ECB’s Constancio urges IMF funding hike: reports (MarketWatch) EU wants G20 to boost IMF funds after Eurogroup move (Reuters) EU Ministers Urge Steps Toward IMF Support (The Wall Street Journal)
Bundesbank rejects Greek bonds: German central bank refuses debt from countries in bailout programs as collateral for liquidity (Ekathimerini)
Spain budget deficit goals remain a serious challenge (Reuters)
Sir Mervyn - come clean on the bank crisis: To learn from any crisis, financial or otherwise, two essential things must happen. There must be a full and frank admission of what went wrong and there must be a fundamental change in the ways of behaving to ensure - as far as is possible in an imperfect world - that such a calamity never happens again. (The Telegraph)
Unofficial [US] Problem Bank list declines to 948 Institutions (Calculated Risk blog)
The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats that exist today could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. This blog further attempts to show that the financial crisis of 2008 was largely a result of the devastating consequences of excessive risk taking and the absence of effective regulation of such behavior. Furthermore, this blog maintains that not only have the lessons that should have been learned from this experience not been learned, but that the risks to the economy, including the persistent building up of "too big to fail" institutions, have actually increased since the crisis began. Finally this blog also brings to light, from time to time, reports of a parallel threat to economic well-being developing in the energy industry, which suggest that an energy shock may be coming much closer in time than is generally imagined.