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Oct 8, 2011

GREECE News, Oct 08, 2011


Greek PM mulls national unity government - paper
Reuters
EU leaders will meet in Brussels on Oct. 17-18 to discuss revising a July 21 deal to provide Greece with a second rescue package, possibly by asking banks to accept larger losses on their holdings of Greek debt.
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Greek-American Students Report on Economic Protests
PBS NewsHour
The Greeks simply need to accept the challenge and reinterpret the crisis as a chance for a new beginning. Vasiliki and other students in the Reinventing Greece fellows program took these pictures of protests around Syntagma Square in central Athens. ...
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PBS NewsHour
Stocks end lower after jobs report, Europe downgrades
USA Today
The banks have become increasingly reluctant to lend money to each other, so the new loans from Europe's central bank would make it easier to keep the flow of credit going. Investors have also worried that if theGreek government defaults on its debt, ...
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USA Today
IMF Official Says Greece Review Is Making Good Progress
BusinessWeek
Luxembourg Prime Minister Jean-Claude Juncker said yesterday that international auditors will probably present their next report on Greek finances on Oct. 24 and that he expects them to recommend paying the next tranche of aid. ...
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Weekly Gold Report
Gold Seek
If the EU can show they can contain Greek debt issues without contagion spreading, that would go a long way in changing market psychology towards Spain and Italy. On the other hand, it might open a whole new can of worms. Today the ECB announced that ...
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The Overnight Report: The Honeymoon Continues
Ninemsn
Echoing the Fed's new policy of specifying timing, the ECB will provide banks with as much liquidity as they need until at least July 2012. In other words, we might now be able to assume that whatever happens on the default front, from Greece to anyone ...
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Ancient Greek farmers found buried with livestock: Report
Straits Times
ATHENS (AFP) - Archaeologists in northern Greece have found a rare group of ancient graves where farmers were interred with their livestock, a Greek daily reported on Friday. At least 11 adults and 16 farm animals were found buried together near the ...
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How Ireland managed to end up part of the 'New Third World'
Irish Times
Lewis says Greece is already in the process of defaulting, and that Greek prime minister George Papandreou and German chancellor Angela Merkel will be forced out of office. The Greek default will be “very messy”. Greece will “leave the euro” and ...
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Merkel Says Bank Capitalization to Be EU Summit Topic
BusinessWeek
... auditors will probably present their next report on Greek finances on Oct. 24 and that he expects them to recommend paying the next tranche of aid. “Greece shouldn't have a central role in this summit as best I can tell right now,” Merkel said, ...
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Traders Now Short The Swiss Franc; Remain Bullish On Dollar
Wall Street Journal
Traders are holding those bets steady as they try to figure out whether Greece will default and how such a default would impact Europe's banking sector. The anti-euro investments are hovering near their highest levels since June 2010, when Greek debt ...
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Hyper-Oversold Markets
Gold Seek
Greece was going to default, Europe was in danger of fracturing, China was slowing, a US recession loomed, the sky was falling. And the SPX was oversold, trading under the lower support of its long-term relative trading range. At Zeal we use the latest ...
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British law firm cashes in on Finnish guarantee deal
YLE News
According to a YLE report, the Finance Ministry confirmed that the final collateral agreement was the work of officials. However the UK-based firm was retained in consultation with a Greek law firm, reportedly established practice in matters related to...
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This Is the Single Greatest Threat to U.S. Multinationals
Motley Fool
For example, in its latest quarterly filing in July, McDonald's (NYSE: MCD ) noted that 41% of its revenue is derived from Europe. In that report, McDonald's reported a $0.10 beneficial gain in income-per-share directly derived from favorable currency ...
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Around the Globe, Workers Demand Decent Jobs
Inter Press Service
"When we first talked about socialism, it was to make sure that workers got the full fruit of their labour and had economic security," Howie Hawkins, a 2010 Green Party candidate for New York governor, told IPS. "Now we are talking of ecological ...
