Gareth Gore is an associate editor at IFR, where he writes about global capital markets across asset classes. He has published pieces ranging from the fallout from Russian sanctions, to Greek bank’s attempts at rehabilitation, and the resurgence of US shale producers. Before that, he ran the People & Markets coverage at IFR for five years. Previously, he was a correspondent at Bloomberg News in Madrid, where he wrote about the country's boom and bust.
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Banca Carige has been granted one final chance to meet its capital obligations, with the European Central Bank giving the Italian lender until the end of November to come up with a new plan of action after two previous efforts ended in failure.
European banks and their regulators are locked into a high-stakes game of “who blinks first?” when it comes to possible consolidation within the banking sector, with each waiting for the other to make the first move in what many see as a long-overdue process.
Deutsche Bank has managed to offload about half of a €60bn portfolio of legacy trades that had been a major drag on its earnings, in a sign it is becoming more aggressive in its efforts to cleanup old positions, some of which are more than a decade old.