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Jul 14, 2011

EUROZONE Debt Crisis News, Jul 14, 2011

Italy's sovereign debt crisis: is the euro worth it?
GlobalPost
Economist Mark Weisbrot unpacks Europe's panic over Italy's debt, and weighs in on the euro zone's right-wing bias. Tourist pass by a street beggar in central Rome on July 11, 2011. Economist Mark Weisbrot argues that right wing euro zone policies ...
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CORRECT: Irish PM Lays Down Gauntlet To EU Over Debt Crisis
Wall Street Journal
Effectively setting a deadline, Kenny told parliament there "was no point" in him attending a mootedEuropean Union Council meeting Friday if leaders failed to make any decisions in solving the crisis. Action was now needed by euro zone finance ...
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Italy political consensus helps calm markets
Reuters
He also urged European leaders to overcome the divisions which have hindered an effective resolution of the euro zone debt crisis and criticised the halting response seen so far. "We must now bring certainty to the process by which sovereign debt ...
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Eastern Europe feels chill of eurozone crisis
Financial Times
By Jan Cienski and Peter Garnham The ripples from the eurozone debt crisis are spreading to central and eastern Europe, sending the Polish zloty and Hungarian forint to record lows against the Swiss franc. But as investors have flocked to the safety of ...
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Emerging Europe's Currencies Feel Heat From Euro-Zone Crisis
Wall Street Journal
By Erin McCarthy Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Heightened concerns that the euro zone's debt crisis could spread to Italy and other major economies has made investors generally more averse to risk and prompted fund managers to hesitate ...
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PRECIOUS-Gold hovers near record high, euro zone eyed
Reuters
"Investors are really fearful that the debt crisis will spread to nations beyond Greece," said Ong Yi Ling, an analyst at Phillip Futures. "We are in the climate of uncertainty -- there is the debt crisis inEurope and the United States have not come ...
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Portugal Calls EU To Take 'Robust' Steps To Solve Crisis
Wall Street Journal
But it also seems that independently of that, risks that the EU are facing are systemic and need a robust and coherent answer," Passos Coelho said. Europe's sovereign debt crisis has worsened in recent weeks, with Greece unable to pay its debt after ...
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Miners, Italian banks lead rebound for European stocks
Reuters
The STOXX Europe 600 Banking Index rose 0.7 percent. But Greek banks fell 1.7 percent and theeuro zone crisis remained a key theme for the markets. Moody's cut Ireland's credit rating to junk on Tuesday, warning that the debt-laden country would ...
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'Too Many Cooks' in Euro Debt Crisis: OECD Head
CNBC.com
Finding a solution to the euro zone crisis is such a complex task that investors, as well as many citizens of the European Union, have grown disgruntled with attempts to sort out the debt. “The complexity of the issue is such that you have to discuss, ...
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FOREX-China data gives euro a boost, markets still nervous
Reuters
By Steven C. Johnson NEW YORK, July 13 (Reuters) - The euro rose broadly on Wednesday, snapping a three-day losing streak as surprisingly swift Chinese growth brightened the global outlook and diverted attention from a worsening euro zone debt crisis. ...
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US debt crisis and eurozone troubles could overshadow phone hacking
The Guardian (blog)
The US debt crisis and ongoing eurozone troubles have added to pessimism about the global economy. Photograph: Kin Cheung/AP Whenever the media become obsessed with one story, particularly a story about itself, there's a danger that we lose perspective ...
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UK urges decisive euro zone action to end crisis
Reuters
LONDON, July 12 (Reuters) - Britain's finance minister George Osborne on Tuesday urged his colleagues in the euro zone to take decisive action to resolve the debt crisis. "The time has come for decisive action to address the crisis in the euro zone and ...
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CFR.org Roundup: Ireland downgraded to junk, debt contagion fears rise
CNN (blog)
European Union officials have expressed public frustration (DerSpiegel) toward the "Big Three" rating agencies–Moody's, Fitch, and Standard and Poor's–for exacerbating the European sovereigndebt crisis with speculative ratings. At the same time, ...
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Envious Of U.S. Debt Ceiling Conflict, France Considers One Of Its Own
TIME (blog)
French President Nicolas Sarkozy, who is currently seeking to manipulate Europe's growing debt crisis as a means of scoring mostly hollow points against his leftist opponents by casting himself as the nation's most diligent foe of nefarious, ...
