Today: EUROZONE Crisis News, Sep 22, 2011

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Sep 22, 2011

EUROZONE Crisis News, Sep 22, 2011

ECB's Stark: Crisis puts euro
Forbes
Europe is facing a crisis brought on by some eurozone member governments running up debt approaching or exceeding 100 percent of economic output. Fears of a government default has led to sharp increases in the interest rates demanded by bond investors ...
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8 Reasons Europe's Crisis is Spreading
ETFguide
The International Monetary Fund (IMF) in its “Global Financial Stability Report” estimates $408 billion in bank's risk exposure to toxic government debt from countries like GreeceIreland (NYSEArca: EIRL) and Portugal. Because Europe's crisis is ...
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IMF criticizes debt crisis response by US, Europe
Boston Globe
Already, the IMF estimated, the rising threat of losses on the bonds of a half-dozen countries - Greece, Portugal, Ireland, Italy, Spain, and Belgium - represents an implicit cost to banks of around $240 billion. With so much total debt outstanding, ...
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Boston Globe
EU Debt Crisis: Italian Bonds Downgraded
The New American
The sovereign debt crisis originally involved four governments — the so-called PIGS:Portugal, Ireland, Greece, and Spain. What is particularly disconcerting for those attempting to solve the EU's economic problems has been the inclusion of Italy in ...
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Euro zone private sector contracts in Sept
Economic Times
The surveys point to economic stagnation in the current quarter and suggest the crisisthat started in Greece, spread to Ireland and Portugal and now threatens Italy and Spain is finally taking its toll on confidence and growth. ...
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Debt crisis: as it happened - September 21, 2011
Telegraph.co.uk
14.10 BREAKING The IMF is estimating that the eurozone debt crisishas increased the risk exposure of European banks by €300bn and said countries must be ready to recapitalise their banks if needed. In the GlobalFinancial Stability Report, ...
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Telegraph.co.uk
A crisis of capitalism
The Guardian
The problem has been the unwillingness to refinance first Greece, thenIreland, then Portugal. Their share in the euro area public debt to GDP ratio is ridiculously low: cancelling the debt would have been less painful. The crisis came because ...
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The Guardian
European Debt Crisis: Are You In or Out?
Motley Fool
By Alex Dumortier | More Articles The European debt crisis has been one long slow-motion train wreck. On Monday, Martin Wolf, the chief economics commentator at TheFinancial Times, suggested that a breakup of the eurozone now looks possible. ...
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What happens to Ireland if Greece defaults?
The Guardian (blog)
Ireland will probably not generate a primary surplus until 2013. Given unprecedented volatility in the eurozone, it is impossible to know where we will be in the euro crisis by then. Megan Greene was the euro crisisexpert at the Economist Intelligence ...
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The Guardian (blog)
Italy downgraded; IMF says Europe behind the curve
Pakistan Times
Europe has come under increasing global pressure to resolve a crisis that has seen numerous sovereign rating downgrades and financial rescues for Greece, Portugal andIreland. A bailout of Italy would overwhelm euro-zone resources. ...
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Euro train-wreck?
BusinessDay
Ireland was one of the first to hit crisis and switch from 'Celtic Tiger' to economicwaste land, but Portugal and above all Greece have presented more serious cases. The continuing inability of Greece to handle a debt that is 156 per cent of GDP ...
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London Session: Out with the Fed and back to Europe
FXstreet.com
US banks have their own problems, along with their European counterparts. Although we have got used to the Eurozone sovereign debt crisis flaring up every now and then, the latest flare up has notched up a gear in its severity since it seems to be ...
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(Anna)stly: Don't be aa PIIG
USD Vista
Greece is in the worst shape of the drove. It has a surmounting debt largely due to theeconomic crisis and there are many worries that the state will go bankrupt. Greece has submitted recovery plans promising high expectations that many, ...
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Germany keeps cool in a crisis
Sydney Morning Herald
Germans have got plenty to blow their horns about when it comes to economic reform. Photo: Getty Images THE financial crisis has turnedEurope topsy-turvy, with governments freezing pensions, unions voting away privileges, and a thick web of safety ...
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Sydney Morning Herald
The Eurozone's Three Fatal Flaws
Business Insider
Beneath all the distractions of austerity and bailouts, the basic structure of theEurozone is fatally flawed. Europe's fiscal and debt crises have dominated thefinancial news for months, and with good reason: the fate of the European Union and its ...
