Today: Saturday, August 20, 2011

Aug 20, 2011

IRELAND, Portugal, Spain, Italy, Greece News, Aug 20, 2011

Research and Markets: Eurozone Commercial Banking Report Q3 2011
SunHerald.com
... Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. The report examines key drivers of growth and future prospects, including the macroeconomic situation, ...
See all stories on this topic »

Europe on the edge of abyss - experts
The Voice of Russia
As for Germany, it's high time to sound alarm as the country is facing an economic slowdown, a low domestic demand and its money is invested in securities of the PIIGS group which includes Portugal, Italy, Ireland, Greece and Spain. ...
See all stories on this topic »

The Voice of Russia
Van Rompuy Opposes Issuing Common Euro Bonds, Says Markets Overreacting
Bloomberg
... billion euros ($526 billion) in official loans to Greece, Portugal and Ireland, and 96 billion euros of bond purchases by the European Central Bank have failed fix the finances of those countries or prevent speculative attacks on Spain and Italy. ...
See all stories on this topic »The welfare state
Jerusalem Post
Others, although hardly basket cases such as Greece, Portugal and Ireland – or as potentially troubled as Spain and Italy – are by no means healthy, enviable economies. France is foremost among the not-so-healthy. There's no way around it: Only very ...
See all stories on this topic »Ministers are locked in a horror movie – Nightmare on Wall Street
WalesOnline
This compares with 5% for Spain and Italy and 15% for Greece. He argues that the UK Government should seize the opportunity of “incredibly cheap” borrowing and invest in infrastructure projects, such as the creation of toll roads. ...
See all stories on this topic »Global stock markets take another plunge: Max King - global strategist ...
Moneyweb.co.za
MAX KING: Well, the ones that need to leave are Greece, Ireland, Spain, Portugal, Italy and Cyprus. Then I don't believe it's anything other than the short term that France can survive in the eurozone with Spain and Italy out. ...
See all stories on this topic »Focus on fundamentals
Business Times (subscription)
After initially lending some support, Germany and other stronger Euro nations are balking at the prospect of throwing good money after bad in the way of Portugal, Ireland, Italy, Greece andSpain (the so-called PIIGS). Despite the recent partial ...
See all stories on this topic »

When London razed the zeal for Human Rights
The Island.lk (subscription)
The Eurozone, once the proud challenger to the US dollar, is fast being seen as a fiscal and financial piggery, with Italy very likely to join European PIGS – Portugal, Ireland,Greece and Spain. The swineherds in Germany and France are snorting ...
See all stories on this topic »

The Island.lk (subscription)




FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 20, 2011


The dollar debacle: How it affects the world
Express Buzz
If two-thirds are in dollars, that will be $5.8 trillion, 8 per cent of the global GDP in cash! The third element, the most important, is US current account deficit. It is a long story that has built the USeconomic and financial model. ...
See all stories on this topic »
Roller-coaster times
Winnipeg Free Press
Bonds are financial instruments that allow companies and nations to borrow money. The yield is the return on a bond relative to its market value. The higher the yield, the lower the market value of the bond. Here's an example: A bank buys a $100 bond ...
See all stories on this topic »
They tried to make me go to rehab and I said “No, no, no”
EconoMonitor (blog)
We have long questioned the situation with European banks, noting that those who downplay the connections with US financial institutions miss the point. Banking is a confidence game and when one's confidence is shattered, contagion often runs rampant. ...
See all stories on this topic »

EconoMonitor (blog)
Arab Spring, A Clash of Civilizational Paradigms
American Muslim
The central bank would regulate the money supply by setting the percentage of profits that each level of banks could charge. This system would work, of course, only for investment banking. Loans for consumption by definition are not self-financing and ...
See all stories on this topic »

EUROZONE Debt Crisis News, Aug 20, 2011


Can eurobonds be a way out of Europe's debt crisis?
Malta Independent Online
by David Casa During the past week there was yet another meeting between the German chancellor and the French president on what to do about the eurozone's worsening debt crisis. Each time, markets hold their breath in anticipation of a far-reaching ...
See all stories on this topic »
Belgium Finmin says debt crisis as bad as 2008: paper
Reuters
"This crisis doesn't only affect some players, as we initially thought. The US credit rating has been downgraded during the summer, and the phenomenon affects the whole planet," Reynders said. Euro zone countries should seek to take some advantage from ...
See all stories on this topic »
Commerzbank CEO calls for EU finance minister: report
Reuters
FRANKFURT (Reuters) - A European finance minister with sway over member states' taxes and budgets is needed to lead the euro zone out of its debt crisis, says the Chief Executive of Germany's second-largest lender, Commerzbank. ...
See all stories on this topic »

