Today: EUROZONE Debt Crisis News, Jun 24, 2011 (1)

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Jun 24, 2011

EUROZONE Debt Crisis News, Jun 24, 2011 (1)


Q&A-How UK financial supervision is shaping up
Reuters
By Huw Jones LONDON, June 24 (Reuters) - Britain's new Financial Policy Committee (FPC) published its inaugural report on risks the UK financial system is facing, saying the euro zone debt crisis is its top concern. It showed how regulatory power has ...
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Euro Falls on Greek Debt Crisis, Contagion Worries
Wall Street Journal
Analysts say Greek parliamentary approval of austerity measures likely won't be the end of the country's woes, or investors' apprehension toward the euro. Greece's debt crisis "is definitely a long way from resolved," said Omer Esiner, chief market ...
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BoE's Posen sees risk of euro zone rescue "disaster"
Reuters
Posen urged euro zone governments to tackle their banking problems, adding a "refusal" by politicians in Germany and elsewhere to recognise banks' losses and accept their need for recapitalisation was restricting Europe's debt crisis response. ...
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ECB's Paramo says euro crisis won't end soon
Reuters India
By Nigel Davies MALAGA, Spain (Reuters) - The euro zone's debt crisis is far from over, European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said on Friday and called for private sector help to ease Greece's debt problems. ...
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German Business Confidence Rises as Domestic Growth Defies EU Debt Crisis
Bloomberg
The International Monetary Fund on June 17 lowered its forecast for global growth to 4.3 percent from 4.4 percent, citing concern about a setback in the US recovery and a potential contagion fromEurope's debt crisis. Olivier Blanchard, chief economist ...
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How to make a play on the Greek debt crisis
Interactive Investor
The International Monetary Fund and the 17 eurozone nations will fund the bail-out, but first the Greek government has to get the plans passed in parliament next week. Shaky confidence in the euro saw it 0.27% higher against the dollar at 1.4295 on ...
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Interactive Investor
EU ties fray over debt crisis, border control
Los Angeles Times
The euro faces a debt crisis that poses the gravest threat to its existence since it was launched nine years ago, with political infighting preventing the EU from mounting a swift, effective response. Faith in the dream of a united, richer, ...
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Los Angeles Times
Euro zone debt crunch sets off warning bells
Independent Online
AP European Central Bank president Jean-Claude Trichet says the financial stability of the euro zone is under severe threat. Photo: AP Risk signals for financial stability in the euro zone are flashing “red” as the debt crisis threatens to infect banks ...
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Independent Online
Day of reckoning looms for Greece – and Europe
Khaleej Times
A series of bailout packages and hurried debt restructuring might delay this moment, but it does now seem likely to occur. The longer the crisis drags on, the greater the risk that the contagion will spread to other troubled eurozone economies like ...
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Khaleej Times
MONEY MARKETS-ECB seen hiking just once this year, in July
Reuters
The European Central Bank still looks set to raise interest rates by 25 basis points to 1.5 percent in July after using the code words "strong vigilance" at its June meeting, but that could change if Greece's debt crisis deteriorates sharply next week. ...
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Euro Debt Crisis Hurts Eastern Europe's Confidence, ZEW Says
Bloomberg
By Zoltan Simon - Fri Jun 24 10:35:10 GMT 2011 Central and eastern Europe's economic sentiment indicator, a measure of investor confidence in the region, plunged to the lowest in more than two years in June as the euro area's debt crisis continued, ...
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Beijing's Moves Point to Europe Aid
Wall Street Journal
By OWEN FLETCHER Chinese Premier Wen Jiabao visits Europe as the region grapples with adebt crisis centered in Greece. China is expected to discuss euro-zone debt and help restore confidence in the markets. WSJ's Jake Lee and Peter Stein discuss. ...
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The Pandora's Box of the European Debt Crisis
The Moral Liberal
We know the ending – saving the marriage brings mutual destruction, but that was a movie. Can Germany and Greece live happily ever after together in the Eurozone? It is a trillion dollar question. European Union is in a hot spot. ...
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The Moral Liberal
US Stocks Drop As Euro Zone Worries Overshadow Economic Data
Wall Street Journal
By Steven Russolillo Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--US stocks dropped Friday as worries about Italian banks and the overall European debt crisis overshadowed a bigger-than-expected rebound in orders for durable goods. ...
