Today: EUROZONE Crisis News, Jul 08, 2013

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Jul 8, 2013

EUROZONE Crisis News, Jul 08, 2013

Euro zone slump eases just as debt crisis returns to haunt progress
Reuters
LONDON (Reuters) - The euro zone economy looks on track to crawl out of recession in the second half of the year, surveys showed on Wednesday, just as new strains in the region's debt crisis put it all at risk. Markit's final Composite Eurozone ...
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Analysis : Euro zone survival ? Depends on where you work
Chicago Tribune
For non-euro zone respondents, slightly more than half predicted a return to crisis levels in the bloc'sdebt markets. It might not take long to find out who is right. Government borrowing costs have spiraled to dangerous levels in Portugal this week ...
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Schaeuble: Portuguese Govt Turmoil Won't Revive Euro Crisis
MNI News
BERLIN (MNI) - German Finance Minister Wolfgang Schaeuble said Thursday he did not expect the current turmoil in the Portuguese government to revive the Eurozone sovereign debt crisis. "The euro is by now seen in financial markets as so stable that ...
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Debt crisis shrinks international use of euro
The Hindu
The ECB said the financial crisis that has afflicted the 17-country Eurozone was a factor discouraging use of the euro for reserves, which are often held in the form of government bonds. Lending across borders in the eurozone has dropped, diminishing ...
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Sweden Finance Minister Warns Euro-zone Crisis Could Deepen Further
Wall Street Journal
Sweden's finance minister Thursday said the country's economic recovery will be weak, as there are still significant risks that the euro-zone crisis could deepen further, hampering growth in the export-oriented Nordic state. Anders Borg ... Sweden's ...
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Euro Zone Faces New Questions Over Financing Weak Members
Wall Street Journal
BRUSSELS—Euro-zone officials are preparing to confront a fresh test in the region's debt crisis: finding yet more financing for Portugal, Greece and Cyprus on top of more than €200 billion ($256 billion) the bloc already has devoted to bail out its ...
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Portugal shows that this eurozone crisis is not over
Telegraph.co.uk
This particular political crisis flared up after the now former Portuguese finance minister, Vitor Gaspar, resigned at the start of the week. ... So, Portugal's long-term future in the euro remains unclear, since it will almost certainly need some ...
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Analysis: Portugal, Greece risk reawakening euro zone beast
Chicago Tribune
BRUSSELS (Reuters) - A teetering Portuguese government has underlined the threat that the euro zone debt crisis, in hibernation for almost a year, may be about to reawaken. From Greece to Cyprus, Slovenia to Spain and Italy, and now most pressingly ...
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Euro crisis sparks market sell-off as Portugal government implodes and Greece ...
This is Money
Euro crisis sparks market sell-off as Portugal government implodes and Greece debt talks enter stalemate. By Tanya ... Financial markets have tumbled as a political crisis in Portugal and a stand-off between Greece and its lenders reignite the eurozone ...
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ECB cannot solve euro zone crisis: Bundesbank chief
Reuters
AIX-EN-PROVENCE, France (Reuters) - The European Central Bank cannot solve the euro zone crisis, Bundesbank chief Jens Weidmann told economists on Sunday, pressing the bloc's governments to get their economies in shape and tighten their fiscal rules ...
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Debt crisis hits demand for euro as reserve currency
Financial Mirror
The share of the euro fell also in international debt markets, to 25.5 percent in 2012 from 26.2 percent a year earlier, again due to tensions about the stability of euro zone sovereign debt. "In 2012, the euroarea sovereign debt crisis continued to ...
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Emerging From The Euro Debt Crisis: Making The Single Currency Work
Eurasia Review
Given what is likely to be a slow economic recovery in the eurozone and the only gradual closing of the capacity utilization gap, together with an inflation rate that is likely to remain well below the ECB's price stability target, the key interest ...
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Eurozone: the shape of things to come
Public Finance International
Since the sovereign debt crisis hit the euro area in 2010, most attention has been paid to crisismanagement decisions, i.e. financial aid packages, debt restructuring or behind-the-scenes-action by the European Central Bank. In order to fully ...
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Analysis - Euro zone survival? Depends on where you work
Interactive Investor
LONDON (Reuters) - Three years into an unresolved euro zone crisis, Reuters polls show a marked split on the future depending on whether forecasters are based inside or outside the currency bloc. What sort ...Last June, when the sovereign debt crisis ...
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ECB: Euro Crisis Weakened Euro's Role as Reserve Currency in 2012
Wall Street Journal
The Frankfurt-based central bank blamed one of its favorite 'betes noires'--the fragmentation of euro-zone financial markets--for most of the decline, pointing to the fact that the fortunes of reserve currencies are tied, as a rule, to the existence of ...
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Euro zone finance ministers to debate Greece and Portugal
Irish Times (blog)
Eager to avoid a reawakening of the bloc's debt crisis and mindful of elections in Germany in September,euro zone finance ministers meet at 2pm (Irish time) and will also want to hear from Portugal after last week's political upheaval. “This is a ...
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Portuguese Coalition Works to Survive
Wall Street Journal
... leaders worked to preserve the country's strained governing coalition late Wednesday, after the resignations of a pair of key ministers touched off a deep swoon in European financial markets and hinted at a reawakening of the euro zone's debt crisis.
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Cyprus launches criminal probe to dig deeper into financial collapse
