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Oct 5, 2011

EUROZONE Crisis News, Oct 05, 2011

Merkel, IMF in Brussels for eurozone crisis talks
AFP
BRUSSELS — German leader Angela Merkel flies in for talks at the EuropeanCommission Wednesday as efforts mount to contain the eurozone debt crisis and markets welcomed possible EU action to help troubled banks. The talks come after two days of ...
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JGBs gain, euro zone crisis still dominates
Reuters
"I feel financial markets have overreacted in recent days, with JGB yields marking multi-month lows, but the debt crisis in the euro zone is not likely to be resolved easily," said Shogo Fujita, chief Japan bond strategist at Bank of America Merrill ...
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Eurozone crisis: Moody's slashes Italy credit rating
Economic Times
Italy's relatively modest budget deficit, conservative financial system and high level of private savings had kept it on the sidelines of the euro zone crisis while countries like Greece and Ireland were sucked down. "Italy is being punished not ...
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Euro-zone crisis triggers Dexia break-up talks
The Australian
But the lingering effects of the 2008 crisis and the emergence of major problems in the euro-zoneperiphery caught up with Dexia. The bank accumulated large holdings of euro-zone sovereign debt during its decade-long lending spree: about €21bn in debt ...
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Global eco facing danger due to eurozone crisis: Cameron
Moneycontrol.com
Published on Tue, Oct 04, 2011 at 21:34 | Source : PTI The world economy is at "a moment of danger" due to the spiraling eurozone crisis, British Prime Minister David Cameron warned today. As European Union finance ministers meet in Luxembourg to ...
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Moneycontrol.com
Bank Deposits at ECB Reach 2011 High
Wall Street Journal
By MARGIT FEHER FRANKFURT—Euro-zone banks' overnight deposits with the European Central Bank Tuesday hit a fresh peak for this year as lending conditions among banks remained strained amid Europe's deepening debt crisis. ...
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Muni issuers drop Dexia as euro crisis hits home
Reuters
By Karen Pierog (Reuters) - US states, cities and other issuers in the municipal bond market are increasingly dropping credit back-ups provided by Belgian-French financial group Dexia as the euro zone crisis creeps onto American shores. Dexia (DEXI. ...
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FOREX: Euro, Risk Appetite Torn Between Conflicting EU Crisis News
DailyFX
Capital positions of European banks must be reinforced…This should be regarded as an integral part of the EU's comprehensive strategy to restore confidence and overcome the crisis.” UK economic data headlines the calendar, with the final revision of ...
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Hopes that economic crisis will deliver cheaper oil
The Guardian
Oil prices tumbled over fears for the European economy. Photograph: Charles Krupa/AP Oil prices have tumbled on world exchanges raising hopes among consumer groups that one silver lining from the eurozone crisis will be lower petrol prices. ...
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The Guardian
Avoid risky assets until November G20 meet: Citi strategist
Reuters
"The way with which the euro zone crisis is managed will dictate whether or not we have slow growth in the United States or a global financial crisis," John Woods, chief Asian strategist at Citi Private Bank, told the Reuters Global Wealth Management ...
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Reuters
IMF Offers New Support to Ease Euro Debt Crisis
ABC News
AP The statement comes amid a severe worsening of the eurozone's debt crisis and a day after Moody's ratings agency downgraded Italy's creditworthiness. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. ...
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ABC News
Euro zone private sector contracts for 1st time in 2 years
Reuters
By Jonathan Cable LONDON (Reuters) - The euro zone's private sector contracted for the first time in two years last month, shrinking faster than first reported as new business dried up while the debtcrisis cut expectations for the future to two-year ...
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Doubts over eurozone trim Asia gains
Financial Times
In the latest blow to be dealt to investor confidence by Europe's intractable crisis, Moody's lowered its rating on Italy's bonds by three notches on Tuesday, saying it saw a “material increase” in funding risks for euro zone countries. ...
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Eurozone ministers under fire
Sky News
"I am confident that we are moving forward and for the UK Chancellor, not being in the euro, I am more and more convinced that the biggest single boost you could make to the UK economy this autumn would be a resolution of the eurozone crisis. ...
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Asian Shares End Mixed As Euro-Zone Concerns Continue To Weigh
Wall Street Journal
By Sarah Turner and Michael Kitchen SYDNEY (MarketWatch)--Asian markets ended mixed after choppy trade Wednesday despite Wall Street's final-hour rally Tuesday, as caution over the euro-zone debt crisis persisted, while Apple-related plays around the ...
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Most Germans want Deutsche mark back, poll shows
Chicago Tribune
BERLIN (Reuters) - More than half of all Germans would like to bring back the Deutsche mark, although the number has remained stable even as the euro zone debt crisis escalated in the last year, a survey released on Wednesday showed. ...
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SocGen has no need for capital injection-exec
Reuters
By Dinesh Nair DUBAI, Oct 5 (Reuters) - French bank Societe Generale has no present need for a capital injection despite the euro zone crisis and the lender's funding programme for 2011 is complete, the global head of its private bank said on Wednesday ...
