Today: EUROZONE Debt Crisis News, Jun 13, 2011 (2)

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Jun 13, 2011

EUROZONE Debt Crisis News, Jun 13, 2011 (2)

In Greek Crisis, Political Leaders Are Playing for Time
New York Times
By PAUL TAYLOR | REUTERS PARIS — “When will the euro zone debt crisis end and how will we know it?” A reader's e-mailed question cuts through the daily dramas of the financial soap opera that has kept European investors glued to their screens for the ...
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EURO GOVT-Peripheral CDS at new highs as Greek worries fester
Reuters
Volumes were thinned as a result of public holidays in parts of Europe, although financial markets remained open. Recent data showing weak spots in the US economy -- along with the euro zone debt crisis, Japanese recession and turmoil in the Middle ...
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Europe economy is as homogenous as U.S.: Trichet
MarketWatch
By Steve Goldstein, MarketWatch WASHINGTON (MarketWatch) — The Greek debt crisis has reinforced criticism that the European economy is just too diverse for a single currency. Not so, according to Jean-Claude Trichet, the European Central Bank...
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Roubini sees "meaningful probability" of China hard landing
Reuters
By Kevin Lim SINGAPORE (Reuters) - China faces a "meaningful probability" of a hard economic landing and the euro zone is storing up problems for the future by not tackling the debt crisis head on, said Nouriel Roubini, the economist who predicted the ...
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Interview transcript: Yngve Slyngstad
Financial Times
FT: How concerned are you about the eurozone debt crisis and are policymakers doing enough to tackle it? YS: Well I think this is obviously an enormous challenge for the European Union and theeuro area specifically. However, with our time horizon ...
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Greece says S&P overlooks efforts to overcome crisis
Chicago Tribune
ATHENS (Reuters) - Greece said on Monday the move by Standard & Poor's to cut its rating to the lowest in the world overlooked intense deliberations at the European Union and the IMF to find a viable solution to its debt crisis. ...
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Spain Must Take the Lead in Europe
Carnegie Endowment for International Peace
Third, Spain can allow domestic unemployment to rise, usually by raising interest rates sharply (although as a member of the eurozone this option is very difficult to implement except when a debt crisis forces up Spanish rates). ...
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MCX Gold falls on Euro debt crisis
Commodity Online
Gold traded volatile on Monday and gave up early gains despite a rebound in the euro against the US dollar. Prices are currently lacking impetus to surpass recent peaks and sustain an uptrend fuelled largely by a debt crisis in Europe. ...
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The Eurozone Heads for Break Up
EconoMonitor
The muddle-through approach to the eurozone crisis has failed to resolve the fundamental problems of economic and competitiveness divergence within the union. If this continues the euro will move towards disorderly debt workouts, and eventually a ...
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Greece downgraded again by S&P
Financial Times
Bankers say order books could rise to as high as €10bn, despite the gravity of the currency club'sdebt crisis, which has reached yet another critical juncture amid rows between policy-makers over a second bail-out for Greece. Although this second bond ...
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Europe Stocks Seen Higher After 3-Month Closing Low
CNBC.com
European stock index futures pointed to a lower open on Monday, adding to the previous session's sharp sell-off, on mounting worries over the health of the global economy and concerns over Greece'sdebt crisis. [.GDAXI Loading. ...
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Why debt rescues will boost the scenario of a closer union
Financial Times
By Wolfgang Münchau Last week, I promised to give further details for my end-game scenario for theeurozone crisis. My premise was that the eurozone will eventually agree another Greek loan this summer. Despite an incredible amount of noise, ...
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East European states push back euro adoption
Financial Times
But the spread of the eurozone crisis from Greece to Ireland and Portugal has over the past year highlighted the pitfalls of membership, and the need for deep reforms of the bloc's governance. Eastern European states have also observed the examples of ...
