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Sep 29, 2011

EUROZONE Crisis News, Sep 29, 2011

Eurozone crisis: Live coverage
Financial Times (blog)
He had changed his mind, he said, because since then countries such asIreland, Portugal and Spain had demonstrated that under the pressure of the crisis measures, all had taken drastic measures to improve their government finances. ...
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Germany Votes Yes, But the Euro Crisis Is Far From Over
TIME
The ongoing crisis has strained German solidarity with its European neighbors. The popular view of debt-laden countries like Greece, Portugal and Ireland is that they are feckless, reckless and lazy. Merkel has struggled to dispel such notions, ...
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Debt crisis: live
Telegraph.co.uk
Angela Merkel this week insisted that this is not a euro crisis at all, but a debt crisis. She's half right: the imbalances at the heart of the eurozoneare part of a global problem which affects Britain and the US almost as badly as Spain or Ireland. ...
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Telegraph.co.uk
Europe Meltdown Seen Converging With Recession in Survey
BusinessWeek
For more on the euro crisis, click on {EXT4 }) Sept. 29 (Bloomberg) -- Global investors anticipate Europe's debt crisis leading to an economic slump, a financial meltdown and social unrest in the next year with 72 percent predicting a country ...
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Pandit Sees Euro Surviving Crisis as Citigroup Limits Its Risk in Region
Bloomberg
Global investors anticipate Europe's crisis leading to an economic slump, a financialmeltdown and social unrest in the next year with 72 percent predicting a country abandoning the euro within five years, according to a quarterly survey of Bloomberg ...
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BBC apologises for 'idiot' EU jibe
Sky News Australia
The BBC has apologised to the EU after a Brussels official was repeatedly called an 'idiot' when taking part in a flagship news broadcast on the eurozone debt crisis. TV bosses said they contacted European Commission economic affairs spokesman Amadeu ...
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Deeper Look At EU Sovereign Debt And Financial Institutions
Seeking Alpha
European banks are the latest casualties of the EU Sovereign debt crisis, reflecting fears that these institutions have too much exposure to sovereign bonds issued by the fiscally weak PIIGS (Portugal, Italy, Ireland, Greece and Spain). ...
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Markets await auditors' verdict on Greek austerity push
Capital FM Kenya
German lawmakers vote on Thursday on expanding the scope and size of the EU's current rescue fund — the European Financial Stability Facility (EFSF). It has already helped rescue Ireland and Portugal and will be tapped for Greece's second bailout. ...
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Capital FM Kenya
Top EU official urges more integration
BusinessWeek
Fears the eurozone's third and fourth largest economy may get sucked into Europe'sdebt crisis had stoked fears they would lose access to market funding and be forced into requesting bailouts, like Greece, Ireland and Portugal already have. ...
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Majority Of Global Investors Predict Recession In Europe: Report
Huffington Post
Even as the German parliament voted Thursday to expand the euro zone bailout fund, the poll highlights investors' concerns that the region won't be able to avert a crisis.Greece faces the prospect of running out of cash in October, according to ...
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Pharma sales help to cure Irish ills
Financial Times
It was the first time Ireland achieved two consecutive quarters of growth since the property crash and banking crisis hit from 2007, which led to the bail-out last year from the International Monetary Fund and European Union. Strong export growth has ...
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Ernst & Young says action required to avert recession in Eurozone; Rate cut ...
FinFacts Ireland
Marie Diron said: “Unlike Greece, Ireland's external competitiveness remains intact and the country has the potential to grow its way out of thecrisis. However, risks in the short term continue to dominate Ireland's economic outlook. ...
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FinFacts Ireland
Eurozone economic sentiment falls sharply in September
Economic Times
In large part, the deterioration reflects concerns about the impact on the real economy from the debt crisis that has affected Greece, Ireland and Portugal and threatens Spain and Italy, not to mention the broader global economy. European businesses ...
