Today: EUROZONE Debt Crisis News, Jun 22, 2011

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Jun 22, 2011

EUROZONE Debt Crisis News, Jun 22, 2011

Hydra-headed Greek crisis rises anew
USA Today
Monday, the IMF warned that failure to contain the debt crisis in the eurozone could "result in large global spillovers." That's why investors remain concerned that the Greekmonster has only sustained a flesh wound and is likely to re-emerge once ...
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USA Today
The Day Ahead: Existing Home Sales & Vote of Confidence
Mortgage News Daily (blog)
Positive feelings on the Greek debt crisis are giving stocks some bounce while benchmarkTreasuries remain bid below 3.00% support. Greek officials have said the country will face default by mid-July if the European Union and the International Monetary ...
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Greek debt crisis 'could wreck eurozone in 5 years' | Mail Online
MailOnline - news, sport, celebrity, science and health stories ... Boris Johnson: Let Greece default on its debts and leave the euro ... Mr Johnson said: 'The euro has exacerbated the financial crisisby ..... until 2am Extraordinary insight into life with the Royals in evocative memoir · He's got his hands full! ...
www.dailymail.co.uk/.../Greek-debt-crisis-wreck-eurozone-5-...
Today: EUROZONE Debt Crisis News, Jun 11, 2011
The United States and Europe hold 48 percent of votes at the ... Lagarde, an adept negotiator with hands-on experience in the euro zone's debt crisis, . ...
www.interalex.net/.../eurozone-debt-crisis-news-jun-11-2011...
Greek leader faces crucial vote on debt crisis
msnbc.com
Euro zone finance ministers on Monday gave Greece two weeks to approve spending cuts and tax increases in exchange for the 12 billion euros in emergency loans, piling pressure on Athens to get its ragged finances in order. After two days of crisis ...
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ANALYSIS: Greek debt crisis hits Europe's economic mood
Monsters and Critics.com
But underlying the scale of the threat posed by the Greek debt crisis, acting head of the International Monetary Fund John Lipsky this week called on Europe to act to stabilize the financial problems facing Athens before it engulfs the eurozone and ...
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EU pushes banks to quantify sovereign debt risks
Reuters
More data on banking book fallout from the euro zone crisis will also help the EBA fulfil another aim -- giving markets enough detail so they can conduct their own tests to include scenarios such as the impact of government defaults. ...
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Merkel says optimistic on Greek crisis resolution
Reuters
By Chris Borowski and Pawel Sobczak WARSAW (Reuters) - German Chancellor Angela Merkel said on Tuesday she was optimistic the European Union would manage to resolve the Greek sovereign debt crisis but said Athens must press ahead with more austerity ...
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Greek crisis crashes on to NZ shores
New Zealand Herald
Euro zone governments have agreed to reinforce bailout funds to boost confidence in their ability to stop the crisis from taking down other countries and to help Ireland and Portugal emerge from theirdebt holes. Greece's financial life support from ...
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Greece Debt Crisis Pushes Danish Euro Opposition
Bloomberg
“As well as the debt crisis in southern Europe and Ireland, the 'no' camp surge is probably also due to the Danish central bank having narrowed the official interest rate spread to the eurozone,” Steen Bocian, chief economist at Danske Bank, ...
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MONEY MARKETS-Exposure to Europe could prove troublesome
Reuters
By Chris Reese NEW YORK, June 21 (Reuters) - US money market funds' exposure to Europecould become a source of trouble if the euro zone sovereign debt crisis heats up again, though most recent signs are that tensions are easing for now. ...
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Japan pledges to support eurozone
AFP
TOKYO — Japan will continue to support Europe in its battle to contain a debt crisis, finance minister Yoshihiko Noda said Tuesday, as eurozone officials try to avoid a potentially damaging Greek default. Japan has previously pledged to help boost ...
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China says willing to help economic growth in Europe
Reuters
Last week, China's central bank urged European governments to contain debt levels or risk worsening the region's unfolding debt crisis. China signalled in April that it could buy more debt from the euro zone's weaker states. ...
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Europe and America: The Global Debt Crisis
Center for Research on Globalization
by GEAB On December 15, 2010, in the GEAB N°50, LEAP/E2020 anticipated the explosion of Western government debt (1) in the second half of 2011. We were then describing a process that would start with the European government debt crisis and then set ...
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What the Mainstream Financial Media Seems to be Missing
Investorplace.com
The Greek crisis dominated the international news last week, but in the end, German Chancellor Angela Merkel caved in and abandoned her hard-line stance, allowing a rollover of Greek debt to private creditors. The reason that Ms. Merkel was playing ...
