Neil Unmack is a Reuters Breakingviews columnist based in London. He covers credit markets, hedge funds, and Italy. Previously he was a corporate finance reporter at Bloomberg News in London. He started his career as a financial journalist in 2001 at Euromoney Institutional Investor, where he covered structured finance for EuroWeek magazine. He was educated at Eton College and Oxford University, graduating with a first class degree in modern languages. Follow Neil on Twitter @unmack1
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The central bank seems ready to break its own collateral rules to buy Greek or Cypriot asset-backed debt. That’s a side effect of policy success, not a cause for worry. The ECB needn’t be a slave of rating agencies, and the risks to its balance sheet are manageable.
Italian prime minister and “scrapper” of Roman politics Matteo Renzi has angered his own camp with his labour reform plans. If his Jobs Act passes, it will boost growth and help the ECB maintain loose monetary policy in the meantime. But many tough fights lie ahead.
Philip Hampton is to join drug giant GSK in January, but may not succeed Chris Gent as chairman until next September. The long transition reflects the difficulty of replacing Hampton at state-backed RBS in an election year. For GSK, the ambiguity in board leadership is unhelpful.
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- GSK graft case raises risk for executives in China
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- ECB’s trillion-euro race may start slowly
- Leverage shares the blame in Phones 4u collapse