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Following the collapse of the bank he was running until earlier this year, Rodrigo Rato probably thought he would be able to slip into a quiet, if tarnished retirement. A former managing director of the IMF and minister of the economy during Spain's boom years, Rato...
[youtube]http://www.youtube.com/watch?v=S78RzZr3IwI[/youtube]
The FT has this as lead story this morning: The European Union would gain far-reaching powers to rewrite national budgets for eurozone countries that breach debt and deficit rules under proposals likely to be discussed at a summit this week, according to a draft...