Today: EUROZONE Crisis News, Oct 12, 2011

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Oct 12, 2011

EUROZONE Crisis News, Oct 12, 2011


At Center of Eurozone Crisis, One Woman and the Fight of Her Life
The Atlantic
By Heather Horn Perhaps the best way to understand the eurozone crisis, especially from a far-away place like the US, is to cut through the layers of economic explanations, coalition government definitions, andEuropean Union policy snarls to the ...
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The Atlantic
Eurozone crisis: Live blog
FT.com (blog)
15.25 Peter Spiegel in Brussels reports: José Manuel Barroso has just finished talking in the European Parliament, where he laid out a five-point plan for solving the eurozone's economic crisis, which included calls to finalise a second bail-out for ...
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FT.com (blog)
ECB Chief: Europe Is 'Epicenter' of Crisis
Wall Street Journal
By WILLIAM LAUNDER And TOM FAIRLESS FRANKFURT—European Central Bank President Jean-Claude Trichet warned Tuesday that the euro-zone crisis has "reached a systemic dimension" and said governments must swiftly push through fiscal reforms and coordinate ...
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Soros: Don't Let Faulty Euro Destroy Financial System
CNBC.com
Billionaire investor George Soros and 95 prominent politicians, business leaders and academics urged euro zone leaders to take swift action to resolve the crisis plaguing the region, calling for the creation of a euro zone treasury and stressing that ...
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Commodity Currencies Surge On Hopes For Euro-zone Debt Crisis Plan
Daily Markets
Also, at approximately 09:00 GMT, Eurogroup Chairman Jean-Claude Juncker released his ten step proposal for solving the Euro-zone crisis. Among such measures he outlined were: release the next tranche to Greece; outline possible bank recapitalizations; ...
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Juncker lists 10 steps to stem euro zone crisis
Reuters India
FRANKFURT (Reuters) - Eurogroup Chairman Jean-Claude Juncker has proposed ten steps for solving the euro zone crisis including automatic sanctions for fiscally irresponsible governments, greater authority for the Commission and a dividend for taxpayers ...
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Reuters India
EU Seeks Higher Bank Capital, Greek Payout in Crisis Fight
BusinessWeek
Barroso sought to put the commission, the EU's executive arm, at the center of rescue operations marked so far by discord between Germany, France, smaller euro-zonegovernments and the independent central bank. The latest country to make the crisis ...
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Backpackers' Guide to the eurozone crisis: Italy
BBC News
He thinks a further economic slowdown is likely and the logical solution to the eurozone crisis is further European integration. Mr Tronchetti Provera laughs as he says the euro is a "cage." "I think when we set up the euro, we entered into a cage and ...
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BBC News
Cavalier sales hit by euro-zone crisis, wool cost
MarketWatch
NZ) said Wednesday that its sales volumes were sharply down in the first quarter of its financial year due to the crisis in Europe and the high cost of wool. Cavalier said sales volumes of broadloom carpet and carpet tiles for the first quarter to Sept ...
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Secondary Sources: GOP Questions, Euro Zone Crisis, Distressed Housing
Wall Street Journal (blog)
–Euro Zone Crisis: Raghuram Rajan says fixing the euro zone crisis will be costly and the IMF may be able to help. “Indeed, the eurozone's problems might soon become too big for its members to address. The world has a stake in their resolution. ...
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BLANKLEY: European unity crumbling in debt crisis
Washington Times
The London Financial Times anchored its reporting with the exclusive comments of British Prime Minister David Cameron, explaining that he had urged European leaders “to take a 'big bazooka' approach to resolving the Eurozone crisis, warning they have ...
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Washington Times
First aid is not a cure
Financial Times
So should we feel confident that the crisis will soon be over? No. At least, nobody now sees the eurozone crisis as a little local difficulty. It has become the epicentre of an aftershock of the global financial crisis that could prove even more ...
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Euro zone debt crisis, yuan sow discord as G20 gathers
Economic Times
French President Nicolas Sarkozy and German Chancellor Angela Merkel have pledged to find a permanent solution before the Cannes summit to get the euro zone debtcrisis under control, but a decision to delay by a week an EU leaders summit to approve a ...
