Top Interest Rate Headlines 02-07-12: Greece Works On Final Rescue Draft

Greece Works on Final Rescue Draft
Greek Prime Minister Lucas Papademos postponed a meeting with heads of the political parties supporting his caretaker government a second time in as many days as the government and international creditors haggled over terms to secure a second aid package.
http://www.bloomberg.com/news/2012-02-07/greek-officials-working-on-final-draft-to-meet-international-rescue-terms.html

EU Transaction Tax Is 'Undesirable,' Dutch Central Bank Says
BusinessWeek
The Dutch central bank said it opposes the introduction of a European financial transaction tax that it estimated would cost the nation's lenders, pension funds and insurers about 4 billion euros ($5.2 billion) and hurt economic growth.
http://jlne.ws/AgTEOy

IMF warns China on eurozone fallout
By Jamil Anderlini in Beijing - Financial Times
Economic growth in China could drop by half this year in the event of a sharp recession in Europe, the IMF predicted on Monday in a report that underscored the importance of global trade to the world’s second largest economy.
http://jlne.ws/xNqC8x

Rate Probe Keys On Traders
By JEAN EAGLESHAM, ATSUKO FUKASE and SAM HOLMES - WSJ
Investigators in a world-wide probe of how crucial interest rates are set are focusing on a small number of traders suspected of trying to influence other bank employees to manipulate the rates, according to people familiar with the situation.
http://jlne.ws/wh8ZV0

MF Brokerage Trustee Traces $105 Billion in Cash Movement
By Tiffany Kary and Linda Sandler - Bloomberg
Feb. 6 (Bloomberg) -- The $1.2 billion in MF Global Inc. customer funds estimated to be missing began to flow out of the brokerage on Oct. 26, five days before its collapse, as its computers and employees failed to keep up with margin calls and demands for collateral, according to a trustee’s investigation.
http://jlne.ws/xlfOwb

Challenges for MF Trustee
BY AARON LUCCHETTI - WSJ
A bankruptcy trustee investigating MF Global Holdings Ltd. said he faces huge challenges getting back an estimated $1.2 billion in customer funds drained from the securities firm before it collapsed.
http://jlne.ws/yIu5Yp