FINANCIAL STABILITY BOARD

July 23, 2010 at 10:52 pm | Posted in Economics, Financial, Globalization, History, Research, World-system | Leave a comment

spin-globe.gif

books-globe.gif

globe-purple.gif

history.gif

world.gif

compass.gif

loudspeaker.gif

globeinmoney.jpg

Financial Stability Board (FSB)

FSB Chairman welcomes European bank stress

tests

Press, Service (press@bis.org)

Publications, Service (Publications@bis.org)

Fri 7/23/10

The FSB is chaired by Mario Draghi, Governor of the Bank of Italy. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.

Financial Stability Board Chairman Mario Draghi made the following statement today:

“The FSB welcomes the release today of the second EU-wide stress test results. The results provide additional clarity and transparency on the strength of the European banking sector and the 91 major banks that have participated in the exercise.

As the FSB has highlighted in the past, regulatory stress tests are a central part of the process of improving transparency about risk exposures, supporting market functioning and facilitating the repair of bank balance sheets.

By adopting a clear and thorough methodology based on severe scenarios, providing detailed bankby-bank results and announcing, where necessary, remedial actions to strengthen the capital position of individual banks, the EU stress test exercise is an important contribution to bolstering confidence in the European banking system and strengthening the resilience and robustness of the global financial system. The FSB will continue to play its part in strengthening the system by pressing ahead with the key wider regulatory reform agenda.”

Notes to editors

The results and methodology of the EU-wide stress tests, including links to the websites of national authorities that participated in the stress test exercise, can be found on the website of the Committee of European Banking Supervisors at http://www.c-ebs.org.

The FSB has been established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies. It brings together national authorities responsible for financial stability in significant international financial centres, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts.

The FSB is chaired by Mario Draghi, Governor of the Bank of Italy. Its Secretariat is located in Basel, Switzerland, and hosted by the Bank for International Settlements.

For further information on the FSB, visit the FSB website, www.financialstabilityboard.org.

FSB E-Mail Alert

fsb@bis.org

Fri 7/23/10

FSB e-mail alert on 23.07.2010 18:20 (GMT)

7 new document(s) found since 26.06.2010.

1. FSB Chairman welcomes European bank stress tests (23.07.2010 13:52) – PDF, 20480 bytes

Press Release

http://www.financialstabilityboard.org/press/pr_100723.pdf

2. Press Release: FSB invites feedback on risk disclosure practices (21.07.2010 09:21) – PDF, 86016 bytes

FSB invites feedback on risk disclosure practices

http://www.financialstabilityboard.org/press/pr_100721.pdf

3. IADI-IMF Update on Unwinding Temporary Deposit Insurance Arrangements (13.07.2010 08:09) – PDF, 405504 bytes

Deposit Insurance

http://www.financialstabilityboard.org/publications/r_1006.pdf

4. FSB releases reports to the G20 (27.06.2010 14:51) – PDF, 76800 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/press/pr_100627.pdf

5. FSB Overview report on progress for G20 Leaders June 2010 (27.06.2010 14:44) – PDF, 80896 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627c.pdf

6. SIFI – Interim report to G20 Leaders 18 June 2010 (27.06.2010 14:44) – PDF, 40960 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627b.pdf

7. FSB Chair letter to G20 Leaders 24 Jun 2010.pdf (27.06.2010 14:44) – PDF, 134144 bytes

G20 Summit Toronto Jun2010

http://www.financialstabilityboard.org/publications/r_100627a.pdf
FSB e-mail alert

FSB E-Mail Alert

fsb@bis.org

Fri 7/23/10

banknotes.jpg

“LOSING CONTROL”: STEPHEN D. KING BOOK FROM 2010

July 23, 2010 at 10:23 pm | Posted in Books, China, Development, Economics, Financial, Globalization, History, Research, World-system | Leave a comment

spin-globe.gif

books-globe.gif

globe-purple.gif

history.gif

world.gif

compass.gif

loudspeaker.gif

globeinmoney.jpg

losingbook.jpg

Losing Control:

