TRANSCRIPT AND SOURCES: www.corbettreport.com The European sovereign debt crisis which has been gestating for years seems ready to come to a head as the IMF met last weekend in Washington that were dominated by talks about Greece, debt, and the risk of global contagion. Amidst tense talks about the future of the Eurozone in which the idea of allowing Greece to default on its insurmountable half-trillion dollar debt was floated, even the usually staid US Treasury Secretary, Timothy Geithner, warned that “cascading default, bank runs, and catastrophic risk” was a real possibility. G20 Finance Ministers and central bank governors are now calling for the European Central Bank to double their existing bailout fund to create a trillion Euro emergency stockpile to recapitalize European banks and fund Spain and Italy as their economies teeter on the edge of a Greek-like meltdown…
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ww.ntv.co.ke Once referred to as the green city under the sun, Nairobi remains a dynamic metropolis offering the most sophisticated communication and transport services in the region. In the 2nd part of the series, scramble for financial services market, NTV’s Kaara Wainaina speaks with international banks on why they prefer to base their regional headquarters here. And contrary to popular belief, many international financial institutions find Kenyan authorities supportive and friendly compared to many other African nations.
