Today: EUROZONE Debt Crisis News, Aug 26, 2011

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Aug 26, 2011

EUROZONE Debt Crisis News, Aug 26, 2011


Analysis: Europe risks crisis steps delay, new market attacks
Reuters
But the bloc risks fresh market attacks, perhaps as soon as in the next few weeks, as it tries to implement promised steps to address its debt crisis. As euro zone officials struggle to finalize details of an agreement struck by their leaders at a July ...
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Nobel economists say euro zone will survive
Reuters
By Eva Kuehnen LINDAU, Germany, Aug 26 (Reuters) - The finest economic minds in the world believe the euro zone will survive its crippling debt crisis, but think that if the bloc splinters it would make more sense for powerhouse Germany and not ...
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Merkel attacked over eurozone crisis stance by ex-mentor Kohl
Irish Independent
By Donal O'Donovan and Emmet Oliver German Chancellor Angela Merkel was engulfed in further controversy over the eurozone debt crisis last night as political allies attacked her position, including one of her predecessors Helmut Kohl. ...
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Debt crisis: as it happened - August 25, 2011
Telegraph.co.uk
Check out our finance page for the latest on the debt crisis. 23.09 The US Treasury has revealed it has recovered more than $886m by June 30 from the Troubled Asset Relief Program, through the sale of warrants it had taken in rescued banks. ...
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Telegraph.co.uk
Lessons from the eurozone debt crisis
Money Management
Many of the solutions to the eurozone debt crisis are thus, in theory, political. The second lesson is that countries that use a stateless currency such as the euro have limited ability to respond to economic troubles. They have no independent monetary ...
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Last ditch effort for the euro zone?
FXstreet.com
Fears of tightening debt crisis on both sides of the Atlantic have led to weeks of bleeding among the stocks markets. Over the last 24 hours, several countries decided to extend the ban on short selling including Spain, Italy, France, ...
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European stocks fall ahead of Bernanke speech
Reuters
Both banks are down about 40 percent this year as the euro zone debt crisis threatens to engulf Italy. RBS cautioned: "We see the prospects for economic growth in Italy (and Europe) as materially reduced and, regardless of the final policy solution to ...
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Germany ETF Underperformance Suggests Trouble for Euro
ETF Trends
In the debt crisis, everyone seems to focus on the possibility of Greece getting kicked out of theEuropean Union, or rising bond yields in Spain, Italy, Portugal and others on the periphery. I find very few who are entertaining the possibility that ...
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CORRECTED-UPDATE 2-Spain govt, PP agree to deficit limit in constitution
Reuters
The move follows calls by Germany and France for countries immersed in the euro zone's debt crisis to set obligatory limits on deficits to regain the trust of investors. Spain's deficit is at the heart of concerns it could need a bail-out like Greece. ...
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FOREX-Dollar gives up gains post-Bernanke, Swissie slides
Reuters
[ID:nWEA2169] Worries about the US economy and the euro zone debt crisis have boosted demand for the safe-haven franc in recent months, driving it to record highs. But rapid appreciation has hurt Swiss exports and tourism, putting pressure on the ...
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Swedish stocks hit by global growth fears
MarketWatch
By Polya Lesova, MarketWatch STOCKHOLM (MarketWatch) — Sweden's stock market has slumped this year as export-oriented companies have been hurt by worries about the euro-zone debt crisis and slowing global growth. The Swedish economy is expected to ...
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MarketWatch
UPDATE 1-Italy austerity plan revisions may need EU ok
Reuters
As Italy got drawn into the euro zone debt crisis in recent weeks, the ECB demanded the country bring forward its target to balance the budget to 2013 as a condition for keeping its debt yields in check by buying Italian bonds. ...
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Greek Refugees Feast on Bulgarian Tax Savings
Bloomberg
Photographer: Dimitar Dilkoff/AFP/Getty Images Bulgaria is the European Union's poorest country. For Iosif Komninakidis, it is a haven from the debt crisis in his native Greece that has cost his jeans factory 30 percent of its business. ...
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Europe Needs a Third of Banks to Disappear: Analyst
CNBC.com
Despite having more funds to buffer themselves against any trouble, Silva believes a major escalation of the sovereign debt crisis in Europe would see this cash disappear very quickly. “We only have a dozen banks in Europe that you can truly consider ...
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CNBC.com
MONEY MARKETS-Stabilise but bank credit risk reflects strains
Reuters
Athens warned it may opt out of a crucial debt swap. . Although some risk indicators are showing signs of stabilising well below levels seen during the 2008 financial crisis after widening sharply in recent weeks, the cost of insuring against bank ...
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Greece Government Links Debt-Exchange to Reaching 90% Participation Level
Bloomberg
... and contributed to debt crisis contagion to Spain and Italy. The swap, under which investors would exchange debt at a discount for new Greek bonds, was due to contribute about a third of the 159 billion-euro package agreed to at the July meeting. ...
