Home / Blog Index / The Finanser’s Week: 18th July – 24th July 2011

The Finanser’s Week: 18th July – 24th July 2011


Our biggest stories of the week are …

Is this the end of the euro?

For the past two years, we have performed a major survey around the euro and European payments. The survey for 2011 is now live: click here to take survey and click here to see the last two years of results.

I happen to be at an Oracle banking bash in Asia this week where Mark Hurd, President of Oracle Corporation, delivered the keynote. A few highlights from his presentation include a comment that worldwide GDP is running at around $53 trillion …
Asking the Asian audience here about their views on innovation proved interesting. For example, defining innovation as complete renewal and transformation, rather than incremental improvement, led me to the assertion that to be innovative you must have the mandate of…
After my note the other day about the thoughts of folks in transaction banking, followed by the results of the US banks, it struck me that like a double-dip recession we are now in a ping-pong interregnum …
In my usual quiet way, I was interviewed by Bloomberg last Thursday in anticipation of the European Banking Authority (EBA), previously the Committee of European Bank Supervisors (CEBS), about the forthcoming stress tests released on Friday. Last year, these tests…
The major general news stories of the week include … 

ICB submissions: what the banks said – The Telegraph
The Independent Commission on Banking received more than 170 submissions to its interim report, here are some of the highlights.

Audit woes found at UK arms of foreign banks – Financial Times
News of the Financial Reporting Council's probe comes amid continuing regulatory concern about the work of audit firms in the banking sector

Banking trio fail to meet accounting standards, claims Financial Reporting Council – The Telegraph
Three international banks have been accused of failing to meet accounting standards amid a scathing report into UK auditors by a City watchdog.

Reform will delay Lloyds and RBS sales, says UKFI – The Independent
The chairman of UK Financial Investments (UKFI) has warned that the Independent Commission on Banking's (ICB) reforms will reduce the value of the taxpayer's stakes in Lloyds and Royal Bank of Scotland (RBS) and delay their sale.

Ditching the Euro Not an Option for the Greeks – Business Week
As Athenians tally the cost of last month's riots, most Greeks acknowledge that the price of keeping the euro is more sacrifice for a country with a history of hardship

UK financial services will never regain pre-crisis power, says The Office for Budget Responsibility – The Telegraph
Britain's financial services industry will never regain the pre-eminence it enjoyed before the crisis, according to projections from the country's official forecaster

Europe's bank stress tests as bad as 1979 Irish driving test – The Telegraph
In 1979, the then Irish environment minister, Sylvester Barrett, did an extraordinary thing that was to have ramifications for Ireland's drivers for decades to come.

European Banking Authority was hobbled over stress tests – The Telegraph
The European Banking Authority has attempted to quell City complaints over Friday's widely-criticised industry stress tests, telling analysts they would have liked to have made them harsher but were unable to do so.

Greek debt on 'knife edge' – IMF – BBC
The IMF says Greece's debt is on a "knife's edge", as UK Deputy Prime Minister Nick Clegg says he is "incredibly worried" about the crisis.

Surprise bidder for Lloyds bank branches – The Independent
Insurance tycoon Clive Cowdery has emerged as a surprise bidder for the 632 bank branches being sold by Lloyds Banking Group, it was reported today.


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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, 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...

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