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Ghana: Exports of Nation, Others to EU Under Threat
AllAfrica.com
The effects of the slowdown in Europe will differ across African countries, depending on their exposure to the hardest hit European economies (Greece, Ireland, Portugal, Spain and Italy), as well as the composition of exports, it added. ...
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Asian shares mixed after Italy downgrade
Ninemsn
Asian stock markets were mixed on Tuesday as the eurozone debt crisis deepened after ratings agency Standard & Poor's downgraded Italy's sovereign debt. The move further depressed the already weak euro, which sent Tokyo shares tumbling, ...
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Debt, deficits and the markets
The Economist (blog)
AS THE euro area's sovereign-debt crisis has gone from bad to worse, financialtensions now pose a grave threat not just to the European economy but beyond. Yet there is no simple gauge that explains why investors fret about some euro-zoneeconomies ...
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Lloyd's cuts European debt exposure
Sydney Morning Herald
Many analysts say that Italy and Spain could be the next dominoes to fall in the fast-moving eurozone crisis, which has so far witnessed enormous bailouts for debt-ravagedGreece, Ireland and Portugal. Also on Wednesday, Lloyd's revealed that it had ...
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Has Turkey abandoned the West?
Salon
After all, the spectacle of European economic powers appealing to China for massive purchases of their shaky government debt follows on some truly scary episodes: the effective bankruptcies of three European states -- Greece, Ireland and Portugal, ...
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Salon
Fleming backs Germany and France on opposing use of eurobonds
Irish Times
The strangers proved to be very kind because they are our colleagues in Europe” and their money was funding Irish public services. Sinn Féin finance spokesman Pearse Doherty said the legislation was the wrong way of solving the euro crisis. ...
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DEALTALK-Could BRIC banks ride to Europe's rescue?
Reuters
"M&A is one of the routes out of here." But he and other bankers were doubtful anything will happen soon, while policymakers fail to get to grips with the euro zone debt crisis. "If you are in China or Russia and looking for dramatic European expansion ...
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China is Not a Cash Cow for Eurozone
IDN InDepthNews | Analysis That Matters
The amount needed when looking at estimated refinancing needs for 2012 is huge, totalling EUR 730 billion for the GIIPS countries – an acronym for Greece, Ireland, Italy,Portugal and Spain. FRANKFURT (IDN) - The Eurozone is China's most important ...
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Decision time for the eurozone
BusinessWorld Online
Germany's banks today are the most highly leveraged of any of the major advanced economies, while at the start of the crisis they held close to one-third of all loans made to the public and private sectors of Greece, Portugal, Ireland, Spain, ...
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Long-Term Gold and Silver Stocks Investing Tips
The Market Oracle
Brien Lundin: If the European debt crisis and the S&P downgrade of US sovereign debt had happened separately, say a couple of months apart, I think gold would have risen just as far, but the rise wouldn't have been as steep and the market wouldn't have ...
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Debt crisis threatens entire euro project: ECB board member
Zawya (subscription)
In the 23-page research paper entitled "The Stability and Growth Pact: Crisis and Reform", Stark and his three co-authors proposed that countries which do not abide by the agreements on debt should surrender their economic powers to the European Union. ...
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Eurozone on the brink... fight back! Europe Against Austerity, 1 October
Red Pepper
What does the left say about the crisis of the eurozone? What were the fundamentaleconomic causes of the 'great recession' - and does the left have a different way out? This conference, initiated by the Coalition of Resistance anti-cuts campaign in ...
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Column: Don't expect coordinated easing
Reuters India
Expecting global coordination out of Europe seems a bit rich, given that it can barely coordinate policy internally. The parts of the euro zone that need stimulus most,Greece, Spain, Portugal, Ireland and Italy, are the ones the rest of the euro zone ...
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US pumps £250billion into economy to help business
Daily Mail
'This has put funding strains on many banks in the euro area and has depressed their value.' Since the euroland crisis flared up in Greece last year an astonishing 40 per cent has been wiped off the market value ofEurope's banks. ...
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Daily Mail
Doug Casey: Debt, Doom, and Opportunity
HoweStreet.com
Greece, Italy, Portugal, Spain, Ireland – all these governments are bankrupt. So is France. The euro is in terminal decline. So what does it mean that the USD is running neck and neck with it? It just means both are being debased at similar rates. ...
