Sunday, September 25, 2011

($EURUSD, $MACRO) German politics: Bail-outs? Nein, danke | The Economist

($EURUSD, $MACRO) £1.75 trillion deal to save the euro - Telegraph

($EURUSD, $MACRO) Portugal's prime minister said the economy is expected to shrink 2.3% next year, worse than expected, as global growth slows.
($JJC) A massive power blackout paralyzed crucial copper mines in Chile on Saturday and darkened vast swaths of the country including the capital Santiago before energy was largely restored, officials said.-Reuters
($EURUSD, $MACRO) Billionaire investor George Soros, speaking on the sidelines of the IMF meeting, said that the crisis is worse than the global financial crisis in the wake of the collapse of Lehman Brothers in the fall of 2008.
“In 2008 the right authorities to deal with the crisis were in place. Now they have to be created,” Soros said.
$UBS Chief Executive Oswald Gruebel resigned on Saturday, taking responsibility for a recent rogue trading incident that cost the Swiss bank at least $2.3 billion in losses.
The board named Sergio Ermotti, the bank’s European head, as interim CEO and launched a search for a permanent successor, UBS said.