Today: EUROZONE Debt Crisis News, Jul 16, 2011

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Jul 16, 2011

EUROZONE Debt Crisis News, Jul 16, 2011

EU's rescue is in it own hands, says trade chief
The National
Sean Gallup/Getty Images BEIJING // Karel De Gucht, the EU trade commissioner, yesterday warned that China's purchase of European sovereign debt should not be seen as a solution to the euro-zone's growing economic crisis. Mr De Gucht's comments were ...
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fiscal crisis - Latest news, videos, and information- msnbc.com
Analysis: Single euro zone bond needs to come back to table ... Insight on the debt ceiling crisis, with Thomas Donohue, U.S. Chamber of Commerce President ...
www.msnbc.msn.com/id/43715741/ns/business?q...
Greek Debt Summit Is Set for Thursday
Wall Street Journal
By MARCUS WALKER BERLIN—Euro-zone leaders will convene next Thursday for an emergency summit on the Greek debt crisis. European Union President Herman Van Rompuy, announced the meeting in a statement Friday, saying the heads of the 17 countries that ...
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Five world market themes in the coming week
Reuters
As the euro zone debt crisis threatens to become systemic, Spanish and Italian borrowing costs are likely to remain under increasing pressure with investors pessimistic about EU policymakers' ability to deliver an effective solution. ...
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Italy to slash budget as Europe struggles with debt crisis
AFP
ROME — Italy rushed to slash benefits and pensions with a 48-billion-euro ($68-billion) austerity budget on Friday in a fightback against market turmoil from the eurozone debt crisis. Final approval for the wide-ranging budget cuts in parliament is ...
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AFP
Germany faces criticism over its handling of the debt crisis
Deutsche Welle
Schäuble, however, despite his efforts, is still scrambling for a way to help Europe overcome its problems. While the German finance minister at the beginning of the debt crisis only hesitantly signed off on the multi-billion-euro debt package for ...
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The Eurozone Crisis: What Needs to Be Done
Wall Street Pit
If the euro was close to parity with the dollar, maybe also the problems of stagnation of a relevant part of Europe would be less severe, and it would be easier to restore market confidence. No one can doubt that the sovereign debt crisis in the ...
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Stocks Could Lose 35% if Euro Crisis Worsens: Report
CNBC.com
Worldwide stocks could lose 35 percent of their value if the euro zone sovereign debt crisis worsens, according to research from Deutsche Bank. The perceived by failure in the euro zone's politics to resolve the situation has pushed up the equity risk ...
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CNBC.com
IMF urges tougher EU response to debt crisis
Irish Times
A pivotal figure in the group of euro zone finance ministers for four years, Ms Lagarde is deeply familiar with the divisions which have hampered Europe's halting response to the crisis. Mr Chopra's remarks echo concerns that the fund has expressed ...
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Germany Finmin: Greek Crisis Threatens Eurozone As A Whole
IMarketnews.com
FRANKFURT (MNI) - The debt crisis enveloping Greece threatens to engulf the whole of the euroregion, Germany's Finance Minister Wolfgang Schaeuble warned in an interview with Westdeutsche Allgemeine Zeitung. He again stressed the importance of ...
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EURO GOVT-Investors seek shelter in Bunds pre-bank tests
Reuters
Italy this week became the latest victim of contagion from the euro zone debt crisis, which has forced Greece, Portugal and Ireland to seek financial rescue. "We're seeing Bunds pick up a nice bid here into the close just because markets are looking at ...
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Strengthening Euro-Zone Bonds
Wall Street Journal
By RICHARD BARLEY There is a clamor for some form of common euro-zone issuance as a means to resolve the sovereign-debt crisis. Italian Finance Minister Giulio Tremonti this week reiterated his support, echoing similar calls from Spain and Belgium ...
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PRECIOUS-Gold hovers below record; Europe woes, US debt talk aid
Reuters
SINGAPORE, July 15 (Reuters) - Gold hovered below its record high on Friday, after a nine-session rally pushed prices up as much as 7 percent, as the euro zone debt crisis and uncertainties around the US debt talks continued to support sentiment. ...
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Treasury Rally Fades After Results Of Euro-Zone Bank Stress Test
Wall Street Journal
By Min Zeng Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The rally in safe-harbor Treasurys faded Friday as the latest stress-test results on euro-zone banks eased some worries about the region's debt crisis. The news from Europe gave a boost to US ...