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Don't clamor for a euro rescue; demand a breakup
MarketWatch
The euro zone has to stump up more money for the bailouts, and move to fiscal union. It needs more firepower. Nothing else can put an end to the drama. What the financial experts think and say matters. The crisis is largely being driven by the markets, ...
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Forex – Dollar Broadly Higher Amid Euro Zone Pessimism
Daily Markets
By Forexpros on October 5, 2011 | More Posts By Forexpros | Author's Website Forexpros – The US dollar was higher against most of its major counterparts on Wednesday, as concerns over the impact of the debt crisis in the euro zone weighed on demand for ...
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Recessions and misunderstandings
The Economist (blog)
ONE thing that has me very confused about the euro-zone crisis is that, while northern Europeanpolitical leaders and the European Central Bank fervently believe in hard money, balanced budgets, and severe discipline for profligate southern European ...
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Rupee up; fears of euro zone banking crisis ease
Economic Times
MUMBAI: The rupee rose on Wednesday after declining for three straight sessions as worries of a spill over of the euro zone debt crisis into the region's banking system eased somewhat, aiding theeuro and domestic equities. * European finance ministers ...
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Slovakia stuck on eurozone rescue fund
Financial Times
New tools for the €440bn European financial stability facility – aimed at halting the spiralling crisis in the eurozone – have to be approved by all 17 member countries before they can go into effect. The Netherlands, Malta and Slovakia still have to ...
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French Minister: Open to Bigger Greek Debt Haircut
Wall Street Journal
Since then, stock markets have been plunged into turmoil as investors fretted over global growth prospects and the banking sector's ability to deal with the euro-zone debt crisis. French banks, which have large exposure to troubled euro-zone countries, ...
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Italy's Tremonti Warns Banks Could Spread Debt Crisis
Wall Street Journal
The bank is heavily exposed to sovereign debt issued by Greece, Italy and other troubled euro-zoneeconomies. The debt crisis "has its epicenter in Europe, pivots on sovereign risks and becomes apparent in banking risks," Finance Minister Giulio ...
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WORLD FOREX: Euro Pares Gains As Asia Stocks Lackluster
Wall Street Journal
By Kosaku Narioka Of DOW JONES NEWSWIRES TOKYO -(Dow Jones)- The euro fell back slightly in Asia Wednesday, as some regional stock markets lost their upward momentum amid renewed doubts about the euro zone debt crisis and a gloomy global growth outlook ...
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Korean govt back in crisis mode as markets tumble
Reuters
The euro zone debt crisis and concern the US economy is slipping in another recession have prompted a global sell-off in riskier assets, including in emerging markets. Foreign investors were net sellers of Korean bonds in September for the first time ...
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Asian Shares Mostly Up; But Tokyo, Seoul Hit By Econ Fears
Wall Street Journal
By Wei-Zhe Tan and Leslie Shaffer SINGAPORE (Dow Jones)--Most Asian stock markets were modestly higher Wednesday, but buyers lacked conviction despite Wall Street's final-hour rally Tuesday, as caution over the euro-zone debt crisis persisted. ...
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Banks lead bounce for European shares
Reuters
We need a strategy for resolving the sovereign debt crisis in the euro zone. We need s strategy to get on top of the US debt problem," Jeremy Batstone-Carr, strategist at Charles Stanley, said. "Until we get answers, the market can stay cheap. ...
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European Retail Sales Drop as Predicted; Consumers Show Fear of Crisis
DailyFX
By David Schutz, Eurozone data on retail sales for August (MoM), released today, showed a slight decrease in sales with the numbers matching the prediction of a 0.3% drop in sales. The data is bad news for European retailers as summertime sales have ...
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What The Gurus Say About The Eurozone Crisis
Motley Fool UK
Stiglitz adds: "The question was always: when a crisis occurred would they be able to finish the task? And I think the jury is still out." He praises the eurozone meeting in July but feels things are moving too slowly. He thinks the European Financial ...
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Emerging-Market Currencies, Debt Slip With Euro-Zone In Focus
Wall Street Journal
By Erin McCarthy Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Emerging-market assets weakened once again Tuesday as anxiety surrounding Greece's debt crisis heightened, though central bank action curbed some currencies' losses. Emerging European ...
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EU Debt Crisis Infographic
Forex News Now
ForexNewsNow - With all of the recent news surrounding the ongoing European Monetary Union debt crisis and the growing possibility of a Greek default, ForexNewsNow has compiled a detailed infographic in an effort to visually lay out the current ...
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Fourth Quarter Key to Recession Debate
Wall Street Journal (blog)
The other risk that hopefully will be resolved — one way or another — this quarter will be the euro zone crisis. Monday's stock trading shows how the uncertainty about the Greek-bailout vote is overriding the better US data. ...
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Eastern European Outlook: Growth will slow - but not as sharply as in the West
Reuters (press release)
The ambitions of EU countries in Eastern Europe to adopt the euro have cooled because of the euro zone debt crisis. "Partly due to the worsening euro zone debt crisis and the risks of a Greek default, EU member countries in Eastern Europe will probably ...
