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Mass of Media: Banking crisis in Europe

UPDATE 1-ECB’s Nowotny: no systemic banking crisis in Europe
Reuters
VIENNA, Sept 30 (Reuters) – Europe’s banking sector is not in a systemic crisis and does not need a bailout similar to the one planned in the United States, …

Ballmer on banking crisis: No one is safe
Register, UK
He said: “I have to believe that some of the issues also face the European banks and I trust that the European Central Bank will be as intelligent as it …

Banking Crisis Forces EU States to Play Bigger Role in Finance
Deutsche Welle, Germany
“So, for now, financial supervision in Europe remains very fragmented on a country level,” analysts at banking group Citi said. “In turn, this may make the …

Euro Falls Most Against Dollar Amid European Banking Failures
Bloomberg
The highest reached in 1998, during the Asian banking crisis was minus 38.5 basis points in October 1998, according to Bloomberg data. …

Markets in crisis as Europe stares into banking abyss
Sydney Morning Herald, Australia
Mr Redeker said the latest twist was a move by banks to deposit €28 billion in funds at the European Central Bank in a panic flight to safety. …

Dow posts record point drop as US lower house rejects bailout
Hürriyet, Turkey
That further unnerved investors who on Monday saw the credit crisis claim several new victims, including Wachovia Corp and a bevy of European banks. …

World urges US to get a grip on banking crisis
AFP
With commercial banks reluctant to risk loaning money to each other, the European Central Bank attempted to release liquidity into the credit market by …

Global shares hit as banking crisis bites in Europe
Reuters
By Veronica Brown LONDON (Reuters) – European shares fell heavily on Monday as fallout from the credit crisis hit the region’s banking sector, …

Banking Crisis Leaves Europeans with Bill in the Billions
Spiegel Online, Germany
With trust between banks waning, analysts believe Europe is threatened with a serious credit crunch. The logos of Europe’s crisis banks: The crisis is …

Rand falls on Europe crisis fears
Dispatch Online, South Africa
… major currencies in late trade yesterday amid rising risk aversion in the wake of suggestions that the US banking crisis was spreading to Europe. …

Blogosphere:

What Would Europe do in a Banking Crisis?
Tom Groenfeldt
The US crisis has made at least some folks across the Altantic ask “What would Europe do?” If a BNP, HSBC, or UBS ran into life-threatening liquidity problems, could Europe generate a coordinated response? The European-based banks were …

World shares hit by Europe banking crisis
Veronica Brown
B&B, Fortis bailouts shove European shares, euro lower.

GLOBAL MARKETS-Shares hit as banking crisis bites in Europe
MSCI world equity index down 1.9 percent at 305.48 * B&B, Fortis bailouts shove European shares, euro lower * TARP overshadowed as investors fret on banking contagion By Veronica Brown LONDON, Sept 29 (Reuters) – European shares fell …

Markets in crisis as Europe stares into banking abyss
THE global credit crisis has triggered the rescue of five leading European banks and a near-shutdown of the region’s credit markets.

Paris Bourse slides as banking crisis reaches Europe
(IANS)As evidence grew that the US finance crisis has reached Europe, French shares fell sharply in early trading Monday, with banking shares leading the decline.After …

As contagion spreads, moods abruptly shift
Natalie
In Europe, the banking crisis “can hardly spread further — it is everywhere,” said Willem Buiter, a professor at the London School of Economics and former member of the Bank of England’s monetary policy committee. …

New Overnight Developments Abroad: Banking Crisis Slams Europe
larrygreenberg
The British government nationalized the mortgage lender, Bradford and Bingley. Germany’s Hypo Real Estate in a rescue, too. The third largest Icelandic bank was nationalized. Money market strains in Europe intensified despite news that …

Europe faces its own banking crisis
Fortis drops more than 20 percent, Royal Bank of Scotland is down 14 percent, and UK mortgage giant Bradford & Bingley is being nationaized

Fear of financial icebergs grows
Internation Musing
But will this convince savers that their money is safe in the bank? For the financial and political fire-fighters on two continents, the European banking crisis only represents one-third of their concerns. …

Lessons from Europe as the US convulses amid credit crisis
A Bank of Finland official offers parallels and solutions from Sweden, Norway and Finland, which suffered three of the worst banking crises in the post-World War II economyVideo: AM Forex NY – EUR, GBP slide, as banking crisis spreads

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