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FOREX WEEK AHEAD: Dollar Likely Winner As Europe's Woes Persist
Wall Street Journal
The news revived concern that these two economies--the 17-nation euro zone's third- and fourth-largest, respectively--could yet be caught in the undertow of a Greek credit event and introduce a new element of risk. Constructive US data and Europe's ...
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Look Left – Miliband shuffles the shadows as Clarke/May feud drags on
Left Foot Forward
The Greek government claim there is no alternative to the cuts, which as previously mentioned in Look Left, will hit public sector workers and people relying on a state pension the hardest. Despite these latest measures, there are serious doubts over ...
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Left Foot Forward
Market overview: Footsie finishes above 5300 ... just
ShareCast
On investors´ radars now are this weekend´s meeting between Sarkozy and Merkel, the Troika report on Greece in about two weeks´time and the G-20 summit in Cannes at the beginning of November (by which time some expect Eurozone leaders to have thrashed ...
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Market Weekly Wrap-up: Oct 3rd - Oct 7th
Fxtraders.eu
Risk aversion drove trading coming into the week as leaked Greek budget figures indicated the country may miss 2011 and 2012 targets, forcing the EU to delay the payout of aid to Greece and postpone a key summit meeting. Adding to the dread, ...
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Dollar rises amid Europe concerns, Fed pledge
Xinhua
Meanwhile, the debt crises in Greece and other eurozone countries still remain unsettled, with the Greek government acknowledging this week that it won't meet its deficit target this year because of expectations for a deeper-than-expected economic ...
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Corfu Link To Legionnaires' Cases Investigated
Sky News
Doctors are being asked to report any other people returning from Corfu with the relevant symptoms. :: The ECDC has alerted national authorities of a malaria risk in Greece, after a 2011 spike occurred within the prefecture of Lakonia. ...
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Sky News
Stocks Gain for the Week on Economic Data and EU Bank Hopes (AAPL, AMR, ANR ...
TradersHuddle.com
Sprint Nextel (NYSE:S), the third largest wireless carrier, jumped 4.76% to $2.86 after posting a new yearly low at $2.25. The stock had been under pressure following areport from the Wall Street Journal highlighting that the company could have ...
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EMERGING MARKETS-Brazil real, Mexico peso gain on US job data
Reuters
The US data comes at the end of a week where European leaders showed signs they may be ready to take strong action to bolster bank balance sheets against an increasingly likely default by Greece. A Greek default could hobble European banks, ...
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Earnings May Be the Rx for Volatility Fatigue
Barron's
With so many European government talking heads making almost daily comments, often contradictory ones, about how Greece's debt problem will be handled, it's no wonder investors are confused. Investors know it's been a case of the tail wagging the dog. ...
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Galvan's Week-Ahead: FTSE100 Finds Support Amid A Raft Of Bear Data
Proactive Investors UK
For stock bulls in particular, there seems to be some substance to the argument that at least the prospect of Greek debt default has been priced in. The problem is that no one is ringing a bell to sound either the FTSE 100 low or perhaps the big new ...
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Wall Street Snaps 3-Day Streak, Closes in the Red
Fox Business
There has been a growing chasm between the German and French view on the bailout; Merkel has been under political pressure to reduce Germany's roll, while French banks have a particularly high exposure to Greek sovereign debt. Financials were the worst ...
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UK Research Team, IG Group
IG Markets CFD Trading
Eurozone leaders are under increasing pressure to devise a comprehensive plan to rescue the region's banks before a G20 summit in November, after Dexia became the first bank to require a bailout due to its exposure to Greek debt. ...
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Fitch Downgrades Spain to 'AA-' and Italy to 'A+' both Outlook Negative
FXstreet.com
The agency said the sovereign debt crisis - which has seen financial markets drop severely on worries that some governments, particularly Greece, will be unable to repay all their borrowings - will take time to fix. The report, is blowing hopes Europe ...