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Italy is different
FXstreet.com
Low private sector indebtedness (129% of GDP, well below the eurozone average of 169%). This suggests that the country will escape a long and painful deleveraging process by households and firms, implying only a limited impact of the debt crisis on the ...
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FXstreet.com
Looking for a silver bullet to solve Europe's debt crisis
Deutsche Welle
The debt crisis in Greece has in fact led to a domino effect in some other members of theeurozone. While there are a number of approaches that can help solve the problem, there simply is no quick fix. While there is no silver bullet that will end the ...
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Politics Poisons Debt Debate
Action Forex
Eurozone 'core' business surveys (Jul): By taking time on the issue of how to 'roll over' Greek debt,EU officials have tried the markets' patience, with the euro debt crisis reaching Italy and Spain. Yet the procrastination continues with Germany keen ...
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The looming crisis facing the Australian economy
The Australian
While world financial markets may be able to absorb the fallout of a Greek and Portuguese sovereign default -- in layman's language, a declaration that these countries are bankrupt -- the signs this week were that Europe's debt crisis was spreading to ...
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Key dates of the euro crisis
MSN Philippines News
July 11: Eurozone finance ministers agree to beef up their rescue fund, with a current lending capacity of 440 billion euros, to prevent debt crisis contagion. They put off a decision on a second bailout of Greece amid divisions over the participation ...
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Yuan Trims Weekly Gain on Worsening Europe, U.S. Debt Concerns
San Francisco Chronicle
"Concern the euro-zone debt crisis will worsen and Bernanke saying there's no immediate plan to stimulate the economy dragged the region's currencies lower," said Edmond Law, deputy head of foreign exchange at BWC Capital Markets in Hong Kong. ...
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Is Europe's debt crisis the beginning of a slow decline?
Arab News
By AMINE OUAZAD After Greece and Spain, Italy is now the latest European casualty of the euro zone debt crisis. With Greek banks nearly forced to fund their government, the Greek banking system is on the verge of collapse and a sudden bank run with ...
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Sterling hits one-month high versus ailing euro
Economic Times
LONDON: Sterling punched a one-month high against the euro on Friday as investors cut positions in the single currency ahead of European bank stress test results, with fears the euro zone debt crisis may spread still hampering sentiment. ...
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Ireland bailout on track amid debt threat
Sydney Morning Herald
Ireland's bailout is on track but the program must be enacted strongly to limit potential contagion from the eurozone debt crisis, the International Monetary Fund says. Experts from the European Commission, European Central Bank and IMF presented their ...
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Emerging-Market Funds Draw Cash; Europe Funds See Outflows
Wall Street Journal
... funds continued to draw inflows and funds focused on Europe lost money in the week ended July 13 as investors sought returns from emerging-market debt and currencies in the midst of worries about global growth and the euro zone's debt crisis. ...
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'The US Is Holding the Whole World Hostage'
Spiegel Online
"That will change if the European Union crisis countries manage to sort out their finances, while the US continues with its debt delusions. Then the markets will soon achieve what the politicians have failed to do -- and force the US into an era of ...
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Spiegel Online
Gold pauses after record-setting rally
Sydney Morning Herald
Gold took a breather after setting record highs for two consecutive sessions, as dashed hopes for additional US stimulus measures took some heat off, although the euro zone debt crisis and uncertainties on US deficit talks continued to support ...
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Greek trouble could stunt Hungary growth
Budapest Business Journal (blog)
The waves of the debt crisis in the Eurozone, starting in Greece last year, have reached central and eastern Europe, sending the national currencies in the region to record lows against the Swiss franc. The franc has risen more than 13% against the ...
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Rebound possible after dismal week for yen
Ninemsn
On Friday Italy was near the finishing line in racing to slash benefits and pensions with a 48 billioneuros ($A63.67 billion) austerity budget to firefight the eurozone debt crisis lapping at its shores. Leaders of the 17-nation euro area meanwhile ...
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Italy left winded by rollercoaster bond ride
Financial Times
Spanish 10-year yields were back above 6 per cent, marking the end of one of the more nerve-racking weeks of the eurozone crisis. The involvement of Italy – Europe'sbiggest bond market with €1600bn of outstanding debt – has left investors grappling ...
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Financial Times
European shares headed for steep weekly decline
Reuters
The lower house of Italy's parliament was expected to give final approval to an austerity plan worth 48 billion euros which the country is hoping will help soothe market fears it is being sucked into theeuro zone debt crisis. Among individual movers ...
