Today: EUROZONE Debt Crisis News, Aug 30, 2011

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Aug 30, 2011

EUROZONE Debt Crisis News, Aug 30, 2011


New Worries in Europe Over Pace of Growth
New York Times
But Mr. Trichet told a special session of the European Parliament's economic committee, called to discuss the debt crisis in Europe, that inflation could remain above the bank's target level of 2 percent “over the months ahead” and predicted that ...
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Hungary Faces 'Threats' From Debt Crisis
Wall Street Journal
By GORDON FAIRCLOUGH Hungary's prime minister said his country faces "extraordinary, immediate threats" from the mounting debt crisis and slowing economic growth in the neighboringeuro zone and he warned his constituents that further government ...
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German Debate on Bailout Fund Is Test for Merkel
Wall Street Journal
Yet a failure by Ms. Merkel to win enough support to carry the measures from within her own base would likely cripple her politically at a time when many in Europe are looking to Berlin for leadership in dealing with the debt crisis. ...
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Wall Street Journal
The Perfect Metaphor for the European Debt Crisis
Firedoglake
We need to remember that what we refer to today as the 'European Sovereign Debt Crisis' began as a private sector financial crisis back in 2008, when 'too big to fail banks,' writing deep out of the money options on taxpayers, quite unexpectedly (to ...
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Growing Financial Stress May Set Euro Up For A Fall
Wall Street Journal
By Javier E. David Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--If the persistently stable euro/dollar exchange rate were the sole proxy of the market's level of comfort with Europe's debt crisis, then all would be well in the euro zone. But it's not. ...
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A new debt crisis looms
DAWN.com
Concerns are once again being expressed about the health of the banks, about America's nationaldebt and, above all, about whether the eurozone can survive its current crisis intact. Standard Chartered and HSBC were the two UK-based banks to bounce ...
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Europe Factors-Shares set to extend gains; focus on banks
Reuters
AT) sealed a merger on Monday that could herald further sector consolidation in the country at the heart of Europe's debt crisis. Investors awaited an Italian bond auction later in the session. Italy's borrowing costs are set to fall, thanks to support ...
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Croatia Shouldn't Rush to Feuding Euro Area After EU Entry, Milanovic Says
Bloomberg
The Social Democrats will probably be forced to turn to the International Monetary Fund to strengthen the country's recovery amid the euro region's sovereign debt crisis, said Goran Saravanja, chief analyst at Zagrebacka Banka dd, the Croatian unit of ...
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Slovakia - Factors To Watch on August 30
Reuters
BERLIN, Aug 26 (Reuters) - Slovakia should block changes to the euro zone's rescue fund, a senior Slovak politician said, reiterating his opposition to the currency bloc's plans to tackle the debt crisis. Slovakia's economy will expand slower than ...
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Merkel's domestic crisis threatens the Euro
Spectator.co.uk
As August draws to a close, Europe is bracing itself for a series of September sovereign debt crises. Events in Germany at the moment have the potential to make these crises into events that could break the back of the Eurozone. ...
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Spectator.co.uk
Nobel laureate praises Argentina; tells US and EU spending is the way out of ...
MercoPress
There is a bit of luck in that, and the pain the country suffered after the collapse of the peso at the beginning of the last decade shouldn't be forgotten” said Stiglitz, but “ask yourself how strong Argentina would be now if its debt crisis had been ...
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Luxury-Home Prices in London Rise as Overseas Investors Seek Secure Assets
Bloomberg
“You had the US debt crisis, euro-zone debt crisis, financial market turmoil and none of those things have touched” London's luxury-property market. The benchmark Stoxx Europe 600 Index entered a bear market on Aug. 8 and has declined about 21 percent ...
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US STOCKS-Wall St surges 2 pct on Greek bank deal; trade thin
Reuters
AT) sealed a merger with help from Qatar, shoring up a sector battered by the euro zone's debt crisis. For details, see [nLDE77S070] Insurers also rose sharply as property damage from Hurricane Irene was less than feared, according to early estimates. ...
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Stock Market
BusinessWorld Online
EXCEPT for Tuesday, the Philippine Stock Exchange index (PSEi) ended all trading days of last week in the red amid renewed fears of a broader euro zone debt crisis and poor economic data in the United States. It closed at 4305.56 last Friday, ...
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International financial news
Ninemsn
BRUSSELS - European Central Bank president Jean-Claude Trichet urged eurozone governments on Monday to quickly implement a debt crisis plan, under a cloud of high economic uncertainty and market turmoil. WASHINGTON - US consumers rebounded in July to ...
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FOREX: Euro at Risk as Debt Fears Return, US Dollar May Rebound
DailyFX
The central bank has already bought 120.3 billion euro in periphery-country debt. Indeed, the Euro Zone debt crisis remains broadly unresolved and the lofty pronouncements made at the July 21 EUleaders' summit are becoming increasingly difficult to ...
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MEPs blast governments
Europolitics.info
By Sarah Collins | Monday 29 August 2011 MEPs have blamed governments for undermining investor confidence in the single currency, blasting the "piecemeal" and blinkered response to the debt crisisthat is continuing to grip several eurozone economies. ...
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European Stocks Seen Higher; Greece in Focus
CNBC.com
... Bank showed it bought fewer euro zone bonds last week. An Italian bond auction on Tuesday is expected to see yields fall due to ECB support. On Monday ECB President Jean-Claude Trichet told EU nations to get their act together on the debt crisis in ...
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CNBC.com
Aust stocks jump at open
Business Spectator
Financial stocks made the most ground in the US, in a session of broad-based gains, after the merger between Greek banks Alpha and EFG Eurobank, with help from Qatar, helped steady a sector that has been troubled by the euro zone's debt crisis. ...
