Things we're reading today include ...
Today's must read:
Mervyn King's plan for bank capital 'will backfire' - The Telegraph
Senior bankers and top institutional investors are warning that Bank of
England Governor Mervyn King is so out of touch with markets that the
reforms he is championing will backfire and heighten financial instability.
Companies
PayPal suspends some business in India - Financial Times
Leading UBS bosses wave goodbye to SwFr300m - The Times
Goldman Sachs will not commit to future bonus cuts - The Times
UK
Bank’s line on QE is looking peculiar - The Times
Bank hint on quantitative easing drives down pound - The Times
Euro
EU leaders on verge of deal to rescue Greece and save euro - The Times
Euro rises to three-week high as bailout for Greece looms - The Independent
Greek tragedy offers Berlin a chance to usher in true European reform - The Times
USA
Bernanke outlines plans to pull stimulus - The Times
Bernanke outlines new Fed targets in exit plan - The Independent
Barack Obama 'doesn't begrudge' bankers their million-dollar bonuses - The Telegraph
Quote of the Day:
"Technology is stuff that doesn't work yet."
Digital guru Bran Ferren - the Observer
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...