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Deposit insurance after Iceland and Cyprus
Depositors in Eurozone banks are facing a steep learning curve on just exactly what deposit insurance means. This column points out that the precedents set in Cyprus and Iceland show that deposit insurance is only a legal commitment for…
Italy is now the largest borrower from the Eurosystem
By Sober Look
As European banks find some private sources of capital to fund themselves, they continue to repay their ECB loans - particularly in the 3y LTRO program.
FoxBusiness: - Next week, nine banks will repay just over 4 billion euros…
The terrible March US jobs data
I am still on vacation here through Monday but the jobs number in the US was so ugly I had to comment briefly. The unemployment rate came in at 7.6% and 88,000 jobs were added to non-farm payrolls. The consensus estimates were for 7.7%…
Poor North American Jobs Report Sends USD and CAD Lower
By Marc Chandler The shockingly disappointing non-farm payrolls growth of 88k has sent the dollar reeling. The 61k upward revisions to the Jan and March figures and the smaller than expected trade deficit were not sufficient offsets.…