Today: EUROZONE Crisis News, Sep 20, 2011

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Sep 20, 2011

EUROZONE Crisis News, Sep 20, 2011


S&P Italy downgrade new blow for distressed Europe
Reuters
Europe has come under increasing global pressure to resolve a crisis that has seen numerous ratings downgrades and financial rescues for GreecePortugal and Ireland. Analysts said thecrisis will have to be addressed by policymakers starting with the ...
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The truth about the eurozone crisis
PublicServiceEurope.com
Firing such an ill-conceived salvo not only unsettled the financial markets further, it also demonstrates that the German political class is split on how to resolve the euro crisis. At each new turn, the crisis gets bigger and more expensive. ...
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PublicServiceEurope.com
Analysis - Chinese demand could hasten euro zone bonds
Reuters
China is also believed to have gobbled up a big chunk of the AAA-rated bonds issued by the euro zone rescue fund to support Greece, Ireland and Portugal underEU/International Monetary Fund assistance programmes. Beijing's problem is that there just ...
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Reuters
Geithner's fudge won't kill the euro zone debt Ouroboros
Reuters Blogs (blog)
Geithner urged euro zone ministers to leverage their 440 billion euro bailout fund and free more resources to tackle the debt crisis. REUTERS/Mieczyslaw Michalak/Agencja Gazeta The frosty reception given to US Treasury Secretary Timothy Geithner at the ...
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Reuters Blogs (blog)
Eurozone hit by stalled Greece rescue and Italy downgrade
AFP
There is a widespread belief on financial markets, where stocks opened with further falls on Tuesday, that Greece will default at least in part. That could have unpredictable effects of contagion on other rescued eurozone countries Ireland and Portugal ...
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AFP
EU to urge U.S., Japan to act on public deficits at G20
Reuters
Euro zone debt has been in market sights ever since Greece was forced to ask for emergency lending from the EU and the International Monetary Fund in 2010 when it had been overspending for years and tweaking statistics to hide it. The regional crisis ...
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EU integration is the last thing we need
Spiked
Of course, magical solutions to the Eurozone crisis don't exist. Living in Ireland, I don't much relish the collapse of, or an Irish exit from, the Euro. It's one thing to argue we should never have joined; it's entirely another thing to say we should ...
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METALS-Copper edges up from 9-month low
Reuters
... euro zone countries are caught up in the debt crisis. Europe has come under increasing global pressure to resolve a crisis that has seen numerous ratings downgrades and financial rescues forGreece, Portugal and Ireland. Analysts said the crisis ...
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European Crisis Slows down Bulgaria's Growth
Standart News
The financial worries of the Eurozone countries will slow down the economic recovery of Bulgaria, Finance Minister Simeon Djankov told the national television. The financial issues of the EU do not end with Greece, Portugal and Ireland, as economic ...
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Hong Kong Stocks Rise as Chinese Mobile Phone Carriers Rally
BusinessWeek
Italy follows Spain, Ireland, Portugal, Cyprus and Greece as euro-region countries having their credit rating cut this year, reinforcing concern Europe's debt crisis will spread. “Sentiment is taking another hit,” Hans Goetti, the Singapore-based chief ...
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Govt fears GDP growth taking a hit if Euro zone, US cut software buys
Hindu Business Line
Although worst affected EU economies such as Portugal, Greece and Ireland have very little impact on Indian exports, the problem will be more significant if the crisisspreads to Italy and Spain, the assessment notes. In 2010, Portugal and Greece had a ...
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Hindu Business Line
Lagarde must rebalance her biased Fund
Financial Times
About 80 per cent of IMF credit outstanding for all members has been allocated to Europeancountries. If we look only at programmes currently active, we find that just Greece, Ireland andPortugal account for two-thirds of the total non-precautionary ...
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Risk aversion batters rand
Fin24
RMB analysts said in a note on Monday that the inability of European politicians to get on top of the Piigs (Portugal, Italy, Ireland, Greece, Spain) crisis was creating increased risks of anotherfinancial crisis - this time centred on eurozone banks. ...
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Ostriches can't deal with crisis
Times of Malta
Major European economies are experiencing some very serious choppy waters. The aftermath of the worst economic crisis and financial meltdown in the past eight decades is anything but rosy. Countries such as Greece, Spain, Italy, Ireland and Portugal ...
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Portuguese premier: If Greece sinks, Europe will be in danger
Monsters and Critics.com
An aggravation of the Greek crisis would make Portugal's economic recovery more difficult, according to the premier, whose country followed Greece and Ireland in being bailed out by the EUand the International Monetary Fund. Passos Coelho defended the ...
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'Greece Must Live Up to Its Commitments'
Spiegel Online