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This is a German banking crisis - and they must lead the clean-up
Telegraph.co.uk
Stabilising the euro is also crucial for Germany because, despite the widespread state of denial there, this is a German banking crisis. It was Germany's banks that provided much of the credit to countries such asGreece in the first place, ...
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Telegraph.co.uk
The European Parliament Approved the Reform of the EU EconomicGovernance
Cause and Effect in European Politics and Economy
That is exactly what the reform of EU's economic governance is aiming. Probably, if there was no financial crisis that has grown into a debt crisisof the euro area this reform would have happened sometime in the future. However, the events in recent ...
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Cause and Effect in European Politics and Economy
Asia stocks drop as EU crisis persist
Press TV
So far, three euro zone countries -- Greece, Ireland and Portugal -- have had to resort to EU/IMF rescue bailouts after their debt servicing costs rose to unsustainable levels. Concern over Europe's plans to preventGreece from defaulting and contain ...
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Press TV
Major European Bank Stocks are Connected in a State of High Volatility
Wall Street Pit
Accordingly, the volatility connectedness of the major Eurozone banks started to increase, reaching 87% by 10 May 2010 as EU leaders failed to implement a viable solution to the Greek debt crisis. Even though, under pressure from the markets, ...
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Soros: Europe is in a More Dangerous Situation than the U.S. in 2008
OilPrice.com
In a number of recent interviews, noted financial expert, legendary hedge fund manager and philanthropist, George Soros, expressed his professional conviction and provided advice regarding Europe's current financial crisis. Soros believes Europe is ...
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Stock Market News for September 29, 2011
Zacks.com
Separately, Finland voted in favor of approving the changes to European FinancialStability Facility (EFSF), the bailout fund that aims at boosting troubled nations likeGreece, Ireland, Portugal, Spain and also Italy. The EFSF intends to allow ...
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Merkel scrapes through euro vote, but trouble ahead
Monsters and Critics.com
Despite stock exchanges celebrating the outcome of the German parliamentary vote, doubts remain among investors about the rescue fund and its prospects for containing the debt crisis. While the EFSF can easily handle the problems of Greece, Ireland and...
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US investment in Ireland accelerates
Irish Times
Mr Quinlan praised Ireland for the adjustment the country had made in the wake of thefinancial crisis and subsequent bailout of the Irish banking system. He said he was confident the EU would stay intact and the euro zone would survive the current ...
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A financial twister
Manila Standard Today
Today, the cause of the panic may be the debt crisis in Europe. This time around, it is not just private financial companies that may go under. Even developed states such asGreece, Portugal and Ireland face the possibility of bankruptcy. ...
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Can You Afford Not to Own Gold?
Motley Fool
While you can effectively argue that years of reactive intervention have prolonged the status quo and forestalled a calamitous crash, can any well-informed and reasonable individual say with confidence that another stage of the global financial crisis ...
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Resistance is not futile
Morning Star Online
Europe is not going to change. However, the European Union most certainly is. The trials and tribulations of the eurozone need no detailed repetition here. You would have to be deaf not to hear the reverberations of the Greek financial crisis. ...
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Further austerity 'self-defeating' says Ernst & Young
PublicServiceEurope.com
The debt crisis is "likely to worsen further" with a Greek default inevitable, the autumn forecast warns. It recommends that theEuropean Central Bank cut interest rates "aggressively" to stimulate growth. Growth of gross domestic product in the ...
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PublicServiceEurope.com
Italy's interest rates jump while public deficit climbs
AFP
Italy has an enormous debt of over 1.9 trillion euros, which comes to around 120 percent of the country's output. Investors panicked this summer when they feared the eurozone debt crisis would spread, selling off Italian debt. The European Central Bank ...
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AFP
Belgium about to reconnect with the EMU core
FXstreet.com
Due to the financial and economic crisis the debt ratio rose between 2007 and 2009 by 12%-points to 96% and stabilized in 2010. According to theEU spring forecasts, the ratio will be close to unchanged in 2011 and will start declining in 2012 ...
