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Dec 19, 2011

EUROZONE Crisis News, Dec 19, 2011

EU Ministers Seek Crisis IMF Funding as Confidence Wanes
BusinessWeek
By Patrick Donahue and Stephanie Bodoni (Updates with EU spokesman statement in eighth paragraph. See EXT4 for more on Europe's debt crisis.) Dec. 19 (Bloomberg) -- European finance ministers sought to meet a self-imposed deadline for drawing ...
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No Christmas let-up as EU battles to save euro
Reuters
"I think my wife wants this debt crisis resolved more than Angela Merkel does," said another diplomat, referring to the German chancellor. With no clarity on howeuro zone leaders will find a way out of the crisis, EU officials say it is crucial they...
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Funds edge back into euro zone peripheral debt
Reuters
Managers are still unconvinced policymakers are much closer to finding a resolution to the debt crisis after the Dec. 9 summit, where EU leaders also agreed to lend more to the International Monetary Fund to help it aid euro zonestrugglers. ...
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Euro Weakens as Finance Ministers Tackle Deadline; Yen, Won Fall
BusinessWeek
19 (Bloomberg) -- The euro fell for the first time in three days against the dollar asEuropean finance ministers attempt to meet a self-imposed deadline for funding from the International Monetary Fund to address the region's debt crisis. ...
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Euro fallout cuts superannuation returns
Herald Sun
Capital punishment: Superannuation nest eggs have been knocked around by theeurozone's debt crises. Source: Supplied SUPERANNUATION funds are poised to post their worst annual performance since the height of the financial crisis in 2008 as the ...
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Euro Holds Above $1.30 As Sovereign Debt Crisis Lingers
RTT News
Heavy selling pressure drove the euro to its lowest in eleven months versus the dollar last week, but traders are now waiting for further developments in Europe, where finance ministers are set to discuss the region's sovereign debt crisis. ...
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RTT News
Ex-IMF Strauss-Kahn: Euro Collapse No Solution To Debt Crisis
Wall Street Journal
BEIJING (Dow Jones)--A collapse of the euro zone wouldn't solve Europe's sovereign debt crisis, and the Continent's banks must be recapitalized, former International Monetary Fund managing director Dominique Strauss-Kahn said Monday. ...
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HK Dollar Down Late On Concerns Over Euro-Zone Debt Crisis
Wall Street Journal
The euro-zone debt crisis remains a major focus," said a trader at a Singaporean bank. Fitch Ratings placed its ratings on six euro-zone nations including Spain and Italy on watch for downgrade after it concluded a "comprehensive solution" to the ...
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TSX Flat Amid Euro Zone Anxiety; RuggedCom Soars On Offer - Canadian Commentary
NASDAQ
The euro zone finance ministers are set to hold a conference call later today to discuss on additional financial aid to mitigate the impact of the debt crisis. Fitch Ratings on Friday cut its outlook on France and said it might downgrade the ratings of ...
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FEATURE-Markets may play jilted lover in euro zone drama
Reuters
By Ethan Bilby LONDON Dec 19 (Reuters) - The euro zone debt crisis may be as much about the heart as it is about the head -- like a jilted lover, markets are just finding it hard to trust again. Behavioural economists say financial bubbles can create ...
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UK investors bolt for cash as crisis continues
Reuters UK
While 2011 has seen an unprecedented succession of financial, economic and political shocks, from the Arab Spring, to the Japanese tsunami and the escalatingeuro zone debt crisis, many investors hold scant hope that 2012 will be much calmer. ...
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EasyJet CEO says no hit from euro zone crisis-paper
Reuters
L) has felt no impact on its business from the ongoing debt crisis in the euro zone, its chief executive told a German newspaper. Asked whether the company had felt any fallout, Carolyn McCall told Welt am Sonntag: "So far we haven't. ...
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Regulators in denial over legalities of EU treaty
Euromoney Magazine
Earlier this month France's president, Nicolas Sarkozy, and Germany's chancellor, Angela Merkel, unveiled a treaty that would affect all 27 EU member states in a bid to tackle the eurozone's sovereign debt crisis and seek to stop a break-up of the...
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UK, Germany try to heal wounds left by EU treaty veto
Reuters
By Adrian Croft LONDON (Reuters) - German Foreign Minister Guido Westerwelle meets British ministers on Monday for talks on the euro zone debt crisis and world trouble spots, in a sign both powers want to heal the wounds opened by Britain's veto of a ...
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EU finance ministers to discuss new treaty, IMF loans in effort to boost ...
CanadianBusiness.com
By Gabriele Steinhauser, AP | December 19, 2011 BRUSSELS - Europeanministers will try to come up with €200 billion ($261 billion) in new loans to the International Monetary Fund on Monday to boost a firewall against the debt crisisand make up for ...
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New Spanish leader pledges deep crisis cuts
Reuters
Spain is sliding into recession, but must meet harsh European austerity demands as the euro zone debt crisis widens. In his first speech to the country's new Parliament, Rajoy said budget stability, a costly fresh round of bank consolidations and ...
