JR8 wrote:... the euro is a political project and not an economic one.
I read the article... Blair wants the "pain of reforms", aka austerity measures. Won't fly. The Euro will be saved only under two conditions.JR8 wrote:JR8 wrote:... the euro is a political project and not an economic one.
Tony Blair, this weekend:
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'The problem of the eurozone was that it was "motivated by politics and delivered in economics"'.
http://www.telegraph.co.uk/finance/fina ... -euro.html
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p.s. Just a bit rich of Blair, given he was gagging to have the UK join the euro! That aside it is perhaps the most honest thing I've heard pass his lips.
BillyB wrote:It was a big shock on the street. Diamond transformed the IB division and turned barcap from a laughing stock to a well respected and slick 'almost tier 1' player (Acquiring LB helped) - he had the vision and personality to really change the status quo from a high street plodder, to a bank that now competes with MS, JPM etc.
It sounds like yet another huge operational risk issue where traders do what they want and there are no internal controls to keep an eye on things. Similar to the JPM fiasco last month. Ultimately, in these situations, the buck stops at the top of the tree.
I believe there'll be more banks exposed as part of the LIBOR collusion in the coming weeks.
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