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Jul 19, 2011

EUROZONE Debt Crisis News, Jul 19, 2011

FOREX-Euro struggles; debt crisis buoys Swiss franc
Reuters
By Neal Armstrong LONDON, July 18 (Reuters) - The euro fell on Monday, hitting a record low against the Swiss franc and dropping against the yen as investors grabbed perceived safe-haven currencies on concerns that the euro zone debt crisis could ...
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Irish Deputy PM: EU To Seek Program To Avoid Contagion At Thursday Summit
Wall Street Journal
BRUSSELS--Leaders at Thursday's emergency euro summit aim to craft a credible program to help the European Union to avoid contagion from the Greek debt crisis, said Ireland's deputy prime minister Monday. Ireland welcomes more flexible bailout funds, ...
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WEEK IN FOCUS REPORT INCLUDING: the US is struggling with its own economic woes
Proactive Investors UK
Meanwhile, the Eurozone debt crisis is likely to provide further concern to the market with contagion effects still a key consideration of many investors and as Greece looks ahead to roll-over EUR 2bln worth of 3-month T-Bills on Tuesday. ...
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World economy to keep strong but risks abound ... - Network News
By admin
LONDON (Reuters) – The world economy should expand steadily this year and next thanks mainly to prospering emerging powers, a Reuters poll showed, but fiscal troubles lurking in Europe and potentially the United States risk blowing this ... Economists pointed to the fiscal crisis raging in the euro zone's peripheral countries and the political deadlock in the United States surrounding an increasingly urgent lift to the country's legal debt ceiling as the biggest risks to ...
Network News
NewsDaily: World economy to keep strong but risks abound: Reuters poll
By Andy Bruce
Elsewhere, fiscal austerity in Europe and growing debt fears have soured analysts' sentiment. Economists pointed to the fiscal crisis raging in the euro zone's peripheral countries and the political deadlock in the United States ... " Germany's growth will remain above average, by historic and euro zone standards, so long as the euro zone doesn't totally fall apart and leave just a core group of countries remaining," said Timo Klein, an economist at IHS Global Insight. ...
NewsDaily: Top Headlines
fiscal crisis - Latest news, videos, and information- msnbc.com
Insight on the crisis in Europe, uncertainty over a US debt deal, ... that the eurozone's third-largest economy will not succumb to the debt crisis. ...
www.msnbc.msn.com/id/43715741/ns/business-fiscal_crisis?...
Item Club lowers GDP forecasts over euro crisis
Telegraph.co.uk
Uncertainty among British consumers and ailing business confidence in the face of the eurozone debt crisis will hit UK growth this year, Ernst & Young has warned. Peter Spencer, chief economic advisor to the Item Club, said the risks to the world ...
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Telegraph.co.uk
Investors head for havens in debt storm
Financial Times
By Jack Farchy and Richard Milne in London Gold burst through $1600 for the first time as the eurozone's escalating debt crisis sent fear through financial markets. The precious metal touched a nominal record $1607 a troy ounce on Monday afternoon, ...
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NYMEX-Crude down on debt default worries, dollar up
Reuters
N] * Copper was steady but expected to come under pressure due to doubts about demand from top consumer China and the euro zone debt crisis. [MET/L] Gold rallied to record highs above $1600 an ounce in Europe as investors spooked by the euro zone debt ...
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JSE in the red on euro-zone worries
Independent Online
The JSE continued in the red on Monday afternoon as global markets remained concerned about the euro-zone debt crisis. A local trader said that gold stocks were the only performers at midday on the back of a higher gold price and a weaker rand. ...
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Independent Online
Forex - Focus Back on EU Debt Crisis & Policy Makers Approach
FXstreet.com
We suspect that the market's “goodwill” toward EU policymakers has all been but tapped and they need to make the most of this meeting. To add to the view that credibility issues will continued to plague this current wave of the crisis, FT reported that ...
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Gold price hits record amid Eurozone and US debt ceiling jitters
The Guardian
The controversial bank test brings questions to overall theories for how a pseudo crisis is initiated to make the euro fall on the knees. It reminds back the memories of the mock Canadian debt Journalists get in there and scrutinize this psudo crisis ...
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The Guardian
EU wheat prices slip as debt crisis weighs
Reuters Africa
LONDON, July 18 (Reuters) - Wheat prices in western European markets were lower on Monday as a deepening debt crisis in both the euro zone and the United States increased risk aversion among investors and weighed on commodity markets. ...
