Today: EUROZONE Debt Crisis News, Aug 21, 2011

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Aug 21, 2011

EUROZONE Debt Crisis News, Aug 21, 2011

Van Rompuy Cautions Against Euro Bonds
Wall Street Journal
By TERENCE ROTH LONDON—European leaders continued to spar over proposals to reverse the region's deepening debt crisis, with a senior European Union official, Herman Van Rompuy, backing German and French opposition to common debt issuance for the 17 ...
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Report: Dutch finance minister urges Germans to hold out against eurobonds
Washington Post
Critics say they would raise costs unfairly for solid countries and could even deepen debt troubles. “Solving the current crisis will not be possible with eurobonds, and so eurobonds are not the answer,” Merkel said in an interview with ZDF television. ...
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Euro Traders Put Trust in Trichet as ECB Bails Out EU Leaders
BusinessWeek
... a currency strategist at Barclays Plc in New York. He estimates the euro will appreciate through the end of the year to $1.49. While Europe's debt crisis will take time to be resolved, ECB action will help allay market concern, he said.
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Greece Calls On Europe To Give Clear Message On Finland Deal
Wall Street Journal
Last month, European leaders agreed on a fresh EUR109 billion assistance package for Greece, as well as a series of other measures aimed at stopping the Greek debt crisis from spreading to othereuro-zone countries. Finland had previously demanded ...
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Whither Europe?
Troy Media Corporation
Today's sovereign debt crisis threatens the whole EU enterprise. What's happening? Last November the European Central Bank and International Monetary Fund had to offer Ireland an Euro85 billion rescue package, yet in April of this year, ...
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Europe struggles with path to fiscal union
Financial Times
Mr Barroso's message was clear: despite Europe's debt crisis, taken together, eurozone countries were in better fiscal health than the US, which continues to borrow at exceedingly low rates. Or to borrow from Benjamin Franklin, one of the first great ...
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Analyst Gürsel says Turkey can limit effects of another likely financial ...
Today's Zaman
Without growth it is impossible to solve the debt crisis. Then Ireland and Portugal went to the EUand IMF. Now, mostly European resources are used to deal with those countries' debts. The crisis in the eurozone is characterized by individual countries ...
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The Euro Zone's Cure Starts With Germany
New York Times
A year later, as the financial crisis widened into a general economic crisis, the Germans retreated into even safer, more familiar territory, redefining the world crisis not as financial but as fiscal — one of deficits and debt. ...
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Global economy is dangerously close to recession
Economic Times
Concerns over the wavering US economy and Eurozone debt crisis has put world markets in turmoil and most of them witnessed massive sell-offs in the past week. Excerpts from a Morgan Stanley research report dated 17 August 2011. ...
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To QE3 or Not to QE3
Business Insider
There is great uncertainty surrounding the Eurozone's ability to contain, let alone solve, its “BlackDebt” crisis, and economic indicators from the US have been very disappointing. This week's Philly Fed report was dismal. Eric Green, economist at TD ...
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Forex - EUR/USD weekly outlook: August 22 - 26
NASDAQ
The euro remained supported against the dollar as the ECB continued buying government bonds to keep the region's sovereign debt crisis from spreading, while European Union officials stepped up efforts to deal with the debt crisis. ...
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Weekly Fundamentals - Macroeconomic Turmoil Sent Gold to New All Time Highs
International Business Times
Concerns over contagion of Eurozone's sovereign crisis have spread to the US. The WSJ said that US regulators are taking a closer look at the US units of Europe's biggest amid concerns that the region's debt problems will spread to the US banking ...
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Dip in Mobile Shipments to Western Europe Causes Concern
New York Times
By KEVIN J. O'BRIEN BERLIN — The euro zone crisis has mobile users hanging on to their phones a little longer. With fewer consumers buying, the Continent's big mobile retailers have been keeping inventories low, which has brought the first-ever ...
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ICAP chief says could quit EU over transaction tax
Reuters
The French and German leaders proposed the tax on Tuesday as part of proposals to shield the euro zone from a deepening debt crisis, but Britain and the Netherlands have opposed such a measure, particularly if it does not apply globally. ...
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Concern should be more over slowing growth
Livemint
Edited excerpts: What will be the impact of the US downgrade and the euro zone debt crisis on emerging market economies (EMEs)? We don't know for certain but we can speculate a number of possibilities. At this moment, market is looking for safe haven. ...
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German Minister Rules Out Euro-Zone Bonds Under Current Government-Report
NASDAQ
Euro-zone bonds have been suggested as a solution to Europe's worsening debt crisis. They would be commonly issued on behalf of all 17 euro-zone governments, making the bloc collectively liable for the region's sovereign debt.
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Decoupling 2.0: Is it Happening?
Times of India (blog)
Investors are watching macro-economic numbers in the US for signs of a recession and the sovereigndebt crisis in Europe for signs of what could eventually become a banking crisis. There are many people who believe that a QE3 is unlikely in the US for ...
