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Oct 19, 2011

EUROZONE Crisis News, Oct 19, 2011

There is no sunlit future for the euro
Globe and Mail
The euro zone's crisis will be solved at the European Union's summit this Sunday. So participants at last Saturday's meeting of finance ministers of the group of 20 leading advanced and emerging economies have suggested. Will such hopes be vindicated? ...
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METALS-LME copper falls, euro-zone crisis dims demand outlook
Reuters Africa
Copper down 1.1 pct on LME, up 0.4 pct on Shanghai Exchange * Boost to euro-zone rescue fund supports markets * Moody's cuts Spain's ratings, puts French banks on watch * Coming Up: US CPI for September; 1230 GMT (Updates prices, adds quotes and ...
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Next Port of Call for Crisis in Euro Zone
Wall Street Journal
But those strengths may not be enough to withstand the biggest current threat: euro-zone politics and the handling of Greece's debt crisis. A Greek debt restructuring could lead to calls for a similar solution to be applied elsewhere in the euro zone. ...
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Wall Street Journal
Contagion inevitable if EU crisis spreads to banks: Gordhan
Reuters Africa
Emerging market economies have been hard hit by Europe's debt crisis. South Africa's rand has been rendered extremely volatile by the uncertainty over the euro zone crisisand Gordhan has said government is at a loss about how to stabilise the currency ...
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Reuters Africa
* EU reaches deal on law to ban naked sovereign CDS
Reuters
By Julien Toyer BRUSSELS, Oct 18 (Reuters) - The European Union agreed on Tuesday to ban "naked" credit default swaps (CDS) on sovereign debt in an attempt to curb what some policymakers see as hedge fund bets on the euro zone crisis. ...
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Sarkozy raises stakes ahead of eurozone summit
European Voice
In comments aimed at increasing the pressure on EU leaders to come up with an ambitious deal to stem the eurozone crisis at a summit on Sunday (23 October), Sarkozy said: “Allowing the destruction of the euro is to take the risk of the destruction of ...
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All aboard the eurozone train to hell
Management Today
With the EU Summit just days away, debate over possible solutions to the eurozone crisis is hotting up. Cue euro-sceptic rant from London Mayor Boris Johnson. In response to George Osborne's pronouncement that the only solution to the current crisis is ...
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Euro crisis to smother growth in eastern Europe
EUobserver.com
"Until the resolution of the eurozone crisis, a period of continued market instability, constrained credit as well as the resulting near standstill in western Europe is expected to seriously affect the outlook for the [eastern European] region. ...
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Spain downgrade ups pressure on EU to act
Reuters
By Luke Baker and Elisabeth O'Leary BRUSSELS/MADRID (Reuters) - A double-notch downgrade of Spain's credit rating has piled pressure on European leaders to make decisive progress on solving the region's debt crisis at an October 23 summit. ...
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Reuters
EU Trade chief-Crisis response "too little, too late"
Reuters
In an unusually forthright and critical speech on lessons to be drawn from the debt crisis, EuropeanTrade Commissioner Karel De Gucht slammed political dithering and failure to enforce euro zonerules, urging governments to act as one. ...
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Sensex opens higher on Euro Zone hopes; Hero MotoCorp gains most
NDTV.com
reports that France and Germany have agreed to expand a rescue fund for solution of Euro Zone crisis. While Sensex was trading 182 points higher, NIfty rose by 54 points at 9:40 am . The earnings season also made sentiments bullish with Hero MotoCorp ...
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Euro Zone Negotiations Are Model For US Political Compromise
PolicyMic
The fact that the EU is more capable than the US of implementing aggressive policy solutions is a reflection of key differences in the current political climate between the two entities. Two factors direct the response to the euro zone crisis. ...
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Eurozone crisis could cause collapse of global banking system, warns ...
Telegraph.co.uk
The world banking system could collapse if eurozone leaders fail to curb the region's sovereign debt crisis, according to Citigroup's chief economist Willem Buiter. By Angela Monaghan "If things get out of hand in the euro area, no bank in the ...
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Telegraph.co.uk
David Cameron told by Berlin: drop demands for repatriation of powers
The Guardian
Wolfgang Schäuble, the German finance minister, has indicated that Britain should not be demanding the repatriation of powers from Brussels during the eurozone crisis. Photograph: Geoff Caddick/AFP/Getty Images One of Europe's most significant ...