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Greece sharpens austerity; IMF warns on banks
Myfoxspokane.com
Greece is on the front line of the euro zone debt crisis that has engulfed Ireland andPortugal and now threatens Italy, Spain and some of Europe's biggest banks, risking plunging the West back into recession. The International Monetary Fund on ...
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EU debt crisis: Greece forced to wait for crucial bailout funds - as it ...
Europe's Economic and Financial Affairs Council is gathering in Wroclaw, Poland , ...9.23am: A quick bit of news on the Kweku Adoboli, the UBS trader arrested ... On theEurozone crisis: We need to resolve the situation in Greece. ... Juncker, president of the Eurogroup, began by congratulating Portugal and Ireland on the ...
www.guardian.co.uk/.../sep/.../euro-debt-crisis-finance-ministe...
Greece says committed to bail-out obligations - RTÉ News
Barroso calls current crisis the 'most serious challenge of a generation' ... otherfinancially troubled European countries such as Portugal, Ireland, Spain or Italy. ...17 eurozone countries for not taking tough enough actions to prevent the crisis. ...
www.rte.ie/news/2011/0914/euro-business.html
International alarm over euro zone crisis grows - Yahoo! News
News. BERLIN/ROME (Reuters) - International alarm over Europe's debt crisis hit new heights on ... Article: Snapshot: U.S. alarmed about euro zone, Greek default talk grows ... Article: Portugal hit by euro periphery concerns: IMF ... In financial markets, stocks and the euro rose on Tuesday on hopes Europe's top powers will ...
ca.news.yahoo.com/geithner-heads-europe-debt-fears-mount-...
'Euro zone crisis could rip European Union apart' - International ...
Euro zone crisis could rip European Union apart?, The head of the EU ... This is a fight... for the economic and political future of Europe?, International News. ... to prevent a debt crisis that has already claimed Greece, Portugal and Ireland, ...
www.livemint.com/2011/09/.../8216Euro-zone-crisis-could.ht...
Eurozone Debt Crisis: EU Finance Chiefs Delay ... - Sky News
Europe's finance ministers have failed to come to a decision on a further round of ... package and is designed to help Portugal, Ireland and ...
news.sky.com/home/business/article/16070599
Germany faces unappetizing choices in euro crisis | Deseret News
But as the debt crisis intensifies, the leader of Europe's biggest economy is sticking to a ... by economists is issuing eurobonds, debt backed jointly by all eurozone nations.... Affairs Council in Wroclaw, Poland, to discuss Europe's financial crisis. ... But after multiple bailouts — Greece, Ireland, Portugal and then Greece a ...
www.deseretnews.com/.../Germany-faces-unappetizing-choice...
BRICS nations eye rescue plan for EU - The Globe and Mail
Increased holdings of euro-denominated bonds a possibility as Brazil, Russia, ...Search: News; Quote; Web; Businesses; People; Jobs. News Search. News ... afinancial backstop to the so-called PIIGS – Portugal, Ireland, Italy, Greece and Spain. ... Since the euro zone crisis started, it has bought Portuguese and Greek ...
www.theglobeandmail.com/report-on.../article2163780/
News from the Associated Press | Wacotrib.com
U.S. Treasury Secretary Timothy Geithner steps out of an informal meeting of European Union finance ministers who are discussing euro zone crisis and rescue ...
hosted2.ap.org/.../id-865033a06c104c2f9a245821959da476
Geithner tells EU to speak as one on eurozone crisis - Business ...
Timothy Geithner told EU finance ministers to end talk about a eurozone break- up and work with the European Central Bank to fight the debt crisis. ... secretary Timothy Geithner told European Union (EU) finance ministers on Friday they ... Portugal, which have both been bailed out, were on track and that Greece's renewed ...
mg.co.za/.../2011-09-16-geithner-tells-eu-to-speak-as-one-on-...
A primer on the Eurozone crisis & thread for recommended reading ...
A primer on the Eurozone crisis & thread for recommended reading ... (This will likely remain the most important story in the news this week. ... A breakdown of whereGreek, Irish and Portuguese debt is held: ... sign away almost the last vestige of Irish economic sovereignty to try and get back into some sort of hard Euro? ...
sluggerotoole.com/.../a-primer-on-the-eurozone-crisis-thread-f...

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