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Aug 10, 2011

EUROZONE Debt Crisis News, Aug 10, 2011

Can the EU Save Itself From Economic Ruin?
The Atlantic
Europe's leaders are justifiably in crisis mode. But they are focusing exclusively on the debt crisisand the urgency of stabilizing the euro-zone. They should be paying at least as much attention to the growing disaffection with the EU on the European ...
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ECB Buys Bonds, Not Necessarily Time
Wall Street Journal
But the fact that it's buying bonds at all is indicative of how Europe's debt crisis is mutating. The ECB views buying distressed debt as a last resort, at best. Bond buying is outside the purview of what the central bank considers to be its central ...
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The real debt crisis: Europe's long goodbye
ABC Online
Echoing Neville Chamberlain's infamous "peace in our time" announcement, theEuropean Union (EU) on July 21, 2011 announced their plan to end the Europeandebt crisis. The deal includes a 109 billion euro second bailout for Greece, provided by the ...
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ABC Online
America vs Europe: Which is the bigger threat to the world economy?
TIME (blog)
Europe, on the other hand, is facing fundamental political and economic change if its debt crisis is to be truly resolved. It will take a level of political and economic integration the individual members of the euro zone have been unwilling so far to ...
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Eurozone states get moving after ECB, Fed moves
AFP
FRANKFURT — Urgent action on the eurozone debt crisis picked up Wednesday with emergency budget talks in Rome and Paris after the ECB laid down terms for shoring up Europe's single currency. A new round of stock market free-falls underscored fragile ...
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AFP
Shares plunge on euro zone debt crisis and recession fears
euronews
Fresh worries about Europe's debt problems drove the sell off, coupled with continuing fear of another global recession. France was the focus on rumours about trouble at French banks which hammered their shares. The finance ministry and the three major...
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euronews
'Eurobonds' anyone? Officials call for EU-wide fiscal policies to ease debt crisis
Christian Science Monitor
To help stem the crisis, a growing number of European officials are calling for a truly European Union-wide solution to the eurozone's woes. Even some euroskeptics now agree that the common currency needs to be supported by common fiscal policies that ...
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Pressure Mounting on Merkel
Wall Street Journal
Ms. Merkel is also feeling pressure from her euro-zone counterparts, many of whom want to see the EFSF increased in size to halt further contagion from the debt crisis. Ms. Merkel went along with herEU peers in allowing the EFSF to buy bonds in the ...
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Crisis pushes Norway central bank to rates climbdown
Reuters
Yet the euro-zone debt crisis and last week's downgrade of US sovereign debt have shaken a belief that Norway could ride out a renewed crisis on its oil cushion -- especially after Brent oil for September fell below $100 per barrel earlier this week ...
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Debt crisis: as it happened August 9, 2011
Telegraph.co.uk
16.30 Germany has called on all members of the 17-nation eurozone to amend their constitutions "as quickly as possible" to require a balanced budget in a bid to avoid a repeat of the bloc's sovereign debt crisis. Not sure how well that will go down ...
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Telegraph.co.uk
Euro Tumbles As Europe Debt Fears, Risk-Off Dominate
Wall Street Journal
NEW YORK (Dow Jones)--Concerns about Europe's debt crisis taking a turn for the worse hit theeuro hard Wednesday, and it fell sharply along with US stock benchmarks that serve as barometers of risk appetite. As fears about the global economy converged ...
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Debt crisis: share prices slump in response to France deficit
The Guardian
Photograph: Eric Feferberg/AFP/Getty Images Share prices in Europe and North America were back on the slide after France became the latest country to be sucked into the deepening debt crisis. Amid rumours that France would follow the US in being...
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The Guardian
Sarkozy breaks off holiday for emergency debt crisis meeting
Times of Oman
But the eurozone debt crisis continues, fuelled by fears that Spain or Italy might default on their debt and possibly spark a break-up of the currency shared by 17 countries. EU leaders are trying to implement a July 21 agreement aimed at beefing up ...
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Commerzbank Profit Drops 93% on Greek Debt
Bloomberg
Photographer: Hannelore Foerster/Bloomberg Commerzbank is the worst performer on Germany's benchmark DAX Index this year amid concern over the sovereign debt crisis and after selling shares to repay government funds. Commerzbank is the worst performer ...