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The Guardian
EU financial crisis to be over by next year: Swedish Foreign Minister Carl Bildt
Economic Times
Leaders from the euro-zone are meeting on October 23 to discuss further aid for the troubled Greek economy. On long does he expect the euro-zone to continue to be under pressure, and if there are any chances of coming out of the crisis soon, ...
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TREASURIES-Prices drop on report of euro zone fund boost
Reuters
By Walter Brandimarte NEW YORK, Oct 18 (Reuters) - US Treasury debt prices ended lower on Tuesday, reversing earlier gains, as renewed optimism about a solution to the euro zone debt crisistriggered a rally on Wall Street. ...
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EU Source: No EFSF Deal Til Friday, EUR2 Trillion Number 'Simplistic'
Wall Street Journal
European officials are working toward resolving the euro zone crisis and will be meeting over the weekend. A report in the Guardian newspaper suggested the EUR440 billion European Financial Stability Facility could be levered up to increase its ...
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Concern in Brussels over crisis summit on Euro
Irish Times
France is the second largest euro zone economy. The move by Moody's underscored how the debtcrisis is now casting doubt on the standing of supposedly secure countries. In spite of the heightened sense of risk, German and other euro zone sources said ...
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Boris Johnson warns against fiscal integration in the eurozone
The Guardian
That does not necessarily mean that I agree with everything Europe, the [European] commission, says or does. "Indeed, the great thing we can't talk about, well why not, I think it is absolutely crazy to decide that the answer to the euro crisis is to ...
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The Guardian
ECB's top economist warns on euro zone's future
euronews
http://www.euronews.net/ The European Central Bank's outgoing chief economist says another euro zone debt crisis can be averted, but only if states surrender some sovereignty over their budgets. Jürgen Stark told euronews: "We cannot go on running high ...
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EU: No "piecemeal" action on euro while G20 is watching
Monsters and Critics.com
Brussels - Taking 'piecemeal' action on the eurozone crisis would let down international partners, the European Union's executive warned on Tuesday - one day after German officials played down expectations that a summit Sunday would take definitive ...
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Mass strike to close down Greece
BBC News
Eurozone ministers were worried that if Greece was to default there would be a risk of contagion to other economies. They hope the package will resolve Greece's debt crisisand shore up the euro. Legislators are voting on two bills on Wednesday and ...
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BBC News
Europe returns to haunt yet another Conservative leader
Telegraph.co.uk (blog)
The slow implosion of the European project now dominates the political landscape. The crisis in theeurozone is putting immense strain on the Coalition. Inside the Treasury, the inability of EU leaders to get out of the mess is considered the single ...
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FTSE hit by China worries, fading euro zone hopes
Reuters
By Tricia Wright LONDON, Oct 18 (Reuters) - Britain's top share index fell on Tuesday, with banks and miners leading a broad-based sell-off, as revived concern over the euro zone debt crisis was compounded by Chinese data which raised fears about ...
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EU: Portugal Budget 'Bold'; Need Comprehensive Crisis Solution
Wall Street Journal
And ahead of a meeting of European finance ministers and heads of state this weekend, Altafaj Tardio said a comprehensive, all-encompassing response to the euro-zone's debt and banking crisiswas needed, rather than a piecemeal approach. ...
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Gold falls on euro zone worries, China slowdown
IBNLive.com
The warning came ahead of a crucial EU summit, which German leaders said would not yield a miracle cure for the region's debt crisis. Also weighing on gold was news that China's growth slowed in the third quarter to its weakest in more than two years. ...
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FTSE live: market report - as it happened October 18, 2011
Telegraph.co.uk
France and Germany are the two strongest economies among the 17 euro zonemembers, and they are spearheading a plan to be presented at an EU summit on Sunday to help resolve the region's debt crisis. China's economic expansion slowed in the third ...
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Telegraph.co.uk
Buba's Dombret: Public Funds Alone Can't Resolve Crisis
NASDAQ
Euro-zone policy makers and government heads face pressure to hatch a plan to address the currency block's ongoing debt and banking crisis in the coming weeks. The pending plans could include measures to recapitalize euro-zone banks, restructure Greek ...