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Euro banks crisis engulfs Deutsche
istockAnalyst.com (press release)
Ackermann said that the eurozone crisis had led to "significantly reduced volumes and revenues" in its corporate banking and securities division which make up its investment bank. He said that meant the investment bank's third-quarter result "will come ...
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A nation looking for an escape
Financial Times
Spanish policymakers have not stood idly by amid the turmoil of the eurozone crisis. In a rare bipartisan effort, the Socialist government of José Luis Rodríguez Zapatero, the prime minister, and the Popular party, the rightwing opposition expected to ...
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Financial Times
Pressure grows on Europe to help ailing banks
Reuters
"Making the banks secure in crisis is the top priority for now," said Fekter, adding that countries in the euro zone had been urged at a meeting of ministers from the single currency area on Monday to examine backstops, a term that translates to ...
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XE.com - JGB futures mostly flat, euro zone crisis still dominates
Japanese government bond futures were mostly flat on Wednesday, with market participants reluctant to shift positions as they focus on the struggle to keep Europe's debt crisis from infecting its banks.
XE Forex News
Opinions and News on the Eurozone Crisis, No. - American Future
By Marc Schulman
In the meantime, however, the eurozone desperately insists to be judged on what it says and not on what it does. That is no way to behave in a crisis of voter and investor confidence that threatens to rend the fabric of European integration. ...
AMERICAN FUTURE
'Greece may kill Euro by end of year' — RT
By RT
The crisis in Greece could leave the country's people to starve to death if it suits a troika of international lenders, says investment advisor Patrick Young, accusing the EU leadership of pig-headed intransigence and incompetence. ... Greek financial ills. The Greek debt crisis has taken a sharp turn for the worse, as the country's government admits it will not meet key EU-mandated deficit deadlines for 2011 and 2012. The news sent Asian markets plummeting on Monday. Eurozone crisis...
News RSS : Today
Euro to drop pending ECB decision to cut interest rates? | PureFX
By purefx
Euro to drop pending ECB decision to cut interest rates? (Good news for people sending money to Europe). Could the European Central Bank be about to cut its interest rates? The deepeningEurozone crisis makes it possible – potentially ...
PureFX
NewsDaily: Moody's slashes Italy credit rating
NewsDaily: Your best source for breaking news ... The cuts underline growing investor concern about the euro zone's third largest economy, which is now firmly at the center of the debt crisis and dependent on help from the European Central Bank to keep its borrowing costs under control. "The negative outlook reflects ongoing economic and financial risks in Italy and in the euro area," Moody's said in a statement. "The uncertain market environment and the risk of further deterioration ...
NewsDaily: Business Headlines
European debt crisis Live: World markets slide as EU meeting stalls ...
The Euro Stoxx 50 volatility index - which is dubbed the eurozone's fear gauge - is up ... Osborne, who on Monday said resolving the eurozone crisis would be the "single ..... Follow the latest business news, comment and analysis on Twitter ...
www.guardian.co.uk/global/blog/2011/.../european-debt-crisis
EFSF 'War Chest' Can Stop Euro Zone Crisis: CIO Guggenheim ...
If the European Financial Stability Facility , which functions like a bank to provide ... a big enough war chest to stop" the euro zone crisis, said Scott Minerd, CIO of the ... 'How Modern Economics Have Failed Us' New Book Examines the 'End of ...
www.cnbc.com/.../EFSF_War_Chest_Can_Stop_Euro_Zone_...
Gulf Daily News » Business News » Euro zone crisis a threat to ...
MANCHESTER: British Prime Minister David Cameron yesterday said that the euro zone had to get on with fixing its financial problems or risk pulling down the ...
www.gulf-daily-news.com/NewsDetails.aspx?storyid=314682
EU urges Slovakia to pass eurozone crisis fund — EUbusiness ...
The European Commission pressed Slovakia on Friday to approve the ... are here: Home → Breaking news → EU urges Slovakia to pass eurozone crisis fund ...
www.eubusiness.com/news-eu/finance-economy.cll
Euro zone crisis clouds recovery in Europe, Central Asia [newKerala ...
Euro zone crisis clouds recovery in Europe, Central Asia - Washington, Sep 24 : The ongoing economic recovery in the emerging Europe and Central Asian ...
www.newkerala.com/news/2011/worldnews-74230.html
Business News, Euro Zone Crisis Risks Harming Britain's Economy ...
British PM Cameron calls for urgent action to fix European bank, debt problems Europe must urgently fix its banks and deal with its debts, British Prime.
www.mediatalking.com/euro-zone-crisis-risks-harming-britain...
Europe I Debt Crisis I IMF Talks
IMF talks deliver new euro zone crisis plan ... The news comes after talks in Washington over the weekend between the G20 leaders, the World Bank and the ...
web1.globalpost.com/.../euro-zone-crisis-imf-world-bank-g20
Bangkok Post : Merkel to hold talks on eurozone crisis
... was to hold talks at the European Commission Wednesday amid efforts to contain the eurozonedebt crisis, as markets reacted nervously to an EU plan to help troubled banks. ... Published: 5/10/2011 at 01:32 PM; Newspaper section: news ...
www.bangkokpost.com/.../merkel-to-hold-talks-on-eurozone-...

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