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Rogers: Euro will survive debt crisis
Investment Week
Veteran investor Jim Rogers is long the euro in his portfolio as he expects the eurozone to survive the sovereign debt crisis. He told Reuters Hedgeworld he is long currencies and commodities as he believes the euro will overcome its problems. ...
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French finmin says EU not considering Greek default
Reuters
... to the country's debt crisis, French Finance Minister Francois Baroin said. "We do not subscribe to that view and we are working on solutions which are good answers both for Greece and the euro zone," Baroin told a news conference on Friday. ...
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5 money moves one euro trasher is making now
MarketWatch
Nowadays Coxe is concerned about the US debt crisis, but he's even less optimistic about Europe and the euro. In both Europe and the US, Coxe said, dysfunctional political and financial systems increase risk for investors, yet buyers who hold a ...
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MarketWatch
Sensible Measures In Europe
Palisades Hudson Financial Group
Such swap lines were an important tool for keeping commerce moving amid the credit crisis 18 months ago. The European Central Bank is doing its part by pledging to purchase government and private debt in euro countries, thus stepping in when other ...
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EU leaders need to act fast, speak with one voice: Analysts
Oman Tribune
PARIS Pressure is rising on EU and euro zone leaders to speak with one voice, put differences aside and get ahead of the markets in solving the spreading debt crisis. n Italian Prime Minister Silvio Berlusconi: “We are on the frontlines in this battle. ...
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Societe Generale, UBS Recommend Buying Protection Against Breakup of Euro
Bloomberg
UBS currency strategist Chris Walker said “a significant escalation in the euro-zone debt crisis, to the extent the existence of the euro is itself threatened, could lead to the abandonment” of Denmark's currency peg to the euro. ...
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Stock Market
BusinessWorld Online
STOCKS ZOOMED to another record high on Friday, as investors continued to be upbeat about Asia while the US continued to grapple with a budget problem, and the euro zone, with a sovereign debt crisis. The Philippine Stock Exchange index (PSEi) rallied ...
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Eurozone dream crumbling — RT
By RT
Italy is the latest focal point in the ongoing saga of the Eurozone debt crisis. Now, the Senate, the upper house of the Italian parliament, has approved an austerity package intended to save the country some 47 billion euros over three ...
News RSS : Today
A bad time to damage our economy as the next stage of ... - MAARS News
By Valkyries
WITH the US fiscal crisis nearing a dramatic finale, downgrades of European debt ratings continuing and the euro crisis deteriorating, the global financial crisis has just moved into a new phase. ...Although relative levels of debt to gross domestic product are comparable in the US and in Europe, and although budget deficits are lower in many euro-zone countries than in the US, the economic problems are more severe on the eastern side of the Atlantic. ...
MAARS News
Europe's anger grows towards US debt police - Germany's news in ...
The German government fears that the big US credit ratings agencies are aggravating the eurozone's debt crisis. But, as The Local's David Wroe reports, the alternatives are not simple. Bank fails EUstress test (15 Jul 11) ...
The Local - Germany's news in English
Gold Price Starting Decrease | The Daily News Global
By stevie
Gold prices were below its record highs on Friday (15 / 7), after a rally for 9 sessions at the same time pushing up prices as much as 7 percent, due to the euro zone debt crisis and the uncertainty surrounding the U.S. debt negotiation is continuing to ... Italy must pay a higher interest rate in three years to sell nearly 5 billion euros of long-term debt on Thursday, highlighted the pressure on theeurozone economy, public finances in the third largest euro zone's. ...
The Daily News Global
Danger for the euro – makes the Germans fear debt crisis ...
By B.B
by Center for American Progress danger for the euro - makes the Germans fear debt crisis . Dusseldorf (RPO) The debt crisis in Europe is increasingly. ... for a third of Germans, the euro crisisis now the most serious problem. Only rank significantly behind with 22 percent unemployment, the debt (eleven percent) and atomic force (ten percent). As for the whereabouts in the euro zone, Greece has now lost a lot of credit. Each 47 percent of respondents were in favor and ...
