Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 02, 2012

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Jan 2, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Jan 02, 2012

Germany, France Pursue Debt Crisis Solution As European Economy Worsens
Wall Street Journal
Two years since the onset of Greece's debt woes, the crisis has mushroomed into a full-blown sovereign debt crisis in the entire euro zone, threatening the global economy. European leaders have failed to come up with a lasting solution to the crisis....
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Eurozone crisis hits manufacturing
The Independent
The decline in the sector came as companies faced declining order inflows, a slowing global economy and ongoing financial market turbulence, while the broader eurozonedebt crisis continues to shatter confidence. The eurozone crisis has frequently been...
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Wolfgang Schaeuble, German Finance Minister: Euro 'A Clear Success Story'
Huffington Post
The head of Standard Chartered bank told a British Sunday newspaper that political leaders had yet to offer a meaningful solution to the bloc's debt crisis. "We enter 2012 with a very difficult outlook for the euro zone ... with an increasing ...
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European Central Bank increases bond purchases from minimal buys of previous weeks
Washington Post
FRANKFURT, Germany — The European Central Bank increased the bond purchases that have helped ease pressure on indebted governments from the eurozone debt crisis last week. The bank bought €462 million ($598 million) in bonds, up from a bare €19 ...
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Eurozone crisis: Spain's deficit could be higher than predicted
Daily Mail
He said Spain right now, with its economy a mess and the eurozone in adebt crisis, could not afford to announce its deficit will be two points higher than forecast without also quickly taking measures like raising taxes, as unpleasant as that might be ...
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Daily Mail
FOREX-Euro hits decade low vs yen, more falls likely
Reuters
DEBT AUCTIONS EYED Italy, the euro zone's third-largest economy, remains at the centre of the debt crisis, and its borrowing needs could overwhelm the bloc's financialdefences if it were forced to seek an international bailout. In the coming months, ...
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Difficult year ahead as Eurozone crisis set to continue
BBC News
... polled by the BBC said the eurozone would not exist in its current 17-member form, while the majority put the possibility of a eurozone break-up at 30%-40%. Growth in Europe has stalled as the debt crisis has forced governments to slash spending. Euro.
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BBC News
EURO GOVT-Bunds slip; debt crisis to remain supportive in 2012
Reuters
The next few months will be critical for the euro zone with the debt crisis far from resolved and threatening to engulf Italy, which has around 100 billion euros of debtpayments to meet in the first four months of the year, according to Reuters data. ...
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Hungary's Government Quarrels with Central Bank over Debt Figures
Wall Street Journal (blog)
The dispute began when the central bank said on Monday Hungary's official public debtfigure, measured in line with European Union rules for current and aspiring members of the euro zone, came to 82.6% of economic output at the end of the third quarter ...
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'Britain Must Be Aware of its Importance in the EU'
Spiegel Online
But doesn't it seem today that the US and Europe are engaged in a kind of economic war? Dombret: One cannot speak of an economic war. Without a doubt the euro zone bears the primary responsibility for resolving the sovereign debt crisis. ...
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Spiegel Online
European stocks up in light post-holiday trade
The Associated Press
Much of the attention in coming weeks will center on Italy, the eurozone's third-largest economy and the focal point of the eurozone's struggle to deal with a crisis caused by heavy levels of government debt. Fears of default on those debts mean that ...
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European shares inch higher, gains seen limited
Economic Times
Economic data also showed a grim picture of the euro zone's ability to weather the region's debt crisis, with the region's manufacturing activity declining for a fifth consecutive month in December, although at a slightly slower rate than November. ...
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European shares post steepest annual fall in
Sky News Australia
European shares rose on Friday but still recorded their biggest annual drop since the onset of the financial crisis as debt tensions in the euro zone strained the financialsector and threatened to derail a fragile economic recovery. ...
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Polish Central Bank May Buy Government Debt, Rostowski Says
Bloomberg
European Union treaties need to be changed to allow the European Central Bank to buy bonds of EU members whose ability to finance debt is threatened by financialmarket contagion, rather than fiscal mismanagement, Rostowski said, according to the...
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Little Denmark faces high-stakes EU Presidency
Presseurop - English
In recent months, the 17 countries of the Eurozone have set about resolving the sovereign debt and single currency crisis in a framework that is worryingly remote from the heart of European cooperation. There is a serious risk of division – a risk that ...
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Presseurop - English
Stocks: Volatility Sign Flashing Red
WPBF West Palm Beach
But the US economy would not be immune if the debt crisis in Europe develops into a full-blown credit crunch. The European Union is America's largest trading partner, and a banking crisis in Europe could easily ripple across the global financial system ...
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<B>Martin Feldstein:</B> The French just don't get it
Business Standard
Looking ahead, stopping the euro zone financial crisis does not require political union or a commitment of German financial support. It depends on individual euro zone countries – especially Italy, Spain and France – making the changes in their ...
