Europe

  • 17 Jan 2014 at 12:28 PM

Role-Based Pay Watch ’14: Goldman Sachs

Goldman Europe sees your bonus caps and raises you this: Read more »

  • 22 Oct 2013 at 6:08 PM

Europeans Near Resolution To Semantic Debate

Six years and countless working lunches after the financial crisis began, European regulators have at last nearly come to grips with one of its root causes. Read more »

  • 13 Aug 2013 at 12:47 PM

Europeans Embrace Dark Pools While They Can

The menace spreads. Read more »

Bundesbank President Jens Weidmann does not mean to alarm you, but he thinks that Europe’s, um, difficulties could take a while to resolve. Read more »

  • 16 Apr 2013 at 4:48 PM

IMF: Europe Is Still Ruining Everything For Everybody

Perhaps it would like to do something about that? Read more »

Things in Cyprus: kinda bad. There are better places than here to read about it; I particularly recommend Joseph Cotterill here and here, pseudo-Paweł Morski here and here, Mohammed El-Erian here, the FT’s coverage here and here, the Journal’s round-up of analyst reaction here, etc.

The basic story is that Cyprus’s government and banks are both massively overindebted and need a bailout, and the EU and IMF will provide a €10bn bailout, but they demanded that Cyprus chip in some €7bn, which it has decided to do by means of a tax on deposits in Cypriot banks of 6.75% for up to €100,000 and 9.9% above €100,000. (Is that rate on bigger deposits marginal or absolute? No one knows!) Those numbers are being renegotiated and may end up not being approved by Cyprus’s parliament.

The various reasons to object to this boil down to its violations of absolute priority; the way things are supposed to work is more or less: Read more »

Deutsche Bank Sinks Right Past HSBC

Getting caught money-laundering for the Iranians and drug cartels is pretty bad for business, as HSBC’s 2012 results demonstrate. But coming into compliance with all these new banking regulations is even worse.

Disgraced though HSBC may be, what with the $4 billion-plus it paid in fines to regulators last year, and the 17% drop in profit that entails, the old Hongkong and Shanghai Banking Corp. managed to shrink less than its friends in Frankfurt in an unusual race backwards, thereby dethroning the Germans as Europe’s largest bank. Read more »