Category Archives: Europe Banking

Banking and banks – read articles from Europe.

Seking alternatives to US dollar dominance in global finance on St. Petersburg International Economic Forum SPIEF 2018

The Russian president Putin spoke out against the growing trend of using unilateral restrictions to achieve economic advantage, as he addressed guests of the St. Petersburg International Economic Forum (SPIEF) on Friday. “The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken in a very crude way. Breaking the rules is becoming the new rule,” he said. Investor Jim Rogers noted that the US currency will likely lose its leadership status in the next decade. “Dollar…

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US Government want to replace LIBOR

A body set up by US Government called AARC (Alternative Reference Rate Committee) want to replace LIBOR with a new broad Treasuries repo rate. The new method will work according to an article in Business Insider by reflecting how much it costs to borrow cash secured against US government debts. The ARRC is a group of private-market participants convened by official sector agencies to identify a set of alternative U.S. dollar reference interest rates and to identify an adoption plan with means to facilitate the…

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