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Asia stocks slump on US, EU debt woes; Nikkei closed
Business Insider
Forexpros – Asian stock markets were broadly lower on Monday, as worries over a potential US sovereign debt default and ongoing concerns over the euro zone's debt crisis prompted investors to shun riskier assets. During late Asian trade, ...
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Euro Currency Crisis Stopped by US Debt Debate: Strategist
CNBC.com
The euro zone has avoided a major currency crisis so far because of the dispute around raising the debt ceiling on the other side of the Atlantic, David Bloom, global head of foreign exchange strategy at HSBC, told CNBC on Monday. ...
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COLUMN-Haircut won't solve Greece's woes -Bundesbank's Nagel
Reuters
By Joachim Nagel, Bundesbank Board Member FRANKFURT, July 18 (Reuters) - Financial markets are being dominated by the expectation that, on the one hand, Greece cannot avoid a haircut and, on the other, that the sovereign debt crisis could encompass ...
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Italy sell-off deepens on debt worries
Reuters
Italy has moved to the eye of the storm in Europe's debt crisis in the past week and its stock markets fell around twice as much as other major European markets in morning trade. That reflects concern that the euro zone's third biggest economy may be ...
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TSX Poised For Weak Open Amid Euro Zone Jitters - Canadian Commentary
RTT News
The price of crude oil moved down Monday morning on concerns that euro zone debt crisis could hit the economy of the continent. Crude for August down $1.16 to $96.08 a barrel. The price of gold surged to a fresh record above $1600 as traders fret over ...
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Cabinet to Discuss Euro Crisis with House ahead of EU Summit
NIS News Bulletin
Prime Minister Mark Rutte will attend Thursday's crisis summit to discuss the European debt crisis. He already said last week that there is no point in holding a meeting of the 17 eurozone countries unless there is certainty beforehand that agreement ...
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Lira Sinks to Lowest Level in Two Years on Europe Debt Concern
BusinessWeek
2 deadline for raising the US debt ceiling looms. “The absence of any steps regarding the euro-zone debt crisis and the US debt ceiling is keeping the markets under pressure,” Fatih Keresteci, a strategist at the Turkish unit of HSBC Holdings Plc, ...
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EU dithers over debt crisis as Greece nears collapse
First Post
The EU is struggling to reach agreement on how to deal with the growing debt crisis, as Germany sets itself against a plan to shore up Greece with eurozone-guaranteed bonds. "Nothing would destroy more quickly and in a more lasting fashion incentives ...
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ECB's Mersch-Inflation risks to upside, eyeing developments
Reuters
Nikkei published its interview on Sunday, focusing on Mersch's fears about the crisis. In the transcript Mersch said the ECB's attempts to wind down its crisis support measures would be governed by the path of the euro zone debt crisis. ...
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The European Debt Crisis Worsens And The US Debt Ceiling Drama Continues
Business Insider
The European Debt Crisis of the Twenty-first Century, “The Black Debt,” continued spreading across Europe like the plague. (Originating in China, the Black Death swept through Europe from 1348 to 1350, killing 30% to 60% of the population. ...
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Investors Boost Bullish Commodity Bets as Gold Demand Jumps on Debt Crisis
Bloomberg
“There was a lot of fear in the marketplace about a potential downgrade of US debt and more negative news from the euro zone,” said Brad Durham, an EPFR managing director. “It was a good, old-fashioned flight-to-safety trade. ...
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Treasurys seesaw on euro concern, investment data
MarketWatch
By Sara Sjølin, MarketWatch NEW YORK (MarketWatch) — Treasury prices swung between gains and losses Monday, as concerns about the euro-zone debt crisis deepened over the weekend pushed prices higher, while weaker foreign-investment data for May ...
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Stock markets slump as fears mount over debt crisis
Irish Independent
By Independent.ie reporters Stock markets fell today as confusion reigned in Europe about the continent's debt crisis and how it can be contained. In the UK, the FTSE 100 index fell 0.9pc, France's Cac shed 1.4pc, and Germany's Dax was 1.3pc down as ...
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Roubini On Europe's 'Last Stand': Don't Fear A Greek Debt Restructuring And A ...
Forbes (blog)
(Read Euro Contagion: Italian Equities Tank, Yields And CDS Jump). In this environment, Nouriel Roubini, the NYU economist that anticipated the financial crisis, came out in defense of a debt restructuring that would trigger a “selective default” but ...
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Hot Option Plays: WANTED: Buyers
Daily Markets
The table was set for morning weakness on Wall Street after stock benchmarks moved broadly lower across Europe amid ongoing concerns about the European Debt Crisis. A series of stress tests of Eurozone banks late last week failed to ease those concerns ...
