Today: EUROZONE Debt Crisis News, Jun 27, 2011

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Jul 27, 2011

EUROZONE Debt Crisis News, Jun 27, 2011

US debt, euro zone crisis hit European shares
Reuters
Fears of contagion in the euro zone debt crisis also hit share prices. Banks were the worst performers, with the STOXX Europe 600 Banks index down 2.2 percent. The index has lost 5 percent in the past three-days. Although most think the United States ...
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EURONOMICS: EU Summit Losing Its Soothing Effect
Wall Street Journal
German Finance Minister Wolfgang Schaeuble on Wednesday said in an open letter to lawmakers belonging to his Christian Democratic Party that the euro-zone debt crisis isn't over and that more discipline was needed. He also said that Germany wouldn't ...
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Air France-KLM adds euro zone crisis to risk list
Reuters
PA) posted a 212 million euro ($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 crisis.Europe's largest airline by revenue said its ...
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EURO GOVT-Bunds rally on US, euro zone debt worries
Reuters
By Kirsten Donovan LONDON , July 27 (Reuters) - German government bonds rose on Wednesday, supported by doubts over whether measures to stem the euro zone debt crisis were enough to stop contagion to the region's larger economies and by deadlock in ...
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Debt crisis: America faces a decision that will affect us all
Telegraph.co.uk
The financial crisis will force the Obama administration to make a choice that will define its future - and ours. By Jeremy Warner To understand the origins of today's stand-off between Republicans and Democrats over the US debt crisis, it is necessary...
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Telegraph.co.uk
Poll: EU's Greek deal no turning point, but perhaps first step
Reuters
By Andy Bruce LONDON (Reuters) - The European Union's latest rescue package for Greece should not be seen as a turning point from which the euro zone debt crisis will start to be resolved, but simply a step in the right direction, a Reuters poll of ...
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Don't blame Obama for the debt crisis
Salon
In the Financial Times, Harvard professor Martin Feldstein slams Obama's policies, and suggests that the administration is to blame for unemployment and much of the debt crisis. Feldstein wields gravitas as a former chairman of the Council of Economic ...
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Salon
Weekly Outlook - Greece Crisis Contained, US Debt now?
IBTimes Hong Kong
The Dollar was under heavy selling pressure after the EU summit was able to stabilize the GreeceDebt crisis and lessen the chance of contagion. This combined on Friday and over the weekend with a break down in the US debt Ceiling negotiations and left ...
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London Session: The two-speed global economy
FXstreet.com
Inflation may be the chief economic threat in the East, but in the West the Eurozone sovereigncrisis and the US debt ceiling threaten the world's major economies with deflation. Unless a major event like a US or European default actually occurs, ...
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S&P Cuts Greece's Ratings
Wall Street Journal
European leaders are seeking to corral an 18-month-old debt crisis. The woes have led to a number of recent downgrades for troubled euro-zone nations, including Portugal and Ireland. But the issues tend to center around Greece, which has struggled with ...
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Size Of Greek Bailout Package Is Still Under Debate - Sources
Wall Street Journal
Many IMF board members, particularly from emerging markets, are concerned that the fund is overexposing itself to the European sovereign-debt crisis. According to one of the officials, the IMF is unwilling to contribute more than the 27% of public ...
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History's lessons for the European debt crisis
UC Berkeley (blog)
... by responding to the Greek debt crisis with greater integration. Last week, the European Financial Stability Facility (EFSF) gained the authority to buy state bonds from private banks and insurers in order to support threatened euro-zone countries. ...
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The Politically Inspired Crisis
Live Trading News
Polls show a majority of Americans are happy for the debt ceiling not to be raised, although its not clear that those being surveyed are fully aware of the consequences of such a step. Euro zone officials examined three broad options for securing the ...
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Live Trading News
The future of Greece remains uncertain
UPI.com
By MORAN ZHANG, MEDILL NEWS SERVICE, Written for UPI WASHINGTON, July 26 (UPI) -- Despite a second bailout deal, the Greek debt crisis is far from over. "Turbulence could easily resurface," Christine Lagarde, the International Monetary Fund managing ...
