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Nov 8, 2011

EUROZONE Crisis News, Nov 08, 2011

Eurozone crisis: Italy, Greece on the brink, markets hold breath
Economic Times
Rome has displaced Athens as the epicentre of the euro zone's sovereign debt crisis, with government bond yields nearing unsustainable levels that could force the bloc's third largest economy to seek a bailout that Europe cannot afford. Italian 10-year ...
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Eurozone Struggles to Act as Heat is on Italy, Greece
HispanicBusiness.com
Eurozone finance ministers failed Monday to take crisis-containing action, despite intensifying market pressure and mounting political turmoil in Italy and Greece. To prevent contagion, eurozone leaders decided last month to boost the firepower of ...
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HispanicBusiness.com
METALS-Copper falls after Italy vote, dollar firms
Reuters
Italy has displaced Greece as the epicentre of the euro zone's sovereign debt crisis, with government bond yields nearing unsustainable levels that could force the bloc's third-largest economy to seek a bailout that Europe cannot afford. ...
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European Debt Crisis Facts and Truth Exposed by NIA
MarketWatch (press release)
In May of 2010, eurozone countries along with the International Monetary Fund (IMF) agreed to rescue Greece from default by giving them a euro 110 billion loan. Of theeuro 110 billion loan, eurozone countries agreed to contribute euro 80 billion of ...
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FOREX-Swissie pressured; euro lower ahead of Italy vote
Reuters
* Swiss franc continues to weaken on intervention fears * Euro/Swiss profit taking offers on horizon at 1.2460-80 * Euro weakens as Italy, Greece threaten to destabilise By William James LONDON, Nov 8 (Reuters) - The Swiss franc fell on Tuesday as the ...
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Oil prices rise on euro zone optimism, Iran concerns
Proactive Investors UK
Optimism that Greece and Italy will be in a better position to resolve their fiscal problems and prevent the debt crisis from spreading across theeuro zone boosted demand for crude oil this afternoon. Current Prime Minister of Greece George Papandreou ...
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Proactive Investors UK
David Cameron pushes for more Germany action over eurozone crisis ‎
The Guardian
There has been stiff resistance from Germany's Bundesbank to ECB proposals to use eurozone countries' reserves to bolster the €1 trillion bailout fund, the European Financial Stability Facility, promised at the 27 October euro-summit. ...
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The Guardian
EMERGING MARKETS-Latam stocks mixed as Italy, Greece eyed
Reuters
Italy is the euro zone's third-largest economy, and Berlusconi has faced massive pressure to resign, including from markets that doubt his ability to grapple with a massive debt burden. Nor is Greece out of the woods yet. That country's leaders are ...
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Eurozone - Italy is short of friends
BBC News
None, though, are watching Brussels with any expectation of a solution to theeurozone crisis. Odd really when the EU's finance ministers are meeting here again this morning after a meeting last night of the Eurozone finance ministers. ...
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Eurozone: The Farce Continues
Forbes
Then we've a senior German economist insisting that Greece really ought to leave theeuro, bring back the drachma and devalue: immediately after they default on their loans that is. A eurozone may survive, but it will not be the present 17 member state ...
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European Stocks Rally on Earnings; Traders Eye Italy
Fox Business
Italian bond yields ticked higher on Tuesday, closing in on unsustainable levels as lawmakers in Rome readied for a crucial vote on public finances that marks the latest chapter in the euro zone debt crisis. The euro slipped against the dollar but ...
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TSX gives up early gains on rising worries about Italian debt crisis
CanadianBusiness.com
Political uncertainty in the eurozone's third-largest economy rocked financial markets for yet another day and Italy's borrowing rates spiked to their highest level since theeuro was established in 1999. The yield on Italy's 10-year bonds jumped as ...
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Eurozone crisis: Italy too big to rescue, must halt empty vows: Finnish PM
Economic Times
The Finnish premier noted that one of the eurozone's structural weaknesses was that confidence in the euro early on in the financial crisis had created a false sense of security regarding even the weakest economies in the bloc. ...
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Commentary: Italy has a lot of debt, and a lifeless economy
MarketWatch
Photo: AP Photo/Andrew Medichini The only remarkable thing about Italy is that it has taken it so long to become the epicenter of the euro-zone's crisis. The country's bond yields have risen dramatically in the last month — yields on 10-year bonds ...
