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Nov 1, 2011

GREECE Today, Nov 01, 2011

Turmoil in Greece vexes Wall Street
CBS News
(AP Photo/Richard Drew) NEW YORK - A wave of selling is sweeping across Wall Street and stock markets around the world after Greece's prime minister said he would call a national vote on an unpopular European plan to rescue that nation's economy. ...
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Italy Buffeted by Greece News
Wall Street Journal
By CHRISTOPHER EMSDEN ROME—Faced with sharp jumps in its sovereign borrowing costs, Italy's government on Tuesday promised "rapidity" in its actions to shore up the euro zone's most sluggish economy. But Prime Minister Silvio Berlusconi took another ...
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* Gold eases as Greece, MF Global boost dollar
Reuters
"Greece has caused even more confusion by calling for a referendum and we can't ignore the washout from the MF Global story because their positions are being unwound," said Credit Agricole analyst Robin Bhar. He added that the Bank of Japan's decision ...
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BASE METALS: Copper Falls As Greece Vote Plan Rattles Markets
Wall Street Journal
Debt-laden Greece has embarked upon a series of deep spending cuts as a condition of receiving financial support from the EU and IMF, raising the ire of some citizens and making Papandreou's socialist government increasingly unpopular. ...
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Donovan Says Greece Referendum Makes Sense Politically
Washington Post
Nov. 1 (Bloomberg) -- Paul Donovan, managing director, global economics at UBS AG, discusses the Greek referendum on Europe's bailout and the outlook for the global economy. Donovan speaks with Francine Lacqua on Bloomberg Television's "The Pulse....
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Draghi's Day One at ECB Blighted as Greece Faces Referendum
BusinessWeek
“The Greek move makes it all the more important that Italian and euro-zone policy makers, including those from the ECB, build a reliable firewall around Greece to prevent more serious contagion to Italy.” The ECB was said by people with knowledge of ...
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Greece Can Make More Money With A Flop Than With A Hit
Seeking Alpha
It turned Greece into Germany. The problem is that, unlike with real insurance, there's not much capital behind a CDS. It's insurance jargon without insurance discipline. Insurance discipline works like this. For every dollar in insurance that's ...
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Yoshikami: Greece - Give an Inch Take a Mile
CNBC.com (blog)
After Greece entered the European Union under likely false pretenses about their financial condition, and after the European Union has obsessed for months trying to find an orderly solution to the massive debt issues of Greece, Greek leadership now ...
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Stock Futures Slide on Greece Default Concerns
TheStreet.com
By Melinda Peer 11/01/11 - 08:29 AM EDT NEW YORK (TheStreet) -- Stock futures were pointing to a steeply lower open Tuesday, extending the previous session's losses, as Greece's call for a referendum on its eurozone bailout package reignited fresh ...
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TheStreet.com
Stock markets tumble after Greece stuns investors with referendum plan
CanadianBusiness.com
THE CANADIAN PRESS/Aaron Vincent Elkaim TORONTO - The Toronto stock market was sharply lower Tuesday after Greece's decision to hold a referendum on its latest rescue package stunned investors and sent shockwaves of uncertainty through global markets. ...
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Komercni Banka Leads Czech Stock Rout on Greece Referendum Risk
BusinessWeek
Global stocks sank as investors bought German bunds after Greece announced a referendum on Europe's latest bailout plans, threatening to send the nation into default if voters reject the deal. Komercni, which reported a 1.66 billion-koruna ($91 ...
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Greece: The Most Powerful Country in the World
CNBC.com
Greece has an ancient and noble tradition of defaulting. And, arguably, the other European nations have even more to lose than Greece through a default. So Merryn Somerset Webb's remarks at Money Week strike me as very much correct: Greece has all the ...
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CNBC.com
Greece police/fire blotter, Oct. 31
Greece Post
The Monroe County Emergency Communication Department received a report of an accident of motor vehicles involving unknown injury at 1250 W. Ridge Road, Greece, on Monday at 10:54 am At the time of the report, the Greece Police Department was on the ...
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European Factors-Shares set to fall on Greece worries
Reuters
LONDON, Nov 1 (Reuters) - European shares were set to fall sharply on Tuesday, on renewed worries about the euro zone debt crisis after Greece's prime minister called a referendum on the latest bailout deal. The fall for European shares would add to ...
