Today: EUROZONE Debt Crisis News, Aug 02, 2011

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Aug 2, 2011

EUROZONE Debt Crisis News, Aug 02, 2011

Europe on the Verge of Becoming a Transfer Union
Spiegel Online
The emergency EU summit on Greece last month pushed Europe closer to a transfer union. The euro zone looks set to evolve into a transfer union as it struggles to overcome the debt crisis. There are a number of options for the institutionalized shift of...
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Bunds Surge, Periphery Weakens On ISM, US Debt Worries
Wall Street Journal
... and Mark Brown LONDON (Dow Jones)--Riskier euro-zone sovereign bonds gave up their gains and safe-haven German bunds surged in afternoon trading Monday in Europe, as weaker US economic data added to residual worries about the US debt crisis. ...
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FOREX-Euro tumbles broadly as weak data spurs risk aversion
Reuters
Thin volume exaggerated price movements, a trader said, but the euro should continue to struggle as it faces a headwind over the near term as the euro zone recovery slows. The European Union may even step up efforts to address the sovereign debt crisis ...
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ECB Should Signal Rate Climb-Down
Wall Street Journal
By RICHARD BARLEY The euro-zone economy is shrouded with gloom, the sovereign-debt crisisis unresolved and the global outlook has deteriorated. This is no time for the European Central Bank, which has raised interest rates twice since April to 1.5% ...
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Blundering towards a 'You Break it You Own it' Europe
Financial Times
By Willem Buiter The latest instalment of the drama that is the eurozone periphery sovereign debt crisis and European Union-wide banking sector crisis demonstrates that fiscal federalism is not going to happen. Nor will its primitive sibling, ...
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European Relief at Debt Deal Proves Short-Lived
Wall Street Journal
By TOM MUDD LONDON --The US debt-ceiling agreement came as an 11th-hour blessing for Europeans who feared that a US default would pitch their governments into an even deeper crisis of their own. But the recovery in European financial markets was ...
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Cyprus faces imminent bailout threat, biggest bank says
Reuters UK
"There is an imminent threat of Cyprus joining the European Union support mechanism, with whatever drawbacks that will entail." Since the euro zone's sovereign debt crisis erupted last year, the EU and the International Monetary Fund have announced ...
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Morning papers: Obama announces deal on US debt limit
FT Adviser
The euro fell against most of its peers before Spain sells bonds this week amid concern Europe's debt crisis will linger. The surge in commodity prices and erosion of business confidence is leading to sluggish economic growth, according to the CBI, ...
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EU Economy: Unemployment Remains Stuck At 9.9% As Economic Growth Slows Down ...
eGov monitor
Lack of investor confidence and the debt crisis has slowed down growth in the euro area and has left unemployment stuck at 9.9% for the fourth consecutive month, according to figures released byEuropean Union statistics office in Luxembourg. ...
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Asia Seeks to Cut Its Ties to Western Borrowers
New York Times
A sovereign debt crisis in the West could bring a sudden withdrawal of that foreign money, much as it did after the Lehman Brothers bankruptcy in 2008. The debt deal that President Barack Obama announced in Washington on Sunday appeared to neutralize ...
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Beware the guns of August
Financial Times
It surely has not solved the crisis in the eurozone. But the European Union's leaders might have done enough to ensure that there will probably be no call for further emergency summits until after the rentrĂ©e in early September. ...
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Citi analysis: Romania is less vulnerable to the crisis in the euro zone
ACTmedia
From the perspective of debt/financing, emerging Europe does not have a solvencycrisis, as many states in the euro zone, with the exception of Hungary, the debts are lower than in the euro zone, at 40% of the GDP. This level is half against the EU and...
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ACTmedia
European debt crisis is still a major concern
Olive Press
In the euro zone, the European debt crisis is still a major concern for investors but some of the focus has been elsewhere following the ongoing impasse in the USA. Friday saw credit rating agency Moody's threaten to slash Spain's credit rating and ...