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FXstreet.com
Tokyo stocks close 0.99% higher
The Asian Age
While the vote is expected to pass in Germany, apparent discord and dithering amongEurope's leaders on how to contain the debt crisis has continued to unnerve markets. "The market theme is likely to shift from bailing out Greece to how to contain the ...
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Tighten your belts: a history of austerity
ABC Online
Because Britain, Spain, Italy, Portugal, Ireland, the United States are all countries infinancial crisis, just to name a few. And overwhelmingly, the solution presented to them is to take on austerity measures. But where does this idea come from, ...
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Dutch Disease - lead us not to temptation
Malta Business Weekly
German investor confidence slumped in August for the sixth month running to levels last seen in late 2008 on worries about the euro zone debt crisis and weak prospects foreconomic growth according to the ZEW indicator. ...
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Top EU official urges more integration
BusinessWeek
Fears the eurozone's third and fourth largest economy may get sucked into Europe'sdebt crisis had stoked fears they would lose access to market funding and be forced into requesting bailouts, like Greece, Ireland and Portugal already have. ...
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Structured comeback?
Structured Credit Investor (subscription)
As nations struggle to tackle the Eurozone debt crisis, a fresh call has been made forEuropean governments to consider structured finance solutions. An alternative option of a European version of TARP is also on the cards. ...
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France to slash budget for first time since World War II as it tries to reel ...
Washington Post
... discusses the outlook for the euro, the sovereign debt crisis and European Central Bank monetary policy. Paris was not alone in ignoring the spending rules, and the result has nearly brought the eurozone to its knees: Ireland, Portugal and Greece ...
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Review: Lewis' 'Boomerang' tracks financial contagion around the world
San Jose Mercury News
The book could not be more timely, given the worries about Europe's deepening debtcrisis and the recent warning issued by Christine Lagarde, managing director of the IMF, that "the current economic situation is entering a dangerous phase. ...
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Imploding Bubble Economies
The People's Voice
The creators of the EU, euro zone, and ECB have a failing monstrosity on their hands," an out-of-control debt bomb. "There is absolutely no way a financial crisis can be avoided," and it's already been unfolding since 2008. No combination of countries ...
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Opinions and News on the Eurozone Crisis, No. - American Future
By Marc Schulman
Satyajitit Das, “Supercharged eurozone fund won't solve crisis” — A negative take on using leverage to increase the size of the European Financial Stability Facility (EFSF) to enable it to be better able to reduce contagion risks. The author, drawing an analogy with... After existing commitments to GreeceIreland and Portugal, its theoretical resources are at best about €250bn, assuming that the increase to €440bn is ratified by Europeanparliaments. The EFSF must borrow money from ...
AMERICAN FUTURE
Merkel's coalition holds, passes euro bailout - The Local
The Local: Germany's news in English. Trader XP. “You can ... Merkel's Christian Democratic Union (CDU) governs Germany in coalition with the Free Democratic Party (FDP) in a fraught coalition that has come under increasing pressure over its handling of the eurozone crisis. But Merkel got four ... Both countries have seen anti-EU sentiment rise significantly as the strain of successive bailouts for GreeceIreland and Portugalweighs on voters and taxpayers. "We are confident we can ...
The Local - Germany's news in English
Germany Approves Expanded European Bailout Fund | FDL News ...
By David Dayen
The Germans were the latest member nation to approve an increase to the EuropeanFinancial Stability Fund, which was established in the wake of the 2008 financial crisis. All 17 eurozone countries need to vote before the proposed changes ...
Firedoglake
German Parliament Supports EFSF Expansion Newspaper ...
By TheFreshOutlook
This led to EU-IMF bailouts for GreeceIreland and Portugal. However, the scale of theGreek debt crisis has meant the country needs extra assistance from its EU partners. Fears have also risen over the deficits of larger EU states, such as Italy ...
Newspaper - responsible coverage...
Eurozone crisis: live blog | The World | International affairs blog from ...