Reuters
French Banks Under Fire
Barron's
By DIGBY LARNER | MORE ARTICLES BY AUTHOR Lack of leadership in resolving Europe's debt crisis is helping to hammer France's financial stocks. French bank stocks are being battered by the inability of euro-zone officials to end the region's debt crisis ...
See all stories on this topic »
Emerging-Market Currencies Mixed, Debt Little Changed
Wall Street Journal
By Erin McCarthy Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Emerging-market currencies were mixed Friday as investors appeared to shift into wait-and-see mode, with markets awaiting further developments in the euro-zone sovereign debt crisis and the ...
See all stories on this topic »
What should the Tories do about the euro crisis?
Telegraph.co.uk
Unless a major crisis intervenes, Treaty changes are only likely after 2013, when both leaders (or their successors) will have full terms ahead of them. Perhaps not – but there are two good reasons why they shouldn't be in a rush to renegotiate the ...
See all stories on this topic »

Telegraph.co.uk
DJ Germany's Gabriel: Euro Zone Needs Common Bonds, Growth Program - Report
Middle East North Africa Financial Network
FRANKFURT, Aug 20, 2011 (Dow Jones Commodities News via Comtex) -- Euro-zone governments should introduce common bonds and joint economic governance to help overcome the debt crisis, Sigmar Gabriel, head of Germany's main opposition Social Democratic ...
See all stories on this topic »
After this crisis, Britain may get the kind of EU it wants
The Guardian
Similarly, to implement the Sarko-Merkel proposal for a constitutional "golden rule" for all eurozone members – legally capping how much debt they're allowed to rack up – would be anything but straightforward. In the Netherlands it would require the ...
See all stories on this topic »

The Guardian
Global crisis deepens
Journal Online
Concerns about faltering growth in the United States and the eurozone's debt crisis have erased more than $7 trillion in value from global stock markets since late July. “The market continues to be susceptible to negative news headlines, and anything ...
See all stories on this topic »
Weekly Review: Markets sink 4%, IT shares plunge
Business Standard
Markets slipped over 4% this week as jittery investors removed money from equities on concerns of global recession and sovereign debt crisis in Europe. The markets echoed the sell-off seen a week ago when S&P downgraded the credit rating of United ...
See all stories on this topic »
3 European nations seek collateral on bailouts
Bend Bulletin
The effort threatens to complicate negotiations on the second package of aid agreed to by eurozoneleaders in July, creating an additional problem for officials seeking to bring the Continent's debt crisisunder control. During negotiations on July's ...
See all stories on this topic »
The Root Causes of the Global Financial Crisis
Center for Research on Globalization
We saw one interest rate fits all and we knew the euro was doomed before it got started. The condition of the euro zone and Europe is certainly terrible, but so are USdebt problems. Policy decisions are bad, but not any worse than they are in the US. ...
See all stories on this topic »

Center for Research on Globalization
Why won't our cowardly leaders stand up to these arrogant bullies?
Daily Mail
They may not like what is happening, but one thing is certain: none of our party leaders has made a single public utterance this week that suggests they know how to deal withEurope's debt mountain and the unfolding political crisis. ...
See all stories on this topic »

Daily Mail
TREASURIES OUTLOOK-Treasury yields edge up from 60-year lows
Reuters
Lingering fears about Europe's debt crisis and speculation about whether not Japanese authorities will intervene to halt the surge of the yen are among the market's concerns. Perceptions about the US and the euro zone outlook are likely to guide ...
See all stories on this topic »
Risk of recession grows, but still unlikely: economists
GlobalNews.ca
The markets have been on a roller coaster for the past two weeks, spurred on by the downgrade of the US government's credit rating and the spread debt crisis in Europe. The growing uncertainty has some private sector economists rumbling about a ...
See all stories on this topic »
Daily Forex Summary on USD, Euro, GBP, JPY, AUD, CAD and NZD
IBTimes
Investors have also been reassured after encouraging signs that Eurozone officials are moving closer towards proactively addressing the region's debt crisis through issuance of joint "Eurobonds." However, the improved confidence comes just a day after ...
See all stories on this topic »
Gold sets fresh record as global stocks slide
euronews
After a difficult week for markets worldwide, Wall Street closed on a down note amid growing fears of another US recession and over Europe's debt crisis. US stocks at first see-sawed before heading down. European stocks closed down, too, ...
See all stories on this topic »
Bank of America Layoffs: Banking Industry Copes With A Changing World
International Business Times
Peter Maris, Principal and Financial Planner at Resource Financial Group Ltd. in Wilmette, Ill., said that, generally speaking, the European/British banks are reeling from their heavy exposure to the euro zone debt crisis (particularly to Greece), ...
See all stories on this topic »

