AN interim report by the Vickers Commission on the British Banking Industry proposed that major banks should set aside 10 per cent of capital as a buffer against hard times and ring-fence retail (high-street) banking from other more speculative operations. There was criticism that the proposals were not tough enough for an industry that tended to be a law unto itself.
IN an unanimous report the US Senate Committee looking at Wall Street was very critical of the performance of Goldman Sachs during the 2008 financial crisis.
UNREST continued in several parts of Syria, with demonstrators calling for an end to the long-standing state of emergency and political reforms. The security services responded with rough handling of the demonstrators and in some cases caused deaths and injuries.
PRESIDENT Obama, President Sarkozy and Prime Minister Cameron signed a joint open letter reaffirming their determination to bring Muammar Gaddafi's leadership in Libya to an end. The letter coincided with only luke-warm support for further involvement in air operations over Libya from Nato members.
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