Today: EUROZONE Debt Crisis News, Jun 23, 2011

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Jun 23, 2011

EUROZONE Debt Crisis News, Jun 23, 2011


Global FX & Fixed Income News
Wall Street Journal
Spot gold traded only marginally lower in London after Greece's Prime Minister George Papandreousurvived a confidence vote and a trader said with the debt crisis still far from over across the euro zone, any dips are likely to continue to find buyers. ...
See all stories on this topic »Dollar Holds Steady After Euro Vote Relief, Before Fed Decision

FXstreet.com
While there are certainly a number of financial concerns around the global markets (Chinese markets stalling, European debt crisis, etc); the New Zealand dollar's yield doesn't seem to be at direct risk from any one development. ...
See all stories on this topic »Recap: Ben Bernanke's Press Conference
Wall Street Journal (blog)
Bernanke confirms that some of the concern is about 2012 (in addition to 2011), but that growth in 2013 is expected to be stronger. by Sudeep Reddy Hot issue, little insight: The FOMC did discussEurope and the Greek crisis at its meeting today. ...
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Foreign Exchange Insight : Greek Vote of Confidence Spares the EuroFor Now ...
Currency News
However, Greece's debt woes are not yet over, even though Eurozone Finance Ministers agreed in principal to arrange a second Greek bail-out when they convenedon Sunday. The second bail-out would be partly voluntarily financed by private investors who ...
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Currency News
UPDATE 1-Trichet-Debt crisis warning light flashing red
Reuters
FRANKFURT, June 22 (Reuters) - The warning lights are flashing red on the euro zone's debt crisis, Jean-Claude Trichet, head of Europe's new super-watchdog and European Central Bank President said on Wednesday. "On a personal basis I would say it is ...
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European press agonises over Greece and euro crisis
BBC News
But he still has to get another unpopular package of austerity measures adopted, to keep the EUbail-out money coming. Here is a selection of European media comments on the Greek debt crisis. No one cares about who said what and who's to blame for the ...
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Greek debt crisis: Bring down the curtain on this tragedy
Daily Mail
And to the euro as well — and beyond that to the EU itself. You can see why EUleaders are panicking about the Greek crisis and what it might eventually do to the whole Brussels apparatus. Maybe some states would not prove too enthusiastic about an ...
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Daily Mail
Greek Debt Crisis Tipping Point
Council on Foreign Relations
Sebastian Mallaby, Director of the Maurice R. Greenberg Center for Geoeconomic Studies and Paul A. Volcker Senior Fellow for International Economics The Greek sovereign debt crisis has entered a critical phase. The four protagonists--the Greek ...
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EU leaders to discuss Greek debt at dinner- Greek official
Reuters
ATHENS, June 22 (Reuters) - EU leaders will discuss the Greek debt crisis and ways to involve private sector creditors in a second EU-IMF bailout for the debt-laden country over dinner at a summit this week, a Greek official said on Wednesday. ...
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Nordic Credit Markets See Small Greek Contagion Risk, Fitch Says
Bloomberg
“Most market participants do not see a high risk of further euro-zone contagion but they do believe the protracted euro-zone crisis is the main threat to European credit market stability,” Fitch said. Concern that Greece will trigger a deeper debt ...
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Copper Falls as Debt Crisis May Slow Metals Demand: LME Preview
San Francisco Chronicle
June 22 (Bloomberg) -- Copper fell in London on speculation Europe's debt crisis will slow growth and demand for industrial metals. -- Greek Prime Minister George Papandreou won a vote of confidence, bolstering his new government's chances of pushing ...
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Japan vows to buy more euro debt
TODAYonline
TOKYO - Japanese Finance Minister said on Tuesday the country would increase its lending to a European rescue fund to help resolve Greece's intensifying debt crisis, highlighting his concern over the potential impact of the continent's financial ...
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RPT-UPDATE 5-Europe pushes banks to share Greek bail-out pain
Reuters
Germany invited private creditors to a meeting, a letter seen by Reuters showed, to discuss their voluntary support for the debt-struck country. Other euro zone countries, including France and the Netherlands, held similar discussions. ...