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Mid-Day Report: Euro Remains Weak as EU Leaders Called for Second Emergency ...
Action Forex
The single currency extended intra-day decline to as low as 1.4015 in part due to rising concerns over eurozone debt crisis when Europe leaders called for another emergency meeting this Thursday to discuss second bailout package for Greece, ...
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Morning Briefing: European Banks Stress Test Impact Eyed
Wall Street Journal (blog)
The euro zone's debt crisis and a resolution are central to regional foreign exchange developments Monday. Uncertainty about the way out from the crisis could weaken currencies in the short term, but such declines would likely be limited, ...
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IFR-Loan desks look to increase interest margins in US, Europe
Reuters
Both tools have already been deployed -- in the US as the leveraged loan market repriced in 2Q and the European market followed in July as Europe's intensifying debt crisis caused major bond market disruption. Bankers on both sides of the Atlantic are ...
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CANADA FX DEBT-C$ softer as sovereign debt fears rise; BoC eyed
Reuters
... on Monday as riskier assets succumbed to fears of a sovereign debt default in Europe and the United States. European bank stress test results last Friday did little to calm fears that the euro zone crisis is getting worse, sending the euro, ...
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* GMR power ties up $820m debt for Singapore plant
Financial Times (blog)
Global consumer confidence fell in the second quarter to its lowest level in a year and a half as an uncertain economic outlook, a deepening euro zone debt crisis and rising inflation made people more cautious, a survey showed on Sunday, ...
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Sovereign Debt Risk Rises to Record in Europe, Credit Swaps Show
Bloomberg
Contagion to France and Germany “reflects the reality that the euro zone is in complete crisis,” said Gary Jenkins, head of fixed income at Evolution Securities Ltd. in London. “If we get anywhere close to looking at France, it's game over. ...
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S Korea Won Lower Late Amid Weak Risk Appetite; Bonds Little Moved
Wall Street Journal
... better than expected in stress-test results released Friday, the results did little to boost sentiment on the euro and other risk-sensitive currencies, including the won, as uncertainties over the euro-zone debt crisis continue to grip the market. ...
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European bond yields soar, stocks plummet on debt fears
Los Angeles Times (blog)
Rising yields on Spanish and Italian bonds threaten to undermine those countries' finances and create a far larger crisis for Europe. The yield on two-year Italian bonds rose to 4.6% on Monday from 4.2% on Friday. The yield was just 3.0% two weeks ago. ...
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European banks under spotlight
Business Daily Africa
This amount -- puny in the broader context of European banking -- sparked a repeat of last year's accusations that the stress tests were again unrealistic given the euro zone's sovereign debt crisis. The major shortcoming of the test was the lack of ...
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Business Daily Africa
DEBT CRISIS HITS MARKETS ON BOTH SIDES OF ATLANTIC
Express.co.uk
Quite how the eurozone's sovereign debt crisis plays out remains very much open to conjecture. Worries about the global economy have prompted leading forecaster Ernst & Young ITEM Club to slash its growth estimates for the UK this year from 1.8 per ...
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US GOLD - Comex gold steady above $1600/oz as US, eurozone debt problems spook ...
FXstreet.com
“Investors are unconvinced that this week's summit of EU leaders will lead to any concrete steps in stemming the spread of the eurozone's debt crisis,” Standard Bank added. These two dire situations have started a race to the bottom for paper ...
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MONEY MARKETS-Sovereign woes to keep interbank market on edge
Reuters
... banks' exposures as part of a Europe-wide banking healthcheck. Markets were focused on the intensifying crisis in the euro zone which is keeping banks' appetite to lend low and rates high as debt problems threaten to envelop Italy and Spain. ...
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Summers urges aggressive euro zone crisis response | MAARS News
By Valkyries
WASHINGTON (Reuters) – Former White House aide Lawrence Summers on Sunday urged Europe to take a more aggressive response to the debt crisis sweeping the region and suggested patience with its approach was running thin. ...
MAARS News
Merkel defends handling of eurozone crisis - The Local
ECB President Jean-Claude Trichet told the Financial Times Deutschland that it was unfair to slam Merkel for dithering throughout the eurozone's sovereign debt crisis. "I would see a discussion of this kind as being completely misplaced ...
The Local - Germany's news in English
Stocks Down Sharply on U.S., Europe Debt Worries | Stock Market News
By edliston
Stocks are down sharply in early trading today on worries over U.S. and euro zone debt crisis. The concerns over the debt crisis in the U.S. and the euro zone.