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EU agrees 700 bn euro bailout plan for debt-ridden nations
Moneycontrol.com
It was set up a year ago to prevent the debt crisis in Greece from spreading to other debt-ridden countries in the euro zone such as Ireland and Portugal. The EU finance ministers finalised the terms of the proposed rescue fund as Greece struggled to ...
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Aussie Fluctuates as Reserve Bank Cites European Debt Turmoil
BusinessWeek
... fluctuated after the Reserve Bank said in minutes of this month's meeting it was “prudent” to keep interest rates unchanged on concern Europe's debt crisis will worsen. “The RBA highlights risks in the global economy and the euro-zone debt crisis, ...
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Can Sesame Street Help Europe's Finance Ministers Understand the Debt Crisis...
Wall Street Pit
Well, Mr. Junker, not only have we – the scholars of MMT – explained why the debt crisis hit members of the Eurozone, we also predicted that the design of the euro system would lead, precisely, to this outcome. Even before the launching of the euro, ...
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Finland says banks, ECB to take hit from debt crisis
Financial Mirror
The European Central Bank like commercial lenders faces the risk of writing down the value of some of its assets due to the debt crisis gripping Greece and other euro zone members, Finland's finance ministry said on Monday. In a quarterly report on the ...
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Fitch Warns Against Rollover of Greek Debt
New York Times
On Tuesday, in an interview with a senior executive published by the German newspaper Die Welt, S.&P. reaffirmed that a voluntary debt restructuring for Greece, as currently foreseen by euro zonegovernments, would probably be deemed a default. ...
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CANADA STOCKS-TSX may open higher on hopes for Greek crisis fix
Reuters
N] * Battered European shares rose on expectations that policymakers can come up with a solution to save Greece from missing its July debt payment and avoid short-term contagion risk to euro zone peripheral countries. [.EU] * Asian market rose and ...
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Stocks Gains as Greek Debt Crisis Eases, Home Sales In Line; Fed Meeting Ahead
NASDAQ
Stocks are higher in mid-day trading as sales of existing homes in May fall, but meet expectations, while investors focus on Greece, which received more assurances from Euro nations on additional aid to ease its debt crisis. Existing home sales slipped ...
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OIL FUTURES: Crude Settles Slightly Higher As Greek Crisis Looms
Wall Street Journal
By Jerry A. DiColo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Crude futures ended slightly higher Monday, pausing as investors await more signals on whether the European Unioncan successfully manage Greece's debt crisis. Light, sweet crude for July ...
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IMF Urges Spain To Redouble Economic Reform Efforts
Wall Street Journal
By Jonathan House Of DOW JONES NEWSWIRES MADRID (Dow Jones)--Against the backdrop of a flare-up in Europe's Greece-centered sovereign-debt crisis, the International Monetary Fund Tuesday urged Spanish policymakers to redouble their efforts to overhaul ...
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Banco Santander: Best Bank in Europe
Seeking Alpha
The debt crisis and the uneasiness of the euro have created plenty of pessimism towards many European banks. However, one bank has stood out above all else and has continued to grow at a feverish pace. Banco Santander (STD) looks to be one of the safer ...
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India forex Advisors/ Market commentary/ 21_june_2011
International Business Times
EUR/USD: Euro is currently trading at 1.4331 levels. Risk appetite resumes and the currency is positive vs. the dollar on a comment from an EU official who said Italy should be unaffected by debt crisis and private investors will be involved in any ...
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Economic Historian: 'Germany Was Biggest Debt Transgressor of 20th Century'
Spiegel Online
But it also meant that the victims of the German occupation in Europe also had to forgo reparations, including the Greeks. SPIEGEL ONLINE: In the current crisis, Greece was initially pledged €110 billion from the euro-zone and the International ...
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Gold logs sixth-straight winning session
MarketWatch
By Myra P. Saefong and Claudia Assis, MarketWatch SAN FRANCISCO (MarketWatch) — Gold futures closed higher Tuesday, as lingering concerns about Greece's sovereign-debt crisis and its potential impact on the global economy helped lift prices for the ...
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S'pore dollar, ringgit down on EU woes
AsiaOne
The Singapore dollar and the ringgit slid as interbank speculators covered dollar-short positions with eurozone finance minister failing to soothe worries about Greece debt crisis. The local currencies are likely to stay weaker, tracking a weaker euro, ...