By FT
German politicians voted to approve the expansion of the powers of the eurozone'sbailout fund, the EFSF, with chancellor Angela Merkel winning a large majority – despite a rebellion by 15 government backbenchers; Greece's international debt ..... He had changed his mind, he said, because since then countries such as IrelandPortugal and Spain had demonstrated that under the pressure of the crisis measures, all had taken drastic measures to improve their government finances. ...
The World
Debt crisis: live - Telegraph
Markets wary as German parliament votes in favour of expanding eurozone ... by bailing out Greece, could humiliate her in a parliament vote on euro-zone rescue schemes.Europe Wrestles With Debt Crisis... a Lego shark chomps down on a Lego ... France,Greece, Ireland, Italy, Luxembourg, Portugal, Spain and Slovenia . ...
www.telegraph.co.uk/finance/.../8782663/Debt-crisis-live.html
Uncertainty Plagues Euro Zone as Crisis Rages On
Attempting to decipher what will happen next in the euro zone crisis following the ...“Although Portugal and Ireland might be left to fend for themselves, ...
www.cnbc.com/id/44667180
European debt crisis is 'biggest challenge in EU's history' warns EC ...
MailOnline - news, sport, celebrity, science and health stories ... to fight a debt crisisthat has already seen Greece, Ireland and Portugal seek bailouts. ... As well as theeurozone crisis, the wider EU is dealing with problems affecting its ... The 440billioneuro fund available from the European Financial Stability Facility has not ...
www.dailymail.co.uk/.../European-debt-crisis-biggest-challeng...
European debt crisis: Finland approves new rescue powers - Live ...
Reports of a split in the eurozone over Greece's second bailout have raised .... Thefinancial crisis that broke upon the world in August 2007 has entered a new and, .....European situation in Portugal's parliament, voicing what everyone suspects, ..... to wait for votes in France and Ireland until we ratified an act of Parliament? ...
www.guardian.co.uk/.../european-debt-crisis-greek-bailout
Juncker admits EU crisis response was too slow | euronews, world ...
world news - The blame game over Greece was played out on Tuesday at theEuropean ... the head of the euro zone finance ministers President Jean-Claude Juncker… ... Greece, Ireland and Portugal do not have that problems they have because they are ... The financial markets should respect the rules of democracy. ” ...
www.euronews.net/.../juncker-admits-eu-crisis-response-was-t...
The Street Light: What Really Caused the Eurozone Crisis? (Part 1)
(Note: by the "EZ periphery" I mean Greece, Portugal, Ireland, and maybe Spain. ...euro and before the worldwide financial crisis and recession struck in 2008. ...
streetlightblog.blogspot.com/.../what-really-caused-eurozone-c...
CBC.ca News - Top EU official urges more political integration
As well as facing a crisis in the eurozone, the wider EU is dealing with ... in theFinancial Times that as many as seven of the eurozone's 17 members want the banks to ... into requesting bailouts, like Greece, Ireland and Portugal already have. ...
www.cbc.ca/m/rich/business/story/.../euro-zone-financial.html
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 potentially Greece. ... has urged European governments to use "overwhelming force" to tackle the crisis . ...
news.sky.com/home/business/article/16070599
Opinions and News on the Eurozone Crisis, No. - American Future
Satyajitit Das, “Supercharged eurozone fund won't solve crisis” — A negative take on ...the size of the European Financial Stability Facility (EFSF) to enable it to be ... After existing commitments to Greece, Ireland and Portugal, its theoretical ...
www.americanfuture.net/.../opinions-and-news-on-the-eurozo...
Euro crisis 'scaring the world' - The Irish Times - Mon, Sep 26, 2011
"So they are going through a financial crisis that is scaring the world and they are ...Meanwhile Euro zone officials were tonight working on ways to magnify the financial ...in decision-making on financial assistance to Greece, Ireland and Portugal. ... EUcompetition commissioner Joaquin Almunia today said European ...
www.irishtimes.com/newspaper/breaking/.../breaking1.html

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