Stock Market News
Test puts banks' euro zone debt in spotlight (Reuters) | Network News
By Arystydes
LONDON (Reuters) – Banks with substantial peripheral euro zone bond holdings, and those that only scraped through the European Union's stress test of 90 lenders, started feeling the heat on Monday from investors anxious they should beef up their capital buffers. ... This amount — puny in the broader context of European banking — sparked a repeat of last year's accusations that the stress tests were again unrealistic given the euro zone's sovereign debt crisis. ...
Network News
New blog from Ruth Lea – The Eurozone crisis deepens: one step ...
By The People's Pledge Team
But there was no such agreement (the “debt crisis” can fairly be described as having morphed into a “political crisis”) though there was recognition that there may a Greek “selective default”, so that was progress of sorts. There will now be a meeting of ... Alternatively the Eurozone could be split into two blocs comprising a “northern euro” and a “southern euro” (the “two currencies solution”), though has to be said there are few takers for this solution at present. ...
The People's Pledge
Global stocks drop on European debt crisis - Interaksyon.com
By Agence France-Presse
Investor focus is moving toward Thursday's Brussels summit of eurozone leaders who will seek to settle their debt crisis and stop Greece toppling into a possible default and dragging bigger euro economies into deeper trouble. ...
Interaksyon.com
ECB Mersch: Quick Greece Deal Needed To Avert Euro Crisis | ForexLive
a new bailout package for Greece could provoke a currency crisis in the. Eurozone, European Central Bank Governing Council member Yves Mersch said in an interview with Japan's Nikkei news agency, published over the weekend. ... “The debt crisis can turn into a euro crisis,” he added. Heads of state and government of the Eurozone countries are due to meet Thursday in Brussels in an emergency summit to try and give some impetus to a solution for the Greek crisis. ...
ForexLive
Buoyant gold and silver prices as Eurozone crisis continues to ...
By CBN
In the euro it roared, this morning, and Fixed at €1136.33 as the Eurozone crisis degraded one more step. After the Fix gold got a firm hold above $1600 trading at $1601 for the first time ever, with both the euro and the dollar falling ... The week has started on a strong note as the Eurozone crisis worsened, noticeably. The markets are unimpressed with the process of tackling Greek debt. The voluntary lengthening of maturities or lowering of interest rates would be an ...
China business news
UK Rightmove house price data lower than forecast | Currency News
By Toby
The Pound still remained above the 1.60 level however, and advanced on an ailing Euro as fears were raised that E.U ministers wouldn't be able to contain the growing Euro zone debt crisis in a summit later this week. ...
Currency News
Greece – Papandreou Shares Views On Debt Crisis - Secaucus New ...
By Lucille
It was time for Europe to wake up. Prime Minister George Papandreou of Greece was able to figure out an answer for the national problem of debt crisis. George Papandreou is firm with his statement that Greece will not run away in paying ...
Secaucus New Jersey News
EU bank stress tests spotlight eurozone debt crisis — EUbusiness ...
EU bank stress tests spotlight eurozone debt crisis ... the Irish government had to be rescued with an enormous multi-billion-euro EU-IMF bailout loan. ...
www.eubusiness.com/news-eu/britain-greece-test.bbm
Eurozone Debt Crisis Hits UK Growth Forecast | ThunderFeeds
Eurozone Debt Crisis Hits UK Growth Forecast ... New In Last 20 minutes; Vote! European Debt Fears Hit Markets After Stress ... ukStocks, Euro Drop on EU Crisis ConcernsBloombergBars of one-kilogram silver are arranged for a photograph. ...
thunderfeeds.com/.../eurozone-debt-crisis-hits-uk-growth-fore...
Dailymotion - Eurozone ministers hold talks to quell debt crisis ...
more close. News & Politics. Uploaded on 12/07/11. Europe Eurozone hold euronews ministers quell talks debt crisis. Statistics. Time ...
www.dailymotion.com/.../xjvao6_eurozone-ministers-hold-tal...
Eurozone Sovereign Debt Crisis at a Critical Point - Seeking Alpha
The contagion to Italy is a turning point in the euro-zone crisis. ... I was on BNN yesterday to talk about the debt crises in the U.S. and Euroland with host Paul Waldie and .... Headline : July 11, 2011 : News of the Day - Part Two ...
seekingalpha.com/.../279226-eurozone-sovereign-debt-crisis-a...

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