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Oct 6, 2011

EUROZONE Crisis News, Oct 06, 2011

Euro crisis: a torrent of words, but no clarity
BBC News
Having a ringside seat at the eurozone crisis is to witness a torrent of daily comment about Europe and its troubled currency. National leaders, unelected commissioners, IMF officials, the European commentariat can't stop talking. ...
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Jean-Claude Trichet: the eurozone crisis in quotes
Telegraph.co.uk
Jean-Claude Trichet, who leaves as European Central Bank President this month, has been vocal about the role of the central bank as the eurozone debt crisis has escalated. Here are some of his recent quotes: Jean-Claude Trichet: 'To be in denial of the ...
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Telegraph.co.uk
IMF: Euro-Zone Crisis Effects Spreading; Recession Can't Be Ruled Out
Wall Street Journal
BRUSSELS (DOW JONES)--The effects of the euro-zone debt crisis are spreading to the core countries, banks and investors, and another economic recession can't be ruled out, the International Monetary Fund said in a report Wednesday. ...
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Eurozone crisis: Live blog
Financial Times (blog)
Photo: Reuters 14.20: Interesting - Antonio Borges, European head of the International Monetary Fund, said today that the IMF could buy Spanish or Italian bonds alongside the eurozone rescue fund (the EFSF) if needed. According to Reuters, Mr Borges ...
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Financial Times (blog)
France's AAA Rating Is A Fragile Linchpin In Euro Zone Crisis Plan
Wall Street Journal
BT) and a sudden downgrade of Italy's sovereign debt rating have shined a spotlight on a major risk to the euro zone's effort to avert financial disaster: the prospect that France could lose its triple-A credit rating. If France is downgraded, the euro ...
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Ireland stakes claim to eurozone rescue fund
Financial Times
The European Union should also introduce eurobonds to tackle the eurozone crisisbut steer clear of reform that would require fundamental changes to the EU treaties, Eamon Gilmore said in an interview with the Financial Times. ...
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Financial Times
Collier Says Euro Zone Is `So Close' to Banking Crisis
Washington Post
Oct. 6 (Bloomberg) -- Irwin Collier, a professor at Berlin's Free University, discusses the euro-zonebanking industry and European Central Bank monetary policy. He speaks in Berlin with Francine Lacqua on Bloomberg Television's "The Pulse. ...
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Airbus sees no impact on orders from euro zone debt crisis
Reuters
By Michael Smith SYDNEY, Oct 6 (Reuters) - European aircraft maker Airbus said it may help customers with aircraft financing if the euro debt crisis makes it necessary as concerns grow aboutEuropean banks' ability to fund increasing plane orders. ...
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How is the Euro zone debt crisis affecting sterling?
Malta Business Weekly
With rumours already brewing that there were potential divisions in the ECB, many started to suspect that euro zone policy makers had run dry on solutions to solve the crisis. With Greece's austerity measures producing no improvements and recent GDP ...
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Rebel Slovak party ups stakes on bailout fund vote
Reuters
Lawmakers in most euro zone states have ratified the plan agreed by policymakers in July to give a stronger mandate to the European Financial Stability Facility (EFSF), allowing it to recapitalise banks, buy government bonds and give credit to troubled ...
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SPECIAL REPORT-Europe's debilitating deja vu
Reuters
Another day, another crisis. Another week, another summit. Another deal, another setback. Theeuro zone crisis is now two years old. In October 2009, the newly elected government of George Papandreou announced that Greece's budget deficit was close to ...
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Eurozone Crisis: Will France and Germany Be Downgraded? [VIDEO]
International Business Times
By Cavan Sieczkowski | October 5, 2011 11:10 AM EDT Goldman Sachs Group Inc. has predicted recessions in France and Germany as the European debt crisisworsens. "The further deterioration in the economic and financial situation in the Euroarea has led ...
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International Business Times
Stocks surge on euro-zone hopes
The Australian
AUSTRALIAN shares leapt the most in almost three years as investor sentiment improved on renewed optimism a solution is close for the euro-zone debt crisis. The market opened more than one per cent stronger after Wall Street surged for its second ...
