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Britain’s refusal to take part in the eurozone’s €750bn rescue plan triggered a backlash on Tuesday with a senior French policymaker suggesting Europe would think hard about coming to the UK’s assistance in a sterling crisis.
Jean-Pierre Jouyet, the head of the French markets regulator, said sterling was bound to come under pressure on the markets given the delay in forming a UK government after last week’s inconclusive general election.
Mr Jouyet, a former Europe minister who is close to President Nicolas Sarkozy, indicated that Britain could expect no help from the eurozone.
“The British are most definitely going to be targeted given the political difficulties they have,” he told Europe1 radio.
“If they don’t want solidarity with the eurozone, we will see what will happen with regard to the United Kingdom.”
(Reuters) - The Senate on Tuesday approved a proposal to examine the Federal Reserve's role in the Wall Street bailouts of 2008-2009 as part of a broad financial regulation reform bill.
The proposal from independent Senator Bernie Sanders would order congressional investigators to conduct a single audit of the U.S. central bank's use of its emergency lending authority since December 2007. It would require the Fed by December 1 to disclose which banks received its help.
It passed by a vote of 96 to 0.
The Senate was next expected to consider a more stringent measure, opposed by the Fed, that would subject the central bank to ongoing congressional audits.
Vitter amendment to audit Fed voted down 62-37