Late Lunchtime Links: Consensus emerges on saving the eurozone - a new €30bn tax banks
As Angela Merkel and Nicholas Sarkozy meet to contemplate new ways of revivifying the eurozone, the Financial Times says opinion is coalescing around a cunning plan for dealing with the problems posed by Greece: a €30bn tax on European banks.
There are few new details at the moment, but Reuters says the tax would apply only to eurozone banks and that the German banking lobby is already objecting.
BreakingViews points out that it all seems like a bad idea. For the tax to be fair it would really need to apply to holders of Greek debt who are both inside and outside the eurozone (including UK and US banks).
28 banks could attract a new too big to fail surcharge. (Bloomberg)
Why US banks might have a lot more exposure to the European debt crisis than they're letting on. (Fool)
14bn in bonuses paid last year; 19bn paid in 2009; 12bn paid in 2008. (Guardian)
Matrix Corporate Capital and Panmure Gordon could be cutting lots of jobs this summer. (Sky)
Nichola Pease and Crispin Odey are now even richer than before. (The Times)
Blackrock's profits rose 43% in the second quarter. (Bloomberg)
Blackrock paid an additional $114m in compensation in the past quarter. (Blackrock)
"What we have here is a Goldman Sachs in metamorphosis, changing its business model and reflecting a unique downturn in the industry." (Wall Street Journal)
BAML made money on 97% of trading days in the second quarter. (Seeking Alpha Transcript)