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Greece referendum on bailout plan means euro crisis enters critical phase
The Guardian
There isn't the remotest chance of Greece's austerity measures working Protesters on the streets of Athens this month. Photograph: Petros Giannakouris/AP Predictably, there was panic. The shares that rose last week on hopes there was light at the end ...
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The Guardian
US stocks tumble on Greece, China worries
AFP
NEW YORK — US stocks slid Tuesday after Greece unexpectedly called a referendum on its EU bailout program and Chinese manufacturing data signaled a global economic slowdown. The blue-chip Dow Jones Industrial Average lost 194.16 points (1.62 percent) ...
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AFP
Rand Slumps Most in 5 Weeks as Greece Rekindles Default Concerns
BusinessWeek
Papandreou's call for a referendum and a parliamentary confidence vote raised the prospect of derailing the European bailout effort and pushing Greece into default. An opinion poll published Oct. 29 showed most Greeks believe the accord on a new ...
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Bond Risk Surges as Greece Triggers Disorderly Default Concerns
BusinessWeek
1 (Bloomberg) -- The cost of insuring against default on European sovereign debt surged the most in almost four months on concern a referendum on Greece's bailout package may push the country into a disorderly default. The Markit iTraxx SovX Western ...
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Greece risks meltdown after bailout vote bombshell
Buenos Aires Herald
Caught unawares by his high-stakes gamble, the leaders of France and Germany summoned Papandreou to crisis talks in Cannes on Wednesday to push for a quick implementation of Greece's new bailout deal ahead of a summit of the G20 major world economies. ...
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Greece property tax rate would drop slightly under proposed town budget
Rochester Democrat and Chronicle
Greece's property tax rate would drop about 1 percent next year, under the town's tentative budget for 2012. But, under the $55.6 million plan, fees for the town's drainage, lighting and sanitary sewer districts would rise. ...
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Forget Greece, What About The Rest Of The EU? (AMEX:DIA) (AMEX:DDM) (AMEX:DXD ...
Inthemoneystocks.com (blog)
It still amazes me that Greece is treated like the boy that cried wolf. Every little word out of that country and the markets react. Well, I have news for you, there are bigger problems than Greece in the European Union. The US Dollar Index futures (DX ...
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Greece woman accused of injuring baby now out of jail
News 10NBC
A babysitter in Greece accused of causing serious brain injuries to a six-month-old baby is now out of jail. Tina Sardisco, 29, is charged with reckless assault. She pleaded not guilty today. The judge released Sardisco so she could be home to take ...
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News 10NBC
Greece reshuffles military chief amid crisis
Sydney Morning Herald
Greece on Tuesday reshuffled its military chiefs amid a political crisis that could see a government downfall following a controversial decision to put an EU debt rescue deal to a referendum. A state security council under Prime Minister George ...
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Greece's austerity measures
The Guardian
Photograph: John Kolesidis/Reuters • Balancing Greece's budget by 2014. In 2010 Greek state spending was 12% higher than revenues. • Putting 30000 civil servants on 12 months' notice with a 60% pay cut and extending to 2014 a move to replace only one ...
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The Guardian
Greece Holds Euro Deal Hostage
Daily Markets
This announcement has overtaken last week's deal and effectively ensures that global markets will remain hostage to electioneering in Greece at least through January, which is the earliest that a referendum could take place. ...
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What if Greece says no? | Investing | Financial Post
Default, bankruptcy, ejection from the euro? And how will that impact the global economy? Here is the chain of events Greece's bailout referendum could unleash.
FP Top Stories List
Greece Finally Rebels | Mother Jones
By Kevin Drum
This in turn would mean that Greece has simply reached the end of its austerity rope, unwilling to cut any further in order to appease the French and Germans. Britain's shadow chancellor seems to have poured a bit of fuel on the fire, ...
MoJo Blogs and Articles | Mother Jones
Greece | The Big Picture
By Barry Ritholtz
GREEK GOVERNMENT SPOKESMAN TOLKAS SAYS REFERENDUM TO GO AHEAD.
The Big Picture
Greece referendum threatens new eurozone crisis - Business - Mail ...
George Papandreou's shock announcement that he will put Greece's bailout to a referendum has threatened to intensify the eurozone crisis.
