Today: EUROZONE Debt Crisis News, Jul 28, 2011

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Jul 28, 2011

EUROZONE Debt Crisis News, Jul 28, 2011

Six reasons Europe's debt crisis isn't over
TIME (blog)
Sure, Europe's leaders are probably feeling good about themselves after finally cobbling together a second bailout of beleaguered Greece last week. They also made some important changes to their approach to the debt crisis that give the euro zone a bit ...
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Italy borrowing costs soar in volatile euro markets
Reuters
By Valentina Za and Marius Zaharia MILAN/LONDON (Reuters) - Italy's borrowing costs soared at a closely watched bond auction on Thursday as investors worried by theeuro zone debt crisis and an impasse over the US debt ceiling exacted a high risk ...
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Reuters
The euro crisis
The Economist
In their response to the sovereign-debt crisis, Europe's policymakers have tended to favour the peashooter. Their latest salvo in defence of Greece on July 21st produced some favourable initial reports, but the bang has faded. In a strange inversion of ...
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EU crisis resolution on positive path: Italy min
Reuters
ROME (Reuters) - Euro zone leaders are on a positive path to resolving the bloc's debt crisis but need to ensure plans take effect and are understood by markets, Italian Economy Minister Giulio Tremonti said on Thursday. "I believe the process underway ...
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European shares close higher on US debt hopes
Reuters
There were also still concerns that the euro zone debt crisis could spread beyond Greece to other, bigger countries, with Italian yields rising near 6 percent after a bond auction. A Reuters asset allocation poll showed fund managers have reduced ...
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GLOBAL MARKETS-US stocks, dollar gain on jobs, housing data
Reuters
But in Europe the disappointing demand at the Italian debt auction rekindled anxiety that the European debt crisis is far from over despite the recent 109 billion euro aid package for Greece. "Global risks are outweighing the US debt ceiling situation ...
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EU policy makers continue to speak a different language on the debt crisis
FXstreet.com
We didn't change our LT view on EUR/GBP yet. However, during the recent crisis, we couldn't but turn more cautious on all euro long exposure. After last week's EMU debt plan, short-term event risk on the euro zone has declined. ...
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TREASURIES-Bonds rise on European weakness before 7Y sale
Reuters
Disappointing demand at an Italian debt auction sparked worries that euro zone's third biggest economy is closer to the brink of the debt woes plaguing its neighbors. This rekindled anxiety that the European debt crisis is far from over despite the ...
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The Energy Report - Debt Crisis Bingo.
International Business Times
Italian debt weakened in the secondary markets after the auction and the 10-year BTP-bund spread, up 16.6 basis points on the day at 327 basis points, is near euro area highs. The higher yields came despite euro-zone leaders agreeing to a deal on ...
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Italy Faces a Long List of Barriers to Growth
New York Times
As Italy teeters on the edge of the European debt crisis, it can ill afford more debacles like that one. Otherwise, despite having the world's seventh-largest economy, Italy may have little hope of outgrowing the staggering debt load that could ...
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New York Times
EU states seek to freeze 2012 budget as debt crisis and austerity loom large
Irish Times
EU MEMBER states are angling to freeze the union's budget next year, laying the ground for difficult talks in the autumn with MEPs. As they grapple with austerity in their domestic budgets and the sovereign debt crisis in the euro zone, ...
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GLOBAL MARKETS: European Stocks Move Off Initial Lows
Wall Street Journal
"The German labor market is defying the global soft patch, financial turmoil and sovereign debt crisis," said Carsten Brzeski at ING Bank. Seasonally-adjusted unemployment dropped by 11000, the sharpest drop since April, keeping the unemployment rate ...
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Australian dollar slips on euro-zone debt worries
The Australian
The Australian dollar had set a new record in overseas markets last night, but drifted lower in early morning domestic trade today, on renewed concern about Europe's debt crisis. By 8.10am AEST, the Australian dollar was at $US1.018, ...
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CEE MONEY-Shields up, emerging Europe braces for contagion
Reuters
"And that will depend on how the crisis in the euro zone plays out." The most immediate fear is that deterioration in the euro zone periphery or a US default will prompt investors to dump risky assets, driving up debt yields and hammering currencies. ...
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EUR/USD Ranging Lower as Debt Looms Over Both Currencies
Benzinga
By YohayElam Euro dollar is trading in a narrow and lower range, after it became clear that the tools that the EU has to fight the debt crisis are limited. Another disappointing employment report from Germany doesn't help either. ...
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Dollar Gains On Euro, Extends Record Low Versus Swiss Franc
RTT News
With problems associated with Europe's debt crisis still impacting the markets, the dollar has managed to pare its recent losses against the euro, improving to $1.4275 this morning. The buck started the week at $1.4525. Eurozone economic confidence...
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RTT News
Which Is in Worse Shape, US or Europe?
New York Times (blog)
The euro zone still faces an immediate crisis: the can was kicked down the road last week, but not far. The United States, on the other hand, is in much better shape over the next decade than you might think after listening to politicians of any stripe ...
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Cyprus cabinet resigns as crisis grows
PublicServiceEurope.com
Meanwhile, the eurozone's biggest economies continue to be dragged into thedebt crisis. The International Monetary Fund has warned France that it must make deeper spending cuts if it is to meet its deficit reduction targets. With lower than expected ...
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PublicServiceEurope.com
Monetary house of cards
China Daily
The lack of an effective monitoring and regulatory regime is the direct cause of the current eurozone sovereign debt crisis. With the birth of the euro, EU countries passed an agreement stipulating that the fiscal deficit in eurozone countries should ...
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China Daily
