IRELAND, Portugal, Spain, Italy, Greece News, Oct 24, 2011

S&P Warns of Downgrades If a New Recession Hits Wall Street Journal The current EU and IMF funding mechanisms are sufficient to support borrowing requirements ofGreece, Ireland and Portugal, and a "small sliver" for those of Italy and Spain. "This safety net, however, would be insufficient if conditions were to ... See all stories on this topic »

TEXT-S&P report:Assessing EU & IMF funding capacity for Eurozone Reuters The report also examines the funding capacity of the EU and International Monetary Fund (IMF) to support stressed borrowing requirements from Greece, Ireland, Portugal, Italy, and Spain in order to keep borrowing costs at levels that don't exacerbate ... See all stories on this topic »

EU frames deal on bank capital, Spain, Italy under pressure Reuters After nearly 10 hours of talks, finance ministers overcame strong opposition from Spain, Italy andPortugal and agreed on the need to inject around 100 billion euros into European banks to protect them from the threat of a Greek debt default, ... See all stories on this topic »

Volatile markets, charges squeeze Nordea Reuters "The market turmoil had a negative impact on the result, despite no direct exposure to the PIIGS (Portugal, Italy, Ireland, Greece and Spain) countries." Nordea's operating profit for the period was 566 million euros ($775 million), far below a mean ... See all stories on this topic »

European Bank Loans in Spain, France Rose in Second Quarter BusinessWeek Oct. 20 (Bloomberg) -- European banks continued to lend to borrowers in Italy, Spain and France, while they were replaced by the public sector in Greece, Portugal and Ireland, according to the Bank for International Settlements. ... See all stories on this topic »

EU Rules Out ECB Help in Boosting Fund Bloomberg Central bankers have expressed reluctance to step up the purchases, which started with Greece, Ireland and Portugal last year and widened to Italy and Spain in August as those markets came under attack. “One shouldn't demand more from the ECB than it ... See all stories on this topic » Bloomberg

Eurozone crisis plan won't solve underlying problems like imbalances in trade ... Washington Post Germany is an export powerhouse, running an estimated trade surplus of 5.5 percent of economic output this year, while the troubled countries run deficits: Portugal 8.5 percent, Spain 4.5 percent,Italy 0.9 percent and Greece 4.2 percent. ... See all stories on this topic »

Deutsche Bank betting $4.9 billion in Las Vegas The Local.de Deutsche Bank has invested almost $5 billion in casinos in Las Vegas, almost as much as its exposure to Greece, Italy, Ireland, Spain and Portugal put together, a British newspaper report said. According to an article in the Financial Times, ... See all stories on this topic » The Local.de

IFR-COMMENT: Moody's, unintended consequences, 10yr FR/DE spread Reuters The most notable aspect to the Eurozone debt crisis was that trying to resolve Greece led to pressure on Ireland/Portugal and then trying to deal with Ireland/Portugal saw pressure onItaly/Spain. Now efforts to recapitalize the banks and ringfence ... See all stories on this topic »

CDS Traders Raise French Bets as EU Debates Greece: Euro Credit San Francisco Chronicle "The propensity for people to be short in Europe is going to stay in Italy, Spain, France, Germany and possibly Belgium, but less so in Greece, Portugal and Ireland," said Graham Neilson, chief investment strategist at Cairn Capital Ltd., ... See all stories on this topic »

Bank of America Lowers European Risk, Led by Reduction in Spain BusinessWeek Sovereign and non-sovereign exposure to Greece, Ireland, Italy, Portugal and Spain declined to $14.6 billion on Sept. 30 from $16.7 billion three months earlier, the Charlotte, North Carolina-based lender said today in a financial supplement posted on ... See all stories on this topic »

Portugal Unveils Harsh Budget Cuts Wall Street Journal The cuts are tough compared with those applied by other euro-zone peers such asSpain and Italy. But like Greece and Ireland, Portugal is left with little option if it is to cut its public budget deficit by the amount required under its bailout terms ... See all stories on this topic » Wall Street Journal