International Business Times
More Chinese copper demand likely soon - Aurubis
SteelGuru
It said that copper prices have fallen about 10% since August 1st 2011 partly because of fears about the euro zone debt crisis and worries about an economic slowdown in top consumer China. Chinese domestic copper prices on the Shanghai Futures Exchange ...
See all stories on this topic »
NYMEX-US crude down a 4th week on economic worries
Reuters
MET/L] * Gold rose more than 1 percent, setting a record for a second straight day and posting its biggest one-week gain in 2-1/2 years on worries about stalled US growth and Europe's debt crisis. [GOL/]
See all stories on this topic »
Trouble in Paradise
Wall Street Journal
The euro has weakened 12% since Aug. 9, when it nearly hit parity with the franc, considered a critical threshold. But each new round of worries over the euro-zone crisis sparks a new bout of buying of the franc, and the current level of the franc is ...
See all stories on this topic »

Wall Street Journal
Van Rompuy Opposes Common Euro Bonds, Says Markets Overreacting
San Francisco Chronicle
20 (Bloomberg) -- European Union President Herman Van Rompuy ruled out issuing common bonds as a cure for the debt crisis, saying any joint borrowing should wait until European economies and budgets are better aligned. With three countries drawing ...
See all stories on this topic »
Galvan's Week-Ahead: After the crash: duck for cover or fill yer boots?
Proactive Investors UK
Initially, hopes that a Eurobond might resolve the Euro crisis ensured a degree of stability, but given the relatively low volume and jittery holiday conditions it is easy to see wild indices swings continuing until the first week of September when ...
See all stories on this topic »
Fear of Recession Hovers As Global Markets Fall Down
Dice News
A strong feeling is spreading throughout the whole Europe that the leaders are not working properly and are struggling against the debt crisis. It was said in a meeting between two of the most powerful authorities, French President Nicolas Sarkozy and ...
See all stories on this topic »
The Economy Is Slowing, Not Stalling
Barron's
In Europe, the crisis is intensifying in the euro zone, even if Italian yields drop. The ECB needs to buy bonds. In America, Obama needs to lead a bipartisan effort to have significant deficit reduction over the next decade. The deficit brawl does not ...
See all stories on this topic »
Gold - a bubble that could deflate
Reuters India
On Friday, global equity markets slid anew and gold set a second-straight record high as fears of a possible US slide into recession and concerns related to Europe's debt crisis kept investors on edge. (Reporting by Siddesh Mayenkar, editing by Miral ...
See all stories on this topic »
JSE books biggest drop in 15 months
Fin24
Renewed worries about Europe's debt crisis and a raft of weak US economic data hit global markets, driving down stocks and oil prices and pushing US bond yields to record lows while pushing gold to a record high. The decline was broad as well as steep, ...
See all stories on this topic »
Forex US Review – Yen hits record high against Dollar
Trading Point
While acknowledging risks posed by the euro zone debt crisis and the slow US recovery, they both downplayed the risk of a global recession. Meanwhile, prior to their meeting, Canadian inflation data for July were released suggesting no inflation ...
See all stories on this topic »

Trading Point
New friends, old foes for Euro bonds
Montreal Gazette
By MICHAEL SHIELDS and PHILIP BLENKINSOP, Reuters August 20, 2011 12:00 AM Pressure on Germany and France to take radical action on the eurozone debt crisis mounted on Friday, as financial markets sagged further and Belgium added its support to calls ...
See all stories on this topic »
Daily Stock Alert
Barron's
French bank stocks are being battered by the inability of euro-zone officials to end the region's debt crisis. But while more downside risk remains, these shares look like bargains for patient -- and brave -- investors, Barron's says. ...
See all stories on this topic »
Wall Street down for fourth week on economic fears
Xinhua
After Morgan Stanley and Goldman Sachs slashed their forecasts for global economic growth on Thursday, Citigroup and JPMorgan Chase cut their US growth forecasts as the global economy slows and officials struggle to stem Europe's sovereign- debt crisis ...
See all stories on this topic »

