Today: EUROZONE Debt Crisis, Jul 01, 2011 (2)

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Jul 1, 2011

EUROZONE Debt Crisis, Jul 01, 2011 (2)


Thousands Strike In Britain As EU Debt Crisis Festers
WBEZ
Yet Marquand acknowledges that the eurozone sovereign debt crisis is serious. "If that crisis is not resolved then there could indeed be a disastrous backlash for the whole project of European Union," he said. "But I think for that very reason, ...
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The Greek Debt Crisis and its Foreign Exchange Implications Decoded
CisionWire (press release)
That is exactly what happened a year ago, when the Greek debt crisis began to make headlines and the impact of seemingly unlimited borrowing on the Euro brought into question. Unrestrained borrowing, cheap lending and a lack of effective fiscal reform ...
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Franco-German pact is key to survival
The Australian
FROM the start of the Greek debt crisis last year, major European players should have understood the risks and consequences for the European Union, but they certainly don't give that impression. The crisis was about much more than Greece: a disorderly ...
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Farewell to the Euro?
Project Syndicate
The euro itself is at risk, because the countries in crisis have, in recent years, been running the eurozone's monetary printing presses overtime. Some 90% of the refinancing debt that the commercial banks of the GIPS countries (Greece, Ireland, ...
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German banks agree to help bail out Greece
AFP
This included some two billion euros held by German banks and insurance firms, and around 1.2 billion euros held by so-called 'bad banks', a hangover from the 2008-09 global financial crisis, Schaeuble told a news conference. He said German banks held ...
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AFP

Southern eurozone nations tighten budget belts
MSN Philippines News
Southern eurozone nations have announced or adopted further austerity measures this week to stabilise their public finances and calm nervous markets as the Greek debt crisis came to a head in Athens. Greek lawmakers approved a second round of austerity ...
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'Greek bailouts, short-term solutions'
Press TV
The Greek parliament has recently voted to sharply reduce government spending and sell off some of its national assets as a rescue plan to bail the country out of a deep debt crisis. Press TV has interviewed Shahrar Ali, spokesman of Green Party and ...
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Press TV

EUR: TWO DOWN, FOUR MORE HURDLES TO OVERCOME
Green Faucet Global Market Commentaries
Here are some of the hurdles that the Eurozone still needs to overcome to put the Greek sovereign debt crisis behind them: 4. Get EU/IMF to Release Next Tranche of Aid 5. EU/IMF Needs to Come up With a Second Rescue Plan for Greece 6. ...
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Greece — Sword of Damocles Hangs over the Financial Markets
The FINANCIAL
“Nevertheless, we expect increased spread risks in the first half of 2012 due to the still unresolved euro sovereign debt crisis. In our opinion, the high-yield index should outperform the investment grade index on the basis of total return up to the ...
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The phantom giant of Luxembourg
Business Spectator
Yet Luxembourg is not only the seat of several EU institutions – its prime minister, Juncker, is also one of the most formidable power brokers in the euro crisis. As the Luxembourg tail continues to wag the EU dog, its policies would deserve greater ...
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Swiss franc strength hits exports
CITY A.M.
WHILE the European sovereign debt crisis rages on, Switzerland sits in the eye of the economic storm. Though the Swiss have been prudent where their European Union neighbours have been profligate, their economy is nevertheless suffering from the ...
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Lisbon imposes new salary tax to boost coffers
MSN Philippines News
All of them as a result have resorted to stringent spending cuts and tax hikes in an effort to balance their public finances and avoid a wider eurozone debt crisis that a default could spark. The Portuguese parliament will debate the government's ...
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Meaner Tougher IMF with Lagarde
Bay Area Indymedia
by Stephen Lendman She'll assume "one of the most powerful positions in global finance as a worsening crisis in Greece threatens the euro currency union and rattles financial markets worldwide." Washington's choice all along, Treasury Secretary Tim ...
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Sarko kicks up a stink to spoil Draghi's big moment
European Voice
Controversies over how to handle the eurozone sovereign-debt crisis have already cast enough doubt on the ECB's independence. Consider the question that came to a head in May 2010 of whether the ECB should have been accepting Greek government bonds as ...
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Daily Roundup: Greek vote on new austerity measures
CNN (blog)
Despite the Greek parliament's approval of an austerity package, the country's enormous debt and EU countries' tortured debate over solutions raise concerns that default is unavoidable. While the Greek crisis calls the eurozone's future into question, ...
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'US economy as unstable as Greece's'
Press TV
It is a similar thing that we faced in the United States with the financial crisis of 2008, and the fear of panic then essentially forced the government to act and to make up for the games and irresponsibility of financial system. ...
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Press TV

