EUROZONE Debt Crisis News, Aug 08 2011 (2)

European Central Bank acts to prop up debt of Italy, Spain Washington Post The reluctant decision by the ECB underscored the gravity of a crisis that some fear could lead to a messy breakup of the euro zone if not quickly contained, and which has gathered fresh urgency following the downgrading of US debt by Standard & Poors. ... See all stories on this topic »

Markets turmoil and US downgrade: global reaction Telegraph.co.uk Economists Peter Boone and Simon Johnson, writing for the Peterson Institute for International Economics, agree, saying the euro crisis is not yet under control. They say Europe needs to admit that too many sovereigns and banks have too much debt:... See all stories on this topic » Telegraph.co.uk

Why S.&P.'s Ratings Are Substandard and Porous New York Times (blog) By NATE SILVER Five years ago, if you were an investor looking for guidance on which country's debt was the safest to invest in, Standard & Poor's ratings wouldn't have done much to help you navigate the headwinds of the financial crisis. ... See all stories on this topic » New York Times (blog)

UK Off 'Front Line' Of Economies in Danger: Gieve CNBC.com Over the weekend, the European Central Bank said that it will start buying up Spanish and Italian debt after both countries looked in danger of being pulled deeper into the quicksand of the euro zone debt crisis. The markets will continue to watch ... See all stories on this topic » CNBC.com

US losing its superpower status Arab News When the US is in crisis, it needs a commander-in-chief who behaves like one and who is willing to bypass a partisan Congress with executive orders. He'll be remembered as the president who folded in the face of opposition rather than risk raising his ... See all stories on this topic »

Making the case for a spectacular crash in bonds through a rising yield ... FXstreet.com One is the unfolding contagion in Europe that escalated to its highest level yet last week courtesy of the looming bailout of Italy, one of the largest economies in Europe. Investors are finally taking hold of the notion that a full blown crisis in ... See all stories on this topic »

Debt crisis resists assault by ECB and global leaders Jakarta Globe by William Ickes | August 08, 2011 World leaders scrambled Monday to ensure financial and economic stability as the European Central Bank bought eurozonebonds to stem a spiralling debt crisis, but chronic doubts endured and battered markets tumbled ... See all stories on this topic » Jakarta Globe

Debt crisis resists assault by ECB and global leaders ... By William Ickes, Agence France-Presse FRANKFURT - World leaders scrambled Monday to ensure financial and economic stability as the European Central Bank bought eurozone bonds to stem a spiralling debt crisis, but chronic doubts endured and battered markets tumbled again. ... Markets in Madrid and Milan initially bounced higher as news of the ECB's intervention got around but then stalled and gave back all their gains. Gold shot to record highs above $1700 an ounce and the euro fell to around $1.4185. ...

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