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Business Standard
Eurozone collapse 'starts this year' says CEBR
Telegraph.co.uk
He added that Greece seemed "pretty certain" to leave the euro and it now looked "more likely than not" that Italy would follow suit. Both countries have been rocked by the festering debt crisis and have to implement harsh austerity measures which some ...
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Telegraph.co.uk
Euro reaching 'turning point' in debt crisis
Examiner.com
Germany's Chancellor Angela Merkelis insisting that she intends to do “everything” she can to save the euro, and Finance Minister Wolfgang Schaeubleis declaring that thecrisis is now “manageable.” The problem is that citizens of the euro zone nations ...
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President calls on Czechs to keep calm and support austerity measures in face ...
Radio Prague
Like other political leaders across the eurozone, Mr. Klaus, who is a vocal critic of European integration, also warned of the dangers the economy is facing in the coming 12 months. Going into 2012, theEuropean Union is likely to encounter difficult ...
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Radio Prague
Forecast for 2012: recession, but not a Great Recession
Christian Science Monitor
But this time, the trigger could be another sizable drop in housing prices, a fall in consumer spending, or the European financial crisis. Despite recent stronger economic data, the United States is likely to fall into a recession that will spread ...
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Christian Science Monitor
European stocks close higher in thin trade
AFP
The euro was slightly easier at $1.2924, down from $1.2939 in New York late Friday as investors waited to see what the next turn in the eurozone debt crisis would be ahead of another EU summit at the end of the month. The euro was at 99.42 yen, ...
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AFP
Euro debt 'toxic,' like 2008 subprime mortgage bonds
LoanSafe
by Moe Bedard on January 2, 2012 in Latest Financial News (Source: Tulsa World) –European sovereign debt has just about the same status that was bestowed on subprime mortgage bonds during the depths of the financial crisis, says Anthony Crescenzi of ...
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Europe crisis top concern for S. Korea's financial sector: poll
The Korea Herald
The survey of 250 financial firms by the Korea Chamber of Commerce and Industry showed 81.6 percent of the respondents saying that debt problems facing manyEuropean countries could affect the industry as a whole. “The eurozone issue will remain the ...
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$6.3 Trillion Erased From The Global Markets In The Last Year
Dice News
Nearly $6.3 trillion was wiped off from the global stock markets value in the last year whilst the euro zone debt crisis echoed across the whole world in the last half of the last year, raising doubts over the prospect of world's largest currency bloc. ...
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Troubled Kashmir » Blog Archive » Europe: from stagnation to ...
By admin
Mario Draghi, President of the European Central Bank (ECB), warned this week of the serious risk of financial contagion across Europe, driven by the debt crisis. The ECB has described tensions in bond markets as reaching the “systemic crisis proportions” seen in the run-up to ... Normally this would include sovereign debt from stable economies, like those in the eurozone. But since that sovereign debt is now considered increasingly dangerous, available collateral is disappearing. ...
Troubled Kashmir
TSX in for uphill slog amid EU debt crisis, recession fears | iPolitics
By Malcolm Morrison
TORONTO — Canadian investors will need to be very nimble in 2012 as they contend with the worst investing environment since early 2009, when markets bottomed out in the midst of a global recession sparked by the Wall Street financial crisis . None of the problems that have spooked investors for months are going away any time soon — a worsening European debt crisis that threatens to drag the continent into recession with spillover effects affecting everyone from China to ...
iPolitics
The 1930′s Forgotten Economic Lessons — Clearing and Settlement
By RSS Feed
The eurozone debt crisis is Europe's first financial crunch since the introduction of theEuroEU leaders are stupefied by a crisis they have no experience in dealing with, just as central bankers and political leaders were stunned by the first ...
Clearing and Settlement — Clearing...
VIDEO WSJ: Documentary about the Eurozone's debt crisis | Expat ...
By vlad
The editors of the prestigious newspaper Wall Street Journal, have made ​​a documentary about the debt crisis in the European Union. ... VIDEO Wall Street Journal: Documentary about the Eurozone's debt crisis. Posted by vlad on Jan 02, 2012 | Leave a Comment ... the franc and the italian lira. Share · Tweet. Tagged with 2012, currency,debt crisis, documentary, drachma, economic crisiseuro crisiseuropean union,eurozone, franc, italian lira, video, wall street journal, wsj ...
Expat Times
What really caused the eurozone crisis? - VIYAPARIKALOKAYA
By wedamulla
This is supposed to stop them accumulating too much debt, and make sure there won't be another financial crisis. But didn't they already agree to this back in the '90s? Hang on a minute. They agreed to exactly ... Of the big economies, only Spain kept its nose clear until the 2008 financial crisis; the Madrid government stayed within the 3% limit every year from the euro's creation in 1999 until 2007. Not only that – of the four, Spain's government also has the smallest debts relative to the ...