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Regions fighting climate change
EurActiv
Some of the finest economic gurus in the world believe the euro zone will survive its crippling debt crisis. But if the bloc were to splinter they believe it would make more sense for powerhouse Germany and not stricken Greece to break away. ...
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Macroeconomic indicators - German slowdown grips euro zone
Steel Prices China
Reuters reported that the euro zone economy slowed sharply in the second quarter, hobbled by sluggish growth in Germany and stagnation in France, raising fears of a longer term dip that could derail efforts to resolve the bloc's debt crisis. ...
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Humorist That Held Up a Mirror to Germany
Wall Street Journal (blog)
By Nicky Redl A yodelling diploma won't solve the European debt crisis, but humor can go a long way to get people through bad times—at least that's what German social media users seemed to feel this week. Twitter and Facebook spheres have been buzzing ...
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France, Germany vow to support euro
Business Spectator
European policymakers have been battling to contain a debt crisis that poses a threat to the region's economic recovery. Chinese President Hu Jintao told French President Nicolas Sarkozy on Thursday that China hopes Europe will take steps to protect ...
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No U-Turns Ahead for the Pound
Wall Street Journal (blog)
Over in the euro zone, talk that the European Central Bank will have to reverse the rate increase it announced in July is starting to spread as economic data from core countries such as Germany shows that growth there is deteriorating rapidly too. ...
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Stock Futures Higher ahead of Bernanke. Stocks to Watch: AAPL, BAC, CLWR, FSLR ...
TradersHuddle.com
In Europe, equity markets were weak ahead of the Fed and as euro zone debt crisis jitters dampened sentiment. There are reports that the ECB tapped into the Federal Reserve's dollar swap line, possibly signaling funding stress in EU banks. ...
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Schäuble: Euro needs joint budgetary policy
The Local.de
"One day we will have to adopt a common financial policy in Europe, after having a common monetary policy," Schäuble told a conference in Frankfurt. He spoke against a background of how to resolve the eurozone's chronic sovereign debt crisis, ...
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The Local.de
News Analysis: European economic outlook still unclear
Xinhua
... if the euro is to survive. Others have deemed the meeting as inconsequential as it did not produce an agreement on creating Eurobonds. Is the Eurobond, the sharing of debt among the 17 eurozonecountries, the only answer to the current debt crisis? ...
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GLOBAL MARKETS: European Stocks Close Lower
Wall Street Journal
Euro-zone economic data added to the overall gloom. Spanish second-quarter GDP growth was confirmed at 0.2% quarter-on-quarter. Meanwhile, the sovereign-debt crisis surrounding the periphery of the euro zone continued to rumble on, with Greece saying ...
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TEXT-Mexico central bank flags chance of looser policy
Reuters
On the other hand, the sovereign debt crisis escalated in Europe, given the difficulties Italy and Spain have faced refinancing, adding to the problems of Greece, Portugal and Ireland. In these circumstances, the heads of state of the the euro zone ...
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The search for a new global monetary system
Globe and Mail
Mundell says the eventual rebound in the euro greatly contributed to the Europeandebt crisis. How would this fixed-exchange rate regime work? Prof. Mundell said US and European authorities should choose an appropriate euro-dollar rate, say $1.30, ...
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Globe and Mail
Hope in Greece
Tehran Times
The crisis grew into a political one when the truth about government statistics was unveiled exposing the real country's debt and deficits exceeding limits set by the eurozone. Greece's gigantic debt of 300 billion euro, a lot bigger than the country's ...
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DGAP-IRE: IKB Deutsche Industriebank AG: Interim announcement as of 30 June 2011
TREASY News
Business development As in the same period of the previous year, the first quarter of the 2011/12 financial year was dominated by the government debt crisis in Europe. In the eurozone, there was uncertainly due to the potential for further rescue ...
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Crises in the US, eurozone will not leave SA unscathed
Creamer Media's Engineering News
Suffice to say the leaders of the countries which share the euro as their currency have continually failed to meet the rapidly mutating challenges posed by the current crisis. Among independent experts, analysts and commentators there appears to be ...
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Why I am Going to Worry about Italy on my Summer Vacation
Business Insider
Italy is the largest piece of counter-evidence of the German-ECB narrative that the lack of fiscal discipline is at the center of the crisis. Italy's actual budget deficit in 2010 was 4.6% of GDP. The deficit for the euro zone as a whole was 6%. ...
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Stocks Snapped Rally ahead of Bernanke's Speech (AAPL, AMAT, BAC, C, FSLR, JPM ...
TradersHuddle.com
In Europe, equity markets closed lower after the weak weekly jobless claims in the US and after renewed jitters on the euro zone debt crisis, specifically with the Greek bailout, sparked a move away from equities and back to safe haven assets. ...