Thoughts on Recent Price Action and Drivers Business Insider The firewall initially builtaround Greece proved insufficient. Ireland and Portugal succumbed and required international assistance,even if their debt crises were different in origin and composition fromGreece. Although Spain was the next inline, Italy ... See all stories on this topic »

Morgan Stanley Has $2.1 Billion Net Exposure to Five EU Nations BusinessWeek Greece, Ireland, Italy, Portugal and Spain represented $5.69 billion in exposure before hedges, the New York-based firm said today on its website. Morgan Stanley's risks linked to France were $1.53 billion before hedges. Concern that Europe's debt ... See all stories on this topic »

Bond freeze ends for companies on euro periphery Financial Times While some highly rated companies have been able to tap international investors, banks, riskier non-investment grade companies and companies based in the most exposed countries – Portugal, Ireland, Italy, Greece and Spain – have faced a far tougher ... See all stories on this topic » Financial Times

Future Fund weathering euro storm Sydney Morning Herald The fund's chief investment officer, David Neal, told a Senate estimates hearing yesterday the fund had $2.8 billion worth of shares in Europe, of which $315 million were held in Greece, Ireland,Portugal, Italy and Spain. ... See all stories on this topic »

BNP calls for EFSF to issue credit default swaps Financial Times The latter would see the EFSF offer guarantees to cover the first 20-25 per cent in losses for the likes of Spain and Italy and as much as 40 per cent for Greece, Ireland and Portugal. People close to BNP argue that the Allianz proposal is too ... See all stories on this topic »

It's All Greek To Me Huffington Post As the European Union, the International Monetary Fund, and European Banks grapple with a plan to avoid the collapse of Greece, and the potential domino affect on Portugal, Ireland, Spain, andItaly, the social unrest in Greece grows. ... See all stories on this topic »

Southern European banks need most capital BBC News It is the banks in Greece, Portugal, Spain and Italy which are seen by regulators as weakest, as needing to raise the most new capital as protection against potential future losses on loans to highly indebted eurozone governments. ... See all stories on this topic » BBC News

Sarkozy yields on ECB crisis role, pressure on Italy Reuters However, EU sources said that figure appeared to include some 46 billion euros already earmarked for bank support in the EU/IMF bailout programmes for Ireland, Greece and Portugal. Markets may be disappointed if the actual capital injection is only ... See all stories on this topic »

S&P Did Its Own Stress Test For Europe, And It Looks Pretty Grim Business Insider The IMF and the EU would be able to support 100% of Greece's, Portugal's, andIreland's borrowing requirements. They would also be able to support up to 10% ofSpain's and Italy's. - They would not be able to support 30% of Italy and Spain'sborrowing ... See all stories on this topic » Business Insider

No deal yet on euro crisis as the danger grows USA Today The eurozone also still needs to work out how to most effectively use Europe's bailout fund to make sure Italy and Spain don't see their borrowing costs spiral out of control, as happened with Greece, Portugal and Ireland. Officials said leaders had ... See all stories on this topic » USA Today

Greece at standstill ahead of austerity vote CBS News Ireland, Portugal, Italy, and Spain. Other nations sagging under the weight of the tax free zone are Great Britain and France. The issue will not be resolved until the Euro Currency collapses. The Euro is currently tottally propped up by the ECB and ... See all stories on this topic »

Rating Agencies: Weapon of Economic and Financial Manipulation? «Market Leader» - news and previews making you rich. After cutting to junk the sovereign ratings of Greece, Portugal and Ireland and intimidating investors with possible cuts in Spain and Italy's ratings, the world's most influential rating agencies switched to European banks. A week ago Moody's agency ... See all stories on this topic » «Market Leader» - news and previews making you rich.