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US STOCKS-Wall St surges into close on euro zone hopes
Reuters
All three major indexes rose sharply after a Britain's Guardian newspaper said France and Germany will increase the euro zone's rescue fund to 2 trillion euros as part of a plan to resolve the sovereign debt crisis. Investors and buyers piled into ...
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TREASURIES-US 10-yr note futures dip, eyes on Europe
Reuters
SINGAPORE Oct 19 (Reuters) - The US 10-year Treasury note futures inched lower in Asia on Wednesday in light trade, as investors awaited details on possible European measures to ease theeuro zone's sovereign debt crisis. * Ten-year note futures dipped ...
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Forex - EUR/USD Remains Lower Amid Euro Zone Fears
Daily Markets
By Forexpros on October 18, 2011 | More Posts By Forexpros | Author's Website Forexpros – Theeuro remained weaker against the US dollar on Tuesday, as growing doubts about finding a comprehensive solution to the euro zone debt crisis at an upcoming ...
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European Shares Rally on Rescue Fund Hopes
Fox Business
The pan-European benchmark is up more than 13 percent from a September low on growing optimism that policymakers would act to tackle the euro zone debt crisis but it is down more than 13 percent in 2011. Apart from the euro zone crisis, investors have ...
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EURO GOVT-Bunds slip on EFSF deal report, volatility seen high
Reuters
Trading was expected to remain volatile and driven by swings in sentiment over whether policymakers will reach a deal to draw a line under the euro zone crisis at an EU summit this weekend, analysts said. Ten-year German yields were likely to end up ...
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Opinions and News on the Eurozone Crisis, No. - American Future
By Marc Schulman
Opinions and News on the Eurozone Crisis, No. 25. Another in a seemingly endless string of moments of truth will unfold this coming weekend when European Union leaders gather for what the Financial Times describes as a “crucial summit.” ...
AMERICAN FUTURE
euro zone crisis: Strike Shuts Down Greece Before Austerity Vote ...
Greek unions began a 48-hour general strike on Wednesday, the biggest protest in years, as parliament prepares to vote on sweeping new austerity measures designed to stave off a default that could trigger a crisis in the wider euro zone. ... Winds from Europe Stronger Than Earnings News? Apple Misses Big on Earnings, Revenue; Shares Tumble · Goldman Loss Offers a Bad Omen for Wall Street · EU Reaches Deal on Naked CDS Ban Law · Murdochs' Infighting Clouds Future of ...
CNBC Top News and Analysis
XE.com - UPDATE 1-Contagion inevitable if EU crisis spreads to ...
Search for a news provider, date, or keywords. ... South Africa's rand has been rendered extremely volatile by the uncertainty over the euro zone crisis and Gordhan has said government is at a loss about how to stabilise the currency. ...
XE Forex News
Markets rise on euro debt hopes: European debt crisis — Clearing ...
By RSS Feed
Their task is to recapitalise the Eurozone's banks, establish a firewall to protect other Eurozonesovereigns from an inevitable Greek default, and agree writedowns on Greek debt. With talk that 30Eurozone banks could need new injections of capital, it should be a busy week. 7.52am: The big ...All the news on bank recapitalisation, and the Eurozone talks to resolve the crisis. 8.47am: Rising markets are bringing cheer to equity investors. But consumers will also be paying at the pumps ...
Clearing and Settlement — Clearing...
EU Source: No EFSF Deal Til Friday, EUR2T Number 'Simplistic ...
By From efxnews.com
European officials are working toward resolving the euro zone crisis and will be meeting over the weekend. A report in the Guardian newspaper suggested the EUR440 billion European Financial Stability Facility could be levered up to ...
Forex Factory
Can we avoid disaster in the eurozone? – Telegraph Blogs
By Neil O'Brien
Martin Wolf has a bleak column in the FT today entitled "There is no sunlit future for the euro". He argues that even if the Eurozone's leaders can fudge their way through the current crisis, the fundamental problems of a one-size all interest rate ...
News
Spain downgrade puts pressure on EU to act | Currency News
By Toby
The MPC led by Governor Mervyn King said strains with the Euro zone debt crisis provided a 'compelling' case to increase QE. “Heightened awareness of the vulnerabilities associated with the indebtedness of several euro-area governments ...