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Roubini Says “Everybody's Kicking the Can Down the Road”
GoldAlert
As for Europe, Roubini predicted further problems as euro zone policymakers continue to grapple with the sovereign debt crisis in Greece and other members of the PIIGS. The NYU economist contended that officials need to restructure the debt of Greece, ...
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Greek Default Will Not Affect Euro Stability: ECB's Weidmann
RTT News
Referring to the Greek crisis, he also indicated that there is nothing wrong in making private creditors share the burden as such a move will relieve the tax payers. A country should not be made liable for the debt of another, he added. ...
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The bubble end point
Asia Times Online
This dynamic went to devastating extremes during the 2008 crisis - only to begin mount a resurgence with last year's Greek debt crisis and contagion. It has been my thesis that last year's aggressive market interventions - the second round of the Fed's ...
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EUROPEAN OPENING NEWS INCLUDING: Spain is planning to offload Madrid and...
Proactive Investors UK
Asked whether the Eurozone debt crisis could threaten Germany's economic recovery, Merkel said: “If we don't take action in a positive way, that could happen, but it is exactly what we want to prevent.” (FT-More) EU leaders are due to finalise a new ...
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FTSE stages modest recovery, led by ENRC
Reuters
I think the general consensus around Europe is that at some stage, Greece is likely to default." The cost of insuring peripheral euro zone bonds against default hit record highs on Monday as disagreement over how to tackle Greece's debt crisis ...
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Value of Greek debt cut to record low
European Voice
... the introduction of the euro. The move came as Eurozone finance ministers prepared for a hastily arranged meeting in Brussels tomorrow (Tuesday) to discuss the ongoing problems in Greece and the wider sovereign-debt crisis affecting the eurozone. ...
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Limits of Monetary Policy
Business Insider
... both on Europe's side. First are the interest rate hikes by the ECB. Even without QEII, this would be a euro positive development, at least in the short-to-intermediate term. Second, is the unresolved nature of the European debt crisis. ...
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Daily Market Outlook
FXstreet.com
Earlier in the day, despite staging a modest recovery to 1.4552, active selling by a major bank in Asian morning pushed price lower, intra-day decline gathered pace in Europe on Greek debtconcern as there was lack of unity among Eurozone officials ...
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A time for Australia's consolidation, not isolation, on carbon emissisons
Sydney Morning Herald
Second, western Europe is still facing a banking and sovereign debt crisis. The dire state of the economies of Greece, Ireland, Portugal and Spain is placing pressure on the euro if not the health of the euro zone itself. Britain, Europe's second ...
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Stock Futures Little Change as Economic Fears Weigh. Stocks to Watch: AAPL ...
TradersHuddle.com
Sentiment was under pressure amid weak data in Asia and fears over the euro zone debt crisis, which heightened risk aversion. In Asia, the main equity markets finished mixed. The Nikkei under performed hurt by a surprise fall in Japanese machinery ...
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Levels of Recovery Varying
Beijing Review
Although steps being taken by authorities to resolve short-term problems in the euro zone should prevent an acute crisis, a loss of confidence could have negative implications for developing countries. Further financial stresses may emerge, ...
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China: Property Peak, Growing Unrest and Other Tidbits
Seeking Alpha
What we're talking about, down the road, is a profound realignment of interests in Central Europe — one that eventually may call into question the integrity of NATO and the EU. In the wake of reunification and the euro-zone debt crisis, ...
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Copper slips
Independent Online
The euro eased against the dollar and fell towards record lows versus the Swiss franc on Monday as bickering between euro zone policymakers over the Greek debt crisisled investors to cut exposure. Most of mainland Europe is shut for a long weekend to...
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US Dollar Up Against All Major Currencies
Voxy
Yields on Portuguese and Irish debt were dragged up to above 11% in sympathy. Trading levels in peripheral European debt have dropped to the lowest level on record. Uncertainty regarding the final resolution in European sovereign debt crisis remains ...
