Morning in brief: Papademos prepares budget, France and Germany clash over ECB

As Greek Prime Minister Lucas Papademos prepares to finalise the country’s budget, Germany and France have again clashed over whether the ECB should intervene more forcibly in the sovereign debt crisis.

International

Having won a three-month mandate to implement budget measures and secure the next £111 billion bailout tranche, Greek Prime Minister Lucas Papademos will today finalise the country’s new budget, according to Bloomberg.

France and Germany are at odds over whether the ECB should be taking more aggressive action in containing the sovereign debt crisis, reports Reuters.

Markets

The Bank of England has signalled that it may choose to grow the quantative easing program from the current target of £275 billion by February, writes the FT.

Companies

Energy company Centrica has said that “unusually warm weather” may result in it failing to meet profit expectations for 2011, reports the BBC.

Fitch Ratings has issued a warning that US banks may be at “serious risk” from the threat of contagion, particularly as the six largest have approximately $50 billion (£32 billion) in exposure to peripheral countries, says Bloomberg.

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