Mail & Guardian News Feed
Balloon Juice » Greece Melting Down
By John Cole
The Greek government was plunged into chaos on Tuesday and faced an imminent collapse, as lawmakers rebelled against Prime Minister George Papandreou's surprise call for a popular referendum on a new debt deal with Greece's foreign ...
Balloon Juice
Greece announces a euro referendum – hark what discord follows ...
By Daniel Hannan
caption id="attachment_100114619" align="alignnone" width="460" caption="Just say Όχι"][/caption] I wish I could convey the sheer writhing horror that George Papanderou's referendum proposal has provoked in Brussels. Eurocrats ...
News
Greece: When the Crisis Hit the Fan · Global Voices
By Filip Stojanovski
Greece. Freelance journalist Kostas Kallergis started a blog in English about the Greek crisis, documenting on a daily basis various “small things that usually go unreported in the international press,” from graffiti in the streets of Athens to ...
Global Voices
Why is Greece turning down the “bailout” — Marginal Revolution
By Tyler Cowen
Make no mistake about it, the decision to hold a “referendum” is a decision to turn down the deal altogether. The referendum will never be held. It is scheduled for January and the current deal, which is not even a.
Marginal Revolution
Calculated Risk: Greece Update
By CalculatedRisk
A "yes" vote in the referendum could deflate the massive street protests and strikes that threaten to paralyze Greece as it tries to enact a brutal austerity program to earn rescue loans from the euro zone and the International Monetary Fund. ...
Calculated Risk
Greece: Dramatic Political Developments – Live Blogging | Keep ...
By keeptalkinggreece
The atmosphere within Greece's governing party PASOK seems to be extremeley thick and Ministers come now and openly oppose the referendum or distance themselves after the fierce reactions by opposition parties and public. It looks as if ...
Keep Talking Greece
Europe Markets Drop on News of Greek Referendum - NYTimes.com
Lawmakers rebelled against Prime Minister George Papandreou's surprise call for a popular referendum on a new debt deal to lenders, raising fears that Greece ...
www.nytimes.com/.../markets-tumble-as-greece-plans-referend...
WRAPUP 4-Greece risks meltdown after bailout vote bombshell ...
PM under fire over referendum call on bailout* Papandreou to meet French, German, EU leaders in Cannes* EU partners surprised, angry* Polls show most ...
www.reuters.com/.../greece-referendum-idUSL5E7M1087201...
Greece throws euro bailout into fresh crisis | Business | The Guardian
Prime minister stuns fellow leaders with proposal that his country should hold referendum on landmark debt deal.
www.guardian.co.uk/world/.../greece-euro-bailout-fresh-crisis...
Greece hurls a curveball at EU debt deal - CBS News
PM Papandreou announces national referendum on hard-fought European agreement, jeopardizing crisis plans and rattling markets.
www.cbsnews.com/.../greece-hurls-a-curveball-at-eu-debt-deal...
BBC News - Greece's Papandreou in crisis talks over bailout revolt
Greece PM George Papandreou chairs emergency talks after the turmoil triggered by his announcement of a referendum on the proposed EU bailout.
www.bbc.co.uk/news/world-europe-15538809
Greece to hold referendum on EU debt deal - Telegraph
Greece is to hold a referendum on whether to accept the rescue package from the European Commission, European Central Bank and International Monetary ...
www.telegraph.co.uk/.../Greece-to-hold-referendum-on-EU-d...
Greece to hold referendum on new debt deal - Business - CBC News
Taking a huge political gamble, Greece's prime minister announced Monday that his debt-strapped country will hold a referendum on the new European debt ...
www.cbc.ca/news/.../greek-referendum-eu-imf-bailout.html
Greece calls referendum on EU bail-out - FT.com
Greece's prime minister unexpectedly announced a referendum to approve a second EU bail-out deal for his austerity-hit country, less than a week after it was ...
www.ft.com/.../68748490-03f5-11e1-98bc-00144feabdc0.ht...
Debt plan for Greece to fall hardest on locals - The Washington Post
The expected 50 percent write-down in the country's bonds may wipe out a banking system that invested heavily in the local government.
www.washingtonpost.com/.../gIQADU8LaM_story.html
Euro zone leaders strike deal on Greece | Stuff.co.nz
Under the deal, the private sector agreed to voluntarily accept a nominal 50 per cent cut in its bond investments to reduce Greece's debt burden by 100 billion ...
www.stuff.co.nz/.../Euro-zone-leaders-strike-deal-on-Greece

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