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Aug 3, 2011

EUROZONE Debt Crisis News, Aug 03, 2011

Analysis - Worsening euro crisis may force bigger rescue fund
Reuters
By John O'Donnell and Luke Baker BRUSSELS (Reuters) - A worsening euro zone debt crisis may ultimately force the bloc to expand its 440 billion euro (384.2 billion pound) bailout fund, despite political opposition in key contributing countries, ...
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Eurozone crisis reignites as investors lose faith in rescue package
The Guardian
Photograph: AGF/Rex Features The eurozone debt crisis threatened to erupt again on Tuesday as Italy and Spain's borrowing costs hit record highs, helping to drive Britain's own borrowing costs down to a record low. The euro also lost ground against...
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The Guardian
Crisis forces Berlusconi to break silence
Financial Times
By Guy Dinmore in Rome With Italy's borrowing costs soaring to new euro-era highs, Silvio Berlusconi has been forced to break a month of near-total silence to defend his economic policies and prevent Europe's sovereign debt crisis from transforming ...
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Mauritius Rupee Gains for Second Day Versus Euro on EU Debt-Crisis Concern
Bloomberg
By Robert Brand - Tue Aug 02 11:38:42 GMT 2011 Mauritius's rupee advanced for a second day versus the euro amid investor concern that slowing economic growth will worsen the sovereign-debt crisis in the eurozone, the island nation's biggest trading ...
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World markets slide on eurozone contagion fears
Bangkok Post
"If Europe gets its act together soon, the overall damage to confidence from the US and European debt crises could remain modest... But if the ECB waits much longer before it steps in to contain the eurozone debt crisis, the damage to confidence and...
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Bangkok Post
Van Rompuy may get top euro zone role -sources
Reuters
Two senior EU sources said a central issue was trying to put an end to the cacophony among multiple policymakers which has undermined markets' confidence in Europe's ability to surmount its sovereign debt crisis over the last 18 months. ...
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Europe shares fall 1.8 pct to 11-month closing low
Reuters
The STOXX Europe 600 Banking Index fell 2.5 percent, hitting a 26-month low, on renewed concern about euro zone peripheral debt levels. The sector has lost nearly 16 percent this year, on worries about contagion in the euro zone debt crisis. ...
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New Bailout for Greece Won't Solve Underlying Debt Crisis
Socialist Alternative
When the eurozone leaders return from their holidays, “they will still have the euro – and they will still have the crisis”. Tony Barber (FT, 22 July): “Of course, this will not end Europe's sovereign debtand banking crises. ...
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Telefonica: A Defensive Stock to Play the European Debt Crisis
Seeking Alpha
The European debt crisis has been repeatedly dominating world headlines for months, if not longer. Although the recent debates over the US debt ceiling have occupied media recently, the debt troubles in Europe remain far from resolved. ...
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US Debt Ceiling Crisis going down to the Wire
FXstreet.com
The Euro was more volatile than most with its own debt crisis refusing to disappear and Spain put on negative watch and Cyprus downgrades throughout the week. The risk aversion led to EUR/JPY and EUR/CHF selling and pulled the major from 1.45 highs. ...
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TSX may open lower on global growth concerns
Reuters
Aug 2 (Reuters) - Toronto's main stock index looked set to open lower on Tuesday, with mining shares likely to drop on worries about the global economic recovery coupled with concerns over theeuro zone debt crisis. * Canadian equity futures <0#SXF:> ...
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Eurozone debt crisis won't affect Malaysian banks' trade financing business
Malaysia Star
By DALJIT DHESI PETALING JAYA: The eurozone debt crisis is not expected to impact the extension of trade financing by Malaysian banks to European exporters and importers as banks would carry out proper “financial health checks” before offering these ...
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Malaysia Star
Analysis: West's mid-life crisis points to power shift east
Reuters
In Europe, economists warn of a "lost generation" as youth unemployment soars as high as 40 percent in some countries. The average public debt of the 27-nationEuropean Union stands 20 percentage points higher than it did before the financialcrisis ...
