WireTap 0900 29/11/11

UK faces bigger financial black hole

The UK’s structural deficit has increased by almost £30 billion, meaning the imposition of further years of austerity.

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Moody’s signals possible cut for Europe banks

Moody’s says it is considering downgrades for banks in 15 Eurozone countries to reflect the loss of government support.

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European nations pressure own banks for loans

European nations struggling to find buyers for bonds are pressuring their own already-stressed banks to act as lenders of last resort.

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Corzine pushed Europe bet to $11.5 Billion as board balked

Corzine used short-term hedges to allow him to report half the actual net risk to shareholders.

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Japan unemployment rate exceeds all estimates

Japan’s unemployment rate has surged beyond all predictions, adding pressure on the central bank to expand stimulus.

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Germany told to act to save Europe

Polish foreign minister Radek Sikorski calls for drastic action to prevent the collapse of the Euro.

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