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Brent falls below $103 as euro zone debt weighs
Economic Times
Market participants will look to a teleconference of euro zone finance ministers later on Monday for further clarity on plans to deal with the region's sovereign debt crisis. Brent crude fell 46 cents to $102.89 a barrel by 0219 GMT, ...
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Markets Unprepared for Euro Zone Default, JPMorgan's Staley Says
Bloomberg
s investment-banking unit, talks about the European sovereign debt crisis and the firm's business strategy. Staley, speaking with Erik Schatztker and Stephanie Ruhle on Bloomberg Television's "InsideTrack," also discusses the impact of financial ...
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Bloomberg
European crisis a risk for all nations: IMF chief
Economic Times
European Union finance ministers raced against the clock on Monday to meet a self-imposed deadline to raise 200 billion euros ($260 billion) for new eurozonebailout funding. The target figure and a 10-day deadline to deliver the cash pledges to the ...
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The euro zone impacts global economic growth, according to Desjardins Group...
DigitalJournal.com (press release)
19, 2011 /CNW Telbec/ - According to the Desjardins Group Economic Studies team, the sovereign debt crisis in the euro zone worsened until it eclipsed all other large financial, economic and political problems elsewhere in the world. ...
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Bundesbank: German economy faces 'lean' winter
MarketWatch
By Tom Fairless FRANKFURT (MarketWatch) -- Germany's economy faces a "lean period" in the winter months as the euro zone's ongoing debt crisis weighs on exports, Germany's central bank warned Monday. Economic growth is likely to slow "noticeably" in ...
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Russia Stocks Retreat on European Debt Crisis, Kim Jong Il Death
BusinessWeek
Euro area finance ministers are seeking to meet a self-imposed deadline for drawing additional aid to the debt crisis through the International Monetary Fund and put together new budget rules. France is set to sell as much as 7 billion euros($9.1 ...
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Canada's Flaherty says Europe hasn't done enough
Reuters
Flaherty's comments came after ratings agency Fitch warned late on Friday that a comprehensive solution to the euro zone debt crisis is beyond the region's reach and some of its biggest economies could be hit with credit downgrades in the near future. ...
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Namibia not immune to eurozone crisis: BoN
Namibian
Namibia's Achilles heel may be its trade links to the eurozone, though. According to the BoN, the economic effects of the crisishave already started to effect the domestic economy. “The main effect in this regard has been the weakening of the euro in ...
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Namibian
Retailers rocked as debt crisis spreads
The Australian
Amid talk of more credit downgrades for eurozone countries, there was a scheduled overnight meeting for European finance ministers to flesh out plans made at a Brussels summit earlier this month to save the common currency. THE negative sentiment in ...
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Eurozone looks to assure markets over debt crisis ... - Financial Post
The eurozone will pursue measures to tackle its sovereign debt crisis this week by offering more cash to the IMF and long-term liquidity to banks, while moving towards tighter fiscal rules, after ratings agency Fitch cast doubt on it ability to ...Leaders will decide in March if the combined lending capacity of the temporary fund, the 440 billion euro European Financial Stability Facility (EFSF), and the ESM, should be capped at 500 billion, or raised by the amount already spent by the EFSF. ...
FP Top Stories List
Opinions and News on the Eurozone Crisis, No. - American Future
By Marc Schulman
Leading the list is an edited transcript of an interview between Mario Draghi,European Central Bank president, and Lionel Barber, Financial Times editor, and Ralph Atkins, Frankfurt bureau chief. For those without the time or inclination to wade their ... The recently-announced three-year refinancing operations will “not necessarily” give banks an incentive to buy the sovereign debt of the financially-troubled eurozone governments. The objective of the operations is “to ease the funding ...
AMERICAN FUTURE
The Infinite-Planet Approach Won't Solve the European Debt Crisis ...
By Eric Zencey
Even without the UK, the measures that the Eurozone nations have announced may restore investor confidence, but one thing is certain: they shouldn't, because they'll fail miserably at staving off future financial crisis. That's because “restoring ...
Sustainability Articles | Green...
Fitch may downgrade France, Spain, 5 others over eurozone crisis ...
Fitch's warning, which comes as investors fear an imminent downgrade of France, Germany and several other eurozone countries by rival Standard & Poor's, dragged US stocks and the euro lower. Reuters. For the other countries – Belgium, Cyprus,... EU leaders last Friday secured a historic agreement to draft a new treaty for deeper economic integration in the eurozone, but more decisive measures to stem the debt crisis remained uncertain. A new treaty could take three months to ...
Firstpost
Forex – Dollar Holds Gains On Kim Jong Il Death, Euro Zone Woes
By Forexpros
Forexpros – The U.S. dollar remained higher against its major counterparts on Monday, supported by safe haven demand following news of the death of North Korean leader Kim Jong il while ongoing concerns over the euro zone debt crisis ...
DailyMarkets.com
EU Finance Ministers Seek Additional €200 Billion in IMF Crisis ...
