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May 29, 2012

IRELAND, Portugal, Spain, Italy, Greece News, May 29, 2012

A Greek Euro Exit Risks Reaching China; Any Departure Hits Growth
BusinessWeek
By Simon Kennedy on May 29, 2012 Greece, responsible for 0.4 percent of the world economy, now poses a threat to international prosperity as investors raise bets its days using the euro are numbered. A Greek departure from the currency would inflict ...
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Can Greece muddle through (again)?
Washington Post (blog)
The great worry of an exit is that it would trigger a chain reaction of bank runs in other vulnerable countries: Spain, Italy, Ireland, Portugal. If so, the possible costs — in lost economic growth and rescue packages — would dwarf any additional aid ...
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EU Leaders Offer Few Steps to Fix Crisis
TIME
Political uncertainty in Greece is just one of the fires the Europe needs to put out. Leaders are also worried about rising borrowing costs in Spain and Italythat could force them to seek bailouts, just like Greece, Portugal and Irelanddid.
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Italy Sells EU8.5 Billion of Treasury Bills as Rates Rise
BusinessWeek
By Chiara Vasarri on May 29, 2012 Italy sold 8.5 billion euros ($10.7 billion) of Treasury bills, meeting its target as rates rose from the previous auction amid concern that Greece may leave the euro region. The Rome-based Treasury sold the 183-day ...
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Spanish PM insists banks won't need EU rescue
Philadelphia Inquirer
AP A broker stands near the main display at the Stock Exchange in Madrid, Monday, May 28, 2012. Conservative Spanish Prime Minister Mariano Rajoy was adamant Monday that Spain's bank sector would not need an international rescue as concern over the ...
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Euro 2012: Europe's best football returns
The Roar
Opponents such as Germany, Netherlands, Portugal, England, Croatia and Denmark all rank inside FIFA's top 10 teams, while Russia, Italy, Greece, France, Sweden and Republic of Ireland are all ranked inside the top 20. These teams will not make life ...
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Another Look at Euro Area Capital Flight
Seeking Alpha
The upshot of the exercise is that both Spain and Italy have experienced capital flight amounting to roughly 10% of GDP each, and seem destined to go down the path of Greece, Portugal and Ireland, ie, the process seems likely to continue.
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Cost competitiveness key to longer-term success as clean energy faces ...
MarketWatch (press release)
NEW YORK, May 29, 2012 /PRNewswire via COMTEX/ -- Following a record year in 2011, investment flows in clean energy during Q1 2012 were the weakest since 2009 according to Ernst & Young's latest quarterly global renewable energy Country Attractiveness ...
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Europeans lose faith in EU but few want to drop euro: survey
MSN Money
A growing number of Europeans in Britain, France, Spain, Italy, the Czech Republic, Poland and Greece say integration has weakened their economies and question whether membership of the European Union is a good thing, according to a report by the ...
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Why isn't the euro falling even further?
Reuters Blogs (blog)
That may sound like a crazy question, given the euro's much-publicized decline over the past couple of weeks. It has been dropping as the possibility grows that Greece may seek to pull out of the 17-nation currency union following parliamentary ...
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Reuters Blogs (blog)
Eurozone crisis live: Fears grow over Spain as banking crisis deepens
The Guardian
Spain yield down 4bp to 6.44%.There is no 'new' good news as such - but the mkt noting the firmer equities — Steve Collins (@TradeDesk_Steve) May 29, 2012 Looking across the markets, most stock markets are higher (with Spain lagging behind) FTSE 100: ...
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The Guardian
Bank runs spreading across Europe! What next?
Jutia Group
In Spain, it's quickly turning into a flood, as individuals and businesses — with $1.25 trillion in total bank deposits — wonder if their country will be the next to leave the union. In Portugal,Ireland, Italy or even France, banks are vulnerable to ...
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Jutia Group
The Eurozone Crisis For Dummies
Yahoo!Xtra New Zealand News
Sovereign bonds in the PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) — which just a few years ago were highly rated — have lost their high ratings, forcing banks to fear big write downs that cripple lending. Investors wary about the ...
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Racism and Euro 2012: Football's Ongoing Struggle
TIME (blog)
The rosters of many Euro 2012 teams are a melting pot - one that modern-day Europe should start getting used to. By Tony Karon | @tonykaron | May29, 2012 | + Yes, it's just a Nike ad, but the spot above reveals something profoundly beautiful about ...
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Euro zone bank safety net leaves holes unplugged
MSN Money
"Preventing bank runs in Italy, Spain and Portugal should be the top priority," said Berenberg Bank economist Holger Schmieding. "Policymakers need to make sure that the potential Greek precedent of a forced conversion of domestic euro deposits into a ...
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Dutch Debt Regains Allure as Politics Trump Crisis: Euro Credit
Bloomberg
The Netherlands is back in favor among bond investors attracted by its fiscal record and return to political stability as they seek havens from Greece's potential exit from the euro area. Dutch bonds have delivered the third-biggest returns in the ...
