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Jul 24, 2011

EUROZONE Debt Crisis News, Jun 24, 2011

The eurozone crisis is on pause, not over
Financial Times
For it to be a positive contribution to the eurozone debt crisis, it should meet three tests. Will it put Greece on a path towards sustainable debt reduction? Will the new rules for the European financial stability facility make contagion less likely? ...
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George Osborne: We'll use euro crisis to boost British interests
Telegraph.co.uk
Mr Osborne says the survival and stability of the euro – now facing its worst problems since coming into being, in the wake of Greece's sovereign debt crisis – is "hugely in Britain's national interests". However, describing himself as a "eurosceptic", ...
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Telegraph.co.uk
IMF welcomes agreement to tackle Eurozone crisis
Daily Mirror
IMF Managing Director Christine Lagarde welcomed the July 21 agreement by the leaders of theeuro area on a comprehensive package of measures to help Greece overcome its sovereign debt crisis and improve the tools available to fight future crises. ...
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Oil Market Outlook
Bangkok Post
Rising anxiety over the euro zone debt crisis and uncertainty about US debt ceiling negotiations weighed on crude prices and dampened the risk appetite for commodities and stocks earlier last week. Market sentiment, however, improved following positive ...
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Felix Zulauf on the inevitability of further crisis in Europe
Credit Writedowns
As Zulauf points out in a part of the interview not quoted above, not only is fiscal policy restrictive, so too is monetary policy in the euro zone. Two weeks ago I said the Eurozone sovereign debt crisiswas at a critical point and outlined how I saw ...
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Weekly Treasury Update
Gulf Times
The dollar may fall next week on concern the US may lose its top-notch credit rating with politicians nowhere close to reaching an agreement on lifting the US debt ceiling as an August 2 deadline looms. Fears of a full-blown eurozone debt crisis have ...
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Low Interest Rates Could Spur Perpetual Bonds
Wall Street Journal
But the euro-zone debt crisis and market saturation sent sales crashing to $572 million in May and $334 million in June. But the lure of cheap, stable financing could tempt issuers back into the market. Perpetuals, with no maturity date, give buyers a ...
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EU commissioner's rallying cry to smash big three
The National
The big three of Standard & Poor's Ratings Service (S&P), Moody's Investors Service and Fitch Ratings have been coming under fire from EU leaders in recent weeks. Officials claim the trio's actions have been aggravating the debt crisis and need to have ...
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George Osborne: A stable euro is in Britain's best interest
Telegraph.co.uk
Eurozone leaders have bought themselves a breathing space. Now we should reflect on the lessons for Britain in the crisis. By George Osborne One word sums up the biggest economic challenge facing the developed world: debt. It's the problem that lies...
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Telegraph.co.uk
Timothy Garton Ash
The Age
America's soaring debt is a danger to the country's credibility and power in the world but does not threaten the union itself. The euro zone crisis puts in question the very future of Europe's more recent and looser union. The EU is a commonwealth of ...
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Europe held
Kathimerini
The fear of a Greek bankruptcy and contagion of the crisis created the need for a solution that would safeguard the credibility of the eurozone and would assure European citizens and the markets that the European Union is determined to succeed. ...
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Role reversal
Philippine Star
The European debt crisis, which is currently unfolding, brings back memories of the Asian financialcrisis. Isolated only to the Eurozone, debt yields spiked and the Euro weakened as a result of concerns over the ability of sovereign states to service ...
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EU Deal on Greece a chance for Cyprus to avoid complacency
Cyprus Mail
By Stelios Orphanides Published on July 24, 2011 THE DEAL struck by European leaders on Thursday aiming at helping Greece overcome its debt crisis and prevent contagion to other euroarea countries gives Cyprus another chance to deal with its ...
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Eurocrats steamroller democracy
The Australian
There is an undeniable crisis of the whole concept of European integration whose most visible "tip of the iceberg" is the eurozone debt crisis. Europe is experiencing a very unimpressive economic recovery following an unexpectedly deep financial and ...
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Greece's Crisis Long in the Making
truthout
The EU's handling of Greece's debt crisis has been a dismal affair at best, and a fine display of the huge void in European leadership. The bailout plan was nothing more than a sure way to secure payment for the banks and the private bondholders and ...
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truthout
Crude Oil Analysis for the Week of July 25, 2011
OilPrice.com
By Friday, the euphoria which had been driving the Euro higher along with crude oil prices had subsided as traders focused on whether the rescue package would stop the sovereign debt crisisfrom spreading throughout Europe. Also helping to underpin the ...