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Stocks Climb Higher on Better-Than-Expected Jobs Data
Fox Business
There has been a growing chasm between the German and French view on the bailout; Merkel has been under political pressure to reduce Germany's roll, while French banks have a particularly high exposure to Greek sovereign debt. ...
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TSX tumbles after two days of strong gains as Italian, Spanish debt downgraded
CanadianBusiness.com
Stock markets had risen sharply over the previous couple of days amid mounting hopes that European policy-makers were preparing a plan to shore up the banking sector in the event of a Greek debt default. "I think what happened in terms of the rally was ...
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What Next for Gold ETFs After Pullback?
ETF Trends
[ETFs React to Jobs Report] Concern over a possible default for Greeceand a slump in the global economy have pushed investors into safe havens such as gold ETFs. Analysts still believe that the upside potential for gold prices is strong. ...
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ETF Trends
4 Keys for Investors to Profit During this Earnings Season
StreetAuthority
Investors have grown concerned that banks such as Citigroup (NYSE: C), Morgan Stanley (NYSE: MS) and JP Morgan (NYSE: JPM) have a significant exposure to theGreek economy, and if the country defaults on its external debt, then US banks will need to ...
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Debt crisis: live
Telegraph.co.uk
14.23 Ahead of the eurozone summit that will focus on Greece on Sunday, the FT's Izabella Kaminska makes the point that Greek bonds may not be the long-term solution. Crocs, for example, are the equivalent of Greek bonds. ...
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Telegraph.co.uk
Papandreou ... - Greece.GreekReporter.com Latest News from Greece
By Apostolos Papapostolou
Prime Minister George Papandreou may propose the formation of a coalition government of national unity to lead the country out of its debt crisis, a Greek.
Greece.GreekReporter.com Latest...
BBC News - Greek default now 'unavoidable', says Ernst & Young
Continue reading the main story ... The key question on Greece is when a " default will occur and how it will be managed". ... EU issues new debt warning Watch ...
www.bbc.co.uk/news/business-15103741
Greek haircut under review, no new euro zone aid until ... - Reuters
Now that Greece's economic growth and deficit situation has worsened, that ... IMF inspectors will have several weeks in which to report back on Athens' budget cuts. ...investor support," Ackermann told the Sunday edition of Greek newspaper ...
www.reuters.com/.../us-eurozone-idUSTRE79211720111003
Euro zone struggles with Greece debt crisis - RTÉ News
The euro zone's financial chiefs remain under pressure to find new ways to relieveGreece's debt crisis. ... One News: Markets suffer losses on Greece jitters ... that ministers would wait for a report from Greece's debt inspectors before taking any decisions. .... News At One: Dr Michael Fuchs: Greece debt is now ' unbearable' ...
www.rte.ie/news/2011/1003/greece-business.html
Papandreou ... - Greece.GreekReporter.com Latest News from Greece
Prime Minister George Papandreou may propose the formation of a coalition government of national unity to lead the country out of its debt crisis, a Greek.
greece.greekreporter.com/.../papandreou-mulls-national-unity-...
Greek haircut under review, no new euro zone aid until ... - Yahoo!
BoE Boss: Financial Crisis 'May Be Worst Ever' Sky News - 3 hours ago; Markets Rally After Positive US Jobs Report Sky News - 1 hour 13 minutes ago ... Now thatGreece's economic growth and deficit situation has worsened, that deal needs ...
uk.news.yahoo.com/greek-gloom-rocks-markets-troubles-lend...
General Strike Hits Flights And Services In Greece In ... - Sky News
Riot police have fired tear gas grenades as thousands of Greek civil servants staged a ...for the Government as it strives to implement the new austerity measures. ... If you want to track a story, you need to log in to the Sky News website. ...
news.sky.com/home/article/16083101
Greek Parliament Passes New Property Tax Bill | Fox News
Greek lawmakers approved a controversial new property tax Tuesday that aims ... On Air Now » Anchors and Reporters » ... The Journal Editorial Report ... September 27:Greek Minister of Finance Evangelos Venizelos speaks during a news ...
www.foxnews.com/.../greek-finance-minister-says-country-wil...