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Eurozone crisis: Italy downgraded
The Periscope Post
Indeed, European stock markets have rallied since the announcement. Who's next? Sam Fleming and Gary Parkinson reported for The Times (£) that Moody's has warned more eurozonegovernments faced the prospect of downgraded credit ratings. ...
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Curbing EU power 'to take years'
Evening Standard
William Hague today warned Tory Euro-sceptics that grabbing powers back from Brussels would take "many years". The Foreign Secretary said he wanted to see the EU's influence on the UK reduced but he would not exploit the euro zone crisis to hold a ...
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Evening Standard
Hong Kong stocks rally 5.67 per cent on hopes of Euro rescue plan
Monsters and Critics.com
Hong Kong - Hong Kong stocks rallied 5.67 per cent Thursday on hopes that European leaders will soon agree a plan to pull them out of the Eurozone crisis. The benchmark Hang Seng index gained 922.01 points to close at 17172.28. ...
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Emerging-Market Assets Bounce On Euro-Zone Hopes; Central Bank Moves
Wall Street Journal
By Erin McCarthy Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Renewed hopes for a resolution to the euro-zone sovereign-debt crisis lifted emerging-market assets Wednesday, with central bank action also helping some currencies climb higher. ...
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George Osborne claims derivatives trading victory
The Australian
Mr Osborne reiterated Britain's concern over the failure of the eurozone countries to convince markets that they had the capacity and will to tackle the Greek debt crisis and shore up the euro. Mr Osborne called on eurozone countries to recognise what ...
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Asian stocks close higher on euro zone hopes
Straits Times
Tokyo stocks opened up 1.58 per cent on Thursday after Wall Street made fresh gains on hopes that EU leaders were close to agreement on how to deal with the euro zonesovereign debt crisis. -- PHOTO: AFP Tokyo stocks closed 1.66 per cent higher on ...
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Straits Times
EURO GOVT-Peripheral CDS prices fall on crisis solution views
Reuters
LONDON Oct 6 (Reuters) - The cost of insuring peripheral euro zone debt against default fell on Thursday as signs that policymakers were prepared to tackle banking sector recapitalisations grew, easing some investor worries on the euro zone debt crisis ...
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BoE launches QE2 with 75 billion pound cash boost
Reuters
LONDON (Reuters) - The Bank of England voted on Thursday to buy 75 billion pounds ($115 billion) more in assets to shield Britain's economy from the euro zone debt crisis and keep the faltering recovery going. Thursday's decision to expand its asset ...
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Spain sells 4.5 bln euros in bonds, yields fall
Reuters
Italy and Spain, the euro zone's third- and fourth-largest economies, have been under the market microscope over the last two months amid concerns they would be too big to bail out if a worsening economic backdrop and contagion from default-threatened ...
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TREASURIES-Bonds steady in Asia, eye on ECB and its impact
Reuters
US Treasuries hardly budged in Asia on Thursday ahead of key events such as the EuropeanCentral Bank's policy meeting, after a dip the previous day when fears over the euro zone debt crisiseased slightly. * Treasury debt prices slid on Wednesday as ...
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Canada says it's Europe's decision time on Greece
Reuters
If Greece can't afford to repay, and it appears they can't afford to repay, then some sort of restructuring has to be negotiated with Greece so the euro zone can move on from this problem," he said. The Group of 20 need to put aside their differences ...
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Eurozone crisis: Live blog
FT.com (blog)
9.00: Whisper it very quietly but with all the talk of bank recapitalisation and new stress tests, the markets are starting to think that the European Union might just be starting to get to grips with the regional debt crisis. ...
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FT.com (blog)
Britain Data Reflects Euro Zone Economic Fallout
New York Times
By REUTERS LONDON — The British economy remains on the brink of recession despite a bounce in service-sector growth in September as consumers cut spending sharply and risks from the euro zone debt crisis loom, making more credit easing by the Bank of ...