By info@wallstcheatsheet.com (Damien Hoffman)
European finance ministers will today discuss the mechanics of a so-called fiscal compact for tighter budget rules while seeking to meet a self-imposed deadline for the drawing of additional aid to the debt crisis.
Wall St. Cheat Sheet
Euro ministers to hold fresh talks on debt | Pakistan Business News ...
By AFP
BRUSSELS – Eurozone finance ministers will hold talks on the debt crisis on Monday to flesh out plans made at a Brussels summit this month to save theEuropean currency. With several eurozone nations under threat of credit rating ...
Pakistan Business News | Pakistan...
Can Italy survive the Financial Storm?
By Daniel Gros
The firepower of the European Financial Stability Facility (EFSF) would not be sufficient to safeguard Italy, even if the IMF were to provide a couple of hundreds of billions of additional funding. ... Investors in times of crisis. Experience has shown the importance of a domestic investor base in times of crisis. During the 1990s the interest burden for the government was much higher. But this was sustainable because most of the debt was held by residents (the famous 'BOT people'). ...
Social Europe Journal
XE.com - WRAPUP 5-Euro zone pursues IMF lending plan, Draghi ...
European finance ministers discussed ways of boosting IMF resources to build a better firewall against the debt crisis on Monday, while also assessing plans for tighter euro zone fiscal rules that they hope will prevent the problems from worsening.
XE Forex News
Asian Shares Slip on Euro Fears, Kim's Death | Biz Daily
By Admin
Source: AFP Asian shares fell Monday with Europe's debt crisis hitting sentiment, while news that North Korean leader Kim Jong-Il had died. ... Deputy FinanceMinister Choi Jong-Ku said authorities in Seoul would monitor financial markets. The US dollar jumped to KRW1 ... On Friday, Moody's Investors Service cut Belgium's credit rating by two notches, citing tough conditions for in-debt Europeancountries to borrow with little chance of a quick end to the eurozone crisis. The agency ...
Biz Daily
EU treaty and debt crisis: as it happened December 9, 2011 ...
Log on to our financial crisis page for news and analysis over the weekend. .....the crisis facing the euro zone and strengthening the global economic recovery"....
www.telegraph.co.uk/.../EU-treaty-and-debt-crisis-as-it-happe...
Everything you wanted to know about the euro crisis (but were afraid ...
Bamboozled by eurozone debt crisis jargon? CNN is here to help you tell ... TheEuropean Financial Stability Facility (EFSF) is Europe's temporary bailout fund....
edition.cnn.com/2011/12/07/business/europe.../index.html
Eurozone to push on with crisis steps, Fitch doubts outcome ...
The euro zone will pursue measures to tackle its sovereign debt crisis this week... Euro zone finance ministers will discuss at a Monday teleconference the draft...
www.msnbc.msn.com/.../eurozone-push-crisis-steps-fitch-dou...
Europe debt crisis: Buying time won't save the euro - Economic Times
Europe debt crisis: Buying time won't save the euro. Dec 9 ... The EuropeanCommission has slashed its forecast for eurozone growth next year to just 0.5%....
articles.economictimes.indiatimes.com/.../30498053_1_eurozo...
Euro zone sovereign debt crisis: Six ...
For as complex and uniquely European as the current turmoil “over there” may be , the euro zone sovereigndebt crisis holds important lessons that the United ...
www.globalpost.com/.../euro-zone-sovereign-debt-crisis-lesso...
EU debt crisis: Moody's scoffs at euro deal | Investing | Financial Post
Moody's Investors Service said on Monday it still expects to review its ratings on allEuropean Union sovereign credit in the first quarter of next year, adding that ...
business.financialpost.com/2011/.../moodys-scoffs-at-euro-dea...
Weiss Ratings: Eurozone Crisis Prompts Debt Downgrades ...
Weiss Ratings: Eurozone Crisis Prompts Debt Downgrades ... The Europeanfinancial crisis is as large as ever and will continue to cause difficulties, as it ...
www.moneyandmarkets.com/weiss-ratings-eurozone-crisis-pro...
Eurozone crisis live: Merkel offers UK olive branch as euro slides ...
A sale of Italian government debt saw interest rates hit their highest level since the... For the other banks, however, Fitch considers the Eurozone crisis is also .... If France's credit rating is cut, it's hard to imagine that the European Financial ...
www.guardian.co.uk/business/.../uk-bailout-eurozone-crisis
Eurozone debt crisis: Europeans vent anger at credit agency over ...
That would further hinder the Eurozone's ability to support debt-ridden countries.... breaking budget rules, monthly eurozone summits until the economic crisisis ...
www.dailymail.co.uk/.../Eurozone-debt-crisis-Europeans-vent-...
EU Ministers Seek Crisis IMF Funding as Confidence Wanes
See EXT4 for more on Europe's debt crisis.) Dec. 19 (Bloomberg) -- Europeanfinance ministers sought to meet a self-imposed deadline for drawing additional ...
www.businessweek.com/.../eu-ministers-seek-crisis-imf-fundin...

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