The two German members of the ECB Council are opposed to buying up the bonds of deeply debt-ridden euro countries like Greece, Portugal, Ireland and Italy, but for months now representatives from southern Europe have outvoted you on this issue. ...
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Spiegel Online
Rumours Beijing has turned its back on French Banks
Property Wire
The news came after panic gripped global markets as a fresh showdown over Greece renewed fears that the eurozone will be plunged further into crises. This helped the pound make back losses against the single currency, with sterling hitting its highest ...
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Oil Prices Succumb to Deep Structural Fears
TheStreet.com
While the so-called periphery PIIGS countries -- Portugal, Italy, Ireland, Greece and Spain -- have all been troubled players in the Eurozone debt crisis, Greece in particular looks more and more to be the region's Achilles heel. Greece is just weeks...
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TheStreet.com
'Turkish banking sector strong, gov't still taking measures to offset possible ...
Today's Zaman
Babacan touched upon the economic developments in the world, especially the debtcrisis in some major European Union countries. Evaluating the possible effects of theeurozone's financial crisis to Turkey, Babacan underscored that this particular issue...
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Today's Zaman
Fund Managers Remain Optimistic In Tumultuous Economic Times
Financial Advisor Magazine
As for international and emerging markets, managers are optimistic despite an overall atmosphere of fear, especially around Greece's debt crisis possibly causing a European collapse. “Will Greecedefault? Yes, but it won't be as severe as the 2008 ...
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The Sad Case of the Germans
EconoMonitor (blog)
If Europe wants to avoid a deepening crisis, it is unavoidable, too.” Absolutely right, as usual. He's right again today in the FT when he argues that Greece should, at this juncture, bolt the EU and revive the drachma (and thus its ability to ...
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Merkel's Euro Strategy at Risk from Partner in Freefall
Spiegel Online
The move comes just as the crisis is at risk of heating up once again with financialmarkets increasingly nervous about contagion, Greece falling short of its austerity pledges and Merkel facing a crucial euro vote in parliament later this month. ...
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Spiegel Online
Italy criticizes S&P downgrade as political, pledges growth and austerity plan ...
Newser
Markets, which were buoyed by hopes that Greece will not be allowed to default, took the surprise move in stride. But the downgrade is likely to reinforce fears that the eurozone's third largest economy is getting sucked into Europe's debt crisis, ...
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Compromised Global Markets Thwart Any Possibility of Economic Recovery: Gold ...
Midas Letter
Most are unlikely to dive back in given fears over Europe's debt crisis and fears of a second recession in the United States that sent equity markets sliding over the summer. The $2 trillion hedge fund industry — often seen as the smartest of the ...
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The Unusual Case of Euroland
Credit Writedowns
It is not quite that extreme because the formation of the European Union has ensured some willingness of member states to come to the rescue of states in financial trouble (something that has been witnessed since the Global Financial Crisis first ...
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The Greek default could happen sooner than later ECB pumps money into markets ...
Belfast Telegraph
They have the power to pump money into the financial system almost without limit: to provide short-term liquidity to the world's banks. It seems that the pressures on the banks as a result of Europe'ssovereign debt crisis have become so severe that ...
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Toronto stock market drops 100 points as traders lose confidence in Greece
Winnipeg Free Press
The Canadian dollar was off 1.15 cents to 101 cents US as investor concerns about Europe's debtcrisis fuelled a stronger US dollar. With Greece's Prime Minister George Papandreou cancelling a trip to the United States and the Greek cabinet meeting to ...
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Is the Eurozone Crisis a British-American fantasy? — DollarCollapse ...
By John Rubino
For now, as we have said for several quarters, the media and financial hysteria surrounding the Greek crisis is primarily in the realm of propaganda and manipulation. To see this, it suffices to note that outside Greece, no Euroland citizen would ...
DollarCollapse.com
NewsDaily: EU to urge U.S., Japan to act on public deficits at G20
By Jan Strupczewski
While GreeceIrelandPortugal, Spain and Italy are under most pressure from markets to reduce budget deficits, the euro zone's biggest economy Germany expects a deficit of just 1.5 percent of GDP this year and a balanced budget in 2014. ... EURO CRISIS IN FOCUS. Euro zone debt has been in market sights ever since Greece was forced to ask for emergency lending from the EU and the International Monetary Fund in 2010 when it had been overspending for years and tweaking ...
NewsDaily: Top Headlines
News Analysis: EU's Economic Crisis
25 min
14/09/2011 Guests: Max Keiser, Keith Pilbeam & Ian Williams. Moody's has downgraded 2 of the largest banks in France. Doubts ...
youtube.com
Worldwide News - Impending Doom for the Euro ...
3 min
The International Monetary Fund (The IMF) has said that urgent action will be needed to prevent a meltdown in the eurozone, as ...
youtube.com

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