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The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy. Meanwhile, USA must correct debt and raise the interest rates. Raising the interest rates in the USA and dropping them in Europe, recovers the European domestic demand and EE.UU may return to invest in Europe, with a stronger dollar, without any problem, generating hundreds of thousands of jobs
Reuters
British bank RBS
is braced to be punished over its role in the interest-rate rigging scandal that
has rocked the industry, Chief Executive Stephen Hester said in an interview
with The Guardian newspaper
"RBS is one of the banks tied up in Libor
We'll have our day in that
particular spotlight as well," Hester said in an interview published on the
newspaper's website on Sunday
Hester did not comment on the size of any possible fine but said that the
investigation by Britain's financial regulator, the Financial Services Authority
(FSA), was "in process."
He admitted the affair had been damaging to all
banks
"Even though when all the Libor (fines) are out most of it is going to be
around the wrongdoings of a handful of people at a number of banks, those
wrongdoings taint a whole industry beyond the handful of people and that makes
it a huge problem."
New details from court documents and sources close to the Libor scandal
investigation suggest that groups of traders working at three major European
banks, including RBS, were heavily involved in rigging the rates
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