WireTap 1400 08/12/11

ECB cuts rates to record low on recession fears

The ECB has cut interest rates by 25 basis points to counter fears of recession and deflation.

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Banks prep for life after Euro

Some central banks in Europe are looking at contingency plans in case of a Euro collapse.

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Corzine: 'I simply do not know where the money is'

The former MF Global executive has stated that he has no idea where missing funds may be.

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Europe’s banks fall on capitalisation fears

European bank stocks have fallen amid fears about their capitalisation and uncertainty over the ECB’s monetary policy meeting today.

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Japan: not aware of IMF $600 billion euro zone aid plan

A Japanese government official said today that he was not aware of the IMF lending facility for the Eurozone, although the Japanese government would consider bilateral loans to the IMF if warranted.

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