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Feb 13, 2012

EUROZONE Debt Crisis News, Feb 13, 2012

TEXT-Fitch:European investors expect Eurozone crisis to persist for another year
Reuters
A very small minority of 3% optimistically anticipate the crisis will be solved during the year. "The investor survey largely accords with Fitch's view that the eurozone crisis will persist, be punctuated by episodes of severefinancial volatility, ...
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Debt crisis and Greek bailout: live
Telegraph.co.uk
Having secured parliamentary approval against a backdrop of violent protest across Greece, Athens must now detail where it will find an extra €325m of cuts demanded last week byeurozone finance ministers. 13.51 Hardly surprising, but Fitch has said ...
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Telegraph.co.uk
Q&A: The Greek financial crisis
CBS News
It borrowed much more than it collected in tax revenue and much more thanEU rules said it should have. When the financial crisis hit, it became too expensive for the nation to borrow money to pay off its debt. This revealed the true size of the debt ...
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Chinese Official Brushes Aside Calls to Buy European Debt
New York Times
“We have always supported the proactive measures the EU has taken to deal with the euro debt crisis,” Mr. Liu said. “We believe that aside from taking some emergency relief steps, the EU should continue taking fiscal and financial structural and ...
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Europe's Debt Crisis: Back from the Brink?
TIME
In the more than two years that Europe's debt crisis has been raging, we've witnessed a couple patches during which sentiment improves, theeuro strengthens and investors gain a bit of confidence that the euro zoneis actually solving its problems.
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China says Europe debt crisis is now 'critical'
AFP
The crisis, which has triggered violent unrest in Greece, will top the agenda at the EU-China summit this week as Europe's leaders try to persuade Beijing to help resolve the continent'sfinancial woes. "China is concerned over it. The debt issue is at ...
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AFP
EU 'will solve its debt crisis'
China Daily
By Fu Jing (China Daily) BRUSSELS - The European Union itself, not China or any other emerging nation, will solve theeurozone debt crisis, European Council President Herman van Rompuy, said. "The debt crisis in the eurozone is being solved by its ...
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China Daily
Eurozone Debt Crisis Continues to Cloud Outlook at U.K. Banks
MarketWatch (press release)
Citigroup analyst Andrew Coomb said last week that UK banks could see weak loan growth in 2012 as households and corporations cut debt levels amid a tough economic environment and regulators press them to raise capital ratios.
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'Co-Co' Debt Finds Favor in Euro Zone
Wall Street Journal
See economic, political and markets news from across Europe as governments and financial institutions deal with the continuing debt crisis. Purchases of co-cos are the latest effort among some European countries to dodge outright cash injections into ...
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EU aviation carbon tax fuels concerns, may go to UN
Reuters
The escalating row comes on the eve of a China-EU summit in Beijing, with the EU looking to China to dip into its huge foreign exchange reserves to help the eurozone tackle a debt build-up that threatens its economicstability. Airbus (EAD.
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PREVIEW: China, EU to discuss eurozone, bolster economic links
Monsters and Critics.com
China's potential to increase its support for the eurozone is expected to take centre stage at Tuesday's summit. The European Union is keen to win China's verbal, and ideally practical, support for its handling of the debt crisis.
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Draghi's $158 Billion Free Lunch to Boost EU Bank Profits
BusinessWeek
See {EXT4 } for more on Europe's debt crisis.) Feb. 13 (Bloomberg) -- Banks are benefiting from a European Central Bank subsidy that could reach 120 billion euros ($158 billion), enough to pay every bonus atfinancial firms in London for the next 24 ...
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EU obliged to do deal on bank debt, says Varadkar
Irish Times
Mr Varadkar said this country would have been able to pursue very different policies to deal with the crisis had it not been for its membership of theeuro zone and “the constraints that go with it”. “We would certainly have devalued our currency, ...
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Is Italy Really Better Off Than Greece?
CNBC.com
... help it navigate the euro zone debt crisis. Monti told CNBC Friday that his country had a better financial position than Greece, even though it is often spoken of as one of the euro zone countries most likely to need a bailout similar to Greece's.
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CNBC.com
The debt brake: Germany's most dangerous export?
GlobalPost
(Sean Gallup/Getty Images) BERLIN, Germany — In recent months, German Chancellor Angela Merkel has been using the urgency posed by the euro zone's debt crisis to reshape Europe's economies, largely to conform with a particular quirk of German ...
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Is the Debt Crisis In Europe Spreading to the U.S.?
Investment U
Put it all together and you get the Eurozone debt crisis, complete with financial headaches, very real threats of default and rioting in the streets, as the world repeatedly saw in Greece, Italy, Spain and the UK last year… and will undoubtedly see ...
