Source: CNA – Stress tests no guarantee of banks’ survival
Notable excerpts:
Just because a European bank passes the upcoming stress tests by European regulators does not mean it has the necessary mettle to continue to survive, the German banking federation said on Monday.
Source: RT – Fed up with euro, France flirts with coupon money
Notable excerpts:
Whether buying bread, filling a pharmacy prescription, getting a haircut or going to the doctor, some residents of Montreuil, France, are rejecting the euro in favor of ‘La Peche’, a local community currency.
Source: CNA – US urges Germany to spur consumption amid booming trade surplus
Notable excerpts:
US Treasury Secretary Jacob Lew called Wednesday on export powerhouse Germany to spur consumption and investment at home to help revive European growth as Berlin reported a rise in its trade surplus.
Source: The Telegraph – Swiss central bank slumps to £6bn loss
Notable excerpts:
Switzerland may be famed for its banking skills but the country’s central bank has found itself in the embarrassing position of having to post an annual loss.
Source: Daily Mail – French court gives go ahead for Hollande’s 75% tax
Notable excerpts:
France’s highest court today gave Francois Hollande the green light to introduce a top tax rate of 75 per cent.
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