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Banking

WireTap 1400 06/12/11

A round-up of the key stories across the specialist financial media, including how the Euro break-up is plausible and eurozone downgrades could push EU into a recession





Euro break-up is plausible and Eurozone downgrades could push EU into a recession

Experts warn that if S&P were to downgrade six of the AAA EU countries, including Germany and France, the eurozone might be pushed into a deeper recession as further austerity measures could be implemented, and a break-up of the euro currency is plausible.

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S&P crashes eurozone party

A rating agency warning over stresses in the eurozone overshadowed any optimism that Germany and France were close to brokering a deal to rescue the region and pushed the euro lower.

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Legal action urged in damning Olympus report

An independent panel has issued a report on the Olympus accounting scandal urging legal action against the executives responsible.

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Regulators warn on banks’ risk evaluation

The variations in the ways that banks measure risk could harm global efforts to make the financial system safer.

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Corzine Rebuffed Internal Warnings on Risks

MF Global’s executive in charge of risk raised concerns about Jon Corzine’s European bond bets several times.

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