Today: EUROZONE Crisis News, Sep 15, 2011

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Sep 15, 2011

EUROZONE Crisis News, Sep 15, 2011


European treasury needed to avoid Depression: Soros
Reuters
(Reuters) - Billionaire investor George Soros has warned Europe's debt crisis risks triggering another Great Depression unless euro zone leaders adopt a series of radical policy measures, including the creation of a common treasury. ...
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Reuters
Geithner: Europe can manage debt crisis
AFP
Geithner said at the Seeking Alpha investor conference in New York that Europeneeded to shore up global confidence that it can handle the crisis stemming from unsupportable debt loads in countries like GreecePortugal and Ireland. ...
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AFP
EU borrows €5bn to finance Portugal rescue
Financial Times
By David Oakley The European Union borrowed €5bn from the the bond markets on Wednesday to finance rescue loans to Portugal. The 10-year bond, which was rated triple A, saw strong demand despite worries about the eurozone crisis; central banks and ...
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RPT-WRAPUP 3-Moody's cuts French banks as euro crisis deepens
Reuters
Some analysts and industrialists say a combination of a Greek default and a financial meltdown in Italy could engender a banking crisis akin to the 2007-8 global credit crunch and risk tearing theeuro zone apart. "I think there is a possibility, ...
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Euro-Zone Employment Up, Inflation Holds
Wall Street Journal
By PAUL HANNON And ALEX BRITTAIN LONDON—The number of people in work across the 17 countries that share the euro rose at the fastest pace since before the onset of the global financial crisis during the three months to June, while euro-zone inflation ...
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World Bank president criticizes Eurozone countries for debt crisis, US for ...
Washington Post
Fears that Greece is headed for a default on its debt have roiled markets for days. A Greekbankruptcy could destabilize other financially troubled European countries, such as Portugal,Ireland, Spain and Italy. It would also be a severe blow to many ...
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Germany's choice
European Voice
Germans blamed others when the eurozone crisis erupted almost two years ago, but as country after country was engulfed, that position became untenable. Greece could be faulted for profligacy, but Spain? Portugal could be held responsible for chronic ...
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Slaughtering the PIIGS
Reuters
For years, Europe's so-called peripheral countries — Portugal, Italy, Ireland, Greece and Spain — have complained about this acronym, but the euro zone's sovereign debt problems have only entrenched it further. Yet, it's time to acknowledge that the ...
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Are eurobonds the way to solve the debt crisis?
The Guardian (blog)
It's a non-runner. " Are Eurobonds the way to solve the debt crisis?" No that is a cunning plan that would bring the sound economies in Europe, especially Germany to go the same way as Greece, Ireland, Portugal and Grease. ...
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The Guardian (blog)
World Bank chief scolds eurozone nations
istockAnalyst.com (press release)
European Central Bank and European Union leaders in Brussels had pressed Rome for quick passage to calm markets rocked by a crisis that could endanger the entire 17-member eurozone. But the planned cuts and taxes have angered many Italians, ...
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Greece To Be Saved By Conference Call
Seeking Alpha
Obviously this didn't impress the markets much, given where Greek debt now trades. It was also reported by Reuters yesterday that "International alarm over Europe's debt crisis grows," with treasury secretary Geithner boarding a Europe-bound plane in ...
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China vows to boost European investment
China Daily
The first is to let Greece go bankrupt and stabilize the euro zone, ensuring the safety of other economies, such as Italy. The second is for Germany, the largest economy in the EU, to reorganize the entire European market to tackle the crisis. ...
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China Daily
Sterling at 8-month low vs dlr on UK growth, bank concerns
Reuters UK
"The UK banking sector is exposed to the euro zone crisis, particularly to Portugal, Italy, Ireland,Greece and Spain," said Chris Turner, head of fx strategy at ING. "We don't want to see them take a hit on their exposure to French banks as well," he ...
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Can China save Europe?
CNN
... has been mentioned by many economists and financial experts as a possible way to help end the crisis. A euro bond, in principle, would have lower yields than bonds for Greece, Ireland andPortugal -- the three most troubled Europe members. ...
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MEPs call for German commissioner to apologise or resign
EUobserver.com
By Honor Mahony German commissioner Guenter Oettinger's foray into the busy world of commenting on the eurozone crisis has backfired spectacularly with a group of angry MEPs demanding he retract his words or resign. In a letter sent Wednesday (14 ...
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'Perfect Storm' of Global Banking and Sovereign Debt Crisis to Lead to Global ...
FXstreet.com
French banks have been downgraded and Chinese Premier Wen's call that Europe get its own house in order quashed the unsubstantiated and unsourced rumors regarding massive Chinese intervention to solve the Eurozone debt crisis. European banks are ...
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Euro Strengthens as Merkel, Sarkozy Support Greek Debt Effort
BusinessWeek
European Union leaders in July proposed expanding the role of the 440 billion euro ($602 billion) EFSF -- the fund that has helped bail out Greece, Ireland and Portugal -- to buy bonds in the secondary markets, aid troubled banks and offer lines of ...
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EU leaders seek to pull Italy back from the brink
European Voice
While bail-out arrangements can rescue Greece, Ireland and Portugal, Italy is considered too large. Spain is also seen as too big to rescue. While Spain is not in as much difficulty as Italy at the moment, the ECB is also continuing its emergency ...