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Bloomberg
Gold and Silver Stocks Are in Deep Value Territory: Alka Singh
Citizen Economists (blog)
Gold is considered a safe haven, but the issue that gave rise to the correction is mainly the Eurozone concern—in Greece, Spain, Portugal, Italy andIreland. Equity markets appear to be stabilizing as a consequence of quantitative easing in Europe, ...
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What You Need to Know About Europe and Your Company
The motley Fool (blog)
I think we are seeing that now, with the investment focus firmly on events in the Euro Zone and particularly Greece. These issues may seem tangential, but a lot of US companies have been reporting weaker European numbers recently and are referencing an ...
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Despite drop in euro, Europe may be no bargain
Tucson Citizen
Summer hotel rates haven't fallen notably yet, he says, even in countries in dire straits such as Ireland, Italy, Portugal and Spain. Political and economic unrest in Greece, however, are causing a drop in prices and tourism. Booking.com says the best ...
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Euro edges up but Spain fears leave it vulnerable
MSN Money
"We may see a bit of consolidation here but going forward we still have a euro that is very weak and vulnerable. The widening of spreads between Spain and Germany and Italy and Germany keeps worries about the debt crisis very much alive," said Niels ...
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Meanwhile, Back at the Ranch: How the Economy Is Shaping Up in Places That ...
Minyanville.com
By John Mauldin May 29, 2012 9:05 am It is simply hard to tear your eyes away from the slow-motion train wreck that is Europe. Historians will be writing about this moment in time for centuries, and with an ever-present media we see it unfold before ...
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World Concerns Are Back
Forex Pros
Until now, the path chosen by the peripheral countries of the zone has been to reduce their deficits as fast as possible, Greece, Portugal and Ireland are required to do so by their respective bailout plans. For Italy and Spain, accelerated debt ...
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The Overnight Report: Spain And Italy Temper Enthusiasm
Ninemsn
As has been the case thus far in 2012, there's enough around to keep both the bulls and the bears satisfied. Apart from voter intention polls in Greece, there are also signals that the Irish will prefer to stick with the devil they know (the eurozone) ...
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EUROPEAN OPENING NEWS INCLUDING: Greece's four largest banks received a EUR ...
Proactive Investors UK
(Shanghai Securities News) Deutsche Bank's economist Ma Jun has predicted two more RRR cuts in 2012, and a possible reduction in the lending rate. Elsewhere on the Chinese economy, Ma Jun has estimated Chinese export growth may slow to 11% in 2012 amid ...
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Grüße aus Deutschland: Angela Merkel Defender of the German Interest?
IBTimes.co.uk
By Graeme Mackay: Subscribe to Graeme's RSS feed Brian Parkin writing for Bloomberg on 24 May 2012, highlighted how Germany's sharp fall in jobless figures over the past few years is not only saving the nation a fortune but enhancing Chancellor Angela ...
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IBTimes.co.uk
Crisis: Act II
Frontline
Ireland, which was seen as a star performer because it rigorously fulfilled all the draconian austerity measures, is still struggling to grow, as is Portugal. Spain's huge economy is being pushed into a downward spiral as the asset deflation of the...
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Frontline
Meanwhile, Back at the Ranch
Gold Seek
If the cost of Greece leaving is €1 trillion, then who can guess the cost ofSpain or Italy? A total Greek default wipes out more than twice the ECB balance sheet. That means the remaining countries will have to put twice as much into the ECB as their ...
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Euro debt crisis: Lessons for Nigeria
BusinessDay
The banks will become insolvent if Greek or other member states, like Portugal, Italy, Ireland, or Spain, default on the debt. The banks also have to raise capital as a buffer against write-downs on such debt which, in most cases, are selling much ...
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BusinessDay
Henry Louis Gates, Jr. Discusses His PBS Docu-Series, "Finding Your Roots"
PR.com (press release)
By Allison Kugel, Senior Editor - May 29, 2012 Henry Louis Gates, Jr. is an award-winning author, educator, historian, and Ivy League professor of African-American studies. As an acclaimed voice of African-American history and ancestry, Gates is also ...
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PR.com (press release)
Cyprus' La La Love joins Eurovision's La La losers
Cyprus Mail
By Poly Pantelides Published on May 29, 2012 CYPRUS' great white hope for the Eurovision 2012 final, Ivi Adamou, did not manage to rank in its top ten songs finishing 16th out of the 26 countries competing on Saturday in Azerbaijan.
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QNB Group: The Increasing Likelihood of a Greek Exit Poses Acute Risks to the ...
Zawya (registration) (press release)
To date, Greece has received two bailouts packages, €110bn in May 2010 and €130bn finalised in February 2012, which included a "voluntary" restructuring of Greek bonds held by the private sector, involving net present value losses of around 70%.