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PRECIOUS METALS: Gold At Record, Modest Gains Reveal US Debt Hopes
Wall Street Journal
Gold futures have thrust further into uncharted territory as concerns about the US borrowing limit overtook Europe's sovereign-debt crisis, which subsided after Greece secured a second bailout fromeuro zone members last week. ...
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The euro and your savings have been given a reprieve, not a rescue
Anglo Celt
Can a catastrophic debt crisis be solved with more debt? No, but the EU is determined to buy more time. So how should you respond in terms of safeguarding your own savings? Optimists predict that this latest deal will work. Pessimists say it won't. ...
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Funding, capital levels in focus at Santander H1
Reuters
By Sonya Dowsett MADRID, July 27 (Reuters) - Investors will focus on the effects of a moribund home economy and a euro zone debt crisis on Spanish bank Santander when it reports first half results before the market opens on Wednesday. The euro zone's ...
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What the New EU Deal Will, and Won't, Do
TheStreet.com
The new EU deal has the potential to become a game changer, although it crucially depends on its ratification and implementation within the next few months. In the short term it has been difficult to disentangle the effects of the eurozone crisis from ...
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EUR/CHF in Bearish Breakout; Swing Projection Targets 1.13, a Record Low
FXstreet.com
by Fan Yang - FXTimes | View company's profile - The EUR/CHF is seen in the 1H chart breaking below a projected channel support. This suggests the risk aversion stemming from the eurozone debt crisis was not cleared by the EU summit last week. ...
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The world we used to know is no more and is still changing
Sydney Morning Herald
It was an example of how in today's world what started as a subprime mortgage crisisin the south of America literally swept the world and precipitated that global financialcrisis. But if you look at the euro zone today, and the difficulties that it ...
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Sydney Morning Herald
Robert Mundell: How to save the euro
Risk.net
He says to pull the euro area out of crisis, policies are needed "for the short run, intermediate run and long run". In the short term, Mundell says policy is needed to manage the debt crisis. "This must involve austerity and adjustment along with ...
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Risk.net
Italy assets close sharply lower on contagion fears
Reuters
The drop came as the yield premium on 10-year Italian BTP bonds over German Bunds widened to 313 basis points from 290 basis points on Thursday on worries that the euro zone crisis could widen to Italy. The 10-year BTP fell almost a full point in price ...
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GLOBAL MARKETS-Partisan Washington tips investors to safety
Reuters
The region's shares have also been hit by worries over the euro zone debt crisis, where there are still strains despite a second Greek bailout plan. Europe's ongoing pain over the debt in its peripheral economies was on display in bond markets. ...
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Forex - Asia Close Highlights
FXMarketAlerts.com
Indonesia: BI Dep Gov opined that stronger IDR was due to a weak dollar and not inflows; expect USdebt crisis to be resolved. - India: FinMin said 8% food WPI was unacceptable; expects end-Dec rate at not 6-7%. - India: RBI Dep Gov Gokarn said moves ...
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Debt Worries Hit Dollar, Euro
Wall Street Journal
That option had been assumed when euro-zone policy makers hammered out Greece's new aid package last week. It was seen as crucial to their efforts to stop the crisis from spreading to other indebted nations, such as Spain and Italy. ...
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Mobius: talk of euro's demise is 'way off target'
Citywire.co.uk
Questions have been raised as to whether countries on the fringes of the eurozone would still seek to join given the sovereign debt crisis, with some suggesting that countries, such as Poland, would be more inclined to go it alone in the future. ...
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EUR/USD Sliding in Range on Doubts About Summit Restuls
Benzinga
By YohayElam Euro dollar is sliding in range as fresh fears rose about the implementation of the decisions in the EU summit. The euro is unable to enjoy the weakness of the greenback across the board, as no solution to the debt ceiling crisis is in ...