Currency News
Forex - EUR/JPY advances on EU summit optimism By Forexpros
By Forexpros
2011-10-19 09:37:13 GMT (Forexpros). Add News to Your Site · Tweet. 0. Votes. View Comments (0). Previous News | Next News. Text Size. Print. Add a Comment. Forexpros – The euro was up against the yen on Wednesday, rising to a two- day high boosted by hopes that European leaders will make a breakthrough on tackling the euro zone's debt crisis at this weekend's European Union summit. EUR/JPY hit 106.44 during European morning trade, the pair's highest since Monday; ...
Forex Pros RSS News Feed | Forex News
NST – Gloom over plan to solve EU debt crisis | PERDANA ONLINE
By Izyan Mohamad
In July, with bond market contagion spreading for the first time to Italy, the eurozone's third biggest economy, leaders of the 17-nation single currency area agreed on a second bailout for Greece involving “voluntary” writedowns for private ... as using the ECB as Europe's lender of last resort or issuing joint eurozone bonds, are politically taboo in Germany. Barring such game-changers, expect the eurozone debt crisis to rumble on and on, if it doesn't explode. — Reuters. News Link ...
PERDANA ONLINE
NewsDaily: France, Germany near rescue fund deal: paper
Britain's Guardian newspaper reported on Tuesday that France and Germany had agreed to boost aeuro zone financial rescue fund to two trillion euros ($2.76 trillion), pushing U.S. stocks and the eurohigher despite doubts about whether there ... confidence that the plan would be approved at Sunday'scrisis summit was on the rise after Moody's warned it might put France's top AAA credit rating on review, citing the cost of bailing out troubled banks or other members of the euro zone. ...
NewsDaily: Top Headlines
read more - The Palgrave Econolog - story details
By Republished content
Chris Giles and Hugh Carnegy:US-UK rule out wider IMF powers: The US and UK rejected suggestions from emerging market countries that the International Monetary Fund needed more firepower to fight the eurozone crisis, creating a discordant start to the Group. linked to by 6 ...Gavyn Davies gives his view: $1.5T:The size of the eurozones big bazooka The outline of a package to save the eurozone began to emerge at the G20 meeting last weekend.The big questions surround...
The Palgrave Econolog - latest...
Euro zone crisis set to dominate G20 Paris meeting - TrustLaw
LATEST NEWS: Romania - Factors to watch on Oct 14 · Euro zone crisis set to dominate G20 Paris meeting · Inter-Caste Marriage Tears Indian Family Apart ...
www.trust.org/.../euro-zone-crisis-set-to-dominate-g20-paris-...
West Africa: Sanusi Warns West African Countries On Euro Zone Crisis
The Governor of the Central Bank of Nigeria (CBN) Malam Sanusi Lamido Sanusi has urged the West African sub-region to be prepared for the likely ...
news.gkrom.com/.../west-africa-sanusi-warns-west-african-cou...
A 10-Step Plan To End The Eurozone Crisis - One News Page
A 10-Step Plan To End The Eurozone Crisis: In an interview with German newspaper Handelsblatt (via Reuters ext ) ... European debt crisis live (news article) ...
www.onenewspage.com/.../10-Step-Plan-To-End-The-Eurozo...
Euro zone crisis talk dominates G20 Paris meeting
The euro zone debt crisis will dominate a summit of G20 finance chiefs and central bank ... In Saturday's newspaper, the Vancouver Sun's Victoria bureau chief ...
www.vancouversun.com/.../story.html?...
Euro Zone Crisis Set to Dominate G20 Meeting in Paris - CNBC
The G20 may refer to the euro crisis in its communique and in closing news conferences ... Theeuro zone crisis has derailed Sarkozy's hopes of using his G20 ...
www.cnbc.com/.../Euro_Zone_Crisis_Set_to_Dominate_G20_...
US rejects plan to strengthen IMF in euro zone crisis - News - Fidelity
Proposals to double the size of the IMF as part of a broader international response to Europe's debtcrisis ran into resistance from the United States and others, ...
https://news.fidelity.com/news/news.jhtml?cat=Top...

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