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Unheeded Lessons: What Did We Fail to Learn From the Financial Crisis?
msnbc.com
"The crisis started with too much private-sector debt; socialization of private losses then caused public debt. Some of these sovereigns got into such debt that they lost market access. Now we have super-sovereigns like the IMF, [European Central Bank] ...
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Vince Cable attacks 'rightwing nutters' over US debt ceiling talks
The Guardian
Most experts agree that if the US were to default on its debt payments, stock and bond markets worldwide would plunge, threatening a new great recession. The deadline for agreement is just over a week away, on 2 August. On the crisis in the eurozone,...
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The Guardian
Gold Beyond $1600 in Uncharted Territory
Benzinga
By seekinGold We reached the $1600/oz price forecast target as the EU debt crisissees no end in sight and the debt ceiling talk is not making that much progress. This is the 10th-straight gain for the yellow metal. How high can the prices move up in ...
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Benzinga
BUSINESS IN BRIEF
TheChronicleHerald.ca
Gold surged past $1600 a troy ounce for the first time, as the euro zone crisis and uncertainty over America's federal debt ceiling sent investors piling into assets regarded as safe. The Swiss franc reached an all-time high against the euro and yields ...
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Margareta Pagano: Has Frau Merkel become Madame Oui?
The Independent
In ARD's interview with the Chancellor, Merkel explained that the "money and the savings of the German people are safe" – a sentiment which hasn't been expressed quite so fully since the euro crisis erupted three years ago. For the Germans, this was ...
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Britain awaits key growth data amid eurozone fallout
MSN Philippines News
Greece was last week handed a 159-billion-euro rescue, risking a potential default in order to prevent the debt crisis from spreading worldwide. "The heightened eurozone sovereign debt crisis is a serious ongoing threat to growth prospects" in Britain, ...
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Contagion in all three forms now has grip on Europe
Independent Online
Some of this spillover also happened during the financial crisis of late 2008, when shrinking demand in the US and Europe rippled through to Asia. Fortunately, most Asian countries were well prepared; their governments had modest debt and didn't need ...
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Gold Prices Hold New Highs
Town Hall
The debt crisis in Europe was amplified by a breakdown in the debt ceiling negotiations in Congress. Markets are now seriously considering previously unthinkable that the United States of America could be forced into self-inflicted default. ...
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JOHN MAULDIN: Kicking The Can One Last Time
Business Insider
Will European voters go along with the continual lurching from crisis to crisis and piling more and more debt onto taxpayers? Will Germany allow the ECB to destroy its balance sheet and the eurowith it? Can they keep their Bundesbank mentality in ...
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Even now, the European project remains a noble one. Let's join in
The Guardian
The banking crisis was no more foreseen in the Euro countries than in Britain, and many of them were directly affected. Economic policies of austerity in the UK, which are compounding our problem, as you note, can be changed without entering the Euro, ...
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Opportunities amid the jitters
Independent Online
Investors, fund managers and other market watchers were fed a steady diet of bad economic news about developed countries, in particular the debt crisis in Europe and the US, in the first half of this year. US investment writer John Mauldin this week ...
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Forex - AUD/USD weekly outlook: July 25-29
Forex Pros
In the week ahead, as concerns over the sovereign debt crisis in the euro zone recede, investors will be focusing on US efforts to agree on a USD3 trillion deficit-reduction plan, amid fears over a potential default ahead of the August 2 deadline to ...
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PRIOR WEEK MARKET MOVERS & LESSONS: BULLISH CHARTS BEARISH FUNDAMENTALS
Business Insider
Except for Monday, markets steadily anticipated at least a deferral of the second annual Greek default threat crisis, and reacted positively to latest second annual Greek rescue plan when announced Thursday, as flawed as it was (see below for why). ...
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All lasting constitutions secure the majority
Bulawayo24
The same crisis is manifested differently in the United States, where the only solution so far has been to keep on raising the debt limit for deficit spending. There is a currency war within the US-led empire because the rise of the BRICS countries ...
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Britain to defend its interests in eurozone crisis: minister
Times of Oman
Britain: Britain will defend its interests as the eurozone rallies to fight rising debt tensions, finance minister George Osborne said Sunday. The survival of the euro was "hugely in Britain's national interests," he wrote in The Sunday Telegraph but ...
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UAE to grow 3.7% and GCC 6%
Emirates 24/7
The study said Bahrain, which has little oil, stands out as the only GCC economy whose growth outlook appears to have been significantly hit by the crisis. “We expect the GCC region as a whole to grow by some six per cent this year and by some five per ...
