The European Commission said in a statement that some traders at the banks exchanged commercially sensitive information and coordinated trading strategies on the euro-denominated bonds, mainly through online chatrooms.
Archiv: banks
Merkel Calls for Swift Return to ‘Normal’ Monetary Policy
In the past Merkel has refrained from wading into monetary policy by defending the independence of the European Central Bank. President Donald Trump has been more pointed, arguing the Federal Reserve has been too aggressive in raising rates. In the U.K., the Bank of England has come under attack from pro-Brexit supporters over its grim economic forecasts about the costs of leaving the European Union.
Bernie Sanders: Concentrated Wealth is Concentrated Power
Sen. Sanders joins Paul Jay who asks if breaking up the big banks is enough to weaken the power of Wall St.
George W Bush – The Elite My Base
Published on Jun 15, 2006
Bernie Sanders: America is ‚owned and controlled by a small number of multi-billionaires‘
„We live in a nation owned and controlled by a small number of multi-billionaires whose greed, incredible greed, insatiable greed, is having an unbelievably negative impact on the fabric of our entire country,“ Sanders told Paul Jay, CEO and senior editor of The Real News Network, in an interview posted Thursday.
Jeremy Corbyn in 2010: „They-the world’s bankers, the IMF, the European Union – are utterly united in what they want: deflation, suppressing the economy & creating unemployment“
How’s that anti-Brexit saviour moment going then @davidschneider ?
Netanyahu Thanks Trump as US Sanctions on Iran Set to ‘Snap Back’ in Full at Midnight Sunday
(today)
The Trump administration announced Friday that its powerful sanctions would snap back against Iran, effective Sunday, on banking, oil, shipping and other economic sectors where the penalties were lifted by the Obama administration in 2015 as part of the JCPOA nuclear deal.
US threatens to smack SWIFT with sanctions if it fails to cut off financial services to Iran
US Treasury Secretary Steven Mnuchin has warned global financial messaging service SWIFT on Friday that it could be penalized if it doesn’t cut off financial services to entities and individuals doing business with Iran.
Iranian Foreign Minister Discusses New US Sanctions With EU Officials – Tehran
„During his Friday night conversations with Mogherini as well as Heiko Maas of Germany, Margot Wallstrom of Sweden, and Denmark’s Anders Samuelsen, the top Iranian diplomat discussed with them Washington’s re-imposition of sanctions against Iran and Europe’s efforts to counter such US moves,“ the statement read.
EU’s purposeful delay in implementing SPV
Reuters has recently reported that a new EU mechanism to facilitate payments for Iranian exports should be legally in place by Nov. 4, when the next phase of US sanctions take effect, but it will not be operational until early next year.
China Unexpectedly Gambles on European Mechanism to Sustain Iran Trade
„It seems that the fate of our trade with China is linked to the support package being prepared by the European Union,“ Hariri told Bourse & Bazaar in reference to the SPV promised by Iran’s key European trading partners.
No EU Member Ready to Host Mechanism to Defy US Anti-Iranian Sanctions – Report
(29.10.2018) No EU member state is willing to host the so-called Special Purpose Vehicle (SPV) to safeguard Brussels‘ trade ties with Tehran from Washington’s anti-Iranian sanctions, according to The Financial Times.
„No EU government wants to cross the US by having the SPV. Member states are not exactly queueing up for it,“ the newspaper quoted EU diplomats as saying on condition of anonymity.
Joint Statement by the UK, France and Germany on the Iran Nuclear Deal
It is our aim to protect European economic operators engaged in legitimate business with Iran, in accordance with EU law and with UN Security Council resolution 2231.
As parties to the JCPoA, we have committed to work on, inter alia, the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran’s export of oil and gas. On these, as on other topics, our work continues, including with Russia and China as participants to the JCPoA and with third countries interested in supporting the JCPoA. These efforts have been intensified in recent weeks, particularly those underpinning the European initiative to establish a Special Purpose Vehicle which we are proceeding with work to set up. This will enable continued sanctions lifting to reach Iran and allow for European exporters and importers to pursue legitimate trade.
The Latest: EU expresses deep regret over US-Iran sanctions
In a joint statement Friday, they said they aim to protect European firms „engaged in legitimate business with Iran.“
They added that their „collective resolve to complete this work is unwavering.“
President Donald J. Trump Is Reimposing All Sanctions Lifted Under the Unacceptable Iran Deal
Sanctions will target critical sectors of Iran’s economy, such as its energy, shipping, shipbuilding, and financial sectors.