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Reuters
Cash-strapped Cyprus could be next euro zone country in need of bailout
Vancouver Sun
Since the euro zone's sovereign debt crisis erupted last year, the EU and the International Monetary Fund have announced multi-year bailouts of Greece, Ireland and Portugal totalling 382 billion euros ($521 billion). A rescue of Cyprus, which accounts ...
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Rupee likely to see heightened volatility
Daily News & Analysis
Worries that European plans to bail out Greece would not contain the eurozone debt sovereigncrisis also undermined confidence. Weaker-than-expected second-quarter US GDP growth figures also knocked investor sentiment. The Swiss franc hit a series of ...
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German Economy Starts to Cool Down
Spiegel Online
Fears are also growing about the US outlook and the simmering euro debt crisis. Germany staged an impressive recovery from the 2008/2009 global economic crisis, but there are increasing signs that the boom is now coming to an end. ...
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Spiegel Online
Europe's Youth Face Scarcity of Jobs
Wall Street Journal
By RIVA FROYMOVICH The high rates of youth unemployment that fed protests from Spain across the euro zone this year are likely to worsen before they improve, new data released Monday suggest, given the region's debt crisis and budget cutbacks. ...
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TREASURIES-Bonds rally as weak economy spurs safety bid
Reuters
Italy's stock index .FTMIB fell to its lowest in more than 27 months, dragged down by banks with a heavy exposure to Italian debt. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Euro zone crisisin graphics r.reuters.com/hyb65p ...
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FOREX: Franc Hits Record High on Global Growth Fears, Euro Debt Crisis
DailyFX
... the Euro Zone, where a sharp pickup in periphery sovereign credit-default swap (CDS) rates points to growing fears of debt crisis contagion. As we discussed last week, the markets appear resigned to stress-test the lofty promises of EU policymakers ...
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Gold hits ninth record high on gloomy US outlook
Firstpost
Risk appetite might return now there is agreement on the country's borrowing limit, but the gloomy economic outlook in the world's largest economy combined with an ongoingeuro zone debt crisis could depress such sentiment, traders and analysts said. ...
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Firstpost
Markets ease only for a while after US debt deal
Budapest Business Journal
Just most recently, The Financial Times reported on an analysis by Citigroup Global Markets which predicts a possibility of a spill-over of the eurozone crisis to emerging Europe through trade channels and banking sectors. The so-called Contagion Index ...
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CANADA STOCKS-TSX slips on slugglish economic data
Reuters
By Claire Sibonney TORONTO, Aug 2 (Reuters) - Toronto's main stock index slid on Tuesday morning as worries over the global economic recovery and euro zone debt crisis offset some relief about the long-awaited US budget deal. ...
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European Debt Crisis: End of an Era?
NASDAQ
Europe finds itself in the “worst of all worlds,” writes Ambrose Evans-Pritchard of The Telegraph. Unlike the US, where a political battle over the debt ceiling is merely a distraction from positive economic indicators, Europe is mired in a complex ...
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High-Yield Market May Close to Some Borrowers in 2nd Half
Bloomberg
By Charles Mead - Tue Aug 02 13:51:35 GMT 2011 Some companies may be shut out of Europe'shigh-yield bond market in the second half as investors demand higher coupons amid concerns the region's debt crisis will worsen, according to Fitch Ratings. ...
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Analysis: Spain elections a stumbling block for reform drive
Reuters
Monday's survey of purchasing managers in the sector showed output contracting sharply and an EU study before the debt crisis suggested Spain needed double-digit falls in wage levels to compete on an even playing field with euro zone peers. ...
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Reuters
European Stocks Called Lower, Yen Intervention in Focus
CNBC.com
London's FTSE Asian stocks are lower as investors focus on some we manufacturing data from the US and renewed fears over the debt crisis and its impact on Italy, the euro zone's third largest economy. The yen is lower following a report that the Bank ...
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7 Deadly Stories: A world awash in debt
GlobalPost
Shih also notes that by keeping growth strong, the country can avert a crisis. These seemingly alarming debt levels raise the question, why now? Why is it that Europe, the United States, Japan and even China all face substantial debt challenges at this ...