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Europe Stocks Seen Edging Down; Eyes on US Debt
CNBC.com
The news comes after the Bank of International Settlements said that global banks considerably reduced their exposure to rivals in the euro zone and UK in the first quarter of 2011 amid fears over the euro zone debt crisis. ...
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CNBC.com
Irish Sovereign Pension Fund Drops To EUR5.27B On Bailout Cost
Wall Street Journal
... major lenders that required billions of euros of government aid amid the country's debt crisis. The directed fund assets include shares in the two banks and other rescue monies. As part of a bailout deal struck in November with the European Union ...
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German inflation hits 3-month high, pressures ECB
Reuters
... of robust growth in Europe's biggest economy. But the ECB must balance that against the deep sovereign debt crisis in peripheral euro zone economies and signs of slower global economic growth, before raising rates for a third time this year. ...
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BIS: Banks Cut Lending To Euro Zone, UK In 1Q
NASDAQ
For the last year, they have followed an uneven pattern, but the first-quarter data are well below the rate of lending growth seen before the crisis. Within the euro zone, exposure to the five countries with the most worrying debt problems, Greece, ...
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Analysis: Japan mulling FX intervention
Reuters
Back then, it was anticipated further aggressive Fed easing and euro zone's debt woes. This time it is a stand-off in Washington over raising the US debt limit and Europe's debt crisis again. Tokyo intervened on September 15, shortly after the dollar ...
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International financial news
Ninemsn
NEW YORK - International Monetary Fund managing director Christine Lagarde urged the eurozoneto implement its plan to fight a sovereign debt crisis. WASHINGTON - US banks and money market funds have significant indirect exposure to Europe's debt ...
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Seeking a Path out of the Crisis in Portugal
Spiegel Online
Portugal has overreached financially, and it will have trouble coping with the crisis. Could the euro zone be facing a second Greece? The new center-right government headed by Prime Minister Pedro Passos Coelho assembled a brutal austerity package,...
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Spiegel Online
Why here? Why now? Why this particular eurozone peripheral?
FT Alphaville (blog)
It is, perhaps, a pattern that was first seen in the Asian crisis and the emerging market drama of the 1990s. The question then was “what's the difference between Russia and Brazil?” To which the only half-joking answer was “about nine months. ...
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MARKET COMMENT: Europe Ends With Losses As Santander, Peugeot Drag
Wall Street Journal
Adding to the jitters, German Finance Minister Wolfgang Schaeuble reportedly said that the additional Greek bailout and revamp of the euro zone's rescue fund doesn't mean the end of thedebt crisis. In Spain, Banco Santander slid 3.2% after posting a ...
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Crises keep SA rates low
Fin24
The trouble with a disorderly debt default in the eurozone is that it will cause the rand to crash. The unit recently blipped above R7/$ before gaining ground again. But if the eurozone debt crisisdeepens, the euro will crash and SA's currency with it ...
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FTSE falls as US debt divide weighs on financials
Reuters
... the debt crisis, bore the brunt of the selling. Goldman Sachs downgraded its recommendation on European banks to "neutral" from "overweight," citing stresses placed on the sector from the ongoing euro zone debt troubles. "Domestic banks inEurope ...
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Reuters
EU Morning Report- Uncertainty over US debt ceiling weighs on the dollar
Easy-Forex
The euro firmed against the dollar rising as high as 1.4535 from 1.4357. The single currency got a boost last week against its major counterparts as the agreement on a bailout plan for Greece easedeurozone debt contagion fears. ...
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CEE issuers have been a clear beneficiary of the crisis-Popp
Balkans.com Business News
This change of heart strikes to the core of the problems that the Eurozone is currently facing. Prior to the crisis, interest rates across the Eurozone were rapidly converging as despite the fact that members of the euro skipped over the hard fiscal ...
