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Wheatley to Stand Down as FCA Chief Executive – Profit & Loss (free story)
Martin Wheatley is to stand down as chief executive of the UK’s Financial Conduct Authority with effect from 12 September 2015.

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Greece’s Parliament Passes Austerity Measures Required for Bailout – Wall Street Journal (subscription)
Greece’s Parliament passed austerity measures needed to secure a fresh bailout, but a rebellion within the ruling Syriza party is testing whether Prime Minister Alexis Tsipras can hold his government together as he seeks to complete the deal.

• Greece Licks Wounds After Bailout Vote, ECB Move Expected – Reuters

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FX Manipulation Litigation Heads to Europe – Profit & Loss (free story)
US law firm Scott + Scott is reportedly preparing a new multi-million pound legal case on behalf of European plaintiffs against a number of major banks for FX market manipulation, after achieving success in a similar case in the US.

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Bank of England’s Head of FX Division Leaves – Reuters
The Bank of England’s head of foreign exchange, Michael Cross, has left the Bank, two sources familiar with the situation told Reuters on Monday.

• FX Head Leaves Bank of England – Profit & Loss (free story)

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European Summit Strikes Greece Bailout Deal – Bloomberg
Greece reached an agreement with its creditors over the reforms needed to start talks for a third bailout in five years and remain in the euro.

• Eurozone Strikes Deal With Greece After All-Night Struggle – Reuters
• President Donald Tusk’s Remarks After the Euro Summit of 12 July 2015 on Greece (press release)

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A Tale of Two Crises – Profit & Loss (free story)
While traders in the western markets remain focused on the twists and turns unfolding in Greece and the Eurozone, a potentially more significant financial crisis is developing on the other side of the world that could have graver implications for the world economy.

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Tsipras Heads to Brussels With Greek Future in Euro at Stake – Bloomberg
Greek Prime Minister Alexis Tsipras heads to Brussels in a last-ditch attempt to secure a rescue from European leaders and keep his country in the euro region.

• ECB Maintains Emergency Assistance to Greek Banks (press release)
• Greece Faces Last Chance to Stay in Euro as Cash Runs Out – Reuters

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