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European equities are officially in a correction
FT Adviser
The falls have also come as Italy, the third-largest eurozone economy, has fallen further into theeurozone debt crisis this week - its government bond yields today hit their highest level in the 11-year history of the single euro currency. ...
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UPDATE 2-Metro says risks to profit target have grown
Reuters
By Victoria Bryan DUESSELDORF, Aug 2 (Reuters) - Metro , the world's No.4 retailer, said it was getting harder to meet its full-year profit target as the global economic recovery falters and shoppers fret about the European debt crisis and higher food ...
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CYPRUS ADDS TO EURO CRISIS
Express.co.uk
A rescue of Cyprus is a reminder of how the euro debt contagion can spread. By Daily Express reporter THE eurozone crisis was deepening last night after Cyprus looked set to became the fourth country to call for an emergency bailout. ...
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UK Research Team, IG Group
IG Markets CFD Trading
Resurgent risk aversion pushed markets lower again this afternoon, as fears about global growth and a renewed eurozone crisis took precedence over the US debt ceiling crisis in the minds of investors. Safe havens like the Swiss franc, Japanese yen and ...
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Euro mixed after US data
FXstreet.com
It is a timely warning that although the Greek debt crisis may have abated for now, the Eurozoneisn't free from problems and we could see worse in the months ahead. The Sterling - Euro exchange rate is easing towards the major resistance at €1.15. ...
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BNP Paribas Profit Gains 1.1% as Consumer Banking Cushions Greek Debt Loss
Bloomberg
Earnings at the investment-bank divisions at UBS AG, the biggest Swiss lender, and Credit Suisse Group AG, the second largest, both tumbled 71 percent in the period as Europe's sovereign-debt crisis reduced revenue. Prot said the bank has no plans for ...
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Dow Tumbles 100 Ahead of Senate Vote
CNBC.com
Gold rallied above $1640 an ounce—its ninth record high this year amid growing fears about the euro zone debt crisis in addition to the gloomy outlook for the US economy. Wal-Mart Meanwhile, GM On the earnings front, Pfizer Meanwhile, Archer Daniels ...
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Europe shaky but UAE banks upbeat
The National
Shockwaves from Europe's sovereign debt crisis have been reverberating through the continent's banking system. A rash of worse than expected second-quarter earnings figures have illustrated the depth of the problem. UBS was among the hardest hit, ...
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The National
Analysis: Debt deal unlikely to boost U.S. investor confidence
Reuters
It isn't as if China and Europe are providing much comfort. China's manufacturing sector slowed further in July as Beijing cooled an overheated economy and demand for exports weakened amid Europe's debt crisis and sluggish US growth, two surveys showed ...
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Reuters
Economic growth fears hit global markets
Monsters and Critics.com
Market pressure on Spain and Italy have increased recently in the wake of the debt crisis that has engulfed parts of the eurozone. In particular, Spain is seen as one of the weakest economies in the currency bloc. This has lead to concerns that the ...
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Sterling hits 2-mth high vs weak euro, slips vs dollar
Reuters UK
Such a move would take the euro to its weakest since March. The euro trimmed losses, but stayed on the backfoot on renewed fears over the euro zone's debt burden as focus shifted away from the US debt crisis after lawmakers there clinched a last-minute ...
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NewsDaily: Italy under fire in widening euro debt crisis
By Giselda Vagnoni and James Mackenzie
Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the euro area danger zone and prompting Italian authorities to call emergency talks. ... MILAN/LONDON, July 28, 2011 ( Reuters) — 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
Eurozone debt crisis won't affect Malaysian banks' trade financing ...
By MBN
Eurozone debt crisis won't affect Malaysian banks' trade financing business. Small exposure to EU. The eurozone debt crisis is not expected to impact the extension of trade financing by Malaysian banks to European exporters and ...
Malaysia Business News
Spanish, Italian markets slammed by investor fears - seattlepi.com
... (AP) — Investors battered Italian and Spanish financial markets on Tuesday, with the countries' borrowing rates hitting euro-era highs on fears that a global economic slowdown will hurt their chances of dodging Europe's debt crisis.