Over 700 individuals, entities, vessels, and aircraft are going back onto our sanctions list, including major Iranian banks, oil exporters, and shipping companies.
The sanctions also target transactions with the Central Bank of Iran and designated Iranian financial institutions.
Sales of food, agricultural commodities, medicine, and medical devices to Iran have long been—and remain—exempt from our sanctions.
Reimposing sanctions will cut off revenues the regime uses to bankroll terrorist groups, foment global instability, fund nuclear and ballistic missile programs, and enrich its leaders.
US reimposes all Iran sanctions, allows eight countries to continue importing oil
The US Treasury will also demand SWIFT stop servicing Iran’s banking industry as part of enforcing sanctions over the country’s nuclear program and alleged support for terrorism.
The sanctions will take effect Monday and cover Iran’s shipping, financial and energy sectors.
Trump administration to reinstate all Iran sanctions
President Donald Trump withdrew from the agreement in May, describing it as „defective at its core“ because it had not stopped Iran developing a ballistic missile programme and intervening in neighbouring countries.
„Sanctions are coming,“ he tweeted after Friday’s announcement, referencing the TV series Game of Thrones and its motto „Winter is coming“.
Chinese Banks Embrace Facial Recognition To Fight Fraud
The technology developed at Ping An can pinpoint 54 brief, involuntary micro-expressions that a face often creates before the brain can control the movements of the face. They include eyeballs that move back and forth and rapid blinking. “We use micro expression recognition technology to review loan applications.
In Ireland, a Picture of the High Cost of Austerity
(28.6.2010) Rather than being rewarded for its actions, though, Ireland is being penalized. Its downturn has certainly been sharper than if the government had spent more to keep people working. Lacking stimulus money, the Irish economy shrank 7.1 percent last year and remains in recession.
Joblessness in this country of 4.5 million is above 13 percent, and the ranks of the long-term unemployed — those out of work for a year or more — have more than doubled, to 5.3 percent.
Now, the Irish are being warned of more pain to come.
EU ‘needs another crisis’ to finish banking union
(16.5.2018) “I have the impression that [EU member states] have the false impression that everything’s fine, but everything’s not fine and the job is half done,” Olivier Guersent, director general for financial stability, financial services and capital markets union, said at the annual conference of the Single Resolution Board (SRB) in Brussels.
Politicians need “a big enough crisis for them to be scared enough, but not big enough to kill us”, to finish the banking union project, he added.
EU Bank Rescue Board Says Fund Will Hold €33B In 2019
Europe’s fund for helping failing banks is expected to swell to almost €33 billion ($38 billion) in 2019, up from nearly €25 billion earlier this year,
Italian economy minister hails ‚historic‘ banking deal
As well, the board’s decisions must be approved by EU finance ministers, leading some critics to say the process will be very complex. In a second step, governments will contribute to a resolution fund by imposing levies on banks over 10 years for a total of about 55 billion euros.
CNNMoney.com’s bailout tracker
Troubled ASSET RELIEF PROGRAM
Financial rescue plan aimed at restoring liquidity to the financial markets
Committed : $11 trillion (total)
Invested: $3 trillion (total)
Italy agrees to €17bn bailout of two more banks in biggest ever rescue plan
(26.6.2017) Depositors were at risk so the state had to stop in to to save Banca Popolare di Vicenza and Veneto Banca, Prime Minister Paolo Gentiloni said
New Spanish PM seeks government without hard-left Podemos
Podemos, which helped Sanchez to oust Rajoy, said it wants to be in the government. The anti-austerity party wants generous welfare policies and tougher regulations and taxes on banks.
Nomination for Bank of Italy Governor Thrown Into Disarray
(18.10.2017) The move to oust Visco comes at a sensitive time for Italy and the euro area. The ECB, where he sits on the Governing Council, is due to meet next week to try and agree on how and when it can wind down its bond-buying program.
Contribute now to Tim Canova for Congress
Our politics and economy are increasingly rigged in favor of Wall Street banks and giant corporations. All too often, elected officials represent these narrow special interests rather than the rest of us. We must challenge this business as usual and demand accountability. Let’s take back our country and restore our democracy.
Revealed: how the FBI coordinated the crackdown on Occupy
(29.12.2012) New documents prove what was once dismissed as paranoid fantasy: totally integrated corporate-state repression of dissent