Home / Blog Index / The Finanser’s Week: 22nd November – 28th November 2010

The Finanser’s Week: 22nd November – 28th November 2010

 

Our biggest stories of the week are …

Barclays: Banks Behaving Badly

Antony Jenkins, the Head of Barclays Global Retail Division ,appeared on BBC Radio’s Today program saying that the level of consumer complaints to banks in general, and to Barclays specifically, is “not acceptable”.  Looking at the numbers of complaints upheld by the Financial Ombudsman against Barclays, he’s right.

VISA’s pride before a fall over the Chinese wall

I was at a fascinating meeting yesterday discussing China Unionpay (CUP), China’s card processing operator that was created and owned by the government in 2002. With 2.1 billion cards issued and over $1 trillion in transactions each year, what has VISA done to warrant the government banning them from China for a year?

What happens if a country leaves the Eurozone?

One minute we’re all talking about the great European plan, the next is OMG, it’s all doom and gloom. What about Greece? Ireland? Portugal? Spain? So what would happen if a country left the Eurozone?

Do bankers really want to be plumbers?

I was preparing a presentation last week to deliver in Spain that had the sexy title: “Challenges for European banks in a crisis and post-crisis environment.” It wasn’t a title I chose, but led to me creating an amalgam of many different threads of thinking, some of which you will recognise if you follow this blog. First, I thought about all the things that we refer to today as phrases which mean something, and yet weren’t even around three or four years ago such as …

An Irishman, a Politician and an Economist walk into a bar

I don’t want to comment too much on the Irish problems, so collected a variety of the best news from around the world to share here. First, some background on the issue: Q: Why is the Irish economy in such a mess …

 

The major general news stories of the week include …

Ireland’s banks prepare for full nationalisation as crisis grows – The Independent

Ireland was last night poised to nationalise its two biggest banks as the country continues to be battered by the financial crisis.

Paddy Power now a bigger company than Bank of Ireland – The Telegraph

Paddy Power, the Irish bookmaker, has overtaken Bank of Ireland as the crisis-hit country’s eighth largest company.

‘Ireland was just one big pyramid scheme’ – The Telegraph

After Ireland’s government revealed a €15bn (£12.7bn) package of cuts, the mood in Dublin was one of futility and anger.

Why is the UK helping out Ireland? – BBC

With its own budget deficit and a programme of tough public spending cuts, there are questions about why the UK has offered some €27bn to Ireland.

Plucky Irish felled by the twisted, self-serving logic of the eurozone – The Telegraph

Desperate fight to save the euro – The Independent

The euro plunged further into crisis yesterday as investors sold off Spanish, Portuguese and Belgian government bonds in record numbers on renewed fears that those nations would follow Greece and Ireland into the financial emergency ward, undermining confidence in the single currency.

Merkel: Euro in ‘Exceptionally Serious’ Place – Business Week

German Chancellor Angela Merkel said the euro is in an “exceptionally serious” situation as Ireland seeks to become the second European country to need a rescue after Greece.

Plastic fantastic – BBC

The loyalty reward programme for Facebook fans

Mobile wallet revolution – BBC

Can Kenya teach the world a thing or two about mobile technology?

Goldman Sachs new managing directors: list in full – The Telegraph

We list the names of Goldman Sachs’s 321 employees newly promoted to managing director.

 

 

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About Chris M Skinner

Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.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…

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