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Debt crisis: Global stocks tumble – rumours of French downgrade
Irish Independent
World markets have been in turmoil for more than a week as investors feared that thedebt crises in the US and the eurozone would lead the global economy back into recession. Markets have become increasingly fearful about the world's biggest economy ...
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Irish Independent
EURO GOVT-Bunds jump as nervy investors shun risk
Reuters
US T-notes yielded 7 bps less than Bunds, having yielded 2 bps more than the German benchmarks at Tuesday's settlement, and whether the outperformance continues is likely to depend on developments in the euro zone debt crisis. ...
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Second GFC has become their debt to society
Sydney Morning Herald
In this global financial crisis Mark II, the sovereign debt crisis, things really are different. During GFC I, the debt lay in the hands of companies and people. It was the governments that bailed them out. Now we have GFC II, who will bail out the ...
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Sydney Morning Herald
CEE MARKETS 4-FX mixed, Hungary shares plunge on euro zone risks
Reuters
... escalating euro zone debt crisis. While currencies lost steam and shares fell, yields fell at government debt tenders in Poland and the Czech Republic, although demand for Czech paper -- viewed as among the safest in emerging Europe -- was muted. ...
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Biggest Trade in History to Accompany AAA Crisis: William Pesek
Bloomberg
The recent debt-ceiling deal in Washington begins siphoning money out of the US economy at a time when fiscal and monetary stimulus efforts are winding down. Europe, meanwhile, is wrestling with adebt crisis that seems to be spreading from the ...
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Economist: Mistrust of Berlusconi hampering eurozone deal
EurActiv
Euro leaders, including Germany's Angela Merkel and Mark Rutte of the Netherlands, attempt to explain the costs of the second rescue of Greece. The eurozone crisis will likely see the emergence of a new tax- and debt-raising authority in Brussels, ...
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Newspaper Briefing, including 'Trichet calls on EU leaders to implement crisis ...
Proactive Investors UK
Bet of the day: Spread-traders were selling the Euro against the dollar, deeming it still too strong in light of Europes deepening debt crisis. Although the European Central Bank had stepped in to buy Italian and Spanish bonds, punters declared that to ...
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Stocks Tumble on European Debt Fears (AAPL, BAC, BK, COF, DIS, GE, GLD, HBC ...
TradersHuddle.com
Financials were leading the declines amid euro zone debt crisis jitters and rumors over a possible downgrade of France's credit rating and the financial health of French banks. The Dow Jones Industrial Average was tumbling 446.49 points, or 3.97%. ...
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Market rout deepens global economic crisis
The News International
The downgrade heightened concerns that the twin-pronged crisis of a worsening euro-zone debt crisis and a faltering US economy raised the risks of a double-dip recession. The ECB swept into the bond market to buy up Italian and Spanish debt and sling a ...
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Fiat-to-Volkswagen Discounts Signaling Diminishing Sales: Cars
San Francisco Chronicle
10 (Bloomberg) -- Volkswagen AG, Fiat SpA and General Motors Co. are offering cheap financing and cash rebates to woo hesitant European customers as car demand shows signs of deteriorating because of the region's debt crisis. Doubts about the stability ...
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Poland urges eurozone to act fast on eurozone rescue pot
MSN Philippines News
EU president Poland on Wednesday urged eurozone nations to rapidly implement measures agreed at a eurozone summit in order to ease fears over the debt crisis as jitters caused markets inEurope and the US to plunge. "Today I asked prime ministers ...
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European Markets Boosted by US Rate Announcement
Voice of America
Watching Europe's debt crisis Some fear Italy and Spain, two of Europe's larger economies, could be heading in the same direction. Eurozone countries, led by Germany and France, have stepped in to help their ailing neighbors. And on Monday the European ...
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Bank cuts forecasts for UK growth
BBC News
Bank governor Mervyn King said Europe's debt crisis and fears of contraction in the US overshadowed the world economy. Mr King told a press conference that the UK economy had weakened since May, adding that inflation was still on course to hit 5% this ...
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BBC News
Wednesday's ETF To Watch: iShares MSCI Germany Index Fund (EWG)
Business Insider
While the situation remains poor in the United States, events aren't much better in Europe as the major powers on the continent cannot seem to agree on how best to proceed with the debt crisisplaguing some of the world's largest economies. ...
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Asset Allocations for a Fragile Market
Morningstar
The escalating euro area debt crisis, the US debt ceiling debacle, an S&P downgrade to US debt, a weaker than previously thought recovery and the resultant financial turmoil are likely to severely dent both business and consumer confidence. ...
