November 30, 2010
In this interview on Huffington Post, there seems to be real trouble ahead for the financial services sector.
Wikileaks is set to release a huge amount of documents in 2011 about a large American bank. Reading between the lines, we can probably presume that he means an investment bank. Probably a global one. That narrows the list down to just a few names really.
What does this mean? Probably criminal charges, possibly a huge loss of reputation. Almost certainly, more turmoil to come in global stock, bond and derivative markets.
This might be enough to take the focus away from the problems facing the euro, but I doubt it. It might even relieve the pressure if markets become stuck again. But really, this is a very desparate hope to cling to!