Barclays Fires CEO In Latest Rate-Rigging Euro Bank Shakeup

It's shaping up to be a rough year for CEOs at Europe's most notorious rate rigging, scandal-laden investment banks. Just three months after Brady Dougan left Credit Suisse and barely 30 days since Anshu Jain and Jürgen Fitschen tendered their resignations at Deutsche Bank, Barclays has shown CEO Antony Jenkins the door.  The move comes as Chairman John McFarlane (who took over as Chairman in April) looks to restrucutre what he calls...

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Greece Caves, Formally Requests ESM Bailout: Full Headline And Next Steps Summary

As we reported yesterday, following the latest European leaders summit, Greece was given until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc and into economic ruin. "The stark reality is that we have only five days left ... Until now I have avoided talking about deadlines, but tonight I have to say loud and clear that the final deadline...

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Between Berlin and a Hard Place: Greece and the German Strategy to Dominate Europe

Germany and the Troika: (left to right) German Chancellor Angela Merkel, IMF Managing Director Christine Lagarde, European Commission President Jean-Claude Juncker, European Central Bank President Mario Draghi “They just wanted to take a bat to them,” said former U.S. Treasury Secretary Timothy Geithner, referring to the attitude of European leaders towards debt-laden Greece in February of 2010, three months before the country’s first bailout....

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