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An uncomfortable final stretch for Trichet
Financial Times
By Ralph Atkins in Frankfurt Other eurozone policymakers have fled on holiday, hoping for respite from the region's debt crisis. Jean-Claude Trichet, however, remains in Frankfurt this week, for August's European Central Bank governing council meeting ...
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Investors: Sovereign Debt Crisis Queuing Up Round 2 Of The Global Financial Crisis
ETF Daily News (blog)
And if you think it's just Europe's problem, think again! Every major country has stepped in with support for the euro zone to keep the bubble from popping, in the form of: Funding by the IMF, the buying of troubled European sovereign debt by Japan and...
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ETF Daily News (blog)
EU/IMF start Portugal bailout review, focus on slippage
Reuters
Portugal's bond yields have fallen somewhat since European leaders agreed a new rescue package for Greece and eased the terms on existing bailout loans for all three of the euro zone countries bailed out in the debt crisis to date. ...
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ECONOMY. Public debt and public confidence
Wanted in Rome
Two things are surprising about the Italian debt crisis that hit the country in mid-July. The first is that it didn't happen earlier, and the second is that, when it did happen, both government and opposition parties agreed remarkably quickly on what ...
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Wanted in Rome
World stocks fall on sovereign debt woes
TODAYonline
The move is a further sign that last week's bailout of Greece has not ended fears of debt crisiscontagion elsewhere in Europe. Spain has the zone's fourth-largest economy and many economists say Europe cannot afford to bail out the country. ...
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European Factors-Shares seen sharply higher on US debt deal
Reuters
DE-E] The industrial gases company will expand outside Europe more than planned if politicians fail to resolve the European debt crisis, weekly magazine WirtschaftsWoche cited its CEO Wolfgang Reitzle as saying. (Reporting by Atul Prakash)
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The scariest thing about the world economy
Real News Network (blog)
Two big issues have dominated headlines in the past week: sovereign debt problems in the two biggest economic groupings, the United States and the European Union. To a dispassionate observer, it can be a source of wonder that what began as a crisis ...
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Italian Bank Stocks Plummet As $360k In A Shoe Box Threatens FinMin Tremonti
Forbes (blog)
Italy has been under heavy fire ever since investors began to target the large Mediterranean country for its record-high debt-to-GDP ratio, which at 120% is second only to Greece within the Eurozone. Despite the Eurozone's recent attempts to prevent ...
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In wake of debt deal, Asian and European markets surge
Washington Post
And Europe has yet to definitively cure its own debt crisis, with concerns lingering about the details of a major deal on Greece and fear that the massive but troubled economies of Spain and Italy could get swept deeper into the crisis. ...
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Greek central bank lifts gold reserves further
MarketWatch
The debt crisis in Greece and other euro-zone nations like Portugal had led to speculation among market participants and observers over whether Europe's debt-laden countries may move to liquidate their gold holdings in order to raise cash. ...
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Europe factory sector almost stalls, Asia slows
Reuters
The indexes added though to worries that sovereign debt in major demand centers such as Europe and the United States is weighing on their economic recoveries from the global financial crisis. New export order growth in China, the world's biggest ...
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Reuters
FTSE 100 climbs as US futures rally on breakthrough debt deal
Proactive Investors UK
Banks were doing well as yesterday's deal calmed concerns over their exposure to thedebt crisis in Europe and the US. The sector got more support from today's bumper interim results from sector major HSBC (LON:HSBA), whose profits unexpectedly climbed ...
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Proactive Investors UK
FACTBOX-Key political risks to watch in Poland
TrustLaw
For interview with SLD head, please see: * Euro zone debt crisis. Poland's economic recovery depends strongly on the situation in Germany and other wealthy EU members and the Polish zloty usually falls on growing risk aversion when investor worries ...