VIYAPARIKALOKAYA
Euro woes: No joy for 10-year-old currency — RT
By RT
Yet 10 years down the road, the euro is not in the best of shape: a spiraling sovereigndebt crisis, credit downgrades, rising interest rates, tens of millions unemployed, budget cuts, and violent protests. “The euro is ... “There has to be a sign from somewhere that some economic entity that is credible is going to back every eurozonebond and there are only two or three entities that can do that,” explains Peter Spiegel, the chief of The Financial Times' Brussels bureau. “One is the ...
News RSS : Today
European stocks close higher in thin trade | Pakistan Business News ...
By AFP
The euro was slightly easier at $1.2924, down from $1.2939 in New York late Friday as investors waited to see what the next turn in the eurozone debt crisis would be ahead of another EU summit at the end of the month. The euro was at 99.42 yen, after 99.62 yen... Finance Minister Wolfgang Schaeuble, in a newspaper interview, said that while 2012 would probably be more difficult than 2011, the German economy was still in “good shape.” French brokerage Aurel BGC said that in ...
Pakistan Business News | Pakistan...
ECB bond buys rise to $598 million - Markets news by mail.com
The European Central Bank increased the bond purchases that have helped ease pressure on indebted governments from the eurozone debt crisis last week. The bank bought ...
Mail.com: International
Euro leaders warn of crippling crisis | Sovereign Independent
By jayfromeire
Euro leaders warn of crippling crisisEurozone leaders have used their New Year's messages to warn of more economic crisis for the year ahead, as many eurozonecountries expect recession in 2012. Press TV. German Chancellor Angela ...
Sovereign Independent
jacinto - Markets in Europe, Asia end 2011 down but US up (AP)
By jacinto
The euro started the year at $1.3345. Much of the attention next year will center on Italy, the eurozone's third-largest economy. Italy is the focal point of the eurozone'sstruggle to deal with a crisis, caused by heavy levels of government debt in a ...
jacinto
EU debt crisis: Euro architects explain how it all ... - Financial Post
Ten years ago Saturday, the European Union celebrated the launch of the first eurocoins and notes with fireworks, parties and solemn speeches. Today, several ...
business.financialpost.com/.../euro-architects-explain-how-it-al...
Predictions for 2012: eurozone debt crisis - Telegraph
The European debt crisis will dominate 2012. Forget resolutions: leaders will take the embattled eurozone to the edge of the political and economic abyss before ...
www.telegraph.co.uk/.../Predictions-for-2012-eurozone-debt-c...
Crisis talk, austerity calls mark euro anniversary - Business - World ...
"This is not a euro crisis, it is a debt crisis in some euro states," Schaeuble told ...treaty for deeper economic union, with Britain the only country among the 27 EU ...
www.msnbc.msn.com/.../crisis-talk-austerity-calls-mark-euro-a...
A History of the Euro-Zone Debt Crisis, in 6 Parts - Real Time ...
Our six-part history of the euro crisis. ... Committee, an influential body of technocrats who manage EU economic policy. ... A Voluntary Greek Debt Deal? Next » ...
blogs.wsj.com/brussels/.../history-of-the-euro-crisis-6-parts/
Euro Zone Debt Crisis: Regulator Warns EU Financial Stresses ...
The dangers facing Europe's financial system have continued to worsen, Europe's recently created super-watchdog, the European System Risk Board ( ESRB), ...
www.cnbc.com/.../Regulator_Warns_EU_Financial_Stresses_...
BBC News - What really caused the eurozone crisis?
World leaders probably spent more time worrying about the eurozone crisis than anything ... too much debt, and make sure there won't be another financial crisis. ...the same 3% borrowing limit back in 1997, when the euro was being set up. ...
www.bbc.co.uk/news/business-16301630
Eurozone crisis live: Italy tests market confidence with €8.5bn ...
9.19am: One of Angela Merkel's economic advisers has warned that a ... of €8.5bn of long-term debt: Bids close at 10am • Euro-Zone M3 money supply data for ...
www.guardian.co.uk/.../dec/.../eurozone-crisis-live-italy-debt?...
A Quick Guide to the Eurozone Crisis
When the financial crisis hit, however, problems came to a head. ... to bring their public debt under control, after receiving billions of euros in bailout aid from the ...
www.thefiscaltimes.com/.../A-Quick-Guide-to-the-Eurozone-C...
Germany, France Pursue Debt Crisis Solution As European Economy ...
Two years since the onset of Greece's debt woes, the crisis has mushroomed into a full-blown sovereign debt crisis in the entire euro zone, threatening the ...
online.wsj.com/article/BT-CO-20120102-702719.html
Dithering at the Top Turned EU Crisis to Global Threat
The Journal is examining how the euro-zone debt crisis is upending Europe's decades-long push toward deeper economic and political integration. ...
online.wsj.com/.../SB10001424052970203518404577094843...
  
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