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Using EIB could be one option in EU bank crisis-Sweden
Reuters
Sweden is not in the euro zone but is worried about the effects of the debt crisis on financial markets and access for banks to market funding. It is also very dependent on exports. Finance Minister Anders Borg and Foreign Minister Carl Bildt said in ...
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Italian turmoil haunts euro zone before summit
Reuters
In the meantime, political turmoil in other euro zone members is feeding uncertainty over the bloc's crisis response, keeping investors on edge. "The market's trying to get ahead of the politicians doing something, and to my mind it's too early," ...
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Stock markets higher, EU announces new measures to fight debt crisis
CanadianBusiness.com
Markets have been buffeted by strong headwinds since early August arising from worries that a worsening European debt crisis could derail a fragile global economic recovery. Indexes have plunged sharply as investors also worry that European banks...
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BASE METALS: Comex Copper Rises On EU Bank Plan Optimism
Wall Street Journal
A better-than-expected reading on euro-zone industrial production data also lifted growth-sensitive metals. Metals are poised to move higher over the short term, "teeing off the better tone in the equity markets and cautious optimism that some sort of ...
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Eurozone Industrial Output in Surprise August Jump
ABC News
By PAN PYLAS AP Industrial production in the 17 euro countries unexpectedly rose during August, official figures showed Wednesday, easing concerns that the crisis-torneurozone was heading back into recession in the third quarter. ...
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ECB Stark: Poor Fiscal Policy, Imbalances At Root Of Crisis
Wall Street Journal
By Charles Duxbury RIGA (Dow Jones)--The debt crisis in the euro zone was caused by unsustainable fiscal policies and economic imbalances, which the existing framework of governance and policy coordination were unable to prevent, EuropeanCentral Bank ...
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EU Rehn: Action Needed To Solve Euro-Zone Debt Crisis
Wall Street Journal
DUBLIN (Dow Jones)--Europe's debt crisis is in a "dangerous situation" but actions will be taken on Greece and European Union banks, EU Economics Commissioner Olli Rehn said Wednesday. In a speech recorded from Brussels to the Irish Banking Federation, ...
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FTSE falls on euro zone bailout woes, growth concerns
Reuters
The parliament of tiny Slovakia -- the only country in the 17-member currency zone that has yet to approve the plan -- stalled the expansion of a bailout fund to rescue the euro zone from its debt crisis on Tuesday. Deutsche Bank said although there ...
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PRECIOUS METALS: Gold Range-Bound In Asia After Latest Euro-Zone Hurdle
Wall Street Journal
"Whatever solution is agreed within the euro zone to address the escalating debtcrisis, if it is biased towards creating more liquidity, gold should benefit," Credit Agricole analyst Robin Bhar said. MF Global analyst Tom Pawlicki said he expects gold ...
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OECD: Tests Needed on Sovereign Exposure
Wall Street Journal
French President Nicolas Sarkozy and German Chancellor Angela Merkel said Sunday they will deliver a comprehensive solution to the euro zone's debt crisis that will involve strengthening banks' capital and a solution for Greece. ...
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Russia's Putin says little role for BRICS in euro crisis
Reuters
By Gleb Bryanski BEIJING, Oct 11 (Reuters) - Russian Prime Minister Vladimir Putin said on Tuesday that the crisis-hit euro zone had enough resources to resolve its own troubles without support from Russia and fellow BRICs countries. ...
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France Won't Tap Rescue Fund to Shore Up Banks
Wall Street Journal
French President Nicolas Sarkozy and German Chancellor Angela Merkel said Sunday they will present a "comprehensive package" of measures against the crisis in euro-zone banking and government bonds by the end of this month but they gave few details. ...
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EU calls for banks to increase capital buffers
Seattle Post Intelligencer
Despite the Slovak parliament's "no" vote on expanded powers for the euro bailout fund, stock markets around the world and the euro have rallied over the past week amid expectations of a new EU crisis strategy. If European leaders fail to agree on such ...
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Opinions and News on the Eurozone Crisis, No - American Future
By Marc Schulman
Opinions and News on the Eurozone Crisis, No. 21 · Good Questions » ... It remained unclear whether any of that money might be drawn from the proposed euro zone bailout fund rather than directly from French government funds. The issue is ...