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Please stop patronising us Greeks
The Guardian
The latter is the continuation of war by other means, you see, as EU technocrats are really the modern reincarnation of the Wehrmacht, and the Greek government their lackeys, the modern quislings. Well, we didn't need the debt crisis to learn that ...
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The Guardian
IP Comment: Problems ahead for eurozone
Irish Post
REGRETTABLY, there probably is no good solution to the Greek debt crisis. The Greek government borrowed too much, international banks — particularly the Germans and the French — lent them too much, and Greece has been unable to service the loans. ...
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EU's Rehn Begs For Deal On Economic Reform Legislation
Wall Street Journal
BRUSSELS (Dow Jones)--European economics commissioner Olli Rehn Wednesday beggedEuropean Union lawmakers to compromise on legislation aimed at preventing a repeat of the euro-zone sovereign debt crisis. In blunt language, Rehn warned that failing to ...
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For a new narrative on the euro zone
EurActiv
How can we ensure the long-term sustainability of the euro zone? How should we deal with cases of sovereign debt crisis? How can we create a new positive momentum? The euro is a must forEurope because it makes easier the circulation of goods, ...
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Greeks bear a small gift to world indices
Sydney Morning Herald
Macquarie Private Wealth division director Martin Lakos said the S&P/ASX 200 was still on track for gains in the second half of this year, despite the Greek debt crisis threatening to derail Europe'sbanking system and possibly the global recovery. ...
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Spain's FCC to seek overseas financing
Reuters
Internationalization of funding projects is becoming more and more necessary for Spanish companies due to the euro zone sovereign debt crisis that has forced financial rescues on Greece, Ireland and Portugal and threatens to spill over into Spain. ...
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There is no Plan B for Greece -- European Commission
Reuters
BRUSSELS, June 22 (Reuters) - Greece has clear objectives that it needs to achieve if it is to overcome its debt crisis and there is no alternative to meeting those goals, the European Commission said on Wednesday. "There is no alternative. ...
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EU, Mercosur Talks Struggling to Stay Alive
Bridges Weekly Trade News Digest
Negotiations for a trade agreement between the EU and South American trade bloc Mercosur are approaching yet another impasse, just a year after re-launching the talks. The discussions have been plagued by the worsening euro zone debt crisis, ...
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Strong rebound in metals likely on the way: Desjardins
Globe and Mail
“If, as seems likely, a solution to the European debt crisis can be found in the near term, the metal markets should then focus on robust European metal demand - which should translate into higher prices.” Upside: Desjardins has “buy” ratings on the ...
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Greek cabinet approves austerity budget
Telegraph.co.uk
The euro slipped against the dollar on Wednesday as investors who bought the single currency following the vote of confidence took profits, signalling market concerns that the eurozone debt crisis is far from over. George Papandreou, the prime minister ...
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Telegraph.co.uk
World's largest bond fund predicts default for Greece “and other European ...
MercoPress
The head of PIMCO, the world's biggest bond fund, predicted that Greece and other European economies would default on their debts to resolve their problems as the Euroarea deals with its debt crisis. Greece's government won a vote of confidence late ...
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MercoPress
Greece and the "quit the euro" debate
Workers' Liberty
Japan is in renewed outright recession this year, partly but not only because of tsunami damage, and it suffered much bigger output losses in 2009 than Europe. The crisis is, however, special in the eurozone. In the first decade after the euro was ...
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Workers' Liberty
New Portuguese PM pledges end to debt 'drunkenness'
MSN Philippines News
The debt crisis in Portugal, alongside the crisis in Ireland and the most serious crisis in Greece, is causing deep concerns internationally about the resilience of the entire eurozone. Coelho heads a centre-right Social Democratic and right-wing ...
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PRECIOUS-Gold steady ahead of Fed, near 2-week top
Reuters
Gold priced in sterling struck a lifetime high around 954 pounds on Wednesday, fuelled by lingering worries about the debt crisis in Europe. Greece's government will approve its new austerity package on Wednesday after it survived a confidence vote, ...
