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.
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)
Greece’s plans to sack 15,000 state employees and put another 25,000 on notice for possible dismissal won’t spark another bout of unrest in the country because most Greeks support an overhaul of public administration, said the minister charged with carrying out the plans.
The International Swaps & Derivatives Association, a financial industry derivatives group, is being probed as part of a European Union antitrust investigation into how data on credit derivatives is shared.