Today: EUROZONE Crisis News, Sep 08, 2011

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Sep 8, 2011

EUROZONE Crisis News, Sep 08, 2011

Europe faces ongoing debt crisis
Washington Post
Daniel Ochoa de Olza / ASSOCIATED PRESS Greece's second and third largest lenders, Eurobank and Alpha Bank, announced plans to merge in order to better withstand the country's acute financial crisis. The move created Greece's biggest bank and was ...
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German Court Rejects Challenges to Euro Bailouts
New York Times
... of the euro zone, including Greece, Ireland and Portugal. Stock markets inEurope and the United States recovered sharply on news of the court's action. Europehas swung from gloom to cautious optimism repeatedly during its financial crisis, ...
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New York Times
Van Rompuy: Euro failure would be 'mind boggling'
PublicServiceEurope.com
by Daniel Mason If the European Union was allowed to unravel as a consequence of the eurozone sovereign debt crisis, the political andeconomic costs would be "mind-boggling" – Herman Van Rompuy said yesterday. In a speech to the London School of ...
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PublicServiceEurope.com
Politics root of Europe crisis
Stuff.co.nz
"What we are facing isn't so much a financial crisis as a political crisis where politicians have been struggling with Greece for a year now. Every time they reach a conclusion it's too little, too late." As a result, the consensus that Greece, Ireland ...
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EFSF Chief: Euro-Zone Debt Strategy Is Working Outside Greece
Wall Street Journal
By Tom Fairless FRANKFURT (Dow Jones)--The euro zone's strategy to address its sovereign debtcrisis is working outside Greece, and permanent transfers within the currency bloc will never be necessary, the head of the euro-zone's rescue fund said ...
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Dutch PM calls for Europe budget tsar
Financial Times
Mr Rutte's proposal is one of the first salvos in what is expected to be an intense two-month debate over whether the eurozone needs to centralise economic policymaking in order to survive the ongoing debt crisis. Last month, eurozone leaders tasked ...
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Financial Times
What If Britain Had Joined The Euro?
Motley Fool UK
The new Prime Minister, although critical of Britain's membership of the eurozone, pledged to work with our European partners to make it a success. But the sovereign debt crisis continued to rumble on, with first Ireland and then Portugal needing to be ...
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Portugal pays raised rate for three-month funds
AFP
Portugal, the third eurozone country after Greece and Ireland to have received a bailout package, no longer raises long-term debt on the markets as borrowing prices are too high. Portuguese finance minister Vitor Gaspar said on Tuesday that Portugal...
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AFP
Close The The Edge, Down By The River ... (Part 2)
Seeking Alpha
The three month euro basis swap – deep in "crisis territory." Inflation adjusted yields hit a long term support line in Europe. 10 year government bond yields of Ireland, Greece, Portugal and Spain – all in gear to the upside again. Greek yields hit a ...
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Retirement Age Boost Pushes Italians Into Streets
In These Times
But thanks to fiscal austerity measures related to the ongoing European economic crisis, Italians can now look forward to working well into their golden years. Tens of thousands of Italians marched in Rome and other cities on September 6, protesting a...
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In These Times
The Icarus Zone - by David Marsh
Foreign Policy (blog)
To correct the malignant effects of years of economic recklessness, Europe, backed up by the International Monetary Fund, is imposing austerity and belt-tightening on the problem-ridden peripheral states led by Greece, Ireland, and Portugal, ...
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German court rejects appeal over EU bailouts
TheParliament.com
Since last year, eurozone nations have agreed to support Greece, Portugal and the Republic ofIreland via the European Financial Stability Facility, the fund set up to help countries struggling to pay their debt obligations. ...
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Stock Market News for September 7, 2011
Zacks.com
Euro-zone debt concerns have been a constant laggard for US benchmarks since late last year when Ireland was afflicted by the debt crisis. Spain, Portugal and Greece have been added to that list and Italy seems to be headed in the same direction. ...
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Long-term view to weather the economic storm
The National
European and US political leaders have been staring at this growing credit crisis for months like deer mesmerised by headlights, grudgingly making only minimal moves toward solving the problem. InEurope, mortgaged economies in Greece, Portugal, Italy, ...
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US urges "decisive" Europe action ahead of G7
Reuters UK
But euro zone sources said governments have no plans to inject any further capital into banks over and above the money earmarked for the financial sector in emergency loan programs to Greece, Ireland and Portugal. With Asian economies deeply concerned ...
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Reuters UK

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