France
France confirms Cœuré as ECB nominee
Finance ministry puts Benoît Cœuré forward as nominee to replace Bini Smaghi on European Central Bank’s executive board; firm favourite choice confirmed
Banque de France outsources collateral management
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
Eurozone leaders hold emergency meeting in Cannes
Greek prime minister George Papandreou is summoned to Cannes for crisis talks ahead of G-20 meetings after receiving the backing of his cabinet to hold a referendum on the eurozone bailout
G-20 endorses final G-Sifi rules
Finance ministers and central bankers offer support to G-Sifi rules; want to see framework expanded to all banks deemed too big to fail regardless of global reach
Dexia bailout spells trouble for Belgium and France, say analysts
Nationalisation of banking group Dexia threatens downgrades to sovereign credit rating of Belgian and French governments
EBA stress test: €3.4 billion error in BPCE's derivatives exposure to France
Owner of Natixis overstated derivatives exposure to France by €3.4 billion after mixing up notional and mark-to-market numbers
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
Greece tranche decision delayed till October: Juncker
Eurogroup chairman Jean-Claude Juncker says decision to release sixth bailout tranche to Greece will be delayed until October; sovereign may default sooner than expected, says analyst
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
Lagarde adds to pressure on G-7 meet
Lagarde calls for global action; Canada set to raise dissatisfaction with Swiss franc exchange rate limit at G-7 gathering in France
Germany denies eurobond option
Talk of a common bond for the euro area dominates discussions ahead of meeting with European leaders on economic governance reform; Germany says topic will not feature on agenda
Unconventional debt markets create monetary policy asymmetries: Banque de France paper
Banque de France study says differences in bond market characteristics can lead to asymmetries in monetary policy
Lagarde ‘perfectly calm’ about impending investigation
New managing director of the IMF is 'perfectly calm' at announcement of French investigation of abuse of powers during her time as finance minister
Euro area leaders thrash out Greece deal
Leaked document shows euro area leaders agree to extend maturities on Greece loans through European Financial Stability Facility; compares second bailout for Greece to Marshall plan
Lagarde calls for greater legitimacy at Fund
Recently appointed IMF managing director Christine Lagarde lays out preliminary strategy for Fund; says legitimacy and diversity will play key role in future
DSK’s future will ultimately be decided in France, not New York
Speculation that the case against the former IMF managing director Dominique Strauss-Kahn may collapse has reignited the debate of a return to French politics
Vienna Initiative agreement sets in motion Greece deal
German Chancellor Angela Merkel takes softer approach to Greece; says Vienna Initiative could form part of bailout deal
Berlusconi asks Bini Smaghi to step aside
Italian prime minister acts to ensure French support for Mario Draghi as next head of the European Central Bank
LCR should include equity, says ACP’s Nouy
Basel III liquidity coverage ratio should admit equities with significant haircuts, says Danièle Nouy at the Autorité de Contrôle Prudentiel
IMF candidates battle to win support
Lagarde and Carstens visit Brazil; Merkel supports non-European candidate in the future
Strauss-Kahn bows to pressure and quits
Dominique Strauss-Kahn resigns from his post as managing director of the IMF; continues to deny all allegations
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
Italy's Draghi seals Sarkozy's support for ECB job
French president Nicolas Sarkozy backs Bank of Italy governor Mario Draghi to succeed Jean-Claude Trichet as head of the European Central Bank
Non-US sovereigns should collateralise swaps, say US bank regulators
Progress towards sovereign collateral posting has been slow. Now, US regulators are proposing to make it mandatory - for all non-US entities