Germany’s powerful constitutional court will on Wednesday rule on whether the country was right to bail out Greece and other eurozone members last year, in a long-anticipated judgment that could result in greater parliamentary control over future re
Barclays, Royal Bank of Scotland and HSBC routinely breached their own mortgage-lending rules and bullied surveyors into wildly inflating valuations of American properties in the run up to the credit crunch, it has been claimed.
In the latest blow to the beleaguered industry, the Federal Housing Finance Agency is poised to file lawsuits seeking many billions of dollars in compensation, alleging the banks broke securities laws.
Italy’s plan to balance its budget by 2013 lacks detail, does not add up and changes from one day to the next, raising the risk that the country will be sucked back into the middle of the eurozone debt crisis.
Banks in Europe are exploring ways to cut costs by routing more of their trades and other business through overseas subsidiaries, a plan that may shift tax revenue away from London and loosen European regulators’ influence over the lenders.