Daily Dispatches

EU adopts flexible stance on bank crises

Submitted by cpowell on Sun, 2007-09-16 16:54 Section: Daily Dispatches

By Tony Barber
Financial Times, London
Sunday, September 16, 2007

http://www.ft.com/cms/s/0/05b34256-648a-11dc-90ea-0000779fd2ac.html

PORTO, Portugal -- European Union finance ministers and central bankers decided at the weekend against establishing fixed rules in advance on how to bail out banks or other financial institutions that have cross-border operations in the EU.

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With a sling and a stone

Submitted by cpowell on Sun, 2007-09-16 13:41 Section: Daily Dispatches

1:20p ET Sunday, September 16, 2007

Dear Friend of GATA and Gold:

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Rise in Canadian dollar shows break with U.S. economy

Submitted by cpowell on Sun, 2007-09-16 12:44 Section: Daily Dispatches

By Haris Anwar
Bloomberg News Service
Monday, September 17, 2007

http://quote.bloomberg.com/apps/news?pid=20601087&sid=a6uPcUFdLnao

TORONTO -- Currency traders are concluding that there's nothing the U.S. economy can do that Canada's can't do better. Much better.

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James Turk: Banking system is 'a house of cards'

Submitted by cpowell on Sun, 2007-09-16 12:21 Section: Daily Dispatches

12:25p ET Sunday, September 16, 2007

Dear Friend of GATA and Gold:

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Angry savers forcing sale of Northern Rock

Submitted by cpowell on Sun, 2007-09-16 00:30 Section: Daily Dispatches

By Iain Dey and Patrick Hennessy
The Telegraph, London
Sunday, September 16, 2007

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=WRKLTFU5KMZUFQFIQ...

Northern Rock, the crisis-hit bank under siege from thousands of its customers, was preparing itself last night for a selloff, The Sunday Telegraph can reveal.

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Bankers fear L12 billion run on Northern Rock

Submitted by cpowell on Sun, 2007-09-16 00:23 Section: Daily Dispatches

David Smith, Grant Ringshaw, and Holly Watt
The Times, London
Sunday, September 16, 2007

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_...

Northern Rock, the mortgage bank rescued by the Bank of England last week, could see as much as L12 billion -- nearly half its deposits -- withdrawn by worried savers, experts say.

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European Union drawing cross-border bank-bailout plans

Submitted by cpowell on Sat, 2007-09-15 23:54 Section: Daily Dispatches

By Huw Jones
Reuters
Saturday, September 15, 2007

http://www.reuters.com/article/ousiv/idUSL1529380120070915

PORTO, Portugal -- European Union finance ministers and central bankers agreed on Saturday to step up co-operation among themselves to improve their handling of cross-border financial crises.