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TREASURIES-Bonds snap winning streak; solid 10-year sale
Reuters
By Chris Reese NEW YORK, July 13 (Reuters) - US Treasury debt prices fell on Wednesday, snapping a three-day market advance, as investors took profits on reduced anxiety over the extent of the euro zone debt crisis. Yields rose across the Treasury ...
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Greece needs additional 71 billion euros in new EU aid: IMF
Economic Times
WASHINGTON: Greece needs an additional 71 billion euros ($100.6 billion) in European Union aid and 33 billion euros from private creditors to weather its debt crisis, the IMF said Wednesday. The International Monetary Fund , in a report on the state of ...
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Jordan: Swiss CentraL Bank Watching Franc Developments Closely
Wall Street Journal
"We are of course concerned about the debt crisis in the euro region" and its impact on the franc, Thomas Jordan said during a panel discussion on how the euro-zone debt crisis could affect Switzerland. The franc has gained sharply in recent weeks ...
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Tokyo shares gain despite eurozone debt worries
Economic Times
The euro bought $1.4016 and 111.39 yen, firming from $1.3974 and 110.69 yen in New York. The weakness of the euro and the dollar came as Europe's debt crisis deepened, with Moody's Investors Service Inc. downgrading Ireland's government debt to junk ...
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U.S. may be headed toward situation like Greece
Culpeper Star Exponent
The word became highly popularized by its association with the debt crisis underway in the euro zone. The Merriam-Webster dictionary defines austerity as an “extreme of forced economy.” Austerity has best been demonstrated by the bailout package ...
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GLOBAL MARKETS-Stocks, euro jump after Bernanke testimony
Reuters
US Treasury debt prices fell as investors sold Treasuries to take profits from a recent safe-haven rally. Some reduction in anxiety over the extent of the euro zone's debt crisis also gave investors less of a reason to buy or hold Treasury bonds in ...
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CANADA STOCKS-TSX may open higher after strong Chinese data
Reuters
N] * European shares edged up, with miners rising after encouraging Chinese data, and Italian banks recovering some of the ground lost in recent days, when worries over the euro zone debt crisisescalated. [.EU] * Asian markets closed higher with ...
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EU Debt Crisis: No Agreement On Greece Yet But Eurozone Considers Expanding ...
eGov monitor
The Eurozone finance ministers had a marathon meeting yesterday to discuss Greece and the overall EU debt crisis. The meeting was held against the backdrop of fears that the debt contagion hitting Italy - the third largest economy in the eurozone. ...
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Eurozone drama: act fast, speak with one voice, analysts say
MSN Philippines News
Pressure is rising on EU and eurozone leaders to speak with one voice, put differences aside and get ahead of the markets in solving the spreading debt crisis. Here are the views of some leading figures and analysts. - Italian central bank chief Mario ...
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Dollar firmer as Euro crisis dominates
Herald Sun
Eurozone finance ministers met overnight to discuss Europe's debt crisis and ongoing contagion concerns. HiFX senior trader Stuart Ive said investors were optimistic that the ministers would soon find a solution to the crisis. ...
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Japan Economy Minister Warns On Europe Crisis, Japan Fiscal Discipline
Wall Street Journal
TOKYO (Dow Jones)--Japan's economy minister said Wednesday that the euro zone's sovereigndebt crisis is becoming "dangerous," and said it is important to maintain fiscal discipline at home to keep current Japanese government bond yields low. ...
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Greece Seeks Comprehensive Solution to Debt Crisis
CRIENGLISH.com
In the meantime, Greece would step up necessary structural reforms and the implementation of a multi-billion euro privatization program, added Venizelos. Venizelos also noted that Greece has been used as a scapegoat for the lingering debt crisis. ...
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Thai stocks seen range-bound; rate review in focus
Reuters
BANGKOK, July 13 (Reuters) - Thai stocks are expected to move narrowly on Wednesday as beaten-down blue chips attract some bargain hunters but the euro zone's debt crisis, including a rating downgrade for Ireland to junk status, will keep investors ...
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European stocks suffer jitters
STLtoday.com
Stocks fell in Europe and Asia on Tuesday amid growing nervousness over Europe's efforts to resolve its debt crisis and its waning prospects for global growth, but Wall Street trading was more sedate, with the Dow Jones industrial average ending the ...
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Italy Crisis, Ireland Downgrade Intensify Euro Nightmare As Policy ...


