Edward Harrison submits:
We have a bit of a divide developing between the EU and the U.S. on banking and bank reform. The most significant move in this tiff has come in retaliation for Wall Street’s role in helping countries like Greece hide their debt burdens. According to the Guardian newspaper, all American banks have been shut out of the sovereign bond market in Europe. While many might think the U.S. government does not have a role to play in this dispute, I know from my own experience as a diplomat that the U.S. government is very aggressive about advocating for U.S. firms abroad.
The Guardian says: