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Aug 23, 2011

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EUROZONE Debt Crisis News, Aug 23, 2011

China vice foreign minister frets about euro zone collapse
BEIJING (Reuters) - The euro zone could collapse if its member countries do not work together to solve its debt crisis, but China is pleased to see that Germany and France are cooperating to avert that risk, a Chinese vice foreign minister said in an ...
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The only way to fix the euro zone is…
TIME (blog)
Late the other night, I was talking about the debt problems in the euro zone with my wife, who is also a journalist. “How can Europe solve the crisis anyway?” she asked me. Leaving aside for a moment how pathetic it is that we still discuss such issues ...
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Greek Crisis Now Worse, Not Better: Analyst
On July 21, EU leaders agreed to a second bailout for Greece, one that was supposed to draw a line under the euro zone debt crisis and give the new government in Athens a chance come to grips with the huge debts it inherited when it was elected. ...
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France's Sarkozy to discuss crisis with China's Hu
Reuters India
By Daniel Flynn and Zhou Xin PARIS/BEIJING (Reuters) - President Nicolas Sarkozy will seek support from Chinese President Hu Jintao on Thursday for Europe's handling of the euro zone debt crisis, amid signs of growing concern in Beijing. ...
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European Banks Must Pay Up to Borrow $100 Billion Amid Crisis: Euro Credit
“The stress in the interbank lending markets is not easing,” said John Brady, senior vice president in the interest-rates product group at MF Global Inc. in Chicago. “The market remains skeptical of any near-term resolution to the debt crisis in Europe ...
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Why the United States Should Be Concerned about France's Banking Crisis
A contagion of panic selling could result in a major European banking crisis yet. National regulators and governments pushed banks to acquire European sovereign debt on the foolhardy notion that theEU will not allow the euro to fail. ...
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Secondary Sources: Health Benefits, Household Debt, the Euro Crisis
Wall Street Journal (blog)
–As Europe's debt crisis continues to ripple around the world, Douglas J. Elliott of Brookings examines why the Continent, rather than getting its act together, persists in repeating its mistakes: ”From a distance the responses can seem outright inept, ...
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Greenspan: Euro Crisis Hurting US Economy
Wall Street Journal (blog)
“The euro is breaking down,” Mr. Greenspan said. European banks are in trouble because they holddebt of countries close to default like Greece, he added. “The reason we're so sluggish is the level of uncertainty.” The euro zone crisis matters because ...
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Spanish PM wants balanced budget in constitution
MADRID — Prime Minister Jose Luis Zapatero said Tuesday that Spain should amend its constitution to incorporate a balanced budget provision, in line with fellow eurozonemember states struggling to tame a destabilising debt crisis. ...
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Euro-Zone Private Sector Stays Weak
Wall Street Journal
Figures released by the European Commission showed the mood among euro-zone consumers deteriorated much more than expected this month after equity markets plunged on concerns over the currency area's sovereign-debt crisis, funding strains for banks and ...
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Bundesbank Criticizes Euro Area Crisis Management
RTT News
(RTTNews) - Germany's Bundesbank on Monday severely criticized the Eurozone leaders' handling of the debt crisis, saying that the decisions taken at the EU summit last month could weaken the foundations of the monetary union. In its monthly report for ...
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Germany Expects Growth to Slow
Wall Street Journal
Many analysts think Germany will have to go even further to resolve the debt crisis in the periphery by accepting either a big increase in the size of Europe's bailout fund or common issuance of government debt via euro bonds. ...
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Wall Street Journal
EURO GOVT-Greek aid doubts keep Bund yields near record lows
"What we're seeing is the debt crisis affecting the real economy more and more," said WestLB rate strategist Michael Leister. "So the market has to deal with the debt crisis and also the markedly deteriorating outlook for not only euro zone growth but ...
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Euro crisis compared to Black Death epidemic
Irish Times
“It's nearly two years since Europe's debt crisis started, and like the Black Death in the 14th century, it has spread across the euro zone from Greece to Ireland, to Portugal, Spain and other countries, and now to core countries like Italy,” said the ...
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Euro-Zone Confidence Deteriorates Sharply
The consumer confidence reading for the European Union as a whole also deteriorated to -16.8 from -12.4 in July, the Commission said. In the latest escalation of the euro zone's debt crisis, the European Central Bank started buying Italian and Spanish ...
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China: For Beijing, euro debt crisis like 'black death'
Spero News
Europe's “sovereign debt crisis has spread like the Black Death of the fourteenth century across theeuro zone countries,” said the article signed by Zhang Zhixiang, a former head of the People's Bank of China international department, and Zhang Chao, ...
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Slow economic growth is likely to hit sterling hard
Belfast Telegraph
... The eurozone debt crisis has been in the forefront of investors' minds for many weeks now. The problem has spread like a virus across Europe with Greece first catching the debt 'flu some 18 months ago. The response from the EU and the International ...
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GLOBAL MARKETS-World stocks rally on Fed hopes, dollar down
Financial markets have been in turmoil over the past month on concerns the United States may be headed for another recession and as the euro zone's debt crisis has worsened. World stocks, as measured by the MSCI All-Country World Index . ...
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Eurozone industry shows signs of slowdown
The Guardian
Williamson said that the eurozone economy had suffered from a drop in global demand, which dampened demand for exports. The ongoing euro debt crisis has also hit business confidence. Seperate data from Germany underlined how the financialcrisis has ...
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The Guardian
US Stock Futures Rise After China Data
Wall Street Journal
But strategists said volatility could remain the watchword amid nagging fears over the health of the US and global economy, as well as worries over Europe's sovereign debt crisis. Such concerns have contributed to a global equity rout and extreme ...
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Euro-Area Services, Manufacturing Grow at Slowest Pace in Almost Two Years
Europe's economy is struggling to gather strength as governments from Italy to Spain step up budget cuts to fight the debt crisis. Pledges of 365 billion euros ($525 billion) in official loans to Greece, Portugal and Ireland, and 110.5 billion euros of ...
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U.S. Commodities Day Ahead: Hurricane Irene Nears U.S. Coast
ArcelorMittal may post its lowest earnings in two years in the fourth quarter as the world's biggest steel producer bears the brunt of a “brutal” drop in prices spurred by Europe's debt crisis, Exane BNP Paribas said. ...
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Resentment in the North: Rich EU Members Lose Patience with the 'Olive Zone'
Spiegel Online
This euro crisis is not only about rescuing a common currency. It's about fundamental questions of political union. It's about the suspicions of many Europeans that people in the southern part of the EU, derisively referred to as the "olive zone," ...
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Spiegel Online
The Euro-Zone Crisis
New Hampshire Public Radio
By Laura Knoy on Tuesday, August 23, 2011 Formed almost twenty years ago, theEuropean Union today boasts twenty-seven countries,but now global economic hardship has created tough times there, to the point where huge debt in some EUnations threatens ...
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New Hampshire Public Radio
Weak EU banks may push world into 2nd financial crisis
News-Insurances (press release) (blog)
Zhang's comments come ahead of a visit to Beijing by French President Nicolas Sarkozy on Thursday to discuss the global economic situation amid intensifying investor worries over the euro-zone debt crisis. As more euro-zone countries seek collateral in ...
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Forex Forecast : Rate Predictions For GBP, USD, EUR, AUD, SGD
Currency News
However, a renewed flare-up in the Eurozone's ongoing sovereign debt crisis could see the Aussie rapidly lose ground. NEAR-TERM OUTLOOK – NEUTRAL TO POSITIVE. Figures released last night showed that Singapore's headline CPI measure of inflation ...
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Currency News
Younes: Europe Taking Easy Medicine First
Global markets continued to be rocked by fears of slowing European growth and the ongoing European sovereign debt crisis. I'm here today with Rudolph-Riad Younes. He is a portfolio manager at Artio, and he will provide an update on the situation. ...
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Transaction tax may drive FX market from London
Merkel and Sarkozy proposed the tax -- nicknamed the "Tobin tax" after the US economist who put forward the idea in the 1970s -- as part of a range of measures aimed at containing the euro zoendebt crisis. Many politicians blame speculators for the ...
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Weedy US Dollar Bolstered Base Metals, Short Covering Favors Copper
Meanwhile, the drop in German and Europe PMI data released today intensified the fears of Euro zone debt crisis. But, the floundering US dollar and bargain hunting supported the price hike. Markit reported that German Manufacturing PMI remained ...
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Tuesday Look Ahead: Markets in the Vice Grip of Euro Worries and Weak US Economy
Markets are caught up in the push pull of worry about Europe's debt crisis and sluggish US growth. Markets will focus Tuesday on new home sales and the Richmond Fed survey, both at 10 am ET. The Richmond Fed takes on more importance than usual because ...
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Analysts expect new policy rate hike
Bangkok Post
... in the US and Europe threaten to make future decisions a tougher call. The market fears a banking crisis on top of fiscal debt concerns about the euro-zone economies including Greece'sdebt crisis possibly compelling that country to exit the zone. ...
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Rand firms against dollar
"Yet, we are wary of the political squabbling between eurozone states and the impact of high frequency European data releases on market sentiment," they wrote. In the latest turn of events in the European sovereign debt crisis, Finland has requested ...
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US Stocks Open Slightly Higher
Wall Street Journal
The spreading European debt crisis and the threat of the US economy double-dipping back into recession have been the main causes for concern weighing on investor minds. Investors are looking to Federal Reserve Chairman Ben Bernanke's speech in Jackson ...
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'Black Death' of eurozone crisis will hit exports - China ...
By admin
The “Black Death” of the debt crisis across the euro zone will hurt China's exports, although Beijing's relatively small holdings of euro assets will limit damage to foreign exchange reserves, the nation's top official newspaper said on ...
SurviveinChina China Blog News
A Silver Lining to the Italian Debt Cloud
By Kash Mansori
The fact that much of the news concerns Self-Inflicted Awfulness makes it even more depressing than it otherwise would be. But I found a glimmer of light shining from Europe this morning as I was reading today's installment of Awful News. ... The purchases come as the ECB was seen stepping back into bond markets this month to push down yields on Italian and Spanish government debt in an effort to halt the spread of the euro-zone sovereign debt crisis… ...
Wall Street Pit
The 4th Media » Eurozone Crackup
By Kiyul Chung
If investors lose confidence in the region's banks, Europe's financial system could seize up, tipping the euro zone into another recession." (" Renewed Fears Europe's Banks Too Weak To WithstandDebt Crisis", Wall Street Journal) ...
The 4th Media
Investor confidence slumps to 2008 lows - The Local
German investors had a bad case of the summertime blues this month as economic activity stagnated across the eurozone, with surveys released Tuesday at multi-year lows owing to the debt crisis and poor growth prospects. ... The German economy, the eurozone's biggest, expanded by a measly 0.1 percent in the second quarter after posting a strong gain of 1.3 percent in the first. The ZEW survey's current conditions index plunged to 53.5 points from July's 90.6 points ...
The Local - Germany's news in English
Greek Crisis Now Worse, Not Better: Analyst « InvestmentWatch ...
By Daniel
InvestmentWatch – The best source of news, analysis, and intelligent discussion ... On July 21, EUleaders agreed to a second bailout for Greece, one that was supposed to draw a line under the euro zone debt crisis and give the new government in Athens a chance come to grips with the huge debts it inherited when it was elected. ...
InvestmentWatch - The best source...
Social Democrats: Sweden should stay outside the euro - Stockholm News
Tommy Waidelich, economic spokesperson for the Social Democrats, writes off a Swedish membership of the eurozone during a foreseeable future. He calls also for a European leadership with the creation of euro bonds and pushing banks to act with responsibility. ... Now, the 48 year old Tommy Waidelich says that a Swedish euro-membership should be out of the question during his life-time. The background is (not surprisingly) the debt-crisis in parts of the euro-zone: ...
Stockholm News - Latest news
Links 08/20/2011 - The Palgrave Econolog - story details
By Republished content
"Herman Van Rompuy, the President of the European Union, has warned investors against overreacting to the European debt crisis and US credit rating downgrade, and ruled out issuingeurobonds". ... Bond markets signal 'Japanese' slump for US and Europe - TelegraphWhy Obama faces an uphill run for reelection ... [visit site to read more]Related PostsGreece Euro Zone Exit Seems Unlikely 6 May 2011Some Thoughts On Italy's Ratings 22 May 2011Largest Widening ...
The Palgrave Econolog - latest...
Travelex for Business » North America » August 23, 2011
By Travelex America
With investor attention focused so much recently on Europe's debt woes and on worries about slowing U.S. growth, the spotlight has partially shifted away from weak U.K. economic fundamentals, helping the pound last week to its highest ... The report, which is by no means a game-changer for the weak U.K. economy, helps add to the pound's recently improved appeal as its poor economic fundamentals have been largely eclipsed by worries about the euro zone debt crisis and by ...
Travelex Currency News – NA - UPDATE 2-Spain to put debt ceiling in constitution
Keywords: Search for a news provider, date, or keywords. News Providers: Thompson Financial, AP, XFN-Asia, Daily FX, Reuters Date format: yyyy-mm-dd. Refresh Articles. UPDATE 2-Spain to put debt ceiling in constitution. Top Articles ... Spain has come under sustained market attack since the beginning of the euro zone debt crisis, and this has pushed up debt costs to unsustainable levels, on concerns the bloc's fourth largest econonmy would need international aid. ...
XE Forex News
EIU sees at least 40% risk of eurozone breaking up ...
Real News Network ... The global markets have been going through a correction as investors turned cautious on the outlook of the U.S. economy and the risks of a sovereign debt crisis further spreading in the eurozone. ... With Italy and Spain now vulnerable as well, the euro debt crisis has been elevated to "a new and much more dangerous level," the EIU believed. "It's going to take time to build a political consensus around a long-term solution to these problems, ...
USAGOLD News and Views » Blog Archive » Anger at the Euro Bailout ...
By News
August 23 (Der Spiegel) — Chancellor Angela Merkel will meet conservative parliamentarians on Tuesday evening to try to allay their concerns about her management of the euro crisis. Many are unhappy about the EU deal to increase the ...
USAGOLD News and Views
Could Europe be on the cusp of a Lehman moment? | The Great Debate UK
By Kathleen Brooks
The euro zone debt crisis has now spread from the sovereigns – after the ECB came in and purchased Italian and Spanish debt – to the banking sector. Although the EU authorities put in place a short-selling ban, which has another week to ...
The Great Debate UK
The 1030 GMT Economics News Advisory -
German investor confidence takes a steep dive in August and private sector economic activity stagnates across the 17-nation eurozone, with surveys now at multi-year lows as the debt crisis and weak growth grips Europe. 500 words 1130 GMT by William Ickes ... Swiss banking giant UBS plans 3500 jobs cuts to save 2.0 billion Swiss francs (1.8 billion euros, $2.5 billion) in an increasingly uncertain economic climate. 500 words 1030 GMT. Russia-space-technology,lead ...
The Lahore Times
China paper warns of impact from euro crisis "Black ... - Yahoo! News
News. BEIJING (Reuters) - The "Black Death" of debt crisis across the ... Chinese exports to theEU reached 281.9 billion euros in 2010, a rise of 18.9 percent on 2009. ... China voices confidence on euro zone debt as crisis spreads ...
FOREX: Austria May Be Next Victim of Euro Zone Debt Crisis - ForexMax
Forex News Investor Portal Join Newsletter Contact Us ... Austria May Be the Next Victim of theEuro Zone Debt Crisis; SNB Threat of Euro / Franc Peg Likely a ... The danger is in Austrian banks' exposure to Eastern and Central Europe. ...
the Namibian: Eurozone debt crisis is like 'Black Death'
BEIJING – The “Black Death” of debt crisis across the eurozone will hurt ... “ The euro debt crisishas now been going for nearly two years since the end of ...
Euro debt crisis: 'No solution in sight' - The #1 Resource for all ...
“There is no solution to the Euroland's sovereign debt crisis in sight,” said Carl Weinberg, an economist at High Frequency ... The leaders of Europe's largest economies announced proposals they said will encouraging fiscal discipline and increase economic competitiveness across the euro zone. ... Recent News ...

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