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First Capital Spending Gains in Four Years Showing Europe Rally Sustained
Bloomberg
“We're focusing on the near-term burden of the euro-zone debt crisis. The market will trade lower in the summer. If the tensions would escalate, then our year-end target would be at risk.” The Stoxx 600 has dropped 7.9 percent since Feb. ...
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Crisis must not endanger economy: Merkel
China Post
A strong recovery in Germany, Europe's biggest economy, has yet to be dented by debt woes elsewhere in the 17-nation eurozone. Asked in her weekly video podcast whether the crisis could endanger Germany's upswing, Merkel replied “if we don't act right, ...
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INSIGHT-Lessons for Greece from Latin American debt crises
Forexyard
By Walter Brandimarte NEW YORK, June 12 (Reuters) - European policymakers scrambling to find a solution to Greece's debt crisis should probably look to Latin America. Uruguay, for example, was able to pull off one of the smoother sovereign debt ...
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World stocks hit 12-week low
National Post (registration)
Against the dollar it was up around 0.1% at US$1.4360, finding support on expectations that euro zone interest rates would remain higher than those in the United States. Five-year credit default swaps on Greek sovereign debt rose 58 basis points on the ...
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European shares rebound slightly after slide
Lanka Business Online
Markets are increasingly concerned over the state of the global economy, owing to the eurozone debt crisis and slower growth in the United States and China. Traders appeared to put such concerns to one side on Monday, however, as European indices ...
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NewsDaily: "Meaningful probability" of a China hard landing: Roubini
By Kevin Lim
China faces a "meaningful probability" of a hard economic landing and the euro zone is storing up problems for the future by not tackling the debt crisis head on, said Nouriel Roubini, the economist who predicted the global financial crisis . ... The EU is currently thrashing out a second package for Greece to ensure the country is funded through 2014 but many analysts believe Athens will struggle even then to avoid a harsh debt restructuring in the future. ...
NewsDaily: Top Headlines
Weekly Fundamental FX Preview – Monetary Policy Decisions and the ...
A combination of central bank monetary policy decisions and the Greek debt crisis may be the key drivers in this week's FX trading. While this week's. ... The UK, US, and the euro zone are set to release CPI numbers throughout the week. Both the US and the EU have firmly anchored inflation expectations as was emphasized by their respected central bankers last week. For the UK the Bank of England continues to maintain the position that inflationary pressures will be ...
InvestorGuide
The euro is dying a slow death « Euro Area Debt Crisis by ...
News and views from the euro area's debt crisis. Search: ... creating the current euro crisis, and the eurozone will eventually break up as a result. ...
economistmeg.com/2011/06/.../the-euro-is-dying-a-slow-death...
Sovereign Debt Crisis - Weird News
The slow motion train wreck that is the Eurozone continues to roil bond markets, .... Greek Debt Crisis Gets Steadily Worse Amid a Sea of Fiscal Deception ...
www.weirdnews.aol.com/tag/sovereign-debt-crisis
The European Debt Crisis – A View from Hungary - Hungarian Review
European events dominate the economics news because of a growing number of financially ... TheEuro zone crisis broke out, somewhat unexpectedly, in late 2009 in ... The European sovereigndebt crisis is as much a crisis of market ... It has taken the EU a considerable amount of time to recognize these dual tasks. ...
www.hungarianreview.com/.../the_european_debt_crisis_a_vi...
Newsvine - Analysis: Europe muddles towards perma-crisis on Greece
For now, the EU seems determined to give the patient more pain-killers rather than ... "When will theeuro zone debt crisis end and how will we know it?" ...
www.newsvine.com/_.../6848098-analysis-europe-muddles-to...
Obama presses Europe, pledges help for Greek crisis - 1330 WHBL ...
Obama presses Europe, pledges help for Greek crisis ... ballooning U.S. debt, has pinpointed theeuro zone crisis as one foreign "headwind" hitting the U.S. ...
www.whbl.com/.../obama-says-europes-debt-crisis-must-be-co...
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