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Banking

WireTap 0900 13/02/12

A round-up of the key stories across the specialist financial media, including news that the European stock market opened higher today while Greek lawmakers approved a tough austerity package on Sunday, however, the vote has been overshadowed by violent street protests in central Athens.


Greece passes vote as violence erupts

Greek lawmakers on Sunday approved a tough austerity package aimed at averting a default, but the vote was overshadowed by violent street protests in central Athens and dozens of arson attacks against shops and banks.

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Greece news lifts Europe stocks; C&W Worldwide up 

European stock market opened higher on Monday after Greece's parliament approved austerity measures in the face of major protests.

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China tells banks to roll over loans

China has instructed its banks to embark on a mammoth roll-over of loans to local governments, delaying the country’s reckoning with debts that have clouded its economic prospects.

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Toronto bubble risk topping New York in condo market: mortgages 

Toronto has more skyscrapers and high-rises under construction than any North American city - almost three times as many as New York - stoking debate on whether the condominium market in Canada’s largest city is headed for a US-style correction as prices rise and household borrowing hits a record.

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Volcker to push back on banks' trading

The former Federal Reserve chairman is expected to file a comment letter on the Volcker rule before a Monday deadline, contending that the US financial system will be safer and healthier with a ban on proprietary trading by banks, according to people familiar with the situation.

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Bulls will not be tamed by weak profits

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control this week.

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