Editorial Roundup: Excerpts From Recent Editorials
eTaiwan News
In fact, China is continuing its commitment to developing all round relations both at Sino-EU and China-EU member country levels. Especially since 2008 after the financial crisis began, China's state leaders have frequently visited Europe with trade ...
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Leitner calls for CEO pay cut
Austrian Independent
The left-winger argued his measure would help his party in arguing why Austria supports debt-ridden European Union (EU) and Eurozone member Greece. Leitner told the Kurier newspaper: "Many people are angered, assuming we saved banks engaged in Greece ...
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New San Francisco bridge built in China to be shipped to US - Fullermoney
Proactive Investors UK
French banks have also announced they are willing to roll their Greek debt holdings forward and discussions are ongoing as to whether German banks will do the same.The easing of anxiety relating to the Eurozone's sovereign debt crisis has contributed ...
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...while top economist sees hope, but fund CEO warns of 'AIG factor'
Citywire.co.uk
... EU is providing which would have, paradoxically meant more, not less austerity.' 'The most likely scenario is to reprofile, or reschedule the debt over the next two years and for Greece to stay in the Euro.' 'Expect this Euro crisis to last a while ...
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What the future holds for Greece?-opinion
Balkans.com Business News
Like Russia in 1998, Greece is currently faced with a debt crisis, an inflexible currency regime and a largely unreformed economy with a dysfunctional tax system. The similarities, however, end there. Russia had a population 15 times that of Greece, ...
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The Divided States of Europe.
Jordan Directions
Closer unification and the creation of some sort of United States of Europe seems like the obvious solution to the problems posed by the eurozone sovereign debt crisis — although the eurozone's problems are many and not easily solved just by ...
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Greece passes austerity after trouble-free vote
Montreal Gazette
“Not in Syntagma Square, which is just a few hundred protesters, but with the whole of Greece's 11 million people.” For an Interactive timeline on Eurozone debt crisis in the last year please visit http://link.reuters.com/rev89r.
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UK's small businesses would be hardest hit by Greece default
inspiresme.co.uk
In May the IMF warned that the sovereign debt crisis may spread across the EU and weaken the single currency, despite a wave of multi-billion dollar bailout packages handed to the Eurozone's struggling member states.
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Italian cabinet heads for hot budget cuts
MSN Philippines News
Markets are keeping a close eye on the proposals amid fears of contagion to other parts of the eurozone from the sovereign debt crisis in Greece. Italy has come in for particular scrutiny because of its high debt and low growth and ratings agencies ...
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NewsDaily: Investors stay cautious as H2 starts: Reuters poll
By Jeremy Gaunt, European Investment Correspondent
NewsDaily: Your best source for breaking news ... They also lifted their exposure to euro zone stocks and bonds in the month, despite the ongoing debt crisis. Reuters asset allocation polls released on Thursday showed leading investors across the world recovering from May's retrenchment, ... crisis. On average, 58 fund firms in the United States, Europe excluding the UK, Japan and Britain held 51.5 percent of a balanced portfolio in equities, up from 50.7 percent in May. ...
NewsDaily: Top Headlines
Euro Zone Debt Crisis: 'Probably Inevitable' a Country Will Exit ...
News. Blog Posts. Videos. Current DateTime: 08:22:07 27 Jun 2011 ... With a debt crisis in some peripheral members testing the EU's cohesiveness at a time ...
www.cnbc.com/.../Probably_Inevitable_a_Country_Will_Exit...
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