Stocks, Commodities, Euro Gain Amid Optimism About Europe Talks San Francisco Chronicle The ratings of Spain, Italy, Ireland and Portugal would also be reduced by one or two levels in either of two stress scenarios, the New York-based ratings firm said. --With assistance from Shiyin Chen in Singapore, Claudia Carpenter, Michael Shanahan, ... See all stories on this topic »

Italy told to fix finances at EU summit AFP With fears rising that Italy could be sucked into a crisis that has already claimedGreece, Ireland and Portugal, a diplomat said that "the idea is to pressure Berlusconi." Budget cuts adopted by the Italian parliament in July and September aim to ... See all stories on this topic » AFP

Bloomberg View: A Powell Doctrine for Europe; Alternative Energy Needs Storage BusinessWeek The European Financial Stability Facility and the European Central Bank, with the collective backing of euro-area governments and possibly the IMF, would have to guarantee all new bonds issued by Greece, Portugal, Ireland, Spain, Italy, France,... See all stories on this topic » BusinessWeek

Spain on track to meet budget goals, presidential source says Vancouver Sun ... bailout like Greece, Ireland and Portugal. EU finance ministers neared agreement on Saturday on a framework to bolster European banks to help tackle the euro zone debt crisis, but were still wrangling over how to do it as Spain, Italy and Portugal ... See all stories on this topic »

S&P sees downgrade blitz in EMU recession, threatening crisis strategy Telegraph.co.uk The report, due Friday, said a double-dip recession would lead to a downgrade of "one or two notches" for France, Spain, Italy, Ireland and Portugal, both because of tumbling tax revenues and the extra costs of propping up banks. ... See all stories on this topic » Telegraph.co.uk

Damned Euro, Cursed Hypocrisy Seeking Alpha ... as the relentless wave of investor distrust toward government bonds, which has already putGreece, Ireland and Portugal underwater and seriously doused Italy and Spain, begins to pull down Belgium and threatens France, with Austria next in line. ... See all stories on this topic »

Equalise sovereign funding costs to save the eurozone Financial Times Each country would fund itself at whatever market rates are available (obviously this may well be punitive in the case of Portugal, Italy, Ireland, Spain and Greece); however, at the end of the year a “totting up” occurs and cash transfers are made ... See all stories on this topic »

Struggling French Banks Fought to Avoid Oversight Wall Street Journal By the end of last year, France's top four banks were sitting on a total of €419 billion (about $580 billion) in loans and debt from Greece, Ireland, Italy, Portugal andSpain, according to data gathered in a recent "stress test" of European banks. ... See all stories on this topic » Wall Street Journal

France Back In The Spotlight Credit Writedowns We continue to believe that Spain, Italy, Ireland, and Portugal are all still facing significant downgrade risk. Only Greece at CC/Ca/CCC is close to correctly rated. And with euro zone growth slowing, these peripheral countries are likely to be ... See all stories on this topic »

The European Central Bank The Economist That spurred a great deal of cross-border borrowing that fed prodigious construction booms in Spainand Ireland. In slower-growing Italy and Portugal, lower borrowing costs propped up demand. Safely inside the euro area, and benefiting from the gift of ... See all stories on this topic »

Will Monsieur Trichet end up retreating from Spain and Italy like he ... By Shaun Richards The social news and knowledge network for the investment community. Homepage · Investment Insight ... Will Monsieur Trichet end up retreating from Spain and Italy like he has from Greece,Ireland and Portugal? Posted on October 21, 2011 ... Mindful Money

Economic Tremors | War Is A Crime .org By Stephen Lendman ... Greece. Progressive Radio News Hour contributor Bob Chapman warns when it goes, all troubled Eurozone countries will follow. ... PIIGS countries Portugal, Ireland, Italy, Greece and Spain have over $4 trillion in sovereign debt. Chapman ... War Is A Crime .org

The $600 Trillion Time Bomb By admin October 21st, 2011. Categories: News, Economic. Link: http://www.geopoliticalmonitor.com/the-600-trillion-time-bomb-4507/. Do you want to know the real reason banks aren't lending and the PIIGS [Portugal, Ireland, Italy, Greece, Spain] have ... News

Afternoon Stock Market Movement Avoids Bear Market By Phil Loyd Stocks had been trading lower all day until the news from Europe hit the wires. The debt situation in Europe, in Greece, Italy, Ireland, Portugal, and Spain, has been worrying investors that some of these countries may indeed go into default if ... IRA.com

Limits of “Extend and Pretend” Tested » Monty Pelerin's World By Monty Pelerin Then that fall, the risk was Greece, Ireland and Portugal and this was when the term PIG was coined. At that time, the goal was to protect Spain and Italy. And we know how that went. Then just this past July, the crisis moved beyond just Greece ... Monty Pelerin's World