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Russians the Unhappiest in Europe, Poll Says
The Moscow Times
Russia was ranked worst among 13 countries, with only 37 percent of Russians interviewed by the Hamburg-based Foundation for Future Studies saying they are happy despite the debt crisis in theeuro zone. This compares with Denmark — ranked No. ...
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Markaz announces H1 results
AME Info
Mr. Diraar Al Ghanim - Chairman & Managing Director of Markaz said, "Markets performed well in the beginning of Q2 but market volatility continued due to US debt struggle, Europe's sovereign debt crisis and the fall of oil prices affected the region's ...
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Fears for Ireland's fragile recovery
Financial Times
He warned last week that “implementing the terms of the agreed EU-IMF programme may no longer be sufficient for Ireland to contribute positively to the stabilisation of the euro crisis.” Please don't cut articles from FT.com and redistribute by email ...
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Eurobonds Or Bust For The Eurozone?
Zawya (subscription)
By Kathleen Brooks, Research Director UK, Forex.com After raging for 18 months investors want the EU authorities to come up with a long term solution to the debt crisis. However at the recent meeting between German and French leaders the idea of...
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Zawya (subscription)
Forex - USD/CAD weekly outlook: August 22 - 26
Forex Pros
Forexpros – Last week saw the Canadian dollar decline against its US counterpart for the fourth consecutive week, as mounting concerns over the US economic outlook and lingering fears over theeuro zone's sovereign debt crisis curbed demand for ...
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Gold Weekly Fundamental Analysis For August 22-26, 2011
Daily Markets
Moreover, investors are still concerned that the European debt crisis will spread into major economies in the Euro Zone region, as Italy, Spain, and France seem to be facing fiscal difficulties, while concerns over the health of the European banking ...
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Spain sours on the EU
GlobalPost
But the real problem is an economic downturn that has left Spain with almost flat growth, a high deficit and Europe's highest jobless rate at 21 percent, says Ismael Sanz, an economist at Rey Juan Carlos university in Madrid. The ongoing debt crisis...
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GlobalPost
Greek PM rules out early election
Press TV
Greek Prime Minister George Papandreou has ruled out the possibility of an early election amid growing pressure on the government over its handling of the debt and financial crisis. "We are a democratically elected government and we will certainly ...
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Press TV
The new gold rush
Herald Scotland
In a similar way French and Italian governments have hit out at speculators targeting Continental banks for the ongoing crisis in the eurozone and recently imposed a ban on short-selling. MacDonald might not support a return to the gold standard, ...
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Herald Scotland
NYU's Nouriel 'Dr. Doom' Roubini: Social Unrest Will Spread
International Business Times
Now, in the current financial crisis, consumers, in addition to having less money to spend due to the above, are also motivated to minimize costs, to save and stockpile cash, and pay-down debt -- magnifying the effect of less money flowing back to ...
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International Business Times
Long-Term Rates Have Nowhere to Go but Up
Seeking Alpha
The 2008 financial crisis which started in the US and the current euro crisis are perfect examples of how interconnected we are. The US however is not alone in dealing with a massive debt crisis. Greece, Ireland, Portugal, Spain, Italy, Hungary, etc, ...
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Five Best Sunday Columns
The Atlantic Wire
Eurozone governments have proven unwilling, or unable, to produce a solution that persuades markets that they are on top of the problem," writes Davies with regard to the current economic crisisin Europe. There are layers of problems. ...
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Stock Market
BusinessWorld Online
Global markets, on the other hand, tumbled as fears of a new global recession intensified given higher inflation and unemployment levels in the US and signs of a worsening debt crisis in the euro zone. Blue-chip Dow Jones industrial average fell by ...
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Market chaos spells danger for us
Green Left Weekly
Governments in the United States and Europe saved the financial system in 2008-09 by taking on its debt. This merely shifted the problem — it became a sovereign (or government) debt crisis. The current phase is a scramble to determine who will pay for...
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Green Left Weekly
Is there a gold bubble now?
Economic Times
Euro crisis: Several European countries, such as Portugal, Ireland, Greece, Spain and Italy, may be forced to default in the short to medium term. Their efforts to reduce spending and increase taxes are being hampered by a faltering Eurozone economy, ...
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Germany's Merkel renews rejection of eurobonds
Atlanta Journal Constitution
By GEIR MOULSON AP BERLIN — German Chancellor Angela Merkel insisted Sunday that eurozone-wide government bonds wouldn't solve the current debt crisis, and said she sees no sign of a new recession in her own country — Europe's biggest economy. ...
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Atlanta Journal Constitution
The West is facing 'three years of hard slog', says Sir Martin Sorrell
Telegraph.co.uk
Turning to Europe, Sir Martin said that the issuing of a eurobond across the eurozonewas an idea he supported as part of a solution to the debt crisis on the continent. He also said there needed to be a larger stabilisation fund. “Euro contagion ...
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Telegraph.co.uk
Gas prices following crude oil downward
WGMD Radio
Overseas, renewed concern that the euro-zone debt crisis in Europe could infect the region's financial system affected crude oil prices. The market is also watching the situation in Libya, where rebels to the west and east of the capital fought forces ...