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Oil prices fell on Friday
FXstreet.com
by HY Markets Research Team - HY Markets | View company's profile Crude Oil – Oil prices fell on Friday, with US crude slumping to a four-month low under $93 as a dimmer economic outlook and the European debt crisis drove crude to its biggest weekly ...
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NZX50 falls as ASX lifts 1.3pc
National Business Review
Some global markets may have been directionless -- milling around as the eurozone focused on the Greek debt crisis -- but the NZX knew where it was going: down. The NZX50 benchmark index fell 7.9 points -- 0.229 percent -- in today's session, ...
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Macroeconomic environment supportive for gold price
IBTimes
This comes at a time when the eurozone's finance ministers are struggling to contain the fallout from the Greek debt crisis. Greek citizens have been rioting against the European Union and International Monetary Fund's austerity conditions attached to ...
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New wave of global crisis looms
The Voice of Russia
Nouriel Roubini, a leading US economist who predicted the 2008 financial crisis, has warned about what he described as a “perfect storm” of threats brewing, which, he says, could slam the global economy as soon as 2013. The key woes are debtproblems ...
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Top 5 European Mutual Funds
Zacks.com
... after key euro-zone members seemed closer to reaching an agreement on Greece's bailout package. The US, Canada and Japan have urged European G-7 members to reach an agreement on the regions' sovereign debt crisis, fearing its global impact. ...
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Allianz CFO: Greek debt haircut is wrong solution
MarketWatch
... would push Europe deeper into the crisis." A haircut would likely result in dramatic losses for financial institutions exposed to Greek debt if implemented as one solution for Greece. Rather than pursue a much-feared haircut, euro zone leaders, ...
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No2EU calls for EU exit referendum
Morning Star Online
Faced with surging discontent on the Tory benches over EU policies and the impact of the eurozone crisis Mr Cameron reiterated: "As long as I am Prime Minister, there is no prospect of Britain joining the eurozone." Left Labour MP Kelvin Hopkins warned ...
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Euro exit strategy crucial for Greeks
The Guardian
Europe will suffer catastrophic problems because of the failure of the EU. A guide for modern Greeks who wish to deal effectively with the Greek crisis - in or out of theEuro. By *Helianthe of Elea* 1. Dealing with the pain and anxiety caused the ...
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EMERGING MARKETS-Latin American stocks rise on Greece hopes
Reuters
... euro zone's first sovereign default. [ID:nL3E7HL0BG] "Today the eye of the storm is in Europe," said Otavio Vieira, director of investments at Safdie in Sao Paulo, calling Greece's debt crisis the European version of the US subprime lending crisis. ...
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S&P restates political threat to U.S. AAA rating
Reuters
Kraemer also said there was little progress in resolving Greece's debt crisis after a weekend meeting of EU finance ministers deferred a decision to give Athens funding to avoid defaulting next month. All but one of the 400 participants at the panel ...
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Gold Rises to New Record in British Pounds
Seeking Alpha
The euro zone debt crisis is creating the real risk of global financial contagion. Interbank and commercial paper markets are increasingly nervous about the ghosts of the Lehman Brothers collapse. Silver continues to consolidate between $33/oz and ...
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Europe fiddles while crisis strains EU principles
MarketWatch
The Irish point out that by carrying the debt, they are in effect bailing out the French and German banking system, and are demanding that the debt be “Europeanized”. The greatest irony at the heart of the crisis is that just as ordinary Europeans lose ...
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USD/CAD Daily Fundamental Analysis For June 21, 2011
Daily Markets
The current market conditions are still rather shaky, where pessimism from the Euro Zone debt crisis and mounting concerns over the outlook for global growth continue to push investors away from risky assets into low yielding and more safe ones, ...
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Timeline: Greece's journey to the edge of euro disaster - Haaretz ...
By haaretz
Timeline: Greece's journey to the edge of euro disaster. Greece is on the verge of a potentially catastrophic default that could rupture the eurozone, just 10 years after joining the single currency. 1 January 2001: Greece joins the ... 23 April: Greece activates €45bn EU/IMF loans. Papandreou turns to the International Monetary Fund for help, after Greece is priced out of the international bond markets. 2 May: EU debt crisis – Greece granted €110bn aid to avert meltdown ...
Haaretz Daily
Germany's debt crisis leadership under fire | The Associated Press ...
By The Associated Press
Since the Greek debt crisis exploded towards the end of 2009, the European response has been marked by bouts of indecision and procrastination, whether it be about the merits of bailouts themselves, the role of the private sector or on ...