Business Heds Index
Analysis: Worsening euro crisis may force bigger rescue fund ...
By Yahoo! News: Business - European Economy
A pedestrian walks by a huge Euro logo in front of the European Central Bank ( Reuters - A worsening euro zone debt crisis may ultimately force the bloc to expand its 440 billion euro ($625 billion) bailout fund, despite political opposition in key contributing countries, some officials and analysts say. Short URL: http://www.wallst.net/?p=207286. Posted by Yahoo! News: Business - European Economy . You can follow any responses to this entry through the RSS 2.0. ...
Wall Street Financial News
Read This Post - Minyanville
By Benzinga.com
The euro currently trades around ¥109.91, or 0.13% below its previous close. Tuesday is expected to be a quiet day without major data about the health of the eurozone economy. Therefore, all eyes are focused on the debt problems in the eurozone periphery. ... Traders who believe that the eurozonehas shown an impressive determination in fighting the debt crisis, and will ultimately find a solution to its debt woes, might want to consider the following trades: ...
Minyanville | Stock Market |...
State Debt: Economic Weiser expected return of the euro crisis ...
By B.B
by nextconf national debt: Weiser expected economic return of the Euro-crisis The Freiburg economy Lars field still sees no end to the turmoil in. ... The euro-zone countries and the European Commission want to promote a plan for reconstruction growth and investment. The EU Commission had already commissioned before the summit, a group of experts to help the Greek authorities to provide such monies from EU coffers to support underdeveloped regions to apply. PRIVATE DEBT ...
Economics Newspaper
Spanish, Italian markets slammed by investor fears | The ...
By The Associated Press
Investors dealt Italy and Spain a battering Tuesday as the yields on their bonds struck euro-era highs amid mounting fears that an economic slowdown will hurt their chances of dodging Europe'sspreading debt crisis.
Examiner AP RSS
Gold Hits Record As Misery Mounts Over Debt : Kevin Trudeau Show
Gold rallied to its ninth record high this year on Tuesday, as growing fears about the spread of the European debt crisis and the increasingly gloomy outlook for the U.S. economy fed a broad investor push into perceived safe-haven assets. ... Stocks and bonds of the euro zone's more fragile members came under fire on Tuesday, pushing yields on Spanish and Italian debt to 14-year highs, while Italian authorities held emergency talks and Spain's economy ministry kept in ...
Kevin Trudeau Show
Italy calls emergency meeting to deal with European debt crisis ...
By Edward Harrison
The Telegraph is reporting that the euro zone sovereign debt crisis has reached such a critical flash point that Italy has called an emergency meeting. ... Concerns that Spain and Italy will be the next victims of the eurozone crisis drove benchmark bond yields to all-time highs and unsettled stock markets. Yields on 10-year Spanish government bonds rose 25 basis points to 6.426pc, while Italy's 10-year bonds also hit highs of 6.219pc -edging closer to the 7pc levels that ...
Credit Writedowns
'Eurozone debt crisis summit: as it happened ' - news trends: TopInUK
Read news topics on this organized by TopInUK. ... Topic: Eurozone crisis: Terms explained ...Eurozone debt crisis summit: as it happened telegraph ... Eurozone leaders draw up radical plan to safeguard euro ...
www.topinuk.com/topic/eurozone-crisis-terms-explained
Germany, France Reach Deal on Euro Debt Crisis
Germany, France Reach Deal on Euro Debt Crisis. ... FREE NEWS ALERTS ... The leaders of theeurozone's biggest economies held last-ditch talks for seven ...
www.newsmaxworld.com/global_talk/EU.../399249.html
EUROPE / ECONOMY: Eurozone debt crisis: Jose Manuel Barroso issues ...
Programme: News At Ten. Reporter: Alex Forrest. Reference: T20071107 ... EUROPE / ECONOMY:Eurozone debt crisis: Jose Manuel Barroso issues euro warning ...
www.itnsource.com/shotlist/ITN/2011/07/.../T20071107/?v...

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