Economics Newspaper
Gates of Vienna: News Feed 20110714
By Baron Bodissey
EU in Discord Over Extraordinary Eurozone Summit. » EU Like Titanic: Not Even 1st Class is Safe: Tremonti. » Eurozone Banking Stress Tests Due Amid Fresh Turmoil. » 'Greece Should Never Have Been Allowed the Euro' ... Pressure Rises on Germany in Eurozone Debt Crisis. » Treasurer: Calif. May Borrow $5b if Feds Default. USA. » Judge Declares Mistrial in Roger Clemens Perjury Case. » Thousands Back Tulsa Officer Ordered to Muslim Worship. Europe and the EU ...
Gates of Vienna
Business this week in pictures « Gallery
By Ciara O'Brien
The News of the World published its final issue on Sunday after parent company News International announced the 168-year-old publication would close down in the wake of the phone hacking scandal. Staff at the Irish edition of the ... Ireland, Greece and Portugal are just "minnows" in the overall scheme of European debt levels, and analysts worry the crisis in the euro zone may have entered a new phase. Photograph: Jose Manuel Ribeiro/Reuters. tuesday-debt-crisis- continues ...
Gallery
AmericasNewsNow.com » Europe anger over US credit rating 'oligopoly'
By Maverickguy
Europe anger over US credit rating 'oligopoly' While the US finds itself in danger of a credit ratings downgrade due to a national debt crisis, a number of European countries have seen their status fall even further. Stand & Poor's, Moody's and Fitch - the three largest US-based credit rating agencies - have been criticised by European policymakers who say they have been too quick to downgrade indebted EU states during the euro zone debt crisis. Rainer Bruederle, the head ...
America's Breaking Local And World News
NewsDaily: Europe's banks brace for clutch of health test failures
By Steve Slater and Huw Jones
The International Monetary Fund has warned Europe it is taking too long to rebuild its banking system and has lagged the repair work done in the United States since the financial crisis, while the threat of the Greek debt crisis spreading to bigger ... Euro zone sources told Reuters two weeks ago that 10 to 15 banks are likely to fail the test, with casualties expected in Spain, Greece, Germany and Portugal although no large bank is expected to fail. ... More Top News ...
NewsDaily: Business Headlines
ekathimerini.com | Greek banks brace for stress tests
LONDON - [Dow Jones] Greek banks are in the eye of the storm, to be closely watched in Friday'sEurope-wide stress tests, with particular attention on their vulnerability to sovereign debt as euro-zone debt crisis continues to drag down ...
ekathimerini.com : Latest News
The 4th Media » Financial Turbulence Shakes the Eurozone: Facing ...
By Kiyul Chung
Financial Turbulence Shakes the Eurozone: Facing the Debt Crisis in Europe. Post Categories: Debate. Share: Damien Millet | 2:19 BeiJing Time,Saturday, July 16, 2011. 0 views. Comments(0). One of the avatars of the financial sector ... from 120 to 160 billion Euros. Western European bankers jostled to loan money to the European Union periphery to anyone prepared to incur debt. Not satisfied with taking extravagant risks across the Atlantic in the subprime market with the ...
The 4th Media
Ireland Greecified | Acting Man
By Pater Tenebrarum
The IMF noted on this occasion that 'Ireland's debt is manageable, but that the country needs aEurope-wide resolution to the debt crisis if its borrowing costs are to fall'. Well, duh. As Reuters reports: „Ireland's debt burden is ... But Irish bond yields, which hit a record high on Wednesday, remained elevated due to the deepening euro zone crisis and Moody's downgrade of Ireland's credit rating to junk status this week. Ajai Chopra, the IMF's mission chief to Ireland, ...
Acting Man
Euro zone crisis hits stocks, euro for 3rd day - Yahoo! News
Read 'Euro zone crisis hits stocks, euro for 3rd day' on Yahoo! News. ... as concern mounted that the euro zone debt crisis was spreading to Italy and Spain, ... from Europe and the broader implications for the euro," said David Ader, ...
news.yahoo.com/eurozone-debt-worry-batters-asian-stocks-01...
Euro zone makes fresh bid to tackle Greek crisis - World news ...
Euro zone countries continued to grapple with the thorny issue of involving ... Kenny's call for a comprehensive EU response to the spreading debt crisis. ...
www.msnbc.msn.com/.../europe-impasse-greece-imf-backs-in...
Debt crisis spreads to shake Europe's core - WMDT 47 News ...
WMDT 47 News - Delmarva's ChoiceDebt crisis spreads to shake Europe's core ... Markets took a nosedive on worries that the eurozone's third and fourth ...
www.wmdt.com/.../eurozone-weighs-more-powers-for-bailout...

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