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Stocks jump after Wall Street soars
Sydney Morning Herald
Financial stocks were the top gainers after Greek banks Alpha and EFG Eurobank sealed a merger with help from Qatar, shoring up a sector battered by the euro zone's debt crisis. European stocks rallied following better-than-expected US consumer ...
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Spain to set deficit limit in constitution as growth slows
EITB
The deal follows calls by Germany and France for Spain and other states at the sharp end of theeuro zone debt crisis to set binding limits on their deficits to regain the trust of investors. Spanish debt prices were little changed after the ...
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Beijing Confident in Euro Economy, Says Sarkozy
NTDTV
Around a quarter of China's $3 trillion of foreign currency reserves are held in euro assets. And that's partly why China has been concerned about the European debt crisis. But French President Nicolas Sarkozy said last week that Chinese officials ...
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Commentary: A second credit crash is distinctly possible
MarketWatch
Fact 1 for Das is that the European debt crisis has taken a turn for the worse as there is serious risk that even the half-baked bailout plan announced on July 21 cannot be implemented. He points out that Finland, Austria, the Netherlands, Slovakia, ...
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Why gold prices are high
BusinessWorld Online
Even after the US debt-ceiling crisis was resolved earlier this month, investors remain wary of the US' capacity to meet its obligations. This uncertainty was embodied in Standard & Poor's decision to downgrade the US' credit rating from triple-A to ...
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Newspaper Briefing, including 'Banks responsible for over a third of UK ...
Proactive Investors UK
Euro paralysis threatens to hurt innocent bystanders: Eurozone governments were attacked for failing to find a solution to the areas debt crisis. Polands Finance Minister warned that the failure could have traumatic consequences for countries both ...
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Hungary PM warns of 'Greek-style' result
Irish Times
Hungary received a €20 billion emergency loan from the International Monetary Fund and theEuropean Union in 2008, when the financial crisis paralysed Budapest's ability to raise money by issuing debt. Mr Orban froze talks with the fund last year after ...
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Europe's Crisis of Currencies
mydigitalfc.com
Part of the answer is that countries on the euro are stuck with a severe competitiveness problem that can only be resolved with grinding deflation, making their debt problems worse. On top of that, however, is the proposition that countries without ...
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Rostowski: Europe risks 'collapse'
Warsaw Business Journal
According to Mr Rostowski, the main problem of the euro area is not economics but politics, andeuro-zone member governments are doing too little to solve the sovereign debt crisis. Mr Rostowski said that two types of populism are eating at the ...
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Solidarity 1980 Square, Brussels
thenews.pl
According to Konrad Niklewicz, spokesman for Poland's six-month EU presidency, which began on 1 July, talks between EC president and PM Tusk will concern the debt crisis affecting Euro Zonenations. (pg)
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Nordea to cut 2000 jobs
Gulf Daily News
Rystedt said the job cuts were in line with a previous announcement that the bank would focus on reining in costs in the quarters ahead and had no direct relation to worries about the impact of southern Europe's debt crisis. ...
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Gulf Daily News
Merkel Making Stop in Slovenia to Discuss Euro Crisis
STA - Slovenska Tiskovna Agencija (subscription)
Ljubljana, 30 August (STA) - German Chancellor Angela Merkel will pay a working visit to Slovenia on Tuesday for talks with PM Borut Pahor which are expected to focus on the debt problems in theeurozone, closer ties among the members of the common ...
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Merkel on edge over euro, Libya backlash
The Citizen Daily
But it is Merkel's piecemeal approach to the euro zone's worsening debt crisis that has come under fire over the past week and now threatens her iron grip on power in Germany.For some in Germany, she has gone too far by bailing out stricken euro zone ...
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Global stocks rise on US data though conviction lacking
Moneycontrol.com
But with the euro zone debt crisis showing no signs of ending soon and some European banks still facing difficulties in raising funds in the money markets, there is a growing likelihood that the rally may run out of steam quickly. ...
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Moneycontrol.com
Eurozone officials grilled over union's debt crisis « Russian News ...
By admin
The President of the European Central Bank has defended Europe's bailout-driven survival efforts, amid widening divisions on managing the debt crisis. A special economic summit in Brussels has focused on halting its spread in the EU.
Russian News From Russia
XE.com - FOREX: Euro at Risk as Debt Fears Return, US Dollar May ...
Indeed, the Euro Zone debt crisis remains broadly unresolved and the lofty pronouncements made at the July 21 EU leaders' summit are becoming increasingly difficult to implement, with Greece once again a sore spot as Finland threatens to ...
XE Forex News
BRUSSELS | EU official: Market turmoil threatens recovery | The ...
... warning from EU Monetary Affairs Commissioner Olli Rehn came after a turbulent summer for markets across the globe, as investors worried about a potential new recession in the United States, the eurozone's ability to resolve its debt crisis ...
The Herald | HeraldOnline.com - Front

EU Debt Crisis: US Funds Show True State of Euro Zone Banks ...
But in 2007, they quietly helped to spark the crisis in the mortgage-backed ... Now , the good newsis that these raw numbers are small compared to the total volume ... euro zone authorities should offer joint guarantees for debt issued by banks, ...
www.cnbc.com/.../US_Funds_Show_True_State_of_Euro_Zo...
ECB chief urges eurozone to implement debt crisis plan ...
ECB chief urges eurozone to implement debt crisis plan ... of all other euro area governments to fully honour their own individual sovereign signature is key in ...
www.eubusiness.com/news-eu/eurozone-finance.bwh
CHINA For Beijing, euro debt crisis like 'black death' - Asia News
Europe's “sovereign debt crisis has spread like the Black Death of the fourteenth century across theeuro zone countries,” said the article signed by Zhang ...
www.asianews.it/.../For-Beijing,-euro-debt-crisis-like-‘black-d...

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