Oh No, Canada! Are We Watching Another North American Financial Crisis Unfold?
For some time during and after the financial crisis, it was fashionable to point to Canada as a paragon of fiscal and regulatory prudence. In the years leading up to the crisis, the Canadian government ran budget surpluses, which enabled it to stimulate the economy without creating huge debt loads we now see in Greece and Spain. In addition, the Canadian banking system faced stricter capital requirements and were more risk-averse than their American and European counterparts. Perhaps most important, Canada avoided the sort of real estate bubbles seen in the U.S. and Great Britain due to tighter lending standards and the absence of mortgage interest deductibility — at least until recently. For the past year or more, Canadian officials have nervously watched as household debt levels has risen to worrying heights, fueled by increased mortgage borrowing. As The Wall Street Journal reported this week: “Borrowing to buy property has helped make Canadians some of the most leveraged consumers ...
Euro weakens as eyes turn to ECB meeting
LONDON - The euro fell to a two-month low on Thursday despite approval of a crucial austerity package by Greece, with investors focused on a European Central Bank policy meeting later in the day.
Found more than 1 month ago on channel Reuters
Europe Markets: Europe stocks recoup on Greek relief, earnings
European stock markets recoup from steep losses the prior day on Thursday as Greece approve a key austerity vote, while investors await policy decisions from several central banks.
Is the IMF going soft on austerity?
Thursday, October 11, 2012 - 04:34 Oli Scarff - WPA Pool /Getty Images Christine Lagarde (L), the Managing Director of the International Monetary Fund, addresses a press conference May 22, 2012 in London, England. Remember the IMF of old -- that flinty and hard-hearted guardian of fiscal rectitude? Could the Fund now be turning into something warm and cuddly? The old image was forged in the Latin American debt crisis of the 1970’s and 1980’s; the Fund became synonomous with austerity. As the lender of last resort, the IMF insisted on deep budget cuts and big tax hikes in the countries that it helped: Argentina, Brazil, Peru, among others. The hard line policies brought short term misery to millions of people and unpopularity for the Fund, and IMF officials were burned in effigy. Today, however, the Fund appears to be changing its tune, and softening its austere approach. In the teeth of the Eurozone debt crisis, Fund officials are beginning to question the benefit of ...
Ireland: ESMA Guidelines On Remuneration Policies Under The AIFMD - Mason Hayes & Curran
The European Securities and Markets Authority (‘ESMA’) has published Guidelines on Sound Remuneration Policies under the Alternative Investment Fund Managers Directive (‘AIFMD’).
Found more than 1 month ago on channel Mondaq