by weaker Yen and renewed hopes for China monetary accommodation. Nikkei 225 surged 1.81% or 151.53 points and closed at 8,533.53. Dollar strengthened 0.5% and Euro added 1% versus Japanese currency. Exporters who generate most of their earnings abroad advanced sharply. Nippon Sheet Glass jumped 11% and

Wed, 06 Jun 2012 10:17:24 GMT

Gold moved higher on monetary stimulus hopes

Gold futures gained in Asian session on Wednesday ahead of key meetings of the ECB and Fed that may announce easing measures in view of weak economic state. COMEX gold August contract traded at 1,625.35 US Dollars per troy ounce on the New York Mercantile Exchange, gaining 0.52%. Meanwhile, COMEX silver for delivery in July traded at 28.587 US Dollars

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