By The Huffington Post News Team
Italy, with Europe's largest bond market, is a potentially much larger domino than Greece. Its outstanding debt reached 1.8 trillion euros at the end of December, Bloomberg News notes. Greece, for its part, has about 340 euros of debt outstanding, ... Eurozone Seeks Strategy To Prevent Spillover Of Greek Debt Crisis. (AP) BRUSSELS -- European officials are trying to work out a strategy Monday to prevent the eurozone's debt crisis from spilling over into bigger economies. ...
Greece on Huffington Post
Markets rocked as debt crisis deepens | MAARS News
By Valkyries
(FT) — Europe's debt crisis escalated on Monday as Italy and Spain saw their borrowing costs soar by record amounts, hitting bank shares and stock markets globally. photo:edition.cnn.com. Italy, theeurozone's third-largest economy and ...
MAARS News
Germany rejects need for eurozone crisis summit - The Local
Germany on Wednesday played down the need for an emergency summit of eurozone leaders in response to Europe's debt crisis, saying finance ministers were already working on a rescue plan. ..."There are no concrete plans for such a special summit," government spokeswoman Sabine Heimbach told a regular news conference. Calling an emergency meeting had been pushed by France and EU President Herman Van Rompuy. "The important thing, and that is also the view of the chancellor, ...
The Local - Germany's news in English
Pressure rises on divided eurozone to act on debt crisis < French ...
A spokesman for European Union President Herman Van Rompuy said he would decide on whether to call a eurozone debt crisis summit "in due time." Amid concerns the euro area's troubles could spread beyong its borders, British Prime ...
Expatica - French Local Headlines
ITALIAN DEBT CRISIS SPELLS ENDGAME FOR THE EURO, ADMITS GERMANY'S ...
By Jane Burgermeister
http://www.bild.de/geld/wirtschaft/italien-krise/schuldenkrise-in-italien-endspiel-um-den-euro-18814866.bild.html. All along the solution to the souvereign debt crisis gripping the eurozone bloc has been clear – the introduction of an .... New is that the bankster and their puppet politicians see a way to press yet more money out of the tax payer's of Italy and the eurozone and push forward their agenda for fiscal union claiming this is the solution to the crisis when ...
Case About Bird Flu
Satyajit Das: “Progress” of the European Debt Crisis « naked ...
By Yves Smith
The same issues are relevant ultimately for all the other deeply troubled Euro-zone members. While an immediate crisis has been avoided, the stage is now set for a slow, “Wagnerian” drift towards a future debt restructuring for some of ... Debt is now close to 145% of GDP, a level above that expected to be reached by 2013 under the EU/ IMF “rescue” plan. Despite some progress, structural reforms are proving difficult and slow to implement. A plan to privatise Euro 50 ...
naked capitalism
MACAU DAILY TIMES - Eurozone mulls summit on debt crisis
“No decision has been taken on a summit of the eurozone but it has not been excluded,” he told anews conference in Madrid yesterday following talks with Spanish Prime Minister Jose Luis Rodriguez Zapatero. Diplomats in Brussels earlier told AFP the eurozone is considering ... The summit plans highlight mounting concerns in Europe that the debt crisis will force Greece to declare default and contaminate Italy and Spain, the eurozone's third and fourth largest economies. ...
MACAU DAILY TIMES
Passos Coelho calls for more action against the European debt crisis
By B.B
This will align with the Ministers of Economy and Finance of the euro area that are committed to protect the euro from a possible spread of the debt crisis, reported state television RTP. ... Monday ended without results, the extraordinary meeting of leaders of the EU institutions, convened by Van Rompuy to address the debt crisis in the eurozone. Aside met finance ministers of the eurozone, who maintained their disagreement over the contribution of the second banking ...
Economics Newspaper
Yen's rise worries Japan as euro takes breather | Pakistan News ...
By admin
TOKYO: The Japanese yen remained near a four-month high against the dollar in Tokyo trade Wednesday while the euro took a breather from sharp falls triggered by the eurozone debt crisis. The yen eased to 79.42 to the dollar in Tokyo ...
Pakistan News - Pakistani News...
Europe: Lord Stirling's News Blog EUROPE
By Lord Stirling
Moody's cuts Ireland's rating to junk ~ link ~ The downgrade of Ireland follows a similar move last week, when Moody's cut the rating of Portugal, the third victim of the eurozone's debt crisis. It comes at a difficult time for the ...
Europe
Prison Planet.com » Gold Close to Breaking Record as Eurozone Debt ...