Reuters
Cypriot authorities were forced to seize uninsured deposits at its two main banks in March to qualify for 10 billion euros in aid from international lenders, the first time bank savers were singed in the euro zone crisis. Islanders still live under ...
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Katainen Monitoring Finnish Debt as ECB Policy Spurs Divide (2)
Businessweek
Finnish Prime Minister Jyrki Katainen said his government is monitoring the nation's housing market to ensure record-low euro-zone rates don't fuel risks that would warrant regulatory intervention. “It's certainly a very sensitive issue for Finland as ...
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Euro crisis threatens to blow up again as eurozone and IMF give Greece three ...
This is Money
The threat of a fresh blow-up in the euro crisis comes amid troubles in other debt-burdened members of the single currency. Portugal's Finance Minister Vitor Gaspar, the architect of its austerity ... But Greece'sfinancial overseers - the IMF, the ...
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Euro-zone bond yields suggest Portuguese fears are spreading
MarketWatch (blog)
Euro-zone bond yields suggest Portuguese fears are spreading. July 3, 2013, 12:46 PM. Tradeweb: Portuguese 10-year bond yields ... Vitor Gaspar, the finance minister, had been the bedrock of the nation's austerity movement, helping put together the ...
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ECB cannot solve euro zone crisis, says Bundesbank chief
Reuters India
"The euro zone is on the mend, it must be at peace, protected, be allowed to heal," Coeure told the same conference on Sunday to explain the ECB's decision to issue such forward guidance, while urging governments to tackle structural problems. The EU's ...
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Portugal's Political Crisis Spurs Funding Dilemma
Wall Street Journal
The resignation of Mr. Gaspar in particular, a widely respected figure in European financial circles, has shaken euro-zone officials, who praised him for flawlessly implementing the country's unpopular bailout program. Portuguese bonds and stocks ...
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Euro zone bonds rally as ECB points to lower rates
Reuters
Portuguese yields also fell with other euro zone debt yields, though shorter-dated maturities underperformed in thin trade as investors fretted the country's political crisis could derail its exit from an international bailout. "I don't think he ...
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Portugal crisis to test ECB´s strategy
Reuters Blogs (blog)
... as a government crisis prompted investors to shun the bailed-out country, raising concerns about another flare-up in the euro zone debt saga. The resignation this week of two key ministers, includingFinance Minister Vitor Gaspar who was the ...
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30 SECOND GUIDE: Eurozone debts
This is Money
The Daily Mail City team explains why the eurozone crisis is far from over and which countries are more at risk. Not that ... The financial markets have been relatively calm because the European Central Bank promised to do whatever it takes to save the ...
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ECB cannot solve euro zone crisis: Bundesbank
NDTV
France: The European Central Bank (ECB) cannot solve the euro zone crisis, Bundesbank chief Jens Weidmann said to economists on Sunday, pressing the bloc's governments to get their economies in shape and tighten their fiscal rules. Mr Weidmann ...
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Portuguese turmoil prompts new euro zone fears
Alaska Dispatch
BRUSSELS, Belgium — Within 24 hours, Portugal has been thrown into political turmoil by the resignation of two key ministers, casting doubt on the country's ability to get its economy back on track and raising fears of a renewed euro,zone crisis ...
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Euro's role in international system shrank in 2012 while US dollar held its ground
Washington Post
FRANKFURT, Germany — International use of the euro slipped last year because of the debt crisis in Europe, but the U.S. dollar held its own as the world's leading currency for reserves held by central banks. Currencies not traditionally used as ...
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Brady Bonds Euro-zone Solutions, Rising Interest Rates Impact on Gold and Silver
The Market Oracle
“Today's conventional view of the eurozone is that the crisis is over – the intense, often existential concern earlier this year about the common currency's future has been assuaged, and everything now is back under control. ... In a nutshell: Ireland ...
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Merkel hosts jobless summit in shadow of Portugal crisis
Reuters
And now Portugal's political crisis, which threatens to upset its economic recovery from the euro zone debt crisis, has cast a shadow over the one-day meeting. Portuguese Prime Minister Pedro Passos Coelho is among those scheduled to attend.
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Euro central banks ring rates revolution
Ninemsn
And political turmoil in Portugal had sparked concern at the prospect of a new flare-up in the eurozone crisis. In response, interest rates on sovereign debt have risen across the euro area -- and in emerging markets -- and financial conditions have ...
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Gold Inches Higher on Return of Eurozone Debt Crisis as Portuguese Bonds ...
The Market Oracle
Gold inched higher in most currencies and gained over 0.5% in euros as the Eurozone debt crisisreared its ugly head again and oil spiked over $102 a barrel. ... For the latest news and commentary onfinancial markets and gold please follow us on Twitter.
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ECB cannot solve euro zone crisis: Bundesbank ... - Yahoo! Finance
Finance: The European Central Bank cannot solve the euro zone crisis, ... against their governmentdebt, as the risk-weight assigned to sovereign bonds is zero.
finance.yahoo.com/.../ecb-cannot-solve-euro-zone-12411740...
XE.com - UPDATE 1-Euro zone slump eases just as debt crisis ...
The euro zone economy looks on track to crawl out of recession in the second ... UPDATE 1-Euro zoneslump eases just as debt crisis returns to haunt progress.
www.xe.com/news/2013/07/.../3425245.htm?...
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