Greek interim PM Papademos insists on Greece staying in Eurozone

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Source: BBC
© Scanpix/AFP

Interim PM of Greece insisted on Greece staying in the Eurozone as it is the only option to struggle with crisis. He also stressed the necessity of activating bailout package as soon as possible. Making decisions and implementing policies in line with these decisions is of paramount importance for government, added Papademos.

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Tue, 15 Nov 2011 08:14:19 GMT

IMF warns Chinese banks

On Tuesday representatives of IMF warned China that its banking system is exposed to serious risk. IMF named uncertain national banks' asset quality, credit boom accompanied by rising property prices and lending outside prescribed banking sector as the main threats to Chinese financial intermediaries. According to IMF, Chinese banking system is likely to be seriously affected if several risks create difficulties simultaneously. 

Tue, 15 Nov 2011 08:13:05 GMT

Bank of America sells shares of CCB

Bank of America plans to sell 10.4bn of China Construction Bank shares for about $6.6bn in cash. Bank of America is under pressure because of global crisis and bad loans. The bank has to increase its capital base in compliance with new global regulation Basel III that obliges banks to have higher capital to asset ratio.  

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