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Cyprus prepares austerity package to fend off crisis
Reuters
Concerns that Cyprus could become the next euro zone country needing a bailout have been fanned by a severe energy crisis and warnings from the island's central bank and its largest lender that it must take action swiftly or risk bankruptcy. ...
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Political dysfunction fuels Italy financial crisis
The Associated Press
If borrowing costs cannot be contained, refinancing the debt could become too costly for Italy, risking default — a situation the euro zone desperately wants to avoid. Economists are concerned that austerity measures — which dampen growth — alone...
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The Associated Press
Slovak State Leader: Debt Rescue Turns European Union into Soviet Union
Novinite.com
Sulik's remarks came Tuesday in response to a call by Prime Minister Iveta Radicova Monday evening for greater action on the euro debt crisis, even though Radicova had herself been critical of the euro rescue schemes. "It is now no longer a matter of ...
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Novinite.com
Market Rally in US and Asia Starts to Falter in Europe
New York Times
“Thereafter, the ECB would resume the rate normalization process only if the sovereign debt crisisde-escalated,” he added. US crude oil futures for September delivery rose 3.4 percent to $82.03 a barrel. Comex December gold futures for rose 0.9 ...
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Out of weapons to fight recession
The Australian
How about the crisis in the eurozone and its spread from Greece, Ireland and Portugal to Italy and Spain? A break-up of the euro would be a terrifying upheaval for the world economy, but the European Central Bank's decision on Sunday to start buying ...
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Stability council suggested for euro zone
Irish Times
Berlin's approach to tackling the debt crisis is that members of the 17-nation currency bloc must implement their own reforms to boost competitiveness and cut debt rather than rely on EU-aid. Germany is opposing calls to expand the European Financial ...
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Bank stocks drop in London; miners drilled
MarketWatch
By Simon Kennedy, MarketWatch LONDON (MarketWatch) — Britain's benchmark stock index dropped more than 3% Wednesday, as banks came under heavy selling pressure amid renewed concerns over the euro-zone debt crisis. ...
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Downgrade to US credit adds to the fear in the markets
Al-Bawaba
... in dealing with the debt crisis. This was the first time the US has suffered a downgrade since it was given an AAA rating in 1917. Meanwhile the financial markets continue to pressure the Euro zone to find further solutions to their debt problems. ...
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Al-Bawaba
Global market weakness - investment update
Investor Today
There is no single catalyst, but investors are concerned about both the debt crisis in the euro zoneand the pace of economic growth around the world following a spate of weak economic data. Starting in the euro zone, bond market investors shifted ...
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Act now to save dying euro
Presseurop - English
Secondly, Europe will have to introduce measures to ensure that the market for eurozone sovereigndebt no longer resembles a clay pigeon shoot. One after another France's political leaders have solemnly announced that they found a miracle solution to ...
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Forex: The Swiss franc soared on Monday
FXstreet.com
European shares fell on Friday, and saw their biggest weekly decline in nearly three years, on worries about weak global growth and further contagion in the euro zone debt crisis, which threatens to engulf Italy and Spain. A bigger-than-expected rise ...
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Dilemma over dollar reserves
China Daily
In addition, the worsening of the eurozone sovereign debt crisis could easily lead to a further devaluation of the euro against the US dollar in the next one to two years. Finally, although shifting foreign reserves toward equities and commodities is a ...
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China Daily
GLOBAL MARKETS-World stocks wobble as Wall St readies to open
Reuters
The euro also fell on concerns about the euro zone's now broad-based debt crisis, despite the European Central Bank's move to ease some of the pressure by buying peripheral debt. Switzerland's central bank, meanwhile, said it was expanding measures to ...
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Greek calls for swift implementation of EU decisions to support eurozone
Xinhua
"This is the only way to secure monetary and financial stability across borders, sending a clear message that euro zone is ready and capable to support the common currency, as the international economic crisis deteriorates," Venizelos stressed in a ...
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Dow falls more than 400 points in morning trading
WXIA-TV
"In the long run, [volatility] is something we're going to have to get used to until we get two things answered: One is the once-and-for-all solution to the euro zone debt crisis and the other is political consensus in Washington," Art Hogan, ...
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Commerzbank warns earnings dependent on euro debt crisis | Best ...
By gdolenc
Commerzbank warns earnings dependent on euro debt crisis. By gdolenc On August 10, 2011 · Leave a Comment. Germany's second biggest bank, Commerzbank, warned Wednesday that its prospects this year and next depend on the eurozone debt ...