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Rise of Commodities: An asset class for investment
Economic Times
Euro zone debt crisis, talk of another round of quantitative easing in the US, volatile stock and currency markets - it's a rather bleak economic scenario, and investors have reasons to worry about their money. Are you looking for a safe haven? ...
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Markets turn tail on weak US data
Sydney Morning Herald
As the day went on, however, doubts about the debt deal grew, with the banking sector very badly hit, especially in Italy and Spain as nervous investors worried that the two will be snared by theeurozone debt crisis. News that US manufacturing ...
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Market View of Italy, Spain Risk Is 'Ludicrous,' Van Rompuy Says
San Francisco Chronicle
... off contagion from Europe's sovereign-debt crisis. Confidence in Italy's debt markets has waned over the past two months as both Standard & Poor's and Moody's Investors Service warned they may downgrade bonds sold by the third-biggest euro member. ...
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all-round decline
Business Recorder
The uncertainty over the US debt crisis also kept growth-linked currencies, such as Australian dollar, in check. Yuan hit a record high against dollar, reversing the morning's fall and in spite of a slightly lower mid-point fixing as the market braced ...
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Weekly Euro / Sterling exchange rate forecast from France Financial
Guide 2 Midi-Pyrenees
Fear of contagion in the Eurozone has not gone away and uncertainty is likely to slow any majorEuro advance against the pound over the next few weeks. The European Sovereign Debt crisiscontinues to hit the headlines. In the short term the ECB has ...
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Poor manufacturing data underlines shaky global economy
Interactive Investor
The country is exposed to any crisis with Greek banks and suffered a power station explosion which is set to significantly damage manufacturing production for months. Worries have emerged that the second Greek bail-out didn't do enough to lighten the ...
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Interactive Investor
Gold Prices Not Driven by Debt Dramas
BullionVault
These are considerable forces that make any speculative buying on the back of the US or Eurozone debt crisis pale into insignificance in today's precious metal markets. In gold's usual quiet season, have we seen the Gold Price hit the low for the year? ...
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Gold falls 1 percent as Obama announces debt deal
Economic Times
Last week, rating agency Moody's put Spain on review for a possible downgrade, adding to concerns that a Greek rescue package has done little to halt the spread of Europe's debt crisis. US economic growth remains a concern. Data last week showed that ...
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Safran: Asia Not Cooling its Jets
Advanced Trading
According to Safran Chief Executive Jean-Paul Herteman, demand from emerging markets remains robust. And he played down any immediate impact from Europe's unfolding debt crisis. "The trend is still strong, including in Europe. ...
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Export demand weighs on emerging EU PMIs, Poland up
BusinessLIVE
Poland, the only European Union state to avoid contraction during the economic crisis, is also expecting growth to slow from 4.4 percent in the first quarter as its government begins to scale back investments and cut spending. ...
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Don't Get Drunk at the Debt Ceiling Deal After-Party
Seeking Alpha
... three day post-debt-ceiling bender, they're likely to turn their focus to the situation in Europe and begin to worry about recent developments. Of particular concern are the two big countries at the core of the euro zone crisis – Spain and Italy. ...
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HSBC cuts 30000 jobs worldwide
ABC Online
Rivals are also cutting jobs and shaking up business models as the euro zone debt crisis has hit fixed income trading revenues hard and tougher regulations are hurting returns. HSBC's return on equity improved to 12.3 per cent in the first half, ...
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A look at economic developments around the globe
The Associated Press
Demand for exports also weakened amid Europe's debt crisis and sluggish US growth. ___ BEIJING — Nearly 1000 cab drivers in eastern China blocked traffic and protested over a lack of government intervention into rising fuel costs. ...
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Currencies & Metals Outlook
Inside Futures
However, the euro has only been a minor beneficiary of the US debt ceiling debacle becauseEurope will also be hit hard if there is a US debt default and because the recent Eurozoneagreement on the EFSF and a second Greek bailout package has failed to ...