The Emerging Threats to Western Prosperity

Stephen D. King (Author)

Editorial Reviews

Review

‘I’ve not come across another book which so forcefully gives the European or American reader a China-centred view rather than a Western-centric one…A disorientating and thought-provoking perspective.’ — Diane C, The Enlightened Economist

”In this intellectually stimulating and excellently written book, Stephen King explores the implications of the end of western hegemony for the ability of the erstwhile rulers of the world to sustain their standards of living. The rising competition from new players and the growing scarcity of resources will, he argues, squeeze the West hard. It will have to adapt. It will not find it easy to do so.”

Martin Wolf, Chief Economics Commentator, Financial Times

“Mr. King lays out his arguments in accessible and engaging prose. He is a lively writer with a deft eye for catchy historical analogies.”

The Economist

Product Description

As the economic giants of Asia and elsewhere have awakened, Western leaders have increasingly struggled to maintain economic stability. The international financial crisis that began in 2007 is but one result of the emerging nations’ increased gravitational pull. In this vividly written and compellingly argued book, Stephen D. King, the global chief economist at HSBC, one of the largest banking groups in the world, suggests that the decades ahead will see a major redistribution of wealth and power across the globe that will force consumers in the United States and Europe to stop living beyond their means.

The tide of money washing in from emerging nations has already fuelled the recent property bubble in the West, while new patterns of trade have left the West increasingly dependent on risky financial services. Unless things change drastically, King argues, the increasing power of emerging markets, when coupled with poor internal regulation and an increasingly anachronistic system of global governance, will result in greater instability and income inequality, accompanied by the risk of a major dollar decline. And as Western populations age and emerging economies develop further, the social and political consequences may be alarming to citizens who have grown accustomed to living in prosperity.

Product Details:

· Hardcover: 304 pages

· Publisher: Yale University Press

· June 15 2010

· Language: English

· ISBN-10: 0300154321

· ISBN-13: 978-0300154320

Losing Control: The Emerging Threats to Western Prosperity

Stephen D. King (Author)

banknotes.jpg

GERMANY BUSINESS CLIMATE: IFO SURVEY

July 23, 2010 at 8:26 am | Posted in Economics, Eurozone, Financial, Germany, Research | Leave a comment

spin-globe.gif

books-globe.gif

globe-purple.gif

history.gif

world.gif

compass.gif

loudspeaker.gif

globeinmoney.jpg

Ifo Business Survey July 2010

Ifo Business Climate Index Rises Sharply

Fri 7/23/10

Ifo Business Climate Germany

Results of the Ifo Business Survey for July 2010

Ifo Business Climate Index Rises Sharply

The Ifo Business Climate for industry and trade in Germany has risen sharply in July. This increase is the largest since German reunification. The firms have reported a considerably better business situation than in the previous month. Their business expectations for the coming half year are also more optimistic than in June. The German economy is in a party mood.

Press contact:
Annette Marquardt
Ifo Institute for Economic Research
at the University of Munich
Press and Public Relations
Poschingerstrasse 5
81679 Munich
Telefon ++49 (0) 89 92 24-1604
Telefax ++49 (0) 89 92 24-1267
mailto:marquardt@ifo.de
www.cesifo-group.de

http://www.cesifo-group.de/link/_stw/stw-mh-mindestlohn.htm

ifo Institut fuer Wirtschaftsforschung e.V. an der Universitaet Muenchen,
Poschingerstr. 5, 81679 Muenchen Germany

Ifo Business Survey July 2010

Ifo Business Climate Index Rises Sharply

Ifo Institute for Economic Research
at the University of Munich
Press and Public Relations
Poschingerstrasse 5
81679 Munich Germany

Telefon ++49 (0) 89 92 24-1604
Telefax ++49 (0) 89 92 24-1267

marquardt@ifo.de
www.cesifo-group.de

Fri 7/23/10

banknotes.jpg


Entries and comments feeds.