Xinhua
World Stock Market Weekly Summary
Live Trading News
... Sachs (NYSE:GS) cut their forecasts for Global economic growth Thursday, Citigroup (NYSE:C) and JPMorgan Chase (NYSE:JPM) cut their US growth forecasts as the Western economy slows, and officials struggle to stem Europe's sovereign debt crisis. ...
See all stories on this topic »
The Early August Market Swings Were Unprecedented and Unnatural
Seeking Alpha
The exact same scenario would have happened in 2011 Europe under Hoogervorst's plan. Without the threat of failure by those banks who hold high amounts of euro sovereign debt, investors would be free to move on from the European crisis and the stock ...
See all stories on this topic »
Invest regularly to avoid the fluctuations of the markets
Yorkshire Post
The eurozone remains in crisis with austerity measures by Greece, Italy and Portugal insufficient to stabilise the currency. Like the US, the euro states are addicted to debt. Instead there should be exciting growth in Asia, notably China (probably up ...
See all stories on this topic »
Wall Street sinks for fourth straight week, European shares near 2-year lows ...
Buenos Aires Herald
European shares approached two-year lows, extending the previous session's plunge, on fears that major economies are heading for recession and that policymakers have no answer to the euro zone debt crisis. The FTSEurofirst 300 index of top European ...
See all stories on this topic »
Morgan Stanley cuts global growth view, eyes ECB
Pakistan Observer
Weak growth data from the euro's main economies, Germany and France, has put further pressure on European politicians who have been haggling over ways to stop the bloc's sovereign debt crisisfrom engulfing Spain and Italy. The US economy also stumbled ...
See all stories on this topic »
Belgium adds to call for euro bonds, bigger bailout
Fox Business
VIENNA/BRUSSELS (Reuters) - Pressure on Germany and France to take radical action on theeuro zone debt crisis mounted on Friday, as financial markets sagged further and Belgium added its support to calls for the region to issue debt jointly. ...
See all stories on this topic »
Euro Debt Crisis: 'No Solution In Sight' - Project Economy News ...
NEW YORK (CNNMoney) -- European leaders are under intense pressure to come up with a long-term solution to the debt problems straining the European Union to its breaking point. Friday, August 19, 2011. ... France, where voters must approve such measures. "In the end," said McKeown, "theeuro zone's strongest economies might decide that the potential costs of allowing the euro zone to fail, perhaps in the form of a banking crises, are even greater than those of supporting it ." ...
KOAT.com - Money Headlines
NewsDaily: Commerzbank CEO calls for EU finance minister: report
A European finance minister with sway over member states' taxes and budgets is needed to lead theeuro zone out of its debt crisis, says the Chief Executive of Germany's second-largest lender, Commerzbank.
NewsDaily: Business Headlines
German Chancellor's coalition may hinder euro rescue | Women's ...
The Franco-German plan to stabilise the economic union in Europe is not receiving a warm response.... Advertise · Twitter Feed · Contact · Links · Women's Views on News Daily women's news and current affairs service. Stay up to date: Subscribe by feed reader · Subscribe by email · Bodies · Play · Power · Work ... At the same time, the increasing intensity of the euro-zone debt crisis has kept the euro under pressure. And, in Germany, crisis management with regards to the euro and ...
Women's Views on News
Debt-Crisis Fears Hammer French Bank Stocks - Barrons.com
Lack of leadership in resolving Europe's debt crisis is helping to hammer France's financial stocks. Article; Comments ... Says Barry Norris, a fund manager at London-based European equity specialists Argonaut Capital: "There seems a distinct lack of leadership in trying to resolve the issues of the sovereign crisis, both in terms of euro-zone politicians and [European Central Bank] officials." ... DIGBY LARNER, who is based in Paris, is an assistant news editor at Dow Jones Newswires. ...
Barron's This Week Magazine
Franco-German statement on euro zone debt crisis - NewsPlurk
NewsPlurk. United States News & Search Aggregator. Business · Sci/Tech · Entertainment · Sports... Franco-German statement on euro zone debt crisis ...
business.newsplurk.com/.../franco-german-statement-on-euro-...
Merkel, Sarkozy to try to tame debt crisis - One News Page
The latest attempt to solve the eurozone sovereign debt crisis got the thumbs down from ... Euro debt crisis 101 What can Merkel Sarkozy (news article) ...
www.onenewspage.com/.../Merkel-Sarkozy-to-try-to-tame-de...
News Analysis: Debt Crisis Brings Focus Back to Early Euro Pact ...
News Analysis: Debt Crisis Brings Focus Back to Early Euro Pact ... The slowdown in Europe'slargest economy will make it more difficult for the euro zone. ...
www.headlinenewsonline.com/.../news-analysis-debt-crisis-bri...
New initiatives won't solve Europe's debt crisis - Salon.com Mobile
New initiatives won't solve Europe's debt crisis ... Nicolas Sarkozy and German Chancellor Angela Merkel announced new initiatives to address the escalating euro zone debt crisis. ... Sound like good news? The markets didn't think so. ...
mobile.salon.com/news/feature/2011/08/.../fiscal_unity_europ...
FTSE plunges 5% as eurozone debt crisis ... - OnlineNigeria News
FTSE plunges 5% as eurozone debt crisis continues to spook traders. ... against a backdrop of theeuro zone crisis and damaging U.S. unemployment figures ...
news2.onlinenigeria.com/.../107916-ftse-plunges-5-as-eurozo...
Dailymotion - Few Answers at Euro Zone Debt Crisis Meeting - a ...
News & Politics. Uploaded on 18/08/11. Recorded on 17/08/11. and eurozone over france germany meet euro zone debt crisis debt ...
www.dailymotion.com/.../xklcfk_few-answers-at-euro-zone-d...