AMERICAN FUTURE
Juncker Lists 10 Steps to Stem Euro Zone Crisis — Clearing and ...
By RSS Feed
Euro group Chairman Jean-Claude Juncker has proposed ten steps for solving the euro zone crisis including automatic sanctions for fiscally irresponsible governments, greater authority for the Commission and a dividend for taxpayers who rescue banks. Euro bills at teller window. In an interview with German newspaper Handelsblatt published on Wednesday, Juncker also implied that a deeper debt reduction might be necessary for Greece. “If elements appear in the troika report ...
Clearing and Settlement — Clearing...
Eurozone crisis: Live blog | The World | International affairs blog ...
By John Aglionby
“SMER has always said 'yes' to EFSF, but we demanded that consequences be drawn from the Government's ineptitude,” the party's leader Robert Fico told a news conference in Bratislava. ... 15.25 Peter Spiegel in Brussels reports: José Manuel Barroso has just finished talking in the European Parliament, where he laid out a five-point plan for solving the eurozone's economic crisis, which included calls to finalise a second bail-out for Greece; shore up Europe's banks; and increase ...
The World
A Standby Program for the Eurozone - Raghuram Rajan - Project ...
By Raghuram Rajan
CHICAGO – How will the eurozone crisis play out in the next few weeks? ... And, third, Greece, now the sickest man of Europe, must be treated in a way that does not spread the infection to the other countries on the eurozone's periphery. ...
Project Syndicate
ECB's Stark: Addressing euro zone crisis requires major ...
ECB's Stark: Addressing euro zone crisis requires major strengthening of economic governance. By Gerry Davies || October 12, 2011 at 07:32 GMT. || 0 comments || Add comment. European governance reforms step in right direction, but short ...
ForexLive
EUROZONE CRISIS: Here's What's Next
By Simone Foxman
Money Game Home · Economy · Markets · Investing · ETFs · Hive · Tape · PR · Contributors. Follow us on Facebook and get updates from Money Game posted directly to your news feed ... With bank recapitalization rumors more than just hearsay , the European Financial Stability Facility nearing ratification, and Greece on the verge of a bailout, the eurozone crisis seems to be nearing an end. It will be a busy month for eurozone leaders, with European Council and G-20 meetings ahead ...
Clusterstock
Sterling drops on continuing confidence in Europe | PureFX
By purefx
he pound has dropped against a basket of currencies - as the markets still continue to support Franco-German reports that a solution to the Eurozone debt crisis will soon be forthcoming. ... Good news once again for people planning to send money to the UK! The pound ... The pound has dipped against currencies including the euro, on continuing reports that German and French premiers Merkel and Sarkoz plan to unveil a solution to the Eurozone debt crisis before November 3rd. ...
PureFX
Asian stocks down as eurozone crisis ... - San Francisco Examiner
By The Associated Press
Asian stocks rose Wednesday as investors hoped for good news from corporate earnings reports due soon in the U.S, while European shares fell after Slovakia's rejection of more financial firepower for the region's bailout fund. Oil prices fell to ...
Examiner AP RSS
Juncker lists 10 steps to stem euro zone crisis (Reuters) | www ...
By marketmaker
Juncker lists 10 steps to stem euro zone crisis (Reuters). Wed, 10/12/2011 - 03:44 EDT story from Yahoo! News: Business News in. Business · YahooBizNews. Reuters -Eurogroup Chairman Jean-Claude Juncker has proposed ten steps for ...
Bullfax.com - Market News & Analysis
XE.com - Euro Smashes Through Critical Short-Term Resistance ...
News Providers: Thompson Financial, AP, XFN-Asia, Daily FX, Reuters Date format: yyyy-mm-dd. Refresh Articles. Euro ... Recent consolidation broken; positive for risk correlated assets; Market participants feeling better about official response to eurozone crisis; Technical break opens the door for 2-3% decline in the buck over the coming sessions; Look to re-establish broad based long USD positions on a Euro test of 1.4000. Markets are off to the races on Wednesday and the ...
