Whither the euro?

[Huguenot]

What do you think that tells us NN?

[silverfox]

French MPs throw out proposal to audit their expenses

None of my business really - a matter for the French people.

I mention it only from the point of view that it is a bit rich for the lovely Mme Christine Legarde to tell the Greeks to tighten their belts etc when she has been used to a no-questions-asked annual allowance equivalent to ?60,000.

Leveson please note: France does not have a national press like the UK to expose such largesse.

http://www.bbc.co.uk/news/world-europe-19004353

[silverfox]

Oh oh, this could be serious.

Italian Police Raid Barclays Over Rate-Fixing

http://news.sky.com/story/967142/italian-police-raid-barclays-over-rate-fixing

If the PIIGS can show Barclays and other banks have contributed to their nations' indebtedness by fixing Euribor rates, as they did with Libor, and sue them accordingly this could be explosive.

[Huguenot]

There's no doubt in my mind that many of the rates have been fixed, I'm full of joy to see a potential come-uppance in the offing.

This one isn't going to be enough though - it needs the US or Germany to get involved.

[DaveR]

Everybody is already involved in the LIBOR case - the US (DoJ, SEC, CFTC), the European Commission, the Japanese, the Swiss, us Brits (the FSA and finally the SFO) and a whole bunch of other national regulators the world over. The Italians are just joining the party a little bit late.