No end to Deutsche Bank’s problems: new litigations in the US and frailty in EU stress test

Deutsche Bank Towers – Walkway from Tower A to Tower B. Headquarters in Frankfurt am Main. (Deutsche Bank Audiovisual Services, August 6, 2015).

Last Wednesday, Deutsche Bank’s shares fell by 4.5% in the first hour of trading in Frankfurt, after the bank released its second quarter results, showing a measly profit of €20 million, in comparison to €818 million last year. The percentage fall of this stock is the biggest ever in such a brief time in the […]

Berlin and Paris pursue the financial fragmentation of Eurozone

From left to right: Pierre Moscovici, French Minister of Finance, Christine Lagarde, Managing Director of the IMF, Wolfgang Schauble, German Federal Minister for Finance, Maria Fekter, Austrian Federal Minister for Finance. Eurogroup of 24/03/2013. (Council of the European Union photographic library).

The three EU independent authorities which supervise the financial sector of the Union, namely the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA), collectively known as the three European Supervisory Authorities (ESAs), issued yesterday their first joint report ringing the bell of Eurozone […]

The Ecofin Council creates officially the clan of ‘undead’ banks

From left to right, Jean-Jean-Claude Juncker, Prime Minister and Minister of Economics of Luxembourg, Ollie Rehn vice President of EC, Christine Lagarde general manager of IMF. (EC Audiovisual Services).

Today 5 March 2013, in Brussels, without much publicity the Economic and Financial Affairs Council of the European Union, known as the Ecofin Council, is expected to discuss, inter alia, the new draft rules on bank capital requirements (“CRD 4”), including future rules on bankers’ bonuses. Those issues go in pair, in a way that […]