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Banking

WireTap 0900 13/01/12

A round-up of the key stories across the specialist financial media, including news that ECB governor Mario Draghi is confident his strategy to tackle the European debt crisis is working


Draghi: weaponry working in debt crisis

The ECB’s governor is confident his strategy for combating Europe’s debt crisis is working.

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Obama seeks $1.2 trillion debt limit rise

Barack Obama informed Congress on Thursday he plans to increase the US debt limit by $1.2 trillion, triggering criticism from Republicans.

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Sino-Forest avoids default after debt waiver

The Chinese forestry company has postponed a default on its $1.8 billion of bonds after a core group of bondholders agreed to temporarily waive its right to force the company into bankruptcy.

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Greek euro exit weighed by German lawmakers seen as manageable

Lawmakers from German chancellor Angela Merkel’s party are increasing pressure on Greece, saying a Greek exit from the euro would be manageable.

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Dip in China's FX reserves might hasten policy shift

China’s official reserves dropped to $3.18 trillion in the final quarter of 2011, suggesting that the days of heavy export-led accumulation of foreign currency may be over.

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