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Commerzbank profit hit by Greek holdings - Germany's news in English
Germany's second biggest bank, Commerzbank, warned Wednesday that its prospects this year and next depend on the eurozone debt crisis, which savaged its earnings and has rocked markets. ...Eurozone scrambles to calm investors. Germany and other world economic powers scrambled late on Sunday to shore up confidence in global financial markets with pledges to do whatever was necessary to protect the euro currency and stem the debt crisis. READ (5 COMMENTS) » · Photo: DPA ...
The Local - Germany's news in English
Analysis: Funding freeze fears return to haunt Europe's banks ...
By RSS Feed
Europe's banks are finding short-term financing harder to come by, while fears that the problem may intensify if euro zone policymakers dither has driven their shares sharply lower. ... Banks also took a hefty 50 billion euros in six-month cash this week, funding reintroduced by the ECB to ease the strains. Concern that a failure by politicians to get to grips with a debt crisis and the threat it could spread to Italy or Spain, could see the funding squeeze persist into ...
Clearing and Settlement — Clearing...
World War 2 was a Joke - Hedge Analyst | Hedge Analyst
By Francis Gilford
While shares continue to plunge amid mounting fears of the eurozone's spiralling debt, the EU has continued to adopt a cautious approach, with a spokesman for Prime Minister Lawrence Gonzi saying that so far, no meeting for EU heads of ... He decided on early elections ahead of a vote expected in March because of ramped up pressure on Spain due to the financial crisis. Zapatero has also said he wants a new administration in place to deal with Spain's troubled economy for ...
Hedge Analyst
Amid spreading euro crisis, France shifts into spotlight | www ...
By marketmaker
Exclusive: EU calls emergency meeting as debt crisis (Reuters). Reuters - European Council President Herman Van Rompuy has called an emergency meeting of top officials dealing with theeuro zone debt crisis for Monday morning, ...
Bullfax.com - Market News & Analysis
Debt crisis: Is this the end for the euro? | Phantis
And, with €9bn (£7.8bn) of eurozone government debt held in the bond markets, ... Last week theeuro hit crisis point. Silvio Berlusconi was forced into a ... Greece inspects island of the blind for chicane (Hurriyet Daily News: Aug. 3) ...
phantis.com/news/debt-crisis-end-euro


Insight: Extreme turmoil prompts shift from top central banks
Reuters
But it is clear the threat of a new systemic crisis has forced a change of tack, at least in the United States and Europe, where policymakers are again considering extraordinary measures four years after the onset of the global credit crunch. ...
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Reuters
Prevent a Greek tragedy
DailyNews.co.za (subscription)
What they do now recognise is that their fates are tied together and that the contagion could take theeuro zone into almost irreversible crisis. What is most striking is that both regions, the SADC and the EU, espouse principles of neighbourliness. ...
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The European Debt Crisis is Spreading - Forecasts & Trends ...
By Gary D. Halbert
Euro Zone Debt Crisis Getting Worse, Not Better. 4. Northern Europe Defending the Euro. 5. Spain & Italy – The Next to Go? 6. US & Global Stock Markets Collapse – Why? ** Note: Today's E-Letter is a little longer than usual due to all of the .... As it became clear in recent weeks that some kind of “selective default” was going to occur with Greece, that news created real turmoil in the European debt markets which sent rates on Spanish and Italian bonds to 14-year highs. ...
Forecasts & Trends
Insight: Equity analysts behind the curve...again - MAARS News
By Valkyries
“The whole sovereign debt crisis requires a knowledge of politics that, for most part, they don't have.” Economists polled by Reuters now believe the chances of another U.S. recession are rising andEurope's recovery is also at risk, ...
MAARS News
Debt crisis bites despite global leaders' efforts
... historic credit downgrade of the United States and the debt crisis in Europe. ... IHS GlobalInsight chief economist Howard Archer said the ECB was ...
www.google.com/.../ALeqM5j7qnIVV6zloR-l-I7C_ncFTTo1I...
Euro Zone Debt Crisis: ECB Intervention Necessary - CNBC.com
Euro Zone Debt Crisis: ECB Intervention Necessary ... Insight on whether it can help the economy, with Anthony Grisanti, GRZ Energy president. ...
classic.cnbc.com/id/15840232?video=3000037889&play...

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