Saturday, May 28, 2011

Fed’s Loans, EU Bank Penalties, Finra Fines, Austria Raids: Compliance

BEIJING, -- Chinese President Hu Jintao and his Austrian counterpart Heinz Fischer exchanged messages of congratulations on Saturday to mark the 40th anniversary of the establishment of bilateral ties.

Hu said China and Austria formally set up diplomatic relations 40 years ago which opened a new chapter for bilateral ties.

The relationship between China and Austria has become increasingly mature and vigorous thanks to the joint efforts of both sides over the past 40 years, Hu said.

Exchanges of visits between leaders of the two countries have become frequent, and mutual understanding and trust have deepened, Hu said, adding that cooperation in economy and trade, culture, science and technology have continued to expand.

China and Austria have also maintained good communications and coordination on international affairs within the United Nations and other multilateral organizations.

Hu stressed that promoting a healthy and stable relationship between China and Austria on the basis of mutual respect, equality and mutual benefit is a consistent policy of the Chinese government.

Wellink Calls Hoogduin Good Candidate for ECB Executive Board
European Central Bank Governing Council member Nout Wellink said Lex Hoogduin, who leaves the Dutch central bank in July, would be a “good candidate” for the ECB’s executive board.
Wellink, who also heads the Dutch central bank, made the remarks in an interview in Amsterdam today.
“It depends on what will happen with the post of Bini Smaghi, who will fill that, and that depends on what happens next year with the Spaniard in the ECB’s executive board,” Wellink said, referring to Jose Manuel Gonzalez-Paramo, whose term ends in May 2012.
Hoogduin, who was seen as a possible successor to Wellink, last week announced his resignation after Finance Minister Jan Kees de Jager picked top civil servant Klaas Knot to lead the bank in July. Hoogduin, 54, a former adviser to late ECB President Wim Duisenberg, joined the Dutch central bank’s governing board in 2009.

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