Greek austerity breeds new generation of homeless - SPECIAL ...
FRANCE 24 latest world news report Greek ... According to a recent survey, 54 per cent of Greeks now say they regularly feel depressed. A state-funded ...
www.france24.com/.../20111007-homeless-rife-austerity-gree...
The Greek government now faces the second day of monitoring ...
Market News Videos · Report · Wall Street Report ... cuts demanded by the creditors to have access to a new 8000 million credit ... Favorable report from the experts thatGreece depends receive money from ... Related Stock Market News ...
www.bestgrowthstock.com/.../the-greek-government-now-face...
Public Sector Workers Strike Paralyzes Greece : NPR
hear the latest news ... Listen to the Story. Morning Edition. [4 min 31 sec] ...POGGIOLI: Well, right now, today, Greece is going to come to a standstill. There's no...
www.npr.org/.../greek-public-sector-workers-strike-over-auste...
Greece to miss deficit targets; more cuts loom - MarketWatch
The Greek government says it won't meet its deficit target this year and agreed to ...Greece has agreed to implement 6.6 billion euros ($8.8 billion) in new austerity ...Greece's 2011 deficit is now expected to be 8.5% of gross domestic product, falling ...The news from Greece comes ahead of a meeting of euro-zone finance ...
www.marketwatch.com/.../new-greek-austerity-plan-short-of-t...
Vietnam Investment Review - World news - Europe puts off Greece ...
Europe puts off Greece verdict, demands new belt-tightening ... to be used for a secondGreek bailout, agreed in July but frozen with auditors now demanding a ...
www.vir.com.vn/.../europe-puts-off-greece-verdict-demands-n...
TSX loses 372 points - World - CBC News
New worries about European debt sent Canada's largest stock exchange lower on ...372 points; Skip to supplementary story content; Skip to related news content ... solidly confident the U.S. government will pay them back — at least for now. ... are in Athens reviewing reforms to see if Greece qualifies to receive the next €8 ...
www.cbc.ca/news/world/story/2011/10/.../stock-markets.html?...
Strike by Greek civil servants shuts down govt ... - Maktoob News
As Greece struggles to avoid a catastrophic default, demonstrators in Athens expressed... and evening, and state television and radio pulled news programs off the air. ...Yallabid- Online Auction Bid Now & Save Up to 99% OFF on Retail Prices Get ... For your chance to get the latest 'got to have' items at really low prices. ...
en.news.maktoob.com/20090001116564/.../Article.htm
Greek Banana Republic Status Upgraded To AAA After Sit-Ins At ...
News that government workers start shredding debt indentures for fun? ... A day after we learned that the Greece tragicomedy just gets better and better after it had ... Bank, HSBC and Lazard, we now get the latest update in this progression of ...
www.zerohedge.com/.../greek-banana-republic-status-upgrade...
Cyprus: President Receives Commission Report on Mari Blast ...
Greece.GreekReporter.com Latest News from Greece Greek News on Politics, ...Presenting his 643-page report, Polyviou said the way in which the 98 ... its work regarding the political responsibilities and the outcome is now before the public. ...
greece.greekreporter.com/.../cyprus-president-receives-commi...
Stocks tank as Greece admits it won't hit targets - Yahoo! News
News. Stocks took another hit Monday after Greece admitted it won't meet its deficit reduction ... European Central Bank and IMF — are in Athens now, trying to assess whether Greece ... meeting later Monday in Luxembourg to assess the latest Greekdevelopments. ... Pamela Sampson in Bangkok contributed to this report. ...
news.yahoo.com/stocks-tank-greece-admits-wont-hit-targets-0..

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