Today: IRELAND, Portugal, Spain, Italy, Greece News, Aug 12, 2011

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Aug 12, 2011

IRELAND, Portugal, Spain, Italy, Greece News, Aug 12, 2011


Some $4 trillion wiped off world stocks in 2 weeks
Reuters
MIWD00000PUS - about one seventh of its value - is almost equivalent to the size of combined economies of Italy, Spain, Portugal, Ireland and Greece. The sell-off this week knocked nearly $1.6 trillion off the market capitalization of the global ...
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Reuters
PIIGS: CNBC Explains
CNBC.com
Portugal, Italy, Ireland, Greece, and Spain make up the letters. All are part of the European Union. The use of the acronym goes back to 1979 and describes countries in the EU considered to have troubled economies. However, there's no known inventor of ...
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Markets amok as Sword of Damocles swings over France
FRANCE 24
Erratic markets have pushed the country's borrowing costs close to the 7% mark that heralded bailouts for Greece, Portugal and Ireland. Italy's ballooning public debt is larger than that of any other eurozone member barring Greece. ...
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FRANCE 24
Why America will always matter
gulfnews.com
Though Europe's sovereign debt problems are much more severe, with Greece, Ireland, Portugal,Italy and Spain making headlines, the US debt crisis is causing unprecedented turmoil. It's not only because the US is the world's largest economy with links ...
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Averting Another Global Recession
Carnegie Endowment for International Peace
Huge economies—Italy and Spain in particular—are now in the eye of the storm and it is entirely possible that there will be a conflagration in Europe. It would resemble what happened in Greece and Portugal, but ten times bigger. ...
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Carnegie Endowment for International Peace
Debt: The Forgiveness Fix
msnbc.com
And it's true in Europe, where creditor nations and banks are dragging their heels on writing down the sovereign debt of Greece, Ireland, and Portugal. Why does this matter? Because debt—public and private, foreign and domestic—is the No. ...
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Some hopeful signs in otherwise grim markets
Los Angeles Times
The drop in yields at least relieves some of the fear that Spain and Italy could quickly go the way ofGreece, Ireland and Portugal in needing European Union bailouts. Yields also fell on French government bonds, despite rumors that France could lose ...
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Neptune European Opportunities - fund update
Hargreaves Lansdown
There is mounting concern that the debt crisis in the euro zone could spread beyond the peripheral nations of Greece, Portugal and Ireland to the much larger economies of Spain and Italy. Markets as a whole have been affected and financial stocks in ...
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Oil Prices Sag on Weak European Outlook
TheStreet.com
"Focus has now shifted from Ireland and Greece and Portugal and Italy and Spainto now rest on France, and the fear that the current crisis is materially hurting the second largest country in the Euro," said Summit Energy analyst Matt Smith. ...
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TheStreet.com
Wednesday's International Soccer Exhibition Results: Italy Beats Spain 2-1
Bloomberg
... 1-2 Switzerland Poland 1-0 Georgia Malta 2-1 Central African Republic Slovenia 0-0 Belgium Italy2-1 Spain Ukraine 0-1 Sweden Portugal 5-0 Luxembourg Turkey 3-0 Estonia Bolivia 1-3 Panama Costa Rica 0-2 Ecuador US 1-1 Mexico Honduras 2-0 Venezuela.
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European market wrap
ABC Online
The point is: is if they end up bailing out the Eurozone members, if they end up bailing out Italy,Greece, Portugal Spain and Ireland, then France and Germany are going to have massive fiscal deficits. But the point is: we're not they're yet. ...
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Central bankers to the rescue?
The Economist
I would encourage international readers to visit Greece, Portugal, Spain and Italy to make their own judgments on the "calamitous" state of affairs here. Then take a trip to England, particularly outside of London, and ask yourselves who is really ...
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Italy Debt Risk Rises to Record, Leading European Swaps Higher
San Francisco Chronicle
Credit-default swaps on Spain climbed 13 basis points to 403, Greece added 23 basis points to 1756 and Germany was 2 basis points higher at 87, approaching the record 92 basis points in February 2009. Contracts on Ireland rose 31 basis points to 816 ...
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Appia Announces International Phone Number Availability
TMC Net
... Austria, Belgium, Brazil, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Mexico, Netherlands, Norway, Peru, Poland, Portugal, Singapore, Slovakia, Spain, Sweden, Switzerland, and the United Kingdom. ...