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London property prices edge higher
whathouse.co.uk
The report suggests that the euro-debt crisis that led to bailouts for Greece, Ireland and Portugal and now threatens other nations, such as Spain and Italy, has encouraged more Europeans to buy property in London, where there are a number of new homes ...
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Euro Debt Crisis - Cyprus Faces Imminent Bailout Threat: Bank of ...
Since the euro zone's sovereign debt crisis erupted last year, the EU and the International Monetary Fund have announced multi-year bailouts of Greece, Ireland and Portugal totaling 382 billion euros($550 billion). ...
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Eurozone Crisis Enters New Phase
By Joonatan Jakobs
Joonatan Jakobs is more optimistic about Europe's ability to emerge from its debt crisis but many uncertainties linger. ... a financial vehicle that was granted the power to intervene if a country in theeurozone is under financial duress. This “European IMF” may prove to avert the dangers of a self fulfilling crisis for the countries that are still deemed to be at risk. Positive news as this is, the foundation which this solution relies upon is fragile. ...
Atlantic Sentinel
Prevent the government as “old Lai” close to the U.S. bipartisan ...
By admin
Power across the Atlantic, according to Xinhua News Agency in Europe, which lasted half a sovereign debt crisis continues, and continue to set off new waves. Although the leaders of euro zonecountries ...
Finance online - Financial Advice|Fin...
'Gold could lose $30/oz if US debt crisis is ... - China Business News
By CBN
The ongoing debt crisis in the US and Europe has helped precious metals as investors seek refuge from uncertainties which may arise if peripheral economies in the euro zone or US default. Further downgrades are expected for European ...
China business news
“Europe plans its next crisis” « naked capitalism
By Yves Smith
Commentary on current economic and financial news. ... France is vulnerable to slowdowns in Spain and Italy, and its banks are exposed to debt in those countries. Other problems aren't directly of its making: the euro-zone crisis and the policy response to it. Each country that becomes affected simply reduces the number of options European government bond investors have, as well as increasing the strain on the strong countries that are on the hook to fund rescues. ...
naked capitalism
NewsDaily: Analysis: Asia dodges one debt bullet, plenty more in ...
By Emily Kaiser
NewsDaily: Your best source for breaking news ... A sovereign debt crisis in the West could spark a sudden withdrawal of that foreign money, much like it did after the Lehman Brothers bankruptcy in 2008. The debt deal that President Barack Obama announced in Washington on Sunday appeared to... Spain and Italy have paid much higher rates to sell their debt in recent weeks, feeding worries that the euro zone's debt troubles won't stop with Greece, Ireland and Portugal. ...
NewsDaily: Top Headlines
Azeem Ibrahim: Why Christine Lagarde Is the Wrong Choice for IMF ...
By Azeem Ibrahim
The Greek debt crisis will surely be on top of her agenda as she continues the bailout policies established by her predecessor. A consensus vote confirmed her candidacy following the ignominious departure of disgraced Dominique Strauss-Kahn ... The change in the Euro's foundation was necessary she said, and “we violated the rules because we wanted to close ranks and save theEurozone.” The rescues of Greece ($150 billion) Portugal ($120 billion) and Ireland ($130 billion) ...
FierceReason.com
XE.com - FACTBOX - New euro zone steps on debt crisis
Euro zone leaders agreed on Thursday to conduct a second bailout of Greece and on ... Home - Tools - News - FACTBOX - New euro zone steps on debt crisis ... The European Union said the private sector would contribute an estimated 50 ...
www.xe.com/news/2011-07-21%2021:50:00.../2045361.htm
Hong Kong Stock Market News | Stock Quotes & Finance News from ...
Get the latest Hong Kong stock market news, stock quotes, market trends and stories ... to have turned a corner with the announcement of another European Union bailout, ... euro-zone sovereigndebt crisis affect regional bond markets? ...
www.scmp.com/.../menuitem.2af62ecb329d3d7733492d9253...

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