By admin
The spot price of gold reached within a few dollars of its all-time record today as the eurozonesovereign debt crisis intensified. Gold is widely considered a hedge against financial and economic risk. ... “Essentially the same conditions that have boosted gold prices all this month continue to drive bullion higher: [euro-zone] sovereign debt concerns, difficult U.S. debt ceiling negotiations, and economic uncertainty,” HSBC analyst James Steel told The Wall Street ...
Prison Planet.com
NewsDaily: Italy political consensus helps calm markets
By James Mackenzie and Deepa Babington
NewsDaily: Your best source for breaking news ... "The sharp rise in Italian and other euro zonegovernment bond yields in recent weeks reflect a crisis of market confidence in the European policy response to the euro zone debt crisis rather than deteriorating sovereign credit fundamentals," Fitch said in a statement. Italy has a public debt equivalent to around 120 percent of gross domestic product, second only to Greece in the euro zone and compounded by one of the ...
NewsDaily: Top Headlines
GLOBAL MARKETS-China soothes, but euro zone crisis still haunts ...
By TOWF
GLOBAL MARKETS-China soothes, but euro zone crisis still haunts. Reuters LONDON, July 13 (Reuters) – Soothing data about China's economy provided some succour to investors on Wednesday although Europe's debt crisis rolled on with Irish ...
The Wire
Euro-Zone Sovereign Debt Crisis at a Critical Point | www.bullfax.com
By marketmaker
Here's the overarching frame: If I had to simplify the sovereign debt crisis to one sentence I would say this: As some euro-zone sovereign debtors are near insolvency, a liquidity crisis has begun in which various 'creditors', the various national taxpayers ... Euro zone nations are working on a "comprehensive package" of measures they hope will end the bloc's year-long debt crisis. Germany,Europe's biggest economy and the key to any deal, expects agreement by end-March ...
Bullfax.com - Market News & Analysis
euro zone debt crisis: Italy, Spain Will Mean More 'Carnage': Fund ...
As euro zone finance ministers meet to discuss the latest plan on the table aimed at solving the Greek debt crisis, one fund manager is warning that Italy and Spain will be downgraded, raising the... Europe Stocks to Open Flat, Debt in Focus ... News. Blog Posts. Videos. Current DateTime: 12:00:58 11 Jul 2011 ...
www.cnbc.com/.../Italy_Spain_Will_Mean_More_Carnage_Fu...
Debt crisis: EU Commission wants to ban rating based on euro-zone ...
debt crisis: EU Commission wants to ban rating based on euro-zone countries Article Services Many politicians give the rating agencies were complicit in.
economicsnewspaper.com/.../debt-crisis-eu-commission-wants-...
Friday, the euro zone debt crisis of the EU will ... - Forex News
Tuesday (12) sources, the EU leaders on Friday (15) to convene a special summit euro zone debt crisis. Lloyds Bank (Lloyds Banking Group Plc)
www.forex-news.co/friday-the-euro-zone-debt-crisis-of-the-eu...
EU races to curb euro crisis as Italy, Spain hit — EUbusiness ...
... signs that the eurozone debt crisis is spreading to major EU economies, ... You are here: Home → Breaking news → EU races to curb euro crisis as Italy ...
www.eubusiness.com/news-eu/eurozone-finance.b78
EU calls emergency meeting as debt crisis stalks Italy | Reuters
... dealing with the euro zone debt crisis for Monday morning, reflecting concern that the. ...Related News. Rescue fund not big enough for Italy - report ...
uk.reuters.com/.../uk-eurozone-idUKTRE7691I320110710
Italian borrowing costs rise on debt crisis fears - News from AP ...
THE ASSOCIATED PRESS STATEMENT OF NEWS VALUES AND PRINCIPLES ... to work out a strategy Monday to prevent the eurozone's debt crisis from spilling over into ...
hosted2.ap.org/.../id-f5ba4b9009504eb5a72a19d9524efe52
Will euro debt crisis swallow Italy next? EC fears Rome will ...
MailOnline - news, sport, celebrity, science and health stories ... Will euro debt crisis swallow Italy next? EC fears Rome will follow Athens, ... However, if Italy – the eurozone's third largest economy – went the way of Greece, ...
www.dailymail.co.uk/.../Will-euro-debt-crisis-swallow-Italy-E...
Italian markets hit by debt crisis contagion fears - I4U News
(BRUSSELS) - Europe's debt crisis threatened to spill over to Italy, ... Despite being theeurozone's third-largest economy, markets fear it could be the ...
www.i4u.com/related_articles/05Yl6Psae2cu5

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