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Euro-Zone Hopes Hit Pause Button On Treasurys Rally
Wall Street Journal
But the temperament changed quickly late Tuesday on a report that euro-zone finance ministers appeared to recognize that they haven't been doing enough to convince markets that Europe's banking system can withstand the debt crisis. ...
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PRECIOUS-Gold tracks equities higher ahead of ECB meet
Reuters
The euro was steady after Germany said it would help its own banks if necessary and opened the possibility of using a regional bailout fund to strengthen the euro zone banking system. Friday's US non-farm payrolls data will also be watched by investors ...
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GLOBAL MARKETS: European Stocks Soar; Banks Regain Losses
Wall Street Journal
"It appears the sharp deterioration in market sentiment has resulted in a collective resolve in an attempt to deal with the euro-zone crisis," said Brown Brothers Harriman. At 1140 GMT, the benchmark Stoxx Europe 600 index was up 1.9% at 221.62. ...
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Europe's Rescue Fund Is Only Last Resort: Merkel
Bloomberg
EU officials are working on plans to boost bank capital to contain the debt crisis, the International Monetary Fund said. “There is no secret at all that European authorities and the EuropeanCommission are all working together on a plan to bring more ...
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The 4 Trillion-Euro Fantasy
New York Times (blog)
Some officials and former officials are taking the view that a large fund of financial support for troubledeuro-zone nations could be decisive in stabilizing the situation. The headline numbers discussed are 2 trillion to 4 trillion euros — a large ...
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Australian Dollar Up Late, Back Above US$0.9600
Wall Street Journal
SYDNEY (Dow Jones)--The Australian dollar leapt higher for the second-straight day Thursday, boosted in part by possible moves from the International Monetary Fund to stem the Euro zone'sdebt crisis. As the focus in markets remained on Greece, ...
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Crisis confirms EU's lack of federal unity
The Miscellany News
The sovereign debt crisis, sparked by the 2008 banking meltdown and profligate spending on the periphery of the EU, most notably in countries such as Greece and Portugal, has imperiled the singleEuropean market made possible by the Schengen Agreement ...
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TREASURIES-Bonds dip as European moves undermine safety bid
Reuters
By Chris Reese NEW YORK, Oct 5 (Reuters) - US Treasury debt prices slid for a second day on Wednesday as investors pared safe-haven bond holdings after the IMF said it may invest in euro zone bonds and as traders bet on more stimulus from the US ...
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The Dollar - Up, Up and Away
Investment U
by Jason Jennkins, Investment U Research At the end of last week, the US dollar gained against theeuro due to the ever-present worries that EU leaders won't get their act together soon enough to fix their debt crisis. Concern in the market in regards ...
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BACKGROUND: Euro 2012, economy key issues in Polish election
Monsters and Critics.com
They argue that Poland should take a greater role in the EU debate on the eurozone crisis, even though it has not yet adopted the euro currency. Relations with Moscow grew strained after last year's plane crash in Smolensk, which killed then President ...
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EURO GOVT-Bunds fall on bank support talk, lag periphery
Reuters
By William James LONDON, Oct 5 (Reuters) - Bund futures slid on Wednesday after signs that euro zone policymakers were gearing up to recapitalise the region's banks prompted a rebound in battered banking stocks, but demand for German debt was unlikely ...
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Edward McMillan-Scott: Forget the Tory sceptics and focus on real euro issue
Yorkshire Post
Sadly, it will get the biggest cheer, In assorted media activities, Cameron has focussed on what is a real dilemma for himself and George Osborne: the eurozone crisis. The euro dilemma – wanting it to succeed yet not wanting to be part of a successful ...
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Asian stocks join global relief rally
Sydney Morning Herald
Asian shares rose on Thursday, as optimism over Europe's efforts to aid the euro zone's financial sector and US data suggesting the economy could avoid recession spurred short-covering and value-hunting. An easing of risk aversion, after an intensive ...
