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BANKING

WireTap 1400 30/11/11

A round-up of the key stories across the specialist financial media, including how the EU monetary chief sees that 10 days will be needed to rescue the eurozone


EU monetary chief sees 10 days to rescue euro zone 

Europe faces a crucial 10 days to save the euro zone after agreeing to ramp up the firepower of its bailout fund but acknowledging it may have to turn to the International Monetary Fund for more help to avert financial disaster.

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European bank distress may offer insurers assets 

Insurers and reinsurers may join hedge funds and private equity firms in bidding for assets as distressed European lenders raise capital to withstand the region’s debt crisis

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German one-year yields turn negative 

German one-year bond yields have turned negative for the first time on record, as investors sought the short-term debts of Europe’s arguably safest haven amid increasing fears that the world’s largest currency bloc could unravel

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Turkey bonds falling most in emerging markets 

Turkish bond yields are rising faster than the rest of emerging-market debt and still can’t entice the world’s biggest investors, who say policy makers won’t curb inflation unless they take steps to slow growth.

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China cuts bank reserve requirements by 50bp

For the first time in three years, China has eased monetary policy by cutting the amount of deposits that banks must hold in reserve, in a sign of Beijing’s unease over slowing growth in the country.

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Arrests in Olympus scandal could take weeks 

Japanese authorities may take weeks to make any arrests over the accounting scandal at Olympus Corp, though initial findings by an investigative panel of experts are due to be released in days, lawyers said.

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