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[Emma Bonino] Could prospect of Italian collapse finally unite EU?
The Korea Herald
In the absence of a strong and credible EU-wide commitment to stop the contagion, other eurozonecountries hit by the sovereign-debt crisis have been following a similar script. But the financier George Soros is right: Europe needs a “Plan B.” The huge ...
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Roamer's column
Times of Malta
Else how explain his management of a country that stayed on top of an international crisis to its south and a global financial crisis that engulfed countries and threatened others. His government attracted foreign direct investment on a scale undreamed ...
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Kuwait bourse weathers turbulent week
Kuwait Times
Also the arising financial crisis in the US and euro-zone further damped the sentiments. However, later on during the week traders got some boost in sentiments following the announcement of the newly formed regulator Capital Markets Authority's (CMA) ...
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Forex - Weekly outlook: July 25-29
NASDAQ
Elsewhere, the Swiss franc pared gains against the euro and the greenback last week, after rallying to record highs amid concerns that the debt crisis in the euro zone was deepening. The Canadian dollar also pared gains against the greenback, ...
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Forex - USD/CHF weekly outlook: July 25-29
NASDAQ
Switzerland's Economy Minister Johann Schneider-Ammann said the situation caused by the weakeuro was "alarming" and joblessness could rise sharply. In the week ahead, as concerns over the sovereign debt crisis in the euro zone recede, investors will ...
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Asian investors stricken by gold fever on record price
Reuters India
Deepening worries about debt crisis contagion in the euro zone, uncertainties around US growth in the second half and its impact on the greenback, are likely to increase central banks' appetite for gold. "If you look at projections on debt for the ...
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Reuters India
WRAPUP 3-Germany, France reach accord on Greek bailout | Black ...
By JamJam
BERLIN/PARIS, July 21 (Reuters) – Germany and France have reached a common position on a second bailout of Greece in their effort to prevent the country's debt crisis from spreading throughEurope, officials said on Thursday. ... corners of Europe and beyond,” Barroso told a newsconference. Britain's finance minister George Osborne, in an interview with the Financial Times published on Thursday, urged euro zone leaders to “get a grip” on the debt crisis when they met on...
Black People In Business - World Wide
China PBOC's Zhou Says Welcomes Greek Aid Package | ForexLive
through its current debt crisis, arguing the plan will help eurozone financial stability and support the global economic recovery. “This will help to solve the eurozone sovereign debt crisis, maintain theeurozone and the financial ... Zhou reiterated China's confidence in the eurozone and the euro and said the country will “continue to play an active and stabilizing role in the international financial markets.” “The European financial markets were, are and will be one of ...
ForexLive
Analysts boosts gold and silver prices ... - China Business News
By CBN
Analysts boosts gold and silver prices forecasts for this year. Analysts have boosted gold price forecasts for this year and next due to persistent concerns over the euro zone debt crisis, and fresh worries over the USrecovery and debt. ...
China business news
Europe agrees sweeping new action on debt crisis - Yahoo! News
Read 'Europe agrees sweeping new action on debt crisis' on Yahoo! News. BRUSSELS (Reuters) -Euro zone leaders have agreed on a bold rescue package for ...
news.yahoo.com/germany-france-reach-accord-greek-bailout-...
Eurozone debt crisis: Greece bail-out is 'a risk to EU'
Jens Weidmann detailed his concerns in a statement issued after European leaders agreed the latest €159bn (£140bn) plan to stem Greece's debt crisis and ...
www.freerepublic.com/focus/f-news/2753048/posts
Text of eurozone debt crisis draft agreement — EUbusiness - legal ...
You are here: Home → Breaking news → Text of eurozone debt crisis draft ... to Greece and preventing debt contagion: COMMITTED TO ENSURE EURO STABILITY ...
www.eubusiness.com/news-eu/eurozone-finance.bh8
Fitch calls default, Greece pledges no let-up on debt - World news ...
Next story in Europe Nurse arrested after 5 patients die at UK hospital .... Many economists believe the only way out of the euro zone's debt crisis in the ...
www.msnbc.msn.com/.../fitch-calls-default-greece-pledges-no-...
FACTBOX - New euro zone steps on debt crisis - Forex
Euro zone leaders agreed on Thursday to conduct a second bailout of Greece and on ... Europeagrees sweeping new action on debt crisis · Euro Rallies on EU Draft ... as it happens—from breaking forex news to updates from other traders. ...
www.ibtimes.com/.../factbox-new-euro-zone-steps-on-debt-cri...

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