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Yedlin: Summit addresses oil release, euro
Calgary Herald
If high oil prices and their collective impact on the global economic growth was one theme of Wednesday's session, there were two other headwinds identified as factors likely to affect the world economy - the ongoing debt crisis in Greece and the ...
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Euro Zone Faces Lack of 'Exit Strategy,' Pimco's Clarida Says: Tom Keene
Bloomberg
... created without an “exit strategy” as member nations try to resolve the region's debt crisis, Pacific Investment Management Co.'s Richard Clarida said. “The challenge in Europe is that the euro was created without an exit mechanism,” said Clarida, ...
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Treasurys Boosted By Euro Zone Worries; Yields Hit New 2011 Low
Wall Street Journal
New signs of contagion risks from the Greek debt crisis came Friday after Moody's warned that it could cut the credit ratings on Italian banks--a move that followed the firm's threat last week to downgrade Italy's sovereign rating. ...
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UK Could One Day Join Euro: Blair
International Business Times
Despite the ongoing crisis with euro zone debt, the United Kingdom could still join the euro, said former British Prime Minister Tony Blair. Speaking to BBC, Blair said he disagreed with those who claim that adopting the euro currency would be ...
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International Business Times
Chinese prime minister tours Europe
Forbes
Wen is arriving in Britain on Saturday afternoon from Budapest and will end his European visit in Berlin, where he is expected to discuss Europe's debt crisis with German Chancellor Angela Merkel on Monday. Wen, who is seen as the most pro-Europe ...
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US Indexes Decline 1% as Euro-zone Worries Spread to Italy
123Jump.com
The UK indexes rose on hopes of a resolution to the Greece debt crisis. The Bank of England Governor Mervyn King said that the euro-zone debt crisis poses a significant threat to the financial stability in the United Kingdom. Berkeley Group fiscal year ...
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Stock Futures Seek Direction Ahead of Data
Fox Business
By Adam Samson Wall Street slid into the red after durable goods data that was slightly better than expected failed to allay lingering concerns about the euro zone sovereign debt crisis. As of 2:09 pm ET, the Dow Jones Industrial Average fell 92.26 ...
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Bernanke Adds To Concerns About Money Funds, But Some Hopeful
Wall Street Journal
NEW YORK (Dow Jones)--By highlighting problems with the exposure of US money market funds to the euro-zone crisis, Federal Reserve Chairman Ben Bernanke has added to market anxiety about the threat of global contagion from the Greek debt problem. ...
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Austrian Greens threaten to hold up ESM safety net
Reuters
... reservations about the 700 billion euro ($990 billion) ESM, which EU leaders have approved but which needs a change to the EU's Lisbon Treaty to take effect. Noting banks and "profiteers" had made big returns in the run-up to Greece's debt crisis, ...
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Oil drops on European debt worries
Proactive Investors UK
The rating agency added that another 16 banks in Italy could see their long term debt ratings slashed. Traders fear that the European debt crisis, which has put Greece on the brink of a default, will spread into other euro zone countries and trigger ...
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FTSE pares gains on bank jitters
Reuters
Britain's new risk watchdog warned the euro zone's debt crisis poses the biggest threat to Britain's financial stability and banks must come clean on their full exposure. Miners and integrated oil stocks , top fallers in the previous session, ...
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'Deep Pasok' must not dictate the eurozone's fate
Financial Times
Though Greece accounts for only 2.5 per cent of the 17-nation eurozone's economic output, its debt crisis has the potential to destabilise the public finances and banking sectors of other European countries on a scale unimaginable in the 1830s. ...
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Italy's Draghi takes ECB helm
Ninemsn
The EU has appointed Italy's Mario Draghi as the next European Central Bank president after France won a bid to keep a seat on the board of the key player in the debilitating eurozone debt crisis. EUpresident Herman Van Rompuy said on Friday that ...
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GLOBAL MARKETS: European Stocks Sharply Higher
Wall Street Journal
"While euro-zone leaders are still discussing ways to solve the sovereign debt crisis, the German economy seems to cruise along unaffected," said ING. "The strong economic fundamentals seem to shield the German economy from the global soft patch. ...
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A look at economic developments around the globe
The Associated Press
___ ATHENS, Greece — Greece's new finance minister said the government has been encouraging Greek banks to participate in a solution to the country's crippling debt crisis, just days ahead of a crucial Parliamentary vote that could stave off a ...