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Investment U
U.K. to avoid recession; growth seen 'subdued'
MarketWatch
“Economic conditions will continue to be tough, especially in the first half of the year, and the UK recovery will depend on the successful resolution of the euro-zone crisis,” said John Cridland, director-general of the Confederation of British ...
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Euro crisis: Greek despair over deeper cuts
BBC News
Both EU and IMF officials intended this second bailout to end the Greek crisis. The plan was to put the country on a sustainable path, with the target of reducing the debt to GDP ratio to 120% by 2020. That will not be reached withouteurozone ...
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BBC News
S&P's Moritz Kraemer: Europe's AAA-rated Mr Scissorhands
Reuters
By Marc Jones | FRANKFURT (Reuters) - On January 13, Standard & Poor's Ratings Services cut the credit ratings of nine euro zone countries, stripping France and Austria of their triple-A status and triggering new concerns about the region's financial ...
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Eurozone debt crisis and Pakistan
Business Recorder (blog)
This distinction has been papered over with the emergence of the debt crisis in several Eurozone countries. The reforms proposed by the IMF supported by Germany, the largest contributor to the bailout package, focus on drastically reducing the budget ...
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BOK to Retain Accommodative Policy Stance
Wall Street Journal
By IN-SOO NAM SEOUL—The Bank of Korea said Monday it plans to maintain an accommodative policy stance to help shield the economy from the euro-zone sovereign debt crisis, in its clearest indication yet that it won't change its benchmark interest rate ...
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Foxconn Cancels Convertible Bond Sale Amid European Crisis
BusinessWeek
... billion ($271 million) in convertible bonds, citing the effect of Europe'sdebt crisis on credit markets. The application to the financial regulator to sell the securities was withdrawn, the Taipei-based company said in an exchange filing today.
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Treasuries Erase Losses on Concern Greek Plan Won't Solve Crisis
BusinessWeek
... erased losses amid concern the Greek approval of the austerity steps won't solve the country's debt crisis, stoking haven demand. Benchmark 10-year note yields fell, after trading above 2 percent for a fourth day, on speculation euro finance chiefs ...
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'Merkel Is Leading Europe in the Wrong Direction'
Spiegel Online
AP Billionaire investor George Soros: "The euro crisis is a direct continuation or consequence of the 2008 crash." Global investor George Soros considers the German government's policies in the euro crisis to be disastrous. In a SPIEGEL interview, ...
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Spiegel Online
Deal too tough to help growth
Kathimerini
However, this is unlikely to signal the end of the debt crisis if Greece and the troika -- the representatives of the country's lenders, the EuropeanUnion, European Central Bank and International Monetary Fund -- do not learn from their mistakes.
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Budget Relies on Cautious Economic Forecast
Wall Street Journal
By KRISTINA PETERSON WASHINGTON—The White House based its budget for fiscal-year 2013 on a cautious economicforecast that predicts gradual growth still threatened byEuropean instability. The economic assumptions underpinning President Barack Obama's ...
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Wall Street Journal
Why we need comprehensive Debt Restructuring in Europe
By John Ryan
The Eurozone crisis has been a battle over who will ultimately be liable for the billions worth of actual and potential losses on sovereign debt held byEuropean financial institutions. With neither the issuance of collectively backed Eurobonds ...
Social Europe Journal
EU debt crisis: Greeks still to convince EU on bailout ... - Financial Post
Europe gave Greece until Wednesday to convince skeptical international creditors that it would stick to the punishing terms of a multi-billion-eurorescue package, endorsed by parliament as rioters torched downtown Athens.
FP Top Stories List
China's CIC brushes aside Merkel investment plea — Clearing and ...
By RSS Feed
“We have always supported the proactive measures the EU has taken to deal with the euro debt crisis. We believe that aside from taking some emergency relief steps, the EU should continue taking fiscal and financialstructural and ...
Clearing and Settlement — Clearing...
XE.com - TIMELINE-Greece's debt crisis
Here is a look back at Greece's financial crisis since a deal with theEuropean Union and International Monetary Fund was sealed in 2010. ...Oct. 27 - Euro zone leaders reach a deal with private banks and insurers for them to accept a 50 percent loss on their Greek government bonds under a plan to lower Greece's debt burden. Oct. 31 - Papandreou calls a referendum on the latest bailout without consulting European leaders. -- French President Nicolas Sarkozy and German ...
XE Forex News
Looking at Europe from America | The Quad bu student magazine ...
By Ian Moskowitz
Despite only moderate news coverage, the European sovereign debt crisisis undoubtedly the first item atop President Obama's morning briefs. Thecrisis, ... The U.S. has the ability to provide some lending assistance to the tune of $380 billion via the IMF but ultimately, an economic and more long-term political solution must come from EU governments themselves. If a true Euro crisis does occur, the U.S. has a number of unpleasant policy options at its disposal that it may need to use ...
The Quad
The Greek Parliament Bails Out the Markets
By Chris Gaffney
Worries over the European debt crisis also moved the commodity markets lower on Friday, as global growth prospects were clouded by questions in Europe. ... But the Greek Parliament changed everything with a 199-74 vote in favor of the spending cuts the EU, IMF and ECB required as a condition of a second bailout. ... So while the vote was certainly needed, we could still see some volatility in the next two days as euro-area finance ministers consider this latest rescue package.
The Daily Reckoning
Euro Crisis: Cold morning after a hot night in Athens… « Slugger O ...
By Mick Fealty
For most of the last two years, the euro zone has done what is necessary to prevent a catastrophic collapse of the euro zone while seeking to avoid rich countries having to take responsibility for the debts of the corrupt, unreliable and unreformed economies of Southern Europe. ... For richEuropean countries, it makes economic sense to preserve the euro, but not if the price is to write blank checks in perpetuity to countries whose political systems can't be trusted. It follows that the key to ...
Slugger O'Toole
NewsDaily: S&P's Moritz Kraemer: Europe's AAA-rated Mr ...
By Marc Jones
On January 13, Standard & Poor's Ratings Services cut the credit ratings of nine euro zone countries, stripping France and Austria of their triple-A status and triggering new concerns about the region's financial health. ... In announcing the downgrade of much of Europe, Kraemer, who declined comment, defended the ratings cuts and criticized Europe's leaders for not doing enough to address the region's debt crisis. "The policy initiatives taken by European policymakers in recent ...
NewsDaily: Top Headlines
Greek debt crisis: a deal, a riot and some not widely known ...
By VOXXI
Greek debt crisis: some unknown facts. ... On top of that euro zone financeministers are saying the Greek government must find another 325 millioneuros in savings if it is to receive an EU funded 130 billion euro bail-out ($172 billion).
VOXXI
Europe's debt crisis: Where things stand - Feb. 1, 2012
After wrecking havoc in global financial markets last year, the debt crisisin ... of individual governments subject to EU authority "ex ante," or before the fact.
money.cnn.com/2012/02/01/markets/europe.../index.htm
Debt crisis: live - Telegraph
Evangelos Venizelos, Greece's finance minister, cuts a lonely figure last night as .... 16.54 Time for a chart showing the performance of Europeanmarkets over the ... 14.16 The eurozone crisis just took a strange turn: the Greek police union is ...
www.telegraph.co.uk/finance/debt-crisis.../Debt-crisis-live.htm...
Factbox: Euro zone debt crisis: coming events - Yahoo! Finance
From Yahoo! Finance: Following are coming events linked to the debt crisis in the euro zone: EUROPEAN UNION: February 20 - Eurogroup meeting of euro ...
finance.yahoo.com/.../factbox-euro-zone-debt-crisis-1127360...
European debt crisis pitches Germany against Greece | Business ...
They believe that the draconian terms for financial assistance are condemning the economy to permanent ... Can the eurozone survive the Greek debt crisis?
www.guardian.co.uk/.../european-debt-crisis-germany-against-...
Debt forgiveness could ease eurozone crisis | Christian News on ...
Arwyn Bailey, the Association of Christian Financial Advisers (ACFA), saiddebt forgiveness was one way to ease the eurozone debt crisis and prevent a ...
www.christiantoday.com/article/debt.forgiveness.../29248.htm
Obama hails Italian PM in talks on euro crisis — EUbusiness - legal ...
US President Barack Obama praised Italian Prime Minister Mario Monti on Thursday, saying he was boosting confidence across Europe and world markets with ...
www.eubusiness.com/news-eu/finance-public-debt.f32
What impact will the Euro zone debt crisis have on the financial ...
Government owned hospitals are slowing down their payment of accounts receivables so that the number of days outstanding has increased from around...
https://www.gplus.com/.../what-impact-will-the-euro-zone-deb...
Debt Crisis: Eurozone bailout founds not enough as new €15bn hole ...
Debt Crisis: Eurozone bailout founds not enough as new €15bn hole found in Greek ... The international think-tank said the European FinancialStability Facility's ...
www.independent.ie/.../debt-crisis-eurozone-bailout-founds-n...
The Eurozone Crisis and India-EU Ties | Institute for Defence ...
The continuing Eurozone crisis has already started affecting economicties adversely ... The European sovereign debt crisis has grown into one of the biggest ...
www.idsa.in/.../TheEurozoneCrisisandIndiaEUTies_gsacjdeva...
UK's Hague: Euro-Zone Debt Crisis Biggest Threat To UK | Fox ...
The ongoing sovereign debt crisis in the euro zone is the biggest threat to... Hague told a financial services conference in London that "anemic growth" in the ...
www.foxbusiness.com/.../uks-hague-euro-zone-debt-crisis-big

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