Examiner AP RSS
Greek crisis: EU leaders must act decisively or face disaster ...
By Chris Jones
The International Monetary Fund has warned European leaders that their hesitant response to Greece's debt crisis risks triggering the world's second global financial meltdown in three years. AsEU finance ministers scrambled to build a ...
THE HOT JOINTS
Confidence vote today on new Greek Cabinet, and other debt crisis news
By lgazissax
Confidence vote today on new Greek Cabinet, and other debt crisis news. June 21, 2011 by lgazissax. When the hockey riots hit Vancouver last week, one of Joel's friends Tweeted, “Canadians are rioting? ... I'll have an upcoming post in which I try to pull together a full summary of just what austerity measures Greece has already had to undertake, as a condition of getting EU/IMF bail out money, but for now, here's just a quick summary of what's going on. ...
Alexandria
Financial Tides -- A Stock Market Investing Newsletter by Jim Van ...
By Jim Van Meerten
Papandreou is struggling to convince Greeks to accept a 78 billion-euro ($112 billion) package of state-asset sales and budget cuts in order to receive additional funds from the EU and the IMF. Fitch Ratings said Greek banks could avoid ... Asian stocks gained as concern eased Greece will default on its debt after the leader of the Euro-Zone finance ministers, Jean-Claude Juncker, said a solution to the crisis will be found. Mining companies and energy producers closed ...
Financial Tides -- A Stock Market...
Flaherty sees danger of contagion from European sovereign debt crisis
Canadian banks — which invest in Eurozone bonds — have been ranked as some of the most financially sound in the world. But even they are not immune to the possibility of Greece's debt crisisspreading beyond its borders, Flaherty said. ... The region's finance ministers have signed off on important changes to their bailout funds, which they hope will reinforce confidence in the eurozone'sstruggling economies even though the Greek crisis is at a new boiling point. ...
Investment Executive - News
Wall Street rallies in anticipation of Greek vote - Best Growth ...
By apons80
Consensus grew that Prime Minister George Papandreou's cabinet would survive the vote, easing fears about the euro zone debt crisis that have weighed on the market for months and contributed to the S&P's 5 percent drop since the start of May. “While the issue isn't fully resolved, ... Officials said the Greek government had until July 3 to approve new steps to get the next installment of 110 billioneuros in aid from the European Union and International Monetary Fund. ...
Stock Market News
England Expects: Thems that own your debt owns you
By Gawain Towler
We have supported other countries, especially European countries, in their efforts to surmount the financial crisis," Fu said. "We have, for example, increased holdings of euro debt and promoted China-European Union trade." ... Since euro zone debt worries first rippled through markets last year, China has repeatedly said that it has confidence in the single-currency region. "We have hoped to help euro zone countries in overcoming the crisis, and this is also a measure ...
England Expects
Can Sesame Street Help Europe's Finance Ministers Understand the Debt
By Economic Perspectives from Kansas City
Well, Mr. Junker, not only have we – the scholars of MMT – explained why the debt crisis hit members of the Eurozone, we also predicted that the design of the euro system would lead, precisely, to this outcome. Even before the launching ...
New Economic Perspectives
Europe: Lord Stirling's News Blog EUROPE
By Lord Stirling
Lord Stirling's news blog EUROPE. EU gives Greece ultimatum ~ link ~ The debt is a result of fraud upon the people of Greece by the Global Banking Cartel and the corrupt Greek politicians, something that is common throughout the world. .... This is the real crisis in the eurozone. A young generation lost, without work. The figures are staggering. In Spain unemployment for 16 to 24 year olds is running at 43%. In Italy it is more than 25%. In Europe millions of highly ...
Europe
IMF: Euro Zone Debt Crisis Threatens Global Economic Recovery
IMF Says Debt Crisis May Overwhelm Favorable Euro-Area Outlook. ... FREE NEWS ALERTS ...The International Monetary Fund warned that Europe's debt crisis has the potential to crush the otherwise positive economic outlook for the region ...
www.moneynews.com/Headline/IMF-Euro-Zone.../400638
IMF: euro zone debt crisis threatens economic reco... - Silobreaker
IMF warns of eurozone debt crisis spillover - [1 hour ago - IrishExaminer.com Business] ... Greekdebt crisis: Ministers plan for 'death of euro' .... Mixed news from the Eurozone [Published May 13 2011 by The Coffee House | Politics ...
www.silobreaker.com/imf-euro-zone-debt-crisis-threatens-eco...

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