XE.com - S&P likely to cut ratings of France, others if economies crash Search for a news provider, date, or keywords. News Providers: Thompson ... 'Sovereign ratings on France, Spain, Italy, Ireland, and Portugal likely would be lowered by one or two notches under both scenarios,' said S&P in the report dated Oct. 20. A worst-case economic scenario ... European leaders will meet on Sunday in a summit to try to tackle the euro zone debt crisis that has already required financial rescues of Greece, Ireland and Portugal. France and Germany, the most ... XE Forex News

No deal yet on euro crisis as the danger grows (AP ... - Rocket News By Editor - Business News That would spell disaster: Europe has rescued three small nations — Greece, Ireland and Portugal— but cannot afford to rescue Italy, the eurozone's third largest economy. Analysts say EU leaders, known as the European Council when they ... Rocket News

Europe Nears Crisis: Weekend at Bernie's Redux | Jill Schlesinger ... By Jill Schlesinger 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. Italy is literally too big to bail. The troika needs to show the global financial system that Italy and Spain will be OK. Next problem: ... (The good news is that the $700B TARP ended up costing taxpayers much less–more like $20B. Of course this doesn't include the more than $150B to bail out Fannie Mae and Freddie Mac.) So why ... CBS MoneyWatch.com RSS

Eurocide « Don Surber By Don Surber Greece just said to Germany, we owe €270 billion. Except the sitcom's name is really Austria, Belgium, Cyprus, Estonia, Finland, France, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain ... Don Surber

RBA: Australia Banks Find Funding Easier Than Euro Rivals ... By RSS Feed Debelle noted U.S. money market funds (MMFs), which had been big buyers of European bank debt, had pulled back so that they now owned little or no debt issued by banks in Greece, Ireland, Italy,Portugal and Spain. ... Filed Under: News Feed Tagged With: compliance, cost containment, credit, delivery versus payment, DVP, Enterprise, enterprise risk, Internal audit, Liquidity Risk, loan settlement, market, mitigate risk, Operational, risk activities, risk mitigation, secon, syndicated ... Clearing and Settlement — Clearing...

Ireland, Greece, Portugal, Spain, Italy... | Politicus - Connecting ... and now France?'France's Finance Minister Francois Baroin said Tuesday that the government would do everything in its power to maintain its triple-A rating ... www.politicus.org.uk/news/ireland-greece-portugal-spain-italy

Spain, Italy under pressure as EU frames deal on ... - Yahoo! News Discover News based on what your friends are reading and publish your own reading ..... Italy,Spain, Portugal, Belgium, France, Ireland and Greece should ... news.yahoo.com/greece-may-60-percent-bond-writedown-eu-...

S&P warns France, Spain, Italy Portugal & Ireland of rating cut Sovereign ratings on France, Spain, Italy, Ireland, and Portugal likely would be lowered ... Euro govts consider wielding $1.3 trn to fight debt impasseGreece adopts ... PM wonders if 9% growth feasible · Murdoch, sons survive News Corp AGM ... www.financialexpress.com/news/s&p...of.../863739/

Europe on the breadline + Europe | World news | The Guardian 14 Oct 2011: Jon Henley is travelling through Portugal, Spain, Italy and Greece to hear the human stories behind the European debt crisis. He hears from more ... www.guardian.co.uk/.../europe-on-the-breadline+europe-news

Spain, Italy under pressure as EU agrees banking deal | The Irish ... Italy, Spain and Portugal, which face paying a heavy price to strengthen their ... Greece has already received a €110 billion rescue plan from the EU and IMF, but ... m.irishtimes.com/newspaper/breaking/2011/.../breaking1.html...

Europe's Last Stand Needs Overwhelming Firepower: View ... BREAKING NEWS: [EU Leaders Said to Consider Combining Rescue Funds to Deploy ... Other euro-area countries -- including Ireland, Italy, Spain, Belgium and France ... range, suggesting the bloodletting could end at Greece and Portugal. ... mobile.bloomberg.com/.../europe-s-last-stand-in-financial-crisi...

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