July 2 (Bloomberg) -- With global financial power dispersing to emerging economies, so too are centers of regional finance. But, creating and competing to become an international finance center is not without challenges. What is the combination of factors that creates vibrant IFCs? And which cities have the most potential? That's the discussion hosted by Bloomberg's Ryan Chilcote at the St Petersburg International Economic Forum in Russia. He is joined by Dennis Nally, chairman of Pwc international, Spencer Lake, co-head of global markets at HSBC, Makram Azar, vice-chairman of investment banking at Barclays, Oleg Viyugin, chairman of Mdm Bank and Ruben Aganbegyan, chief executive officer of Micex-Rts Ojsc. The event took place on June 22. (Source: Bloomberg)
Spain’s Economy Minister Luis de Guindos said his country doesn’t need a bailout and that budget cuts that have already been planned will be sufficient to meet a deficit goal set by the European Union for 2013.