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Oct 1, 2011

EUROZONE Crisis News, Oct 01, 2011


The Eurozone crisis
Stabroek News
Despite his plainspoken manner and apparent ignorance of the details, Mr Rastani is essentially correct about the European Union's response to the crisis. The globalfinancial system is relentless when investors lose confidence in a government, ...
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Mosler: Greek Default Not Logical Path Out of Crisis
NewsMax.com
Furthermore, the logic that applies to keeping Greece in the eurozone applies to the other nations such as Italy. "It used to be if Germany, France and the others bailed outGreece, and then suddenly they have to bail out IrelandPortugal, ...
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Week Ahead: US Jobs and European Debt on Tap
CBS MoneyWatch.com (blog)
Italy owes as much money as Spain, Greece, Portugal and Ireland combined and has the second-highest debt-to-GDP ratio in the euro zone, after Greece. Europe is definitely going to need a bigger boat. Finally, there's the problem of the Europeanbanks, ...
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Some perspectives of the ensuing global economic crisis
The Citizen Daily
The Euro zone economic crisis is caused by massive sovereign debts in some of its member countries. The countries include the PIIGS family of countries that includePortugal, Italy, Ireland, Greece and Spain. Of these, Greece is the weakest link and...
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Fund managers see bleak outlook for European crisis
San Antonio Express
Mutual fund managers who invest abroad say the key reason is that Greece's struggle isn't the only crisis the European Union faces. It's merely the most imminent one, and a default could ripple throughout European banks. Spain, Portugal, Italy and ...
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Silver prices may decline to $25-23 on industrial contraction
Commodity Online
Gold prices are likely to see small correction on fear of a banking crisis in the Euro zone that may cause liquidity crunch. However, gold remains attractive for long term investment. Owing to weak demand outlook due to global economic slowdown, ...
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Barroso's crucial eurozone gamble
Irish Examiner
The EC has had to cope with global meltdown and, more recently, with the sovereign debt crisis and the enforced bailouts of Greece, Ireland and Portugal. Barroso and his comrade in arms, the Finn, Olli Rehn, have worked to ease the stringent financial ...
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ECB Could Survive a Greek Default, but What About the Banks?
New York Times
Stress in the interbank lending market is already an “indication that the crisis has moved into systemic mode,” Mr. Peruzzo said. Crippled banks are also likely to leave the ECB holding collateral with little value, but since it accepts all collateral ...
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Scott Gardner: Europe's Debt Crisis and Its Effect on Gold
Jutia Group
Also, the European Central Bank (ECB) itself only has €10B. If you compare that to the three largest banks in France, for example, they own roughly $600B in PIGS (Portugal,Ireland, Greece, and Spain)-related debt. You can see how imbalanced the system ...
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Watch these 3 key business items in 4th the quarter
Utica Observer Dispatch
Similar fears have since engulfed Ireland and Portugal and now threaten the far larger economies of Spain and Italy. The European Union is trying to halt the contagion once and for all via a $600 billion bailout fund known as the European Financial ...
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20reasons to be (a little) more optimisticBy George Garvey
Irish Independent
They are now the Irish tourism industry's secret weapon, as we can now offer overseas visitors four and five-star luxury rooms for not much more than B&B rates. The never-ending euro crisis is also beginning to work to our advantage. ...
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The Tory swagger is no help to a struggling, fearful land
The Guardian
Greece - the Eurozone - the shit-happens world may indeed be what takes us back into recession. Marxist Barosso's dumb-as-hell dreams of afinancial transactions tax to prop up the European "project" may do so: on the EU's own figures such a tax might ...
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The Guardian
The Fourth Reich Is Here
theTrumpet.com
In that article “Rise of the Fourth Reich, how Germany is using the financial crisis to conquer Europe,” Simon Heffer wrote this: “Greece, Ireland and Portugal are economic basket cases. We have heard more and more about the trouble in Spain, ...
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A fast track to euro stability
Khaleej Times
At this writing, for example, the German Bundestag is in a fight to the finish over a solution to the economic crisis that has already been overtaken by events. It has been clear for some time that the crisis has moved far beyond the flawed Greek ...
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Resolving The Europe Crisis Will Require Genuine Europeans
Seeking Alpha
The many solutions proposed for the euro crisis now comprise three schools of thought: those that favor continuing with bailouts as in Greece, Ireland, and Portugal, without big institutional changes; those that would buy up or guarantee the debt ...
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On The New Phase of the Crisis
Wall Street Journal (blog)
Very soon these countries may need to spend a considerable amount of budget on recapitalization of European banks. Besides, big lending to peripheral Eurozonecountries, such as Greece, Ireland, Portugal, will lead to the rise of unsecured social...
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Scott Gardner: Europe's Debt Crisis and Gold
Business Insider
Also, the European Central Bank (ECB) itself only has €10B. If you compare that to the three largest banks in France, for example, they own roughly $600B in PIGS (Portugal,Ireland, Greece, and Spain)-related debt. You can see how imbalanced the system ...
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The Eurozone crisis - Stabroek News - Guyana
By Stabroek staff
Alessio Rastani, the trader, dispensed with the usual niceties and bluntly warned the newsreader interviewing him, that a political solution to the Greek debt crisis – and related crises in Spain and Italy – wasn't going to work. ... If Greece withdraws from theeuro and returns to a heavily devalued drachma its debts will be harder to pay – and other heavily indebted countries, a group sometimes referred to as PIIGS (Portugal, Italy,IrelandGreece and Spain), will immediately face a ...
Stabroek News
Debt crisis: as it happened - September 29, 2011
While exposure to Greece, Ireland and Portugal is modest, inclusion of Spain ...states (the European Council) over what to do about the eurozone crisis. ...
www.telegraph.co.uk/finance/.../8798314/Debt-crisis-live.html
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...
Multi-trillion plan to save the eurozone being prepared - Telegraph
... that the eurozone's sovereign debt crisis is spiralling out of control. Their aim is to build a “firebreak” around Greece, Portugal and Ireland to prevent the crisis ...
www.telegraph.co.uk/.../Multi-trillion-plan-to-save-the-eurozo...
Juncker admits EU crisis response was too slow | euronews, world ...
world news - The blame game over Greece was played out on Tuesday at the ... Crucial week in euro zone debt crisis 26/09/2011 21:10 ...
www.euronews.net/.../juncker-admits-eu-crisis-response-was-t...
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...
The Street Light: What Really Caused the Eurozone Crisis? (Part 1)
(Note: by the "EZ periphery" I mean Greece, Portugal, Ireland, and maybe Spain. ...For example, suppose that the adoption of the euro suddenly made it more attractive ...As a result, financial crisis may be largely outside the control of a country that's on the receiving end of a capital flow bonanza. ..... News: Economy News ...
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
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 trying to ... Meanwhile Euro zone officials were tonight working on ways to magnify the... Europe came under fierce pressure from the United States and other major ... in decision-making on financial assistance to Greece, Ireland and Portugal. ...
www.irishtimes.com/newspaper/breaking/.../breaking1.html
Greece will remain in eurozone - Barroso - RTÉ News
One News: Fresh divisions over Greek debt crisis ... Mr Barroso called for a financialtransactions tax, saying the financial services ... Irish bonds have outperformed those of Greece and Portugal - the two other ... move by European governments to end theEurozone crisis, and Irish bonds have also benefited from this move. ...
www.rte.ie/news/2011/0928/eueconomy.html
European debt crisis – Wednesday 28 September 2011 | Business ...
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-bailo

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