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Downgraded Debt Imparts Lessons for Investors
U.S. News & World Report (blog)
Problems with euro zone debts involving Greece, Ireland, Portugal, Italy, and Spain contributed to concern about a global international crisis. The financial media is in overdrive, offering special reports to make sense of all this. ...
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After $9 Trillion Loss, Markets Heading Toward Global Stagnation
EconoMonitor (blog)
In Italy, the debt amounts to EUR 1.8 trillion. Unlike Greece or Portugal, these two nations – Italyand Spain – represent more than a quarter of the entire Eurozone GDP. In the past few days, French markets have been in turmoil. ...
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Believe It Or Not, Europe Could Use A Hank Paulson
Forbes
5, credit default swap spreads were compressing between Italy and Spain and what Mutti called “the three little PIGs”: Portugal, Ireland and Greece. His point was not that airlifting Paulson himself into Brussels would immediately render the European ...
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European equity rally losing momentum
FXstreet.com
Research from Bernstein showed that JP Morgan had less than $20 billion in exposure to Portugal,Ireland and Italy, Greece and Spain (note exposure at the end of 2010 was at less than $15B). The exposures are equal to less than 1% of the large US ...
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Europe's leaders at beggar's crossroads
New Zealand Herald
With Spain and Italy the most recent dominoes to sway and totter, the stakes are much higher than with the "peripheral" economies of Greece, Ireland and Portugal. The eurozone's "fighting fund", the European Financial Stability Fund (EFSF), ...
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International friendly wrap: Germany, Italy rise to occasion
Soccerway
In Bari, Alberto Aquilani's winner with six minutes to play saw Italy surprise Spain 2-1. Riccardo Montolivo gave the hosts an 11th minute lead but Real Madrid midfielder Xabi Alonso equalised from the penalty spot eight minutes before half-time. ...
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Soccerway
Aegon's Snowden warns of 'huge amount of misery' ahead
FT Adviser
The Aegon team was invested in a financials sector credit from the Portugal, Ireland, Italy, Greeceand Spain (Piigs) region. "They only had one Piigs financial and that went," added Mr Snowden. "First order Piigs financials and second order Piigs ...
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Fast track for €20bn Greek bond buy-back
Financial Times
The refusal of Slovakia, Ireland and Portugal to participate in the programme further reduced loan capacity by almost €3bn, leaving around €24bn of untapped loan promises from the euro area. A commission spokesperson said no decisions had yet been ...
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Global Market Impact on France
Al-Arabiya
France and Germany are the main guarantee of the euro zone economy and France considers that, till now, it offered a lot to small European countries, hit successively by crisis, from Portugal,Greece and Ireland, to Italy and Spain. ...
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How global meltdown is affecting us
Sydney Morning Herald
Is the underlying problem simply too much debt - in the US and some European countries likeGreece, Ireland, Portugal, Italy and Spain? Debt is a big part of it, but it's not the whole story. The latest economic data, including gross domestic product ...
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Italian minister: letter from European Central Bank is bid to bring down ...
Ahram Online
The ECB intervention brought down sharply borrowing costs for both Italy and Spain, the two countries seen as most at risk of following Greece, Ireland and Portugal and needing an international debt bailout.
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Britain tackles the welfare state
Washington Post
With a wary eye on Greece, and a possible contagion from it to Italy, Spain, Portugal and others, Osborne fears a “sovereign debt rerun” of the financial crisis triggered by the September 2008 collapse of Lehman Brothers. He also worries that Britain ...
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What's Spooking Investors?
NPR
"Look, everybody who's following the markets knows that Portugal, Ireland, Italy, Greece, Spainare in some form of financial distress, insolvency, please we need a bailout, one of those three things," he said. "The Germans are reluctant to write big ...
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Swiss leaning towards negative rates – but what about other nations?
MindfulMoney
The crisis nations in the Euro such as Greece, Ireland and Portugal have seen bond yields soar which mean much higher real interest rates. In spite of the recent intervention by the European Central Bank we can now add Spain and Italy to this list as ...
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India needs boldness in policy implementation: Birla
Business Standard
The queue behind Greece grows longer with fiscal problems hitting other nations such as Portugal,Spain, Italy and Ireland, he added. "The US debt situation has also escalated into a new zone of danger. Japan is entering a third decade of low growth," ...
