Germany
Britain unveils sweeping, cross-border bank levy
UK government publishes draft bank tax law which will affect domestic banks operating overseas and foreign bank operations in Britain; proposal highlights international disunity
BIS: interbank markets are hierarchical
Bank for International Settlements study finds evidence of tiered interbank market in Germany
Buba’s Nagel set to replace Sarrazin
Western states pick Bundesbank head of market operations Joachim Nagel to take Thilo Sarrazin’s place on executive board
Recovery has lost steam and risks remain high, IMF warns
IMF's latest financial stability report strikes a cautionary note about the stalled economic recovery
German paper claims Sarrazin deal pushed onto Buba
Broadsheet says German President Christian Wulff forced Bundesbank to negotiate deal that led to Thilo Sarrazin’s departure; report stirs up concern on Buba’s independence
Bundesbank solves German inflation and unemployment anomaly
Bundesbank study finds new, significant trade-off between unemployment and inflation in Germany
Sarrazin quits Bundesbank
Bundesbank executive board member Thilo Sarrazin leaves central bank after other board members called for his dismissal over anti-Semitic remarks
Buba calls for Sarrazin to be sacked over racist comments
Bundesbank executive board votes unanimously in favour of removing Thilo Sarrazin; central bank takes firm line after Sarrazin’s anti-Semitic remarks spark outrage
Anti-Semitic remarks could end Sarrazin’s term at Buba
Bundesbank condemns executive board member Thilo Sarrazin for racist comments; will hold hearing before deciding on future
Buba’s Sarrazin under racial hatred investigation
German prosecutors launch investigations into racist comments made by Bundesbank executive board member Thilo Sarrazin; central bank maintains silence over controversy
ECB will always end up bailing out sovereigns: Buiter
Former Bank of England rate-setter Willem Buiter says ECB will lose in “game of chicken” with finance ministries over who rescues sovereigns
Differing sovereign debt haircuts to be included in EU stress tests: reports
Reports quote German banking officials as saying that extreme scenarios will apply steep haircuts to PIIGS sovereign debt, but none to bunds or French paper
Buba’s Sarrazin renews racism controversy
Bundesbank executive board member Thilo Sarrazin says Germany is getting “dumber” because of Turkish, Middle Eastern and African immigrants; comments follow similar remarks last year and intensify calls for his removal
German economic strength 'a fallacy': Charles Dumas interview
The Lombard Street Research chairman tells Credit the German economy is far weaker than has been supposed
German rumours of French pact with ECB display tensions
Coverage of German magazine article alleging European Central Bank's bond purchase programme was aimed at helping the French indicative of fertile breeding ground for conspiracy theories
Berlin hastily bans naked CDS, short-selling
Supervisor places temporary ban on naked credit default swaps, eurozone bond short sales, citing market volatility; analysts say uncoordinated move is further sign of fragmentation within eurozone
Market puzzled by Bafin ban
Traders incredulous as Bafin acts unilaterally to calm “extraordinary volatility”
Trichet reaches out to German public
European Central Bank chief Jean-Claude Trichet participates in several interviews with German media to assuage fears over the central bank’s entry into bond markets
Trichet to rally German support for Greek bailout
European Central Bank president Jean-Claude Trichet expected to urge German lawmakers to stop dragging their feet over the Greek bailout, markets suffer as uncertainty persists
Buba's Weber says Greece will need up to €80 billion: reports
Bundesbank president Axel Weber reportedly tells German parliamentary group Greek bailout costs could soar
Greece’s $40 billion bailout an improvement, but issues remain
Markets soothed as firm details of Greek rescue plan are announced, eurozone will provide €30 billion at discounted 5% rate for year forward, analysts less convinced
ECB: German bonds the European safe-haven
ECB paper shows investors sought refuge in German bonds as crisis struck
Merkel and central bankers clash over Greek fix
Bundesbank shows reluctance to back Merkel; ECB president Trichet pushes for European rescue fund to aid beleaguered eurozone members
Only the IMF can save Greece: Berlin
German government backs away from a European bailout for debt-ridden Greece, Fund rescue looks increasingly likely