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2012 UEFA European Football Championship fixture | The Roar
By Rooball96
By Rooball96, 30 May 2012 Rooball96 is a Roar Rookie ... Poland and Ukraine host the 14th installment of the UEFA European Football Championships, with Spain touted as favourites to defend the crown they won in Austria and Switzerland four years ago. Opponents such as Germany, Netherlands, Portugal, England, Croatia and Denmark all rank inside FIFA's top 10 teams, while Russia, ItalyGreece, France, Sweden and Republic ofIreland are all ranked inside the top 20.
The Roar
Spain, Italy, Portugal, Ireland ratings on negative review-DBRS
NEW YORK, May 22 (Reuters) - Ratings agency DBRS put thesovereign credit ratings for financially strained Spain, Italy,Portugal and Ireland on review for ... Reuters TV · Reuters News ... A look at the UK's most beautiful face Thu, May 10 2012 ... that Greece may not comply with the European Union-International Monetary ...
www.reuters.com/.../europe-dbrs-ratings-idUSL1E8GMIGG20...
Ireland's wealth market to outperform the rest of the PIIGS - Cary ...
Ireland's wealth market to outperform the rest of the PIIGS. 2012-05-25 | Datamonitor. The wealth markets in Portugal, Ireland, Italy, Greece, andSpain ( PIIGS) ...
www.carystreetpartners.com/index.../story_id=173036153
Spain, Italy, Portugal, Ireland ratings on negative review-DBRS
NEW YORK (May 23): Ratings agency DBRS put the sovereign credit ratings for financially strained Spain, Italy, Portugal and Ireland on review for possible ...
www.theedgemalaysia.com/.../214046-spain-italy-portugal-irel...
Money Daily: Greece - and Italy, Portugal, Ireland and Spain - Will ...
Wednesday, May 23, 2012 ... Greece's (and to a large degree, Spain, Italy,Portugal and Ireland) continued living on borrowed time and borrowed money is only ...
moneydaily.blogspot.com/.../greece-and-italy-portugal-ireland...
Citi Sees Italy, Ireland, Portugal And Spain Facing Further - eFXnews
Date: 24 May 2012 15:40 EDT Authored By: By eFXnews.com Show ... The trigger for such a move by the two rating agencies will be Greece's exit from the EMU.Th. ... EFX News - Foreign Exchange & Global Currency TradingNews ... Thus, it might result in further downgrades for Italy, Ireland,Portugal And Spain given the ...
www.efxnews.com/.../citi-sees-italy-ireland-portugal-and-spain...
LiveLeak.com - Spain could be locked out of the markets, says ...
11:30PM BST 16 May 2012 ... ”I don't want Greece to leave the euro,” he said. “I think that would be an enormous mistake, very bad news.” ... These countries such as Greece, Italy, Portugal, Spain and Ireland are 2nd world countries - they ...
www.liveleak.com/view?i=fc2_1337261706&comments...
Spare the rod, spoil the child | TribLIVE
Breaking news all day long and headlines from more than 15 local, trusted newspapers. Greece, Spain, Ireland, Portugal and Italy (and California). In each case, the. ... Published: Monday, May 21, 2012, 12:30 a.m.. Updated: Monday, May 21, ...
triblive.com/.../percent-greece-italy-debt-encouraged-governm...
European Banks Unprepared for Pandora's Box of Greek Exit
Wednesday, 23 May 2012 09:43 AM ... Banks in Greece, Ireland, Italy,Portugal and Spain saw a decline of 80.6 billion euros ($103 billion), or 3.2 percent, ...
www.moneynews.com/FinanceNews/European.../439990
Resolution of the UNI Europa Post & Logistics Committee ...
17 May 2012. To the postal workers and their Trade Unions in Greece, Italy,Ireland, Portugal and Spain: The UNI Europa Post & Logistics Committee met on ...
www.cwu.ie/Resolution-of-the-UNI-Europa-Post-Logistics-Co...
Spain, Italy, Portugal, Ireland ratings on negative review-DBRS ...
NEW YORK, May 22 (Reuters) - Ratings agency DBRS put thesovereign ...ratings for financially strained Spain, Italy,Portugal and Ireland on review for... May 22, 2012|Reuters ... Tuesday, citing the potential that Greece may not comply with ...
articles.chicagotribune.com/.../sns-rt-europe-dbrsratingsurgentl...
PIIGS might fly | Economia
PIIGS might fly. 25 May 2012 Comments (0). Held back by a currency they can't control but dare not leave, Portugal, Ireland, Italy, Greece and Spain – the PIIGS ...
economia.icaew.com/Business/PIIGS-might-fly
BusinessDay - NEWS ANALYSIS: Greek exit worry for European ...
Published: 2012/05/24 09:02:32 AM ... That already may be happening. Banks in Greece, Ireland, Italy, Portugal and Spain saw a decline of €80,6bn, or 3,2%, ...
www.businessday.co.za/Articles/Content.aspx?id=172557
Grexit: The euro has failed Greece. Are Italy, Spain, Portugal, and ...
Posted Sunday, May 27, 2012, at 6:30 AM ET ... but the quality of government credit is now in question across the eurozone periphery, up to and includingItaly.
www.slate.com/.../grexit_the_euro_has_failed_greece_are_ital...
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