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AIDemocracy.org | Greek Debt Crisis
By Rachel Merker
greece-debt-crisis All you need to do is turn on the news to know that Greece is in financial crisis. But with European leaders locked in negotiations over how to rescue the nation's flailing economy and keep the debt emergency from ... The Anatomy of a Debt Crisis. Ten years ago, Greece joined the Euro zone, the group of nations in the European Union (EU) using the euro as their official currency, and initially it enjoyed high levels of growth that convinced foreign ...
AIDemocracy.org
War News Updates: Europe's Debt/Financial Crisis Continues
By War News Updates Editor
The eurozone's debt crisis poses the biggest single threat to UK financial stability, the Bank of England's new financial watchdog warned today. Despite the limited direct exposure of UK banks to debt in beleaguered countries such as ...
War News Updates
UK Financial Policy Committee: Euro zone debt crisis poses “most ...
Calls for banks to improve disclosure of sovereign, bank sector exposure on permanent basis Small UK banks, not in EU stress tests, should also disclose. ... 10 Responses to “UK Financial Policy Committee: Euro zone debt crisis poses “most material and immediate threat””. maria on June 24th, 2011 09:40 GMT. Small QUIZ for you all ;) Name 3 car brands that sold MOST cars in US in 2011. ...Sign up to receive breaking news as well as receive other site updates! ...
ForexLive
Eurozone crisis 'UK's biggest risk' « Shropshire Star
By PA
The eurozone's debt crisis poses the biggest single threat to UK financial stability, the Bank of England's new financial watchdog has warned. ... navigation-secondary. UK News | UK Sport.Eurozone crisis 'UK's biggest risk'. Friday 24th June 2011, 11:30AM BST. The eurozone crisis is the biggest threat to financial stability in the UK, according to the Bank of England's new financial watchdog. Tweet. The eurozone's debt crisis poses the biggest single threat to UK ...
Shropshire Star » Shropshire Star
China Gold Association: Chinese Gold Sales To Surge Twofold And ...
By Goldcore Bullion and Wealth Management Company
Gold's fall in euros yesterday was mild due to euro weakness. Gold is marginally higher in eurostoday as the euro remains weak on continuing concerns about the Greek and Eurozone debt crisis. GoldCore. Cross Currency Rates ... and other periphery Euro zone countries from bankruptcy. GoldCore. Ireland Government Bonds 10 Year Note Generic Bid Yield Further confirmation of very robust demand from Asia and China in particular came from the China Daily overnight (see news). ...
Business Insider
EURUSD Bouncing Back | Live Stock Trading News | Equities, Forex ...
By Shayne Heffernan
On Friday, the euro slid against the dollar amid persistent concerns the Greek debt crisis spreading contagion across the eurozone. German Chancellor Angela Merkel said Friday that leaders had struck “an important political accord for ...
Live Trading News
Financial Tides -- A Stock Market Investing Newsletter by Jim Van ...
By Jim Van Meerten
Global stocks are mostly higher with the European Euro Stoxx 50 up +0.31% and Sep S&Ps up +1.60 points. Stocks and commodities rose and Treasuries retreated after EU leaders vowed to stave off a Greek default as long as Prime Minister Papandreou pushes a 78 ... Bearish factors included (1) weakness in bank stocks after ECB President Trichet warned that risk signals for financial stability in the Euro-Zone are flashing "red" as the debt crisis threatens to infect banks, ...
Financial Tides -- A Stock Market...
Business confidence posts surprise rise - The Local
Germany's Ifo business confidence index posted a surprise rise on Friday, suggesting investors remain positive about prospects for Europe's top economy despite the Greek debt crisis and concerns about US growth. ... Earlier this week, the Centre for European Economic Research (ZEW) survey of economic sentiment fell sharply on worries about the eurozone debt crisis and growth prospects for the US. Ben May, economist at Capital Economics, said the Ifo "defies" other ...
The Local - Germany's news in English
CRASH 2: Sir Merv takes the gloves off to warn that the end is ...
By John Ward
Sir Mervyn King, governor of the Bank of England, warned on Friday that stopgap measures to extend new loans to countries such as Greece, Portugal and Ireland would not solve the eurozone debt crisis. It's good to see that at long last, ... Sir Mervyn's views put him at odds with the ECB andeurozone governments which have extended hundreds of billions of euros in Greek, Irish and Portuguese bailouts in an attempt to solve the crisis. And Sir Merv wasn't sparing any ...
The Slog

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