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EIOPA : Eurozone debt crisis biggest threat to ... - News Insurances
By Tom Scott
The Eurozone sovereign debt crisis is the biggest threat to Europe's insurers. ... EIOPA : Eurozone debt crisis biggest threat to insurers. Posted by Tom Scott on 27/07/2011. Comments ... Italy's Generali, Europe's third-biggest insurer, has among the biggest gross exposures to risky Eurozonesovereign debt, with holdings of 59.5 billion euros, according to analysts at Barclays Capital. An EIOPA stress test of European insurers aimed at gauging their resilience to ...
News Insurances
BETWEEN THE HEDGES: Today's Headlines
By Gary
The positive news from shipments was countered by a slowdown in stockpiling. Inventories climbed 0.4 percent in June, the smallest gain since March 2010. Inflation Drives Brazil Stocks to Bear Market. Brazilian stocks approached a bear .... Eurozone Debt Crisis Resurfaces as Markets Punish Italy and Spain for Merkel Delay on Bailout Package. Spain and Italy's borrowing costs marched back towards euro-era highs on Wednesday, as markets renewed their eurozone fears less ...
BETWEEN THE HEDGES
Milan stock market drops 3.3% (AFP) | Wall Street Financial News
By Yahoo! News: Stock Markets News
MILAN (AFP) – Milan's main stock market index, the FTSE MIB, was showing a loss of 3.61 percent in late afternoon trading on Thursday as the eurozone debt crisis continued to weigh on investor sentiment. Banking shares plunged, with Intesa Sanpaolo ... The Italian treasury was forced to pay increased rates to raise 942 million euros ($1362 million) with 10-year bonds, sold with a yield of 4.07 percent compared to 2.51 percent for the last similar operation on May 27. ...
Wall Street Financial News
Europe Feels the Heat Again as Debt Crisis Refuses to Fade
By Barbara Zigah
(eToro Blog) With the U.S. debt ceiling crisis drawing most of the worlds' focus, there remains clear evidence, however, that the Eurozone's fiscal troubles are far from over. Standard & Poor's, the rating agency which downgraded Greek ...
eToro Blog
Debt crisis eurozone countries - latest news articles, breaking ...
Latest news about debt crisis eurozone countries. ... raise the American government's debt ceiling was a more serious crisis than the eurozone's problems . ...
search.independent.co.uk/topic/debt-crisis-eurozone-countries
EU summit European debt crisis Liaoyuanzhishi close | Forex News
Under Forex News Tags: a prairie fire, EU summit European debt crisis ... on concern the euro zone leaders would not be on the summit three days later to ...
www.forex-news.co/eu-summit-european-debt-crisis-liaoyuan...
debt crisis: Osborne Tells Euro Zone Leaders 'Get a Grip' - CNBC
George Osborne has urged euro zone leaders to “get a grip” on the sovereign debt crisis at their ...Greek Bailout May Not Be Cure-All That Europe Hopes ...
www.cnbc.com/.../Osborne_Tells_Euro_Zone_Leaders_Get_a...
NewsNow: Eurozone Debt Crisis News | Every Source, Every Five ...
Read the latest Eurozone Debt Crisis headlines, all in one place, ... EU hopes stress tests boost faith in its banks Knoxville News Sentinel, Tennessee 15:33 ... Germany 'still opposed' to euro zonebond The Irish Times 15:11 ...
www.newsnow.net/h/Hot+Topics/Eurozone+Debt+Crisis
EU Leaders Must 'Get A Grip' On Debt Crisis: Osborne - Congoo
... Minister Urged Euro Zone Leaders To Get A Grip On The Debt Crisis When They Meet ... NewsHome · US · World · Business · Finance · Industry · Technology ...
www.congoo.com/news/.../Leaders-Grip-Debt-Crisis-Osborne
Eurozone faces crunch week in debt crisis - Business Intelligence ...
24th July, 2011, 17:35. NEWS ... Eurozone countries must settle their debt crisis at an emergency summit this week to stop Greece ... with stocks and the euro tumbling and observers warning thecrisis could spread across Europe. ...
www.bi-me.com/main.php?c=3&cg=4&t=1&id...

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