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Greece Hurts Société Générale
Wall Street Journal
Despite the gains, its shares remain roughly 55% lower than at the start of the summer when the sovereign-debt crisis deepened. Like cross-town rival BNP Paribas SA, SocGen has slashed its euro-zone government bond exposure in a bid to overcome ...
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Forex focus: if the eurozone is a circus, Greece is the pantomime horse
Telegraph.co.uk
As chief economist Simon Smith of FxPro says: “Last week was notable because in the midst of the Greek referendum crisis, Germany and France did acknowledge that Greece was facing a choice of whether to be in or out of the eurozone. ...
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Telegraph.co.uk
ECB's Stark-govts need to solve crisis, not ECB
Reuters
Many analysts see ramping up ECB buying of euro zone government bonds, and the firepower it could unleash, as the only way to steady markets unnerved by the deepening debt crisis, which is now focusing on Italy's massive debt. ...
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Australian dollar falls on prospect of upheaval in Italy, Greece
The Australian
"The primary driver across global markets continues to spawn from the eurozone with both Greece and Italy in the firing line," said Chris Gore, currency strategist at Go Markets. A close watch is being kept on Italian bond yields with concerns mounting ...
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Euro Falls as Turmoil Spurs Concern Crisis May Spread to Italy
BusinessWeek
“Price action for currencies is really tracing its developments coming out of the euro zone on a minute-by-minute basis,” said Ravi Bharadwaj, a market analyst at Travelex Global Business Payments, a currency-exchange network in Washington. “Italian ...
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Long-End Treasurys Eke Out Gain Amid Euro-Zone Saga
Wall Street Journal
Friday's rally, in the face of a somewhat encouraging US jobs report, highlighted just how quickly Treasurys can come back into favor amid the ever-unfolding euro-zone crisis. "It is foolish to get too excited by the fact that Greece appears to have ...
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Sterling Has Luck of the Irish, For Now
Wall Street Journal (blog)
The UK is vulnerable to the chance of an even nastier slowdown in the euro area–a huge trading partner. But UK bank exposure to the euro zone's debt crisis is primarily through Ireland. And of all the euro-zone members currently in intensive care, ...
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Does Italy need to be saved?
Channel 4 News
There will be about 300bn euros left when Greece has received help. On 27 October, there was an agreement to increase the fund to 1tr euros. Portugal, Ireland and Greece have much smaller economies than Italy, which is the third biggest in the eurozone ...
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Channel 4 News
Stocks Recover on European Crisis Reassurances
TheStreet.com
"Equity markets are narrowing in on Italy's ability to work out a deal." Meanwhile, the situation in Greece looked more stable after the country came to an agreement to accept an aid package from its European neighbors that will allow Greece to avoid ...
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Bailout decision delayed as political will tested
Sydney Morning Herald
The fund, which is supposed to be the euro zone's main weapon against the debt crisis, managed to raise €3 billion but only after having to pay record returns to entice investors. With political turmoil still plaguingGreece and descending upon Italy, ...
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Sydney Morning Herald
Loonie lower, confidence vote reinforces worries over Italy's own debt crisis
Medicine Hat News
The loonie was down 0.21 of a cent to 98.54 cents US as Italian premier Silvia Berlusconi won a key confidence vote but the results left the leader of the eurozone'sthird-biggest economy without a majority in parliament. The focus of the European debt...
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NewsDaily: Italy, Greece on the brink, markets hold breath
By Catherine Hornby and Harry Papachristou
Rome has displaced Athens as the epicenter of the euro zone's sovereign debt crisis, with government bond yields nearing unsustainable levels that could force the bloc's third largest economy to seek a bailout that Europe cannot afford. ...
NewsDaily: Top Headlines
In Turmoil, Greece and Italy Deepen Euro Crisis « News Hub Today
By NewsHubToday
In Greece, where political chaos last week threatened to plunge the euro zone intocrisis, doubts remained about the capacity of the political class to form a coalition government to push through reforms it has agreed to in return for a financial ...
News Hub Today
Euro zone trouble - Italy bond yields soar and EFSF bailout fund ...
By noreply@blogger.com (bw)
Italian government bond yields soared to near 15-year highs, putting the euro zone'sthird largest economy front and center of the region's debt crisis, despite scrambling efforts by policymakers to stem the growing contagion. Italy, the world's eighth largest economy, overtook Greece as the prime threat to the stability of the 17-country single currency zone, as finance ministers met to try to find ways of building a firewall around the two-year-old crisis. The EFSF bailout fund is having ...