XE Forex News
Global economic worries - Stabroek News - Guyana
By Stabroek staff
Earlier this month US Secretary of State Hillary Clinton expressed concern at the dilatory manner in which the eurozone crisis was being handled. At the end of last month the new chief of the IMF, the former French ... It has been well recognized in the EU that the task has fallen to Germany, the leading economy in the area, to take on extra responsibilities and commitments for finding a solution to the eurozone'sproblems. This is so particularly in respect of making extra financial ...
Stabroek News
Merkel predicts bailout ratification - The Local
German Chancellor Angela Merkel predicted Wednesday a eurozone bailout fund would be ratified this month despite rejection by Slovakia, and said all of Europe must help fight the crisis. ... The Local: Germany's news in English. Photo: Volvo ... Only 55 of 124 Slovakian legislators present in the 150-member chamber voted in favour, while nine were against and 60 did not vote, effectively blocking the revamp of the eurozone's €440 billion ($600 billion) bailout fund. The vote also ...
The Local - Germany's news in English
John Major: We can use eurozone debt crisis to grab powers back ...
His intervention piles further pressure on David Cameron to use the crisis in theeurozone to demand powers back from the European Union. The former premier ...
www.dailymail.co.uk/.../John-Major-We-use-eurozone-debt-cr...
The Hindu : Business News : Asian stocks down as euro-zone crisis ...
The move sent markets south as worries intensified that a failure by Europe to contain its debt crisis could lead to a massive debt default by the Greek ...
www.thehindu.com/business/article2530512.ece
Euro zone crisis adds to risk for real estate investors | Europe | News
'The sovereign debt crisis in the euro zone has driven up banking risk and corporate risk, creating an environment characterized by high risk aversion, abundant ...
www.propertywire.com/.../europe-crisis-property-investors-20...
BBC News - Eurozone crisis: Merkel and Sarkozy 'agree key changes'
The leaders discussed how best to resolve the eurozone debt crisis ... Paris is believed to want to use the eurozone's bailout fund - the European Financial ...
www.bbc.co.uk/news/world-europe-15226953
At Center of Eurozone Crisis, One Woman and the Fight of Her Life
Because Germany is the keystone in the European arch at present -- how it responds to the growing eurozone financial crisis will determine much of the ...
www.theatlantic.com/international/archive/.../246478/
UK PM Discussed Euro-Zone Crisis With Obama Monday-Osborne
"There is no doubt a solution to the euro zone crisis is urgently needed. It would provide the greatest boost available to the British economy this autumn," ...
online.wsj.com/article/BT-CO-20111010-708571.html
Eurozone crisis: Live blog
The future of the euro could hang on a vote in the parliament of Slovakia today. That's what the eurozone crisis has come down to. ...
blogs.ft.com/the-world/2011/10/35756/?ftcamp=rss
Euro crisis spreads and puts the world economy at risk | World news ...
But with every passing day, the markets' expectations about the eurozone's ability to fix the crisis rise by another notch, and the price of failure increases. Few in ...
www.guardian.co.uk/world/.../g20-finance-ministers-euro-crisi...
Euro zone crisis adds to risk for real estate investors
Real estate investors in the euro zone should be demanding higher risk premiums to reflect the ... due to the sovereign debt crisis, even though a widespread break up is unlikely, according to analysts. ... Business News l Skip to Main Content ...
www.ibtimes.com/.../euro-zone-crisis-adds-to-risk-for-real-esta...
'European Central Bank should bailout EU states directly' — RT
There should be drastic changes in how and by whom the EU's economic problems are dealt with, economy experts told RT.
rt.com/news/eu-economy-crisis-solution-829/
Euro zone crisis behind market volatility - The Economic Times
Financial Times. News Stock Quote ... The current Euro zone crisis threatens to impact economies of even nations with a robust domestic growth. The severe ...
economictimes.indiatimes.com/features/.../10284983.cms
EU delays summit to finalise crisis plans - RTÉ News
German Chancellor Angela Merkel and French President Nicolas Sarkozy vowed over the weekend a response to the euro zone debt crisis within weeks, ...
www.rte.ie/news/2011/1010/eurozone-business.html

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