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TREASURIES-After Greek vote, spotlight shifts to Fed Q&A
Reuters
Traders said they expected volume to pick up again on Wednesday once the outlook on Greece'sdebt crisis was clearer. "We would expect that we would see higher rates by the morning unless another big event happens," said Michael Pond, Treasury and ...
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FOREX-Dollar flat vs euro as Fed drops no stimulus hints
Reuters
Interest rates differentials favor the euro given the European Central Bank is already on a path of monetary tightening. Low interest rates diminish the allure of dollar-denominated assets. Greece'sdebt crisis continues, however, to dog the euro. ...
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Greece crisis played down
The Nation
By The Nation Greece's debt crisis could shake the global financial markets, but it is not a worrisome risk for Thailand because of its minimal exports to the debt-ridden nation, the Bank of Thailand said yesterday. The Thai central bank has been ...
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ECB FOCUS - France may lose out as Bini Smaghi stays put
Reuters
... Friday's summit of European leaders, which is scheduled to endorse Draghi's appointment as ECB president, derailing the process has become inconceivable, since it would cause a leadership crisisat the ECB in the midst of the euro zone debt crisis. ...
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analysisGreek debt will be paid, but by whom?
CBC.ca
It's total debt load now sits at 144 per cent of its total economic output, the EU'sstatistics office Eurostat estimates. Essentially, EU membership gave Greece a credit card with a limit that was too high. After the economic crisis hit it could not ...
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CBC.ca
IMF head: risk to core economies frets EU partners
Reuters India
By Annika Breidthardt BERLIN (Reuters) - The International Monetary Fund's acting head John Lipsky said on Tuesday the euro zone's partners were concerned about the potential for the crisis in the zone's peripheral economies to spread to core countries ...
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Equities buoyed as fears ease over Greece
Financial Times
By Dave Shellock A more optimistic view of the Greek debt crisis, and a burst of bid and merger activity, combined to lift global equities, commodities and the euro. After markets had closed in New York, a critical vote of confidence by Greece's ...
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The EU Should Follow Russia's Fiscal Restraint
The Moscow Times
By Anders Aslund Watching the current euro-zone crisis unfold, Russians can proudly say they eliminated their public debt. By contrast, the euro-zone decision makers have made nearly every conceivable mistake, and they keep repeating them. ...
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Underweight on India within regional equity portfolios: Geoff Lewis, JP Morgan ...
Economic Times
We are not talking about the peripheral economies in Europe getting back to sustainable fiscal positions until 2014-2015. What this means is that there is going to be volatility caused by the Euro zone sovereign crisis, which will occasionally affect ...
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Henderson's McQuaker boosts European exposure
FT Adviser
Henderson Global Investors' head of multi-manager Bill McQuaker has boosted his European exposure in spite of the ongoing eurozone sovereign debt crisis. The manager has boosted Europein his £661.3m Income & Growth and £427.5 Active funds, ...
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Economic Crisis Spreading? Moody's Threatens to Downgrade Italy
theTrumpet.com
And it may not be running a large budget deficit, but the government's debt is 120 percent of gross domestic product. The worries about Italy and Belgium show that the euro crisis is far from over. For more information on the importance of closely ...
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Protests mount ahead of EU summit
Europolitics.info
It also suggests that Europe's leaders: 1. place social and sustainable development, respect for human rights and solidarity at the heart of the EU's response to the crisis; 2. demonstrate that the poverty reduction target adopted at the June 2010 ...
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France Seeks Suitable Successor for Lagarde
Wall Street Journal
With no weighty candidate in sight to fill her shoes, her anticipated departure will leave a hole both in President Nicolas Sarkozy's government and at the euro zone table as the Greek crisis intensifies . A fluent English speaker, Ms. Lagarde has seen ...
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China willing to help Europe stabilize economic growth
英文中國郵報
The debt crisis afflicting Greece and weighing on the euro is likely to overshadow his visit. Sinceeurozone debt worries first rippled through markets last year, China has repeatedly said that it has confidence in the single-currency region and ...
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The IMF warns Spain that it faces considerable risks to its recovery
FXstreet.com
The consensus is looking for a drop from -9.8 to -10.4, but we believe a sharper decline is not excluded after the weak economic data of re-cent and the flaring up of the debt crisis in Europe. In the US, the FHFA house price index is expected to show ...
