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Banking

WireTap 1400 10/02/12

A round-up of the key stories across the specialist financial media, including how Greek workers have denounced a new wave of austerity on Friday as a demand too far by the IMF and EU


Greeks strike against IMF/EU austerity before crucial vote 

Striking Greek workers denounced a new wave of austerity on Friday as a demand too far by the IMF and EU, but Finance Minister Evangelos Venizelos told the nation it had to decide within days whether to take the pain and stay in the euro or not.

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Germany says Greece missing debt targets in fresh aid rebuff

Greece is missing its debt-cutting targets, German Finance Minister Wolfgang Schaeuble told lawmakers today, intensifying pressure on Greek politicians to deliver on austerity promises.

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Aussie’s days as China proxy may be numbered, warns HSBC

While many in the market are busy revising their forecast for the AUD higher, HSBC is warning that the currency is vulnerable to the rising importance of CNH, the offshore renminbi.

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China economy shows strain as policy shift eyed

China betrayed signs of spluttering domestic demand on Friday as imports crumbling to their lowest in more than two years and weaker-than-forecast bank lending signaled to investors that policymakers would soon make a fresh bid to bolster growth.

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Foreclosures to climb before bank deal helps US housing market 

The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.

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