EU officials keep working on rescue plan

Source: Bloomberg
© Scanpix/Reuters

1.       On Thursday night European leaders worked on plan how to stop debt crisis that has been extending for more than two years and created much doubt on the stability of Euro. Officials discussed the fiscal impact aimed at restoring bondholder confidence and allowing ECB and IMF to provide contributions to the rescue fund. However, no consensus has yet been reached. 

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Fri, 09 Dec 2011 07:55:19 GMT

Euro to reach one-week low against US dollar

On Friday Asian trade Euro moved close to one-week record low against the greenback after European officials failed to reach unanimous agreement for halting debt crisis. 17-nation currency fell from $1.3341 yesterday to $1.3334 in Tokyo morning trade and in total has lost 0.4% since December 2. Euro has lost 0.9% against Japanese Yen this week. EUR/USD currently is trading at $ 1.3313 and EUR/JPY

Fri, 09 Dec 2011 07:51:44 GMT

European banks suggested to raise capital according to EBA guidelines

European watchdogs advised banks to avoid reducing lending or artificially inflating capital. European financials are required to strengthen their core capital ratios at 9% of risk weighted assets by the summer 2012. However, European Banking Authority said the money should be raised from retained earnings, lower bonuses and investors.

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