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Global uncertainties test ASEAN: Boediono
Jakarta Post
In Europe, there are difficulties in managing the debt packages of Greece, Ireland and Portugal, and the anxieties of a debt crisis spreading to Italy and Spain. “What does all this mean for us in ASEAN?” Boediono said at the opening speech of the 43rd ...
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Death of the welfare state: our own period drama
ABC Online
Greece is waging a hopeless rear-guard action against the inevitability of default on its debt. And now Italy has been added to Spain, Portugal, Belgium and Ireland on the list of countries requiring a fiscal bailout. We're living in parlous times. ...
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ABC Online
Why there is still room for optimism
Investment Week
Greece, Ireland, Portugal, Spain and now Italy. The market's crosshairs haveshifted around Europe in recent months, each time settling on a bigger target than the last. In these early days of August, global equity and eurozone government bond markets ...
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Painful but vital treatment needed for global markets
The National
Economies such as those of France, Italy and Spain do not go bust overnight, whatever S&P might say. To put the euro-zone crisis in context, the bailouts of Greece, Ireland and Portugal cost less than the US$600 billion (Dh2.2 trillion) of liabilities ...
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Financial ETFs Rally 7% as B. of A. Leads Rebound
ETF Trends
For instance, Citigroup is the US's third largest bank, and recently reported total exposure of $31.7 billion to Greece, Portugal, Ireland, Italy and Spain, reports Alexander Schachtel at Wall Street Cheat Sheet. “Citi currently believes that the risk ...
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ETF Trends
Dividends up despite market meltdown
Vancouver Sun
Europe's sovereign debt crisis is arguably more severe as the European Central Bank, which has already bailed out Portugal, Ireland and Greece, moves to prop up Spain and Italy. Unless the contagion can be contained, Europe could seed the next banking ...
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11/08/2011Aegon insurance reports profit dip on weak dollar
Expatica Netherlands
Aegon said its exposure to sovereign debt of "peripheral European countries" (Greece, Spain, Italy,Ireland and Portugal) was "limited" to 866 million euros, 745 million euros of which it held in Spanish state bonds. The group said in June it paid back ...
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S&P Temper Tantrum
Forbes
Cough Greece, Portugal, Italy, Ireland, Spain. Cough.) Plenty believe S&P's move was political. It was political in the sense their ultimate reasoning (after the much-maligned math error on nonsense government projections) was the debt ceiling debate ...
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Belt up for a rough ride
Otago Daily Times
There are unsettling signs the debt contagion that has driven Ireland, Greece and Portugal into bail-out territory may yet spread to Italy and Spain; further, yesterday, France felt the chill winds of the European debt crisis with shares in three major ...
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Gundlach: Treasuries Could Keep Rallying
Morningstar
The peripheral countries, Greece, Portugal, Ireland, and perhaps even Spain and Italy, I mean the exposure of the European banks, to that sovereign debt is extremely dangerous should there be defaults at the periphery. And you can see it in the action ...
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No quick exit for eurozone from debt crisis - CBS MoneyWatch.com
By DAVID McHUGH
Smart, practical personal finance advice about your retirement, investing, savings, career and real estate. Keep up to date on the latest economic news that actually means something to you. ... A eurobond's averaged-out interest rate could mean higher borrowing costs for Germany, meaning less to spend on schools, pensions and roads — but lower costs for less disciplined ItalyGreeceSpain,PortugalIreland. In essence, the euro would become a "transfer union. ...
Investing RSS | MoneyWatch
What's Spooking Investors? | KOSU Radio
By KOSU News
Filed by KOSU News in US News. August 11, 2011. While Wall Street experiences the biggest stock sell-off in years, some very successful investors don't appear to be concerned. They're out buying stocks while everybody else panics. ... “Look , everybody who's following the markets knows that the PIG countries — PortugalIrelandItalyGreeceSpain — the PIGS are in some form of financial distress,” he said. “The Germans are reluctant to write big checks and bail ...
The News Tribune (Lite) - No quick exit for eurozone from debt crisis
Twenty-one months after Greece triggered financial and political turmoil by ... lower costs for less disciplined Italy, Greece, Spain, Portugal, Ireland. ...
www.thenewstribune.com/.../no-quick-exit-for-eurozone-from...
Ireland ring the changes - SkySports - Story Analysis by BuzzBox
@freakingcat Can't you see that Greece, Ireland, Portugal have fallen? Next in line are Spain,Italy and France. Rugby News: RWC 2011 - Ireland vs France ...
www.buzzbox.com/news/2011-08-11/france:ireland/?...

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