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Forex - Emerging Europe Closing Summary and Highlights: 22-26 Aug
FXMarketAlerts.com
Finance Minister Kalousek said the government may need to cut spending in 2012 to meet its budget deficit target, give that the eurozone debt crisis will likely lead to slower economic growth.EUR/CZK started out relatively stable amidst the global ...
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State Pension: Big Drop In Bank Shares/ 26.8.2011• Samriddhi Dastidar• Posted ...
PensionCalculator.org
Due to fears that the debt crisis in Europe will spread to the banking system, bank shares across the world fell yesterday. Shareholders were frightened by the news that a lender in the euro zonehad to ask the European Central Bank for emergency money ...
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Greek Myths: The Birth of a Crisis
TV Newsroom
The half-hour programme, presented by Sky's business presenter Jeff Randall, will look at how an economy was broken by debt and delusion that has prompted a crisis that threatens to sink theEU's single currency. He discovers how a widespread ...
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Greece forced to tap emergency fund
Telegraph.co.uk
There are particular concerns that the political will to solve the crisis is waning, particularly in Germany. Athens' activation of the ELA will raise concerns that Greece will simply shift debt to Brussels. The ELA was designed under European rules to ...
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Telegraph.co.uk
Balanced budgets: doomed to failure
Globe and Mail
And the country's situation would probably have been worse with a smaller mid-crisisdeficit. Excessive government borrowing is undesirable, but fiscal deficits cannot really be separated from the other contributors to the world's dangerously high ...
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Globe and Mail
Slump threatens French deficit drive
Independent Online (blog)
However, polls suggest that the public is losing its indifference towards state finances as Europe's debt crisis and the downgrade of the United States' credit rating turned market attention on France's strained finances this month. “Debt has become a ...
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Independent Online (blog)
The EU and the Arab Spring
Sofia Echo
Further, the EU itself, and in particular the euro zone, had matters other than the upheavals in the Middle East and North Africa on its mind. Much closer to home was the sovereign debt crisis, and in the public mind, the troubles in that amorphous ...
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Sofia Echo
Dollar firms across the board, all eyes on Fed
Reuters
With the euro zone debt crisis back in full swing and two-year Greek yields up more than 200 basis points at record highs, investors say the euro may drop after Bernanke's speech as the market's focus will likely move back to Europe. ...
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Reuters
Swiss Franc Trading Higher as USD Dips
Forexyard
Debt concerns remain a priority in the euro zone's periphery, and the uncertainty in Europe is generating significant bearish shifts as European leaders struggle to contain the spreading crisis. Such moves are acting solely as a fuel to the fire lit ...
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Europe's Small Steps and Giant Leaps
By Henning Meyer
Until this summer, the sovereign-debt crisis was confined to three small countries – Greece, Ireland and Portugal. Spain had succeeded in limiting the spread between its interest rates and those of Germany to about two percentage points. ...
Social Europe Journal» Columns
Penny Hill Press » Blog Archive » Greece's Debt Crisis: Overview ...
By admin
... of Greece's Debt Crisis. In the 2000s, Greece had abundant access to cheap capital, fueled by flush capital markets and increased investor confidence after adopting the euro in 2001. ...Additionally, its crisis set precedents for responding to crises in other Eurozone countries; highlighted concerns about the health of the European financial sector; created new financial liabilities for other Eurozone countries struggling debt; and sparked reforms to EU economic governance. It has also ...
Penny Hill Press
Stock Market and Investing: Latest Fixes for Euro Crisis: Not What ...
The latest proposed fixes for the euro crisis disappointed markets and sent bank stocks ... Friday Look Ahead: Markets Watching for More Bad News From Europe .... on debt crisis on August 16, 2011 at the Elysee presidential palace in Paris. ... a closer fiscal governance bond between the 17 members of the euro zone. ...
www.cnbc.com/.../Latest_Solution_for_Euro_Crisis_Not_Wha...
Euro Zone Debt Crisis - C-SPAN Video Library
... a news conference following their meeting to address the European debt crisis ...a Europe-wide financial transaction tax, and a ...
www.c-spanvideo.org/program/301073-1
Fox Business - Latest News - China Paper Warns of Impact From ...
The "Black Death" of debt crisis across the euro zone will hurt China by ... but it suggests theeuro zone's successive crises have stirred anxiety and debate in ... He also played down the likelihood of Europe's crisis spinning out of control. ...
m.foxbusiness.com/quickPage.html?page=32811...1
What are eurobonds? Can they end the euro crisis? | News ...
Commenting on the summit yesterday, Channel 4 News economics editor ... Put another way, theeurozone's debt crisis would have to get worse before the ...
www.thefirstpost.co.uk/83200,news-comment,news-politics,w...
Few Answers at Euro Zone Debt Crisis Meeting Video – 5min.com
Few Answers at Euro Zone Debt Crisis Meeting - French president Nicolas Sarkozy and German chancellor Angela Merkel met to address the ...
www.5min.com/.../Few-Answers-at-Euro-Zone-Debt-Crisis-M...

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