Next Big Future
EU debt crisis: Italy, Greece on the brink | Investing | Financial Post
Italy has displaced Greece as the epicentre of the eurozone's sovereign debt crisis, with government bond yields nearing unsustainable levels that could force the bloc's third largest economy to seek a bailout that Europe cannot afford. ... Eurozone finance ministers, meeting in Brussels, agreed on Monday on a roadmap for boosting the 17-nation currency bloc's 440-billion-euro (US$600-billion) rescue fund to shield larger economies like Italy and Spain from a possible Greek default. ...
FP Top Stories List
Nov 8: Italian Crisis - Zacks.com
By Zacks
By its sheer size, Italy is a big deal. Ever since the start of the Euro-zone debt crisis, the market has been apprehensive of contagion spreading from the peripheral and much smaller economies of Greece, Ireland, and Portugal to the Euro-zone ...
Zacks Investment Research - All...
EUR/USD: Euro fell on Italy and Greece concerns | GCI Forex News
By GCI Financial
EUR/USD: Euro fell on Italy and Greece concerns. Posted on November 8, 2011 by GCI Financial. Tweet · EUR USD. EURUSD Movement. For the 24 hours to 23:00 GMT, EUR declined 0.31% against the USD and closed at 1.3764, on investor concerns thatItaly was next in the line of fire in the European sovereign debt crisis. ... Investors are eying the Euro-zone Economic and Financial Affairs Council meeting along with economic releases in the Euro-zone to be released later today. ...
GCI Forex News
European Debt Crisis Facts and Truth | National Inflation Association ...
By Editor
The uncertainties and fears surrounding Greece are now spreading to Italy, which saw its 10 year bond yield skyrocket in recent days to a new Euro-era high today of 6.66%.Greece's liquidity problems began last year after their ... Even though Italy's debt to GDP ratio is 120%, the second highest out of eurozone countries behind GreeceItaly'sbudget deficit as a percentage of GDP is among the lowest in the eurozone at only 3.9%. It is insane for Italy's 10 year bond yield to be 6.66% ...
National Inflation Association Blog
8-Nov-11 World View — With Italy Crumbling, Euro Crisis ...
By John J. Xenakis
Money is pouring into Switzerland (not a eurozone country), and wealthy Greeks are buying expensive second homes in Berlin and Europe. Germany agreed to join the eurocurrency based on certain promises and commitments — that only stable countries (not like Greece or Italy) would be allowed in and that German taxpayers would never be held liable for the debts other other countries (as has already happened with Greece). And now another breach of confidence is on the ...
Big Peace
European Debt Crisis Facts and Truth Exposed by NIA | LoanSafe.org
By Alex Ferreras
In May of 2010, eurozone countries along with the International Monetary Fund (IMF) agreed to rescue Greece from default by giving them a euro 110 billion loan. Of the euro110 billion loan, eurozone countries agreed to ... Even though Italy's debt to GDP ratio is 120%, the second highest out of eurozone countries behind GreeceItaly's budget deficit as a percentage of GDP is among the lowest in the eurozone at only 3.9%. It is insane for Italy's 10 year bond yield to be 6.66% with the ...
LoanSafe.org
Italian Vote Of Confidence On Tap; EUR/USD Gains On Hope ...
By DailyFX
ECB: Debt Crisis Doesn't Threaten Euro – WSJ. • Greece Expected to Name Papademos Prime Minister – WSJ. • Key Berlusconi Ally Removes ... Within minutes of European trading opening, however, the tone changed, as it appears that European market participants were confident that both political situations in Greece and Italywould yield the best desired results for holding the Euro-zone together. In my opinion, those results would be Lucas Papademos being installed as the new ...
DailyMarkets.com
Greece crisis: Euro zone's political bumbling risks global gloom ...
Euro zone's repeated failure to tackle its debt crisis is catapulting bloc ... political dramas in Greece and Italy that overshadowed last week's summit of the Group ...
economictimes.indiatimes.com/news/.../10632234.cms
Official: Greece's next prime minister to be announced Tuesday ...
Eurozone finance ministers assembled in Brussels to discuss the Greek debt crisis ..."We welcome the intention of Greece to form a national unity government, " Euro ...that Italy's woes do not warrant that level of concern over the Greek crisis . ...
www.cnn.com/2011/11/07/world/europe/greece-main/
Greece And Italy Deepen Euro Crisis