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EUROPEAN OPENING NEWS INCLUDING: Japanese PM Noda said the economy will grow ...
Proactive Investors UK
... stemming a debt crisis engulfing the Eurozone's third largest economy. (RTRS) EFSF CFO said the EFSF is ready to raise more funds for Greece if given the mandate. He also said the fund isn't likely to issue a long-term bond for Ireland or Portugal ...
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BOTAŞ to sue Greece for outstanding $300 million gas debt
Today's Zaman
The leaders of Greece, France and Germany sought ways to contain the spiraling debtcrisis and prevent it from further roiling global financial markets in a teleconference on Wednesday. Fears in recent days that Greece was heading rapidly towards a ...
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Today's Zaman
Indian shares surge 1.5 pct as techs rally on weaker rupee
Reuters
Besides surging interest rates, fears of the United States slipping back into recession and euro zone debt crisis, which have seen Greece, Ireland and Portugal forced to take bailouts, have roiled Indian shares in recent weeks. ...
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It's raining… damn Brussels!
On Line opinion
Economically the Euro zone is, clearly, facing fiscal coordination problems, even if there is aEuropean Central Bank. New ways of flexible economic cooperation will have to be found to manage the common currency, to avoid crises in the future, ...
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Slovakia learning what it takes to be part of European community
CBC.ca
In the crisis of the following year it shrank, but it has since bounced back, growing by 3.3 per cent in the past year. Despite this dramatic progress, Slovakia is still the second poorest country in the euro zone (after Estonia), poorer than the ...
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CBC.ca
COLUMN - The Crashing Euro: George Soros
Reuters India
Angela Merkel then declared that the guarantee should be exercised by each European state individually, not by the European Union or the eurozone acting as a whole. This sowed the seeds of the euro crisis because it revealed and activated a hidden ...
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Geithner claims Europe ready to do more to help euro
CanadianBusiness.com
German Chancellor Angela Merkel on Tuesday sought to calm market fears that Greece is heading for a chaotic default on its debts as Europe struggles to contain a crippling financial crisis. (AP Photo/Michael Sohn) ATHENS, Greece - US Treasury Secretary ...
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Greek PM to hold crisis talks with Merkel, Sarkozy
Houston Chronicle
Europe's big trading partners — the US and China — have made clear they want the crisiscontained. China's Premier Wen Jiabao said European countries needed to tackle their debt problems and make changes to help restore global financial stability ...
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DATA SNAP: Euro-Zone Employment Rose At Fastest Rate Since Crisis
NASDAQ
By Paul Hannon, Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- The number of people in work across the 17 countries that share the euro rose at the fastest pace since before the onset of the global financial crisis during the three months to June. ...
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French banks downgraded ahead of talks
Ninemsn
Battling to prevent a debt crisis that has already claimed Greece, Portugal and Ireland, Silvio Berlusconi's government hopes deputies will on Wednesday pass an austerity package to balance the books by 2013.
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Eurozone crisis could rip EU apart: officials
Jakarta Globe
"Italy is ready to give up all sovereignty needed for a genuine European central government," Frattini said. Battling to prevent a debt crisis that has already claimedGreece, Portugal and Ireland, Silvio Berlusconi's government hopes deputies will on...
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Jakarta Globe
China will expand investment in Europe
The Age
Portugal and Ireland have also received rescue packages while analysts have warned that Italy and Spain could follow suit, leading to warnings that the crisis could spread to other major economies. Next week, China will discuss possible aid to the ...
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Searching for security
Zawya (subscription)
The rotten roots of today's market instability are sunk in the very shores that have long been the bedrock of the global economic system. The 2008 banking crisis, the Eurozone sovereign debtcrises and the US credit rating downgrade have upended many ...
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French, Greek, German leaders insist debt-ridden Greece is 'integral' part of ...
Global Saskatoon
This is a fight for what Europe represents in the world. This is a fight for European integration itself." US Treasury Secretary Timothy Geithner, who is due to meet with eurozone finance ministers in Poland on Friday, also weighed in to the crisis. ...
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Greek PM to hold crisis talks with Merkel, Sarkozy
MSN Money
By ELENA BECATOROS ATHENS, Greece (AP) - The leaders of Greece, France and Germany will seek ways to contain the spiraling debt crisis and prevent it from further roiling global financialmarkets in a teleconference on Wednesday evening. ...
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ekathimerini.com | Eurozone crisis could rip EU apart, officials warn
By Yacine Le Forestier. The eurozone debt crisis now threatening banks could destroy six decades of post-war European integration, top EU officials warned on Wednesday. The dire warning that post World War II Europe risks disaster came ...
ekathimerini.com : Latest News
Eurozone crisis could rip EU apart: Officials
Home; News Categories ... The eurozone debt crisis now threatening banks could destroy six decades of post-war European ... that comprises 17 of the 27 EU countries, a day before European finance ministers gather in Poland ... Battling to prevent a debt crisis that has already claimedGreece, Portugal and Ireland, Silvio ...
www.herald.co.zw/index.php?option...id...
Moody's cuts French banks as euro crisis deepens - BNN News
... to Europe's financial sector from a deepening euro zone sovereign debt crisis. ... an adequate cushion to support its Greek, Portuguese and Irish exposure. ...
www.bnn.ca/.../Moodys-cuts-French-banks-as-euro-crisis-deep...

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