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It Is Not About Making Money, But Preserving Wealth
Business Insider
Facing with enormous debt burdens due to the lending spree by its banking system after the 2008 financial crisis, high inflation and real estate bubble, while at the same time having a slowing growth because of its monetary tightening, China is not any ...
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Report: Dutch minister urges Germans to hold firm against eurobonds
Winnipeg Free Press
... euro440 billion ($633 billion) eurozone rescue fund. Financially solid Germany's government has led opposition to so-called eurobonds, viewed by some as a logical solution to the debt crisis that has pushed up troubled countries' borrowing costs. ...
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Sarkozy and Hu to discuss market turbulence
Arab News
However, Martin Blessing, Chief Executive of Germany's second-largest lender Commerzbank said a European finance minister with sway over member states' taxes and budget was needed to lead theeuro zone out of its debt crisis. ...
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INTERNATIONAL ECONOMIC CHRONICLE
Radio Srbija (blog)
Since 2001 to this day a modern banking system has been established, and the state debt is on the sustainable level. Over the past decade, Serbia has had three arrangements with the IMF, it has endured the crisis successfully and the economic ...
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Global markets slide
Sunshine Coast Daily
Also speaking at Jackson Hole will be European Central Bank president Jean-Claude Trichet, whose words are likely to be scrutinised for his assessment of the eurozone's deepening debt crisis. Fears that the debt crisis will engulf the European Union's ...
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Bonjour Paris - France News: France and EU Debt Crisis, Sarkozy ...
BonjourParis France News (English): France and EU debt crisis; Sarkozy and Merkel meet; US credit rating slips. Europe reactions. See site for France news and complete travel info since 1995. ...But the US debt is not the only reason stock markets are plunging. Indeed the Euro zone has been suffering from a lack of stability due to debt crises in Greece, Spain and worries in Italy, Portugal and Ireland as well. Even recently there were rumors that French bank exposures ...
BonjourParis.com
NewsDaily: Germany against euro bonds
By Annika Breidthardt
Wolfgang Schaeuble said the euro zone could only issue joint debt if it had common fiscal policy or risk creating inflation and destabilizing the currency bloc. Pressure on Germany and France to take radical action on the debt crisis ...
NewsDaily: Top Headlines
Merkozy's baby steps won't save Europe — Clearing and Settlement
By RSS Feed
Following their much anticipated economic summit in Paris on Tuesday, French President Nicolas Sarkozy and German Chancellor Angela Merkel announced new initiatives to address the escalatingeuro zone debt crisis. ... Sound like good news? The markets didn't think so. The SP was down by 1.9 percent Tuesday afternoon, before recovering somewhat. The euro slid as well. “It's hugely disappointing and what they say is not going to work,” Marchel Alexandrovich, an economist at ...
Clearing and Settlement — Clearing...
Merkel underlines 'no' to eurobonds, for now < Dutch news ...
French President Nicolas Sarkozy and Merkel said at a summit in Paris Tuesday that eurobondswere not the answer "today" to the eurozone debt crisis. But they appeared to leave wiggle room for a change in policy if circumstances in the ...
Expatica - Dutch Local Headlines
Germany's Merkel renews rejection of eurobonds
KLAS-TV Channel 8 News NOW Las Vegas. Local News, Weather, Traffic, Sports, Entertainment for Las Vegas. ... BERLIN (AP) - German Chancellor Angela Merkel insisted Sunday that eurozone-wide government bonds wouldn't solve the current debt crisis, and said she sees no sign of a new recession in her own country - Europe's biggest economy. Financially solid Germany's government has led opposition to "eurobonds," viewed by some as a logical solution to the debt crisis that ...
Las Vegas News from 8NewsNow.com
Markets Exhausted by Euro Zone Debt Crisis - CNBC.com
"The markets are exhausted by the Euro zone debt crisis," Nick Beecroft, ... week's top businessnews and investment advice, including how to trade Europe, ...
classic.cnbc.com/id/15840232?video=3000038667&amp;play...
Vibes Nevis | Euro down as EU debt crisis summit disappoints
Euro down as EU debt crisis summit disappoints ... Apart from the eurozone summit, US investors were also disappointed by the news that Germany saw only 0.1 ...
www.vibesnevis.com/news/newsdetails.cfm/38764
Merkel, Sarkozy take on debt crisis amid slowdown | Local news ...
Economic growth in the 17 countries that use the euro sagged to a lackluster ... "The eurozone debt and banking crisis has yet to be properly resolved, ...
www.wenatcheeworld.com/.../merkel-sarkozy-take-on-debt-cri...
Sarkozy, Merkel to discuss eurozone and debt crisis in Paris on ...
Sarkozy, Merkel to discuss eurozone and debt crisis in Paris on Tuesday. Sarkozy s office said the two leaders would meet in Paris, hold a news conference ... Angela Merkel will discuss next Tuesday how to make the euro zone work more ... financial markets over Europe's ability to solve its sovereign debt crisis. ...
www.buenosairesherald.com/.../sarkozy-merkel-to-discuss-eur...

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