Danish Banks Fire Moody’s For “Business Reasons”

MILESTONES: DENMARK   By Gordon Platt   Moody’s Investors Service says something is rotten in Denmark’s mortgage industry. The country’s banks are still issuing interest-only loans, years after the real-estate bubble burst.   Copenhagen still home to interest-free mortgages Meanwhile, Denmark’s household ...

Shotgun Wedding For Spanish Banks

MILESTONES: SPAIN   By Vanessa Drucker   The merger agreement between CaixaBank and Banca Civica smacks of a shotgun wedding—for Civica, anyhow.   Spanish banks forced to tie the knot by capital requirements CaixaBank, Spain’s largest bank by retail branches, is ...

Reding Lobbies For Board Member Quotas

NEWSMAKERS: EUROPE   By Valentina Pasquali   In the European Union, women comprise 60% of university graduates but only about 12% of corporate board members.   Reding: Tackling red-hot issues such as gender parity The European Commission has decided to take action ...

Hildebrand Out At SNB After Wife’s FX Trading Binge

NEWSMAKERS: SWITZERLAND   By Valentina Pasquali   In the midst of Europe's sovereign debt crisis, a scandal hit the beleaguered continent's financial system in January.   Hildebrand forced out of Swiss Central Bank role The head of Switzerland's central bank, ...

Passera Faces Tough Job To Win Over Italian Parliament

NEWSMAKERS: ITALY   By Paula Green   Ready or not, as minister of economic development, infrastructure and transport for the newly-formed government of prime minister Mario Monti, Italian banker-turned-bureaucrat Corrado Passera will be honing his political skills this year.   ...

Rajoy Hopes To Reassure Investors In Spain

NEWSMAKERS: SPAIN   By Valentina Pasquali   Like Greece and Italy, Spain too has a new government, tasked with bringing the country back from the brink.   Rajoy heads new government Unlike Greece’s Lucas Papademos and Italy’s Mario Monti, Spain’s prime ...