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Currency Markets Still Focused on EU Debt Crisis, Slowing Global Recovery
DailyFX
Mirroring the familiar dynamic established over recent weeks, this puts the spotlight once again on the evolution of the Euro Zone debt crisis as well as US economic data as sovereign risk and economic growth fears continue to guide sentiment across ...
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Embattled Dexia Just the Tip of the Iceberg?
CNBC.com
Weinberg warned that there was no resolution to the financial crisis in the euro zone that does not increase the fiscal deficits of its countries. “There is no resolution of Euroland's financial crisis that does not further depress economic growth any ...
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Hungary: the cost of Viktor Orban
Financial Times (blog)
While the eurozone crisis is partly responsible for the HUF's travails, it's not the whole story. The forint is down 9 per cent in a month, compared to a 5 per cent drop in the Polish zloty and 2 per cent in the Czech crown. And it may have further to ...
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Financial Times (blog)
Opinions and News on the Eurozone Crisis, No. 19 - American Future
By Marc Schulman
Matthew Dalton & David Enrich, “Europe Races to Stem Crisis” — Euro-zone governments suffered a blow Tuesday in their efforts to contain a deepening sovereign debt crisis as one of the Continent's biggest banks, dogged by fears about its ...
AMERICAN FUTURE
Special Report: A fight for the soul of the ECB (Reuters) | Sports ...
By Blog495
But the euro-zone crisis pushed him over the edge. People who know ... The news that he would step down from the central bank's six-member executive board, nearly three years before his term was up, rocked global markets. Stark is someone ... “The entire financial and monetary policy in Europe at the moment is completely at odds with the professional beliefs Stark built up over the past 30 years,” said one senior euro zone official who is privy to ECB deliberations. Under Trichet ...
Sports, News, Entertainment,...
Commentary on the European financial crisis : No way out for ...
By Fight Back
The crisis began in Greece, but has since spread to Portugal, Ireland, Spain, and now Italy. With big German and French banks set to lose billions, and perhaps even fail if Greece or another euro zonecountry defaults on the its government ...
Fight Back! - News and Views...
XE.com - CEE MONEY-Celebration or time-bomb? A tale of two ...
News Providers: Thompson Financial, AP, XFN-Asia, Daily FX, Reuters Date format: yyyy-mm-dd. Refresh Articles. CEE MONEY-Celebration or time-bomb? A tale of two ... Ahead of national elections this weekend, the two neatly encapsulate a national mood of optimism seasoned with anxiety as voters weigh Tusk's pro-growth approach and a deepening euro zone crisis on Poland's borders. The largest economy in the EU's eastern wing has notched up economic growth averaging...
XE Forex News
NewsDaily: As Europe bank recap talk builds, who needs it?
By Steve Slater
Banks in France, Italy and across Europe are under renewed scrutiny for signs they will follow Dexia and need state help as policymakers talk up the need to raise capital to halt a euro zone crisis. ...The bailout of Belgian-French bank Dexia has intensified pressure to improve bank solvency, in a bid to break a vicious circle of negative news from indebted governments and troubled banks feeding on each other. "Solving the sovereign crisis today is unrealistic because we are in the ...
NewsDaily: Business Headlines
Jean-Claude Trichet: the eurozone crisis in ... - Market News, Analysis
By marketmaker
Home - Bullfax.com - Market News, Analysis ... Jean-Claude Trichet, who leaves as EuropeanCentral Bank President this month, has been vocal about the role of the central bank as the eurozonedebt crisis has escalated. Here are some of ...
Bullfax.com - Market News & Analysis
NewsDaily: Special Report: Europe's debilitating deja vu
By Luke Baker, Paul Taylor and Dina Kyriakidou
NewsDaily: Your best source for breaking news ... Where a sovereign government can take swift action, the euro zone countries have held a series of meetings -- 18 so far -- without ending the crisis. Every twist and turn required tortuous ...
NewsDaily: Top Headlines
Dailymotion - Obama: Euro zone crisis is "scaring the world" - a ...
U.S. President Barack Obama said on Monday the debt crisis in Europe was ...
www.dailymotion.com/.../xlca5n_obama-euro-zone-crisis-is-sc...

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