Investors embrace equities, shun euro zone
Financial Post
The investors appeared to be balancing the immediate concerns of controlling the euro zone debt crisis and dealing with Washington's partisan struggle to raise its debt limit against longer-term opportunities. “Medium-term we are more optimistic as we ...
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US debt crisis: failure to tackle debt sends global markets into tailspin
Telegraph.co.uk
... to service its own sovereign debt. Michael Woolfolk, from Bank of New York Mellon, said: "The immediate crisis has passed, but it hasn't fixed the underlying problems, and that's why the market has been less than excited about holding euros. ...
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Telegraph.co.uk
Reports Heighten Concerns About German Economy
New York Times
However, the company's preferred shares plunged 5 percent after Martin Winterkorn, the chief executive, warned that Europe's sovereign debt crisis could hurt sales. “The coming months will be challenging for us,” Mr. Winterkorn said. ...
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A Summertime Financials Sequel Coming Soon
Seeking Alpha
It is, of course, the ongoing European sovereign debt crisis. And in this story, we have countries buckling under the weight of too much debt that they may never be able to pay back. Signals out of the euro zone over the last few days have been ...
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Emerging Europe and eurozonitis
Financial Times (blog)
Looking at the debt/financing angle, emerging Europe is not facing a solvency crisislike many countries in the eurozone; save for Hungary, debt is much lower than in theeurozone, at around 40 per cent of GDP at present – half the average for the EU ...
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Financial Times (blog)
Agricole Says Could Take Up To EUR850M Greece Hit
Wall Street Journal
A week ago, euro-zone leaders thrashed out a new Greek bailout worth EUR109 billion in a bid to prevent the sovereign debt crisis spreading across Europe. Under the terms of the plan, private bondholders are expected to take a 21% loss on the Greek ...
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Debt restructuring the only way to save Ireland and the EU
Irish Examiner
By Ivan Yates EUROCRATS and politicians still conspire to ensure that the truth is obscured about our future debt destiny. Crisis management continues to be the order of the day within the EUhierarchy. The outcome of last week's summit means the ...
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European Factors-Shares set to fall for fourth day
Reuters
The euro zone debt crisis also continues to weigh on markets, with ratings agency Standard & Poor's cutting Greece's credit standing further into "junk" and saying the European Union'sproposed debt restructuring would put the country into "selective ...
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F&C ASSET MANAGEMENT : GEM credits cash in on Euro debt crisis, US unlikely to ...
4-traders (press release)
The continued slowdown in the core Eurozone economies played a part in this lack of confidence. Martin's view is that Core Europe is still far away from the deep-rooted balance sheet malaise of the strength and the political appetite for continued ...
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Eurozone Debt & US Default Risks Global Contagion
Resource Investor
Europe's STOXX bank index has lost about 25% since mid-February suggesting jitters regarding the possibility of a second phase to the banking crisis. The Dow to Gold Ratio has again turned down suggesting gold may continue to outperform US stocks and ...
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Yesterday we expected T-Notes to stay in a range on light volume
FXstreet.com
Strategy This morning has seen further heavy losses for the Euro as the Eurozone debt crisis continues to deteriorate. We have heard rumours that the Italian Finance Minster is to resign (rumours have been denied) and concern that Cyprus may be the...
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FXstreet.com
French twist
Financial Times
Now that Europe's sovereign debt crisis is concentrating minds in France, Nicolas Sarkozy, centre-right president, is pressing the Socialist opposition to support the insertion of a “golden rule” into the French constitution that would oblige ...
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European, Japanese Stocks Decline
Wall Street Journal
He also cautioned that last week's euro-zone summit shouldn't be seen as a resolution to the region's debt crisis. Banks took the brunt of the selling. Banco Santander fell 3.2% in Madrid after reporting a 38% drop in second-quarter net profit. ...
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Debt impasse pushes US stocks down
National Business Review
Stocks on Wall Street fell for fourth straight session amid signs of economic softness and a deepening impasse on the US debt crisis. Most other world markets also fell, while gold reach a new trading high. At the close (8am NZ time), the Dow Jones ...
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Euro Slids for Second Day on Debt Crisis Concern — Forex News
By Andrei Moraru
Euro The euro fell against all of its major counterparts today, as the fear of the debt crisis spreading beyond Greece and other troubled countries of the Eurozone. The euro is currently demonstrating a second bearish day in a row ...
Forex News
NewsDaily: Italy borrowing costs soar in volatile euro markets
By Valentina Za and Marius Zaharia
Italy's borrowing costs soared at a closely-watched bond auction on Thursday as investors worried by the euro zone debt crisis and an impasse over the U.S. debt ceiling exacted a high risk premium.
NewsDaily: Top Headlines
Air France-KLM Quarterly Loss EUR€212 Mln - Airwise News
Air France-KLM posted a EUR€212 million (USD$308 million) net loss last quarter as fuel bills rose and it took a knife to plans to offer more seats next winter amid mounting fears over the euro zone debt crisisEurope's largest airline ...
Airwise News Top Stories
Italy Struggles | Live Stock Trading News | Equities, Forex, Gold ...
By Shayne Heffernan
Italy borrowing costs rise in volatile Euro markets. Italy's borrowing costs soared at a closely watched bond auction on Thursday as investors worried by the EuroZone debt crisis and an impasse over the US debt ceiling exacted a high ...
Live Stock Trading News | Equities,...
NewsDaily: Bank trading slump to spark more job losses
By Kirstin Ridley and Steve Slater
The U.S. is getting deeper into trouble, Europe is in the doldrums -- there's no good news out there." Changes in pay structures -- with banks ramping up fixed salaries to compensate for pressure to cut bonuses -- have given them less flexibility ... Rivals have also seen activity slump as the euro zone debt crisis prompts investors to shy away from the market. The boom in fixed income sales and trading in the months following the financial crisis, which prompted many to ...
NewsDaily: Business Headlines

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