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Crude Oil Futures Advance After Report Showing Decline in US Stockpiles
Bloomberg
... of Greece's debt crisis will spread. “The inventory data today was certainly supportive,” said Sean Brodrick, a natural resource analyst with Weiss Research in Jupiter, Florida. “We're also higher because it doesn't look like the euro zone is going ...
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European Stocks Decline as Philips Shares Plunge in Amsterdam
San Francisco Chronicle
17, the benchmark Stoxx 600 has tumbled 7.6 percent as US economic data trailed forecasts, adding to concern about Europe's debt crisis. Standard & Poor's 500 Index futures slipped 0.1 percent today, while the MSCI Asia Pacific Index advanced 1 percent ...
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Europe's wise men answer: what will happen to Greece?
Citywire.co.uk
That's the risk; if something goes wrong it will be felt in other regions – not just in Portugal and Ireland but in the United States and China.' 'The name of this crisis is a bit misleading as it is not a "euro crisis" but a "debt crisis".'
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London Session: Bernanke faces the press again
FXstreet.com
The caveat is the Eurozone sovereign debt crisis. This is far from over. As mentioned above the Greek PM passed the easier of its two tests earlier. Today the Socialist party will hold a vote on the EUR28bn of cuts and EUR50bn of privatizations ...
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Greece Shows Flaws in European Policy, Says Estonia
Jakarta Globe
"It's an accumulating problem, because the debt burden ends up almost one and a half times more than is allowed by the rules, an average 85 percent of GDP in the EU. The allowed level is 60 percent," Ligi said. "Those countries that during the crisis ...
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Silver-Coin Sales 'Booming' at Perth Mint as Investors Desert Paper Money
Bloomberg
The soaring demand adds to signs investors are stepping up precious-metal purchases as Europe'sgovernments tackle a sovereign-debt crisis and central banks led by the US Federal Reserve print cash to stimulate their economies, potentially devaluing ...
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Gold in sterling strikes record at 954.96 pounds
Reuters Africa
... the debt crisis in Europe. Greece's government will approve its new austerity package on Wednesday after it survived a confidence vote, clearing the first hurdle in a battle to secure emergency loans and avert the euro zone's first sovereign debt ...
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TheFXSpot:Risk Appetite Rises On Improving Greek Prospects
IMarketnews.com
Tuesday, US Treasury Secretary Timothy Geithner said it is important that the EU speak with a "clear, more unified voice" regarding its strategy to combat the sovereign debt crisis. "The simple rule of crisis management is you want to have a simple, ...
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U.S. Clouds View for Daimler CEO
Wall Street Journal
The European debt crisis posed another threat and preserving and strengthening the euro-zone and its common currency was key to stable European economic growth, he said. As European political leaders continue to wrangle over a new aid package for ...
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Is the Euro aggravating the European debt crisis? « Wintery Knight
By Wintery Knight
But if it wasn't for the euro, Greece's debt crisis would be an isolated problem — one that was tough for the country, but easy for Europe to bear. It is only because Greece is part of the euro zone that Athens' debts are a ... Consider this article by John Bolton in the New York Post. Excerpt: Most Americans had barely heard of the International Monetary Fund before the arrest of its managing director, Dominique Strauss-Kahn, for sexually assaulting a hotel housekeeper. ...
Wintery Knight
NewsDaily: U.N. warns austerity plans damage economic recovery
By Robert Evans
Austerity measures being adopted by many industrialized world governments in the wake of the 2008-09 financial crisis are undermining economic recovery, a United Nations report said on Wednesday. ... NewsDaily: Your best source for breaking news ... The report made no specific reference to the current problems of European countries in the euro zone and outside it, which have been heightened by the political and social turmoil in debt-burdened Greece. ...
NewsDaily: Top Headlines
Today: EUROZONE Debt Crisis News, Jun 21, 2011
EU strives to quarantine Greek debt crisis | Deseret News ... Future of Europe: Euro break up. Future eurozone? Debt crisis. ... article.wn.com/. ...
www.interalex.net/.../eurozone-debt-crisis-news-jun-21-2011...

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