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Mar 27, 2012

IRELAND, Portugal, Spain, Italy, Greece News, Mar 27, 2012

Analysis: Greek nightmare makes poor ad for asset sales
Reuters
Italy, Spain and Ireland, all of which are grappling with towering debt burdens, have the luxury of time, at least relative to Greece, and can structure privatization deals to maximize their impact and bide their time on pricing.
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Analysis: Spain risks years without economic growth
Reuters
... Spain has been a focus of investors since Greece first appealed for international help in early 2010. The economy is more than twice the size ofIreland, Greece and Portugal combined, and is seen as too large for the euro zone to let it fail.
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Why Europe is on a path to financial disaster
Globe and Mail
Between 2011 and 2014, the IMF earlier predicted the troubled euro zone economies would grow cumulatively by between 1.7 per cent for Greece, Italy and Portugal, to 4.8 per cent for Spain and 5.7 for Ireland. However, in recent months the IMF has been ...
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Globe and Mail
Ireland to vote on EU fiscal pact in May
euronews
Ireland joined 24 other European Union states in January in backing the treaty, which its proponents say is necessary to restore confidence in the euro zone and tame the debt crisis that has sucked in Greece, Ireland and Portugal and now threatens the ...
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Libor Flatlines as Europe-Wary See Stress: Credit Markets
Bloomberg
Italian Prime Minister Mario Monti warned that Spain may reignite the debt crisis, while Portugal bond yields are at levels suggesting traders expect another bailout. “The compression in the Libor spreads is running out of steam,” said Vincent ...
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Bloomberg
Analysis: For resilient Portugal, time is the enemy
WAMC
If Portugal follows Greece and forces losses on private bond holders to reduce its debt to sustainable levels, markets are bound to ask which financially strapped country is next in line. Spain and Italy, with debts that make them too big to bail yet ...
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German Leader Agrees to More Bailout Money for Euro Zone Nations
New York Times
But in a big concession, she said Germany would not oppose letting that fund operate alongside a temporary fund that has aided Greece, Ireland andPortugal but still has money to lend. German officials cautioned that many details needed to be ...
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Germany open to raise crisis firewall to $930 bn
BusinessWeek
... struggling countries like Italy and Spain. It is currently debating how to move from its interim rescue fund to a new, permanent one. Angela Merkel said Monday some (EURO)200 billion in rescue loans already promised to Greece,Ireland and Portugal ...
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OECD urges eurozone rescue fund boost to 1tn euros
BBC News
So far, Greece, Republic of Ireland and Portugal have been bailed out. Most recently, Greece was granted its second bailout of 130bn euros after passing some harsh austerity measures and forcing bondholders to write off half of its debts.
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BBC News
OECD Says Eurozone Needs Much Bigger Bailout Fund
Voice of America (blog)
... fund that takes effect in July and an existing account that already has rescued debt-ridden Greece, Ireland and Portugal. European leaders are considering a bigger fund in case larger countries — like Italy and Spain — need help paying their debts.
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LEAD: Merkel No Longer Against Temporary Boost to Eurozone Firewall
LoanSafe
Ireland – along with Greece and Portugal – is the other eurozone state to have received a financial lifeline from the bailout fund. Spain was now a “considerable concern,” Italian Prime Minister Mario Monti told a weekend conference in Italy.
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Eurozone to bolster firewall; Spain's fiscal concerns grow
Gulf Times
Officials indicate that the most likely outcome is an endorsement of an option that essentially takes what is left in the EFSF after bailouts to Portugal, Ireland and Greece with the ESM to create a 'super-fund' of around €740bn.
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Gulf Times
OECD pushes for $1.3 trillion eurozone crisis fund
The Seattle Times
Both organizations - which together with the European Central Bank oversee the bailouts of Greece, Ireland and Portugal - believe a much bigger firewall could contain the pressure on Italy and Spain. The eurozone's third- and fourth-largest economies, ...
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Today in the euro zone –
Reuters Blogs (blog)
Looking at German Chancellor Angela Merkel's statement on Monday, it seemed she was lining up behind the option of combining the 192 billion euros of EFSF money already committed to bailouts of Greece, Ireland andPortugal with the 500 billion ESM.
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German parties reject Merkel timeline on fiscal pact
Reuters
In addition to the 200 billion euros already committed to Greece, Ireland andPortugal under the EFSF, unused funds in the facility of 240 billion euros would remain available until mid-2013, German officials told Reuters. On top of that would come the ...
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Portugal wants extra 10% cut in government spending, Jornal says
ForexLive (blog)
I read report this morning that bank deposits from individuals and non financial corporations have decreased, compared to a year before, by 17.6% in Greece, 6.1% in Ireland, 2.8% in Spain and 1.9% in Italy. At the same time, the report states there has ...
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Jefferies puts debt debacle aside
Financial Times
The “vandals” he is referring to are the analysts and hedge funds that voiced worries over its sovereign debt holdings in Greece, Ireland, Italy, Portugaland Spain. The concerns, which came in the wake of the bankruptcy of rival US brokerage firm MF ...
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World Metal Matrix Composites Market to Exceed US$322 Million by 2017 ...
Virtual-Strategy Magazine
A more balanced outlook is the possible exit of the debt ridden economies,Portugal, Italy, Ireland, Greece and Spain, from the European Union. A return to local currencies, which would be massively devalued, will also bring in critical implications ...
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Ireland & Spain offer opportunities to property investors
Homesgofast.com
CTV News reports that 'Ireland and Spain have dealt with their problems to such an extent they are attracting investors over other debt-laden countries like Greece, Italy and Portugal.' Keep reading to learn why now is a great time to invest in ...
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Homesgofast.com
Deutsche Bank No. 1 in Europe as Leverage Hits Market Valuation
Bloomberg
Systemically Important Deutsche Bank cut its net exposure to the sovereign debt of Greece, Ireland, Italy, Portugal and Spain to 3.67 billion euros at the end of last year from 12.1 billion euros in 2010, helped by hedging, writedowns and maturing ...
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Bloomberg
Germany taking another step towards to the Full bailout of troubled European ...
Next Big Future
The 17 euro countries are currently debating how to move from their old bailout fund — the €440 billion European Financial Stability Facility, which is already providing €192 billion in loans to Greece, Ireland and Portugal — to a new, permanent ...
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European Market Update
Action Forex
ZAR2.1B indicated in 2017, 2020 and 2041 Bonds (ES) Spain Debt Agency (Tesoro) sold €2.5B vs. €2.-3.0B indicated range in 3-Month and 6-Month Bills (IT) Italy Debt Agency (Tesoro) sold €2.82B vs. €2.0-3.0B in Jan 2014 CTZ; avg yield 2.352% v 3.013% ...
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The Future Of The European Union
Financier Worldwide
Following the bailouts of Greece and Ireland in 2010, Portugal became the third member of the eurozone to ask for financial assistance. In an attempt to stunt the contagion, EU ministers met a total of eight times in 2011.
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Ireland wants back into bonds
Business Day
A further worsening in Spain's finances, elections in France and Greece, and any more debt restructurings in Greece or Portugal could be triggers for such blowouts. Data last week showed Ireland unexpectedly fell back into recession in the last quarter ...
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Spain may yet reignite euro-zone crisis
AsiaOne
It has disbursed 192 billion euros in three separate bailouts toGreece, Ireland and Portugal. Under the current rules, the unused funds would be passed on to the ESM, which would have a fresh war chest of 500 billion euros. That would take the entire ...
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AsiaOne
Europe's Bigger Firewall Gets German Support
Bloomberg
Citing "the great sensitivity and fragility" of Spanish andPortuguese bond yields, Merkel said the 200 billion euros in loans that had already been distributed to Greece, Portugal and Irelandcould be paid back after the ESM comes into effect.
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Bloomberg
OECD: Italian unemployment 8. 1%, youth unemployment 27. 8%
Agenzia Giornalistica Italia
... to an "unprecedented" 21% in 2011, ranging between 7-8% in the Netherlands and Austria to 46.5% in Spain. Italy with a rate of 27.8% comes after Greece (42.6%), Slovakia (32.8%), Ireland (29.4%), Portugal (28.3% ) but above the EU average (21.1%).
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OECD calls for 1.0-tn-euro eurozone debt fund
AFP
Eurozone governments have debated whether to combine the lending capacity of the temporary European Financial Stability Facility (EFSF), used to rescue Portugal, Ireland and Greece, with the permanent ESM. German Chancellor Angela Merkel said on Monday ...
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AFP
ANALYSIS-Greek nightmare makes poor ad for asset sales
Reuters Africa
Italy, Spain and Ireland, all of which are grappling with towering debt burdens, have the luxury of time, at least relative to Greece, and can structure privatisation deals to maximise their impact and bide their time on pricing.
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OECD: the eurozone must make 'ambitious structural reforms'
Management Today
Which brings us neatly to the second lot to be upset at the OECD's recommendations: Greece, Ireland, Portugal, Spain and Italy – in short, anyone who has had, or might need, a bailout. The report specifically excluded them from the list of those who ...
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Central banks' easy money raises risk
Oman Daily Observer
The turnaround by the ECB eased concerns about bank financing and checked the rise in borrowing rates that threatened to tip Spain and Italy into bailouts after Greece, Ireland and Portugal all had to call for help. The problem now is that unless the ...
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OECD urges 'ambitious' eurozone reform
Financial Times
However, the OECD specifically excluded recipients of bailouts – Greece,Ireland and Portugal – from the list of those who could now afford to relax. It also stressed that countries facing close market scrutiny, such as Spain andItaly, ...
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Merkel gives ground on higher euro firewall
Times of Malta
The two funds could run in parallel until the €200 billion is paid back by so-called “programme countries” that have already received bailouts – Ireland,Portugal and Greece, she said. “This will take several years and then the ESM will stand alone ...
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EU website to monitor racist incidents in member states
Siliconrepublic.com
In addition to Ireland, organisations from Austria, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Hungary, Italy, Poland, Portugal, Romania, Spain, Slovenia and Sweden are involved in the RED Network, which is led led by the Institute for Rights ...
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Siliconrepublic.com
Forex Flash: Silent run on euro periphery banks? - BBH
NASDAQ
Chandler notes that bank deposits from individuals and non financial corporations have decreased, compared to a year before, by 17.6% in Greece, 6.1% in Ireland, 2.8% in Spain and 1.9% in Italy. At the same time, Chandler reports, there has been a ...
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Bob Chapman: Gold & Silver Going Alot Higher! « Socio-Economics ...
By mosesman
Greece is on its way to its next crisis whether it be via austerity, demonstrations or a military coup. In all likelihood Greece will be followed byIrelandPortugal, Belgium, Spain and Italy. It will also be interesting to see if bank deposits return to ...
Socio-Economics History Blog
Europe's Economic Crisis: Portugal, Ireland, Spain, Italy and ...
BackEconomy Economic News Finance Europe's Economic Crisis: Portugal,Ireland, Spain, Italy and Belgium are Heading in the Same Direction asGreece ...
www.balkanchronicle.com/index.php?...
Europe's Economic Crisis: Portugal, Ireland, Spain, Italy and ...
In all likelihood Greece will be followed by Ireland, Portugal, Belgium, Spainand Italy. It will also be interesting to see if bank deposits return to Greek banks.
www.marketoracle.co.uk/Article33614.html
Economists: Europe stuck on bailout merry-go-round - US News and ...
Italy's public debt level is not much better than Greece's and worse thanPortugal's. Spain, like Ireland, faces a rising tide of business and household red ink tied ...
www.usnews.com/.../economists-europe-stuck-on-bailout-merr...
Rising bond yields reflect European worries
Yields on bonds issued by the governments of Spain, Italy, and Greece have... Ireland, Italy, Portugal and Greece are in recession – might be becoming more ...
www.theglobeandmail.com/report-on.../article2379874/
Analysis: Greek nightmare makes poor ad for asset sales
Italy, Spain and Ireland, all of which are grappling with towering debt burdens, have the luxury of time, at least relative to Greece, and can structure ...
www.reuters.com/.../us-europe-privatisations-idUSBRE82Q07I...
Disappointment in Core, but Some Positive News in Periphery ...
There is talk that Spain may be downgraded, but we suspect this reflects the flurry ... Yes Ireland is in a recession, as is Portugal, Italy, Greece, Belgium, Holland ...
www.creditwritedowns.com/.../disappointment-in-core-but-so...
Merkel backs stronger firewall; Spain concerns grow
... have already been deployed to help bail out Greece, Ireland and Portugal,... a sharp pick up in concern about Spain, Italy and Portugal in recent days.
www.reuters.com/.../us-eurozone-firewall-idUSBRE82P0IG20...
Europe's Economic Crisis: Portugal, Ireland, Spain, Italy and ...
Europe's Economic Crisis: Portugal, Ireland, Spain, Italy and Belgium Following Greece ... Investors are waiting for more news about a plan to helpGreece avoid ...
legalnews.findlaw.com/article/04j91oKdungum?q...Central...
Bailout Worries See Spanish Bond Yields Rise - ABC News
At the height of the crisis, borrowing costs for Italy and Spain on bond markets... the economy most at risk following the bailouts of Greece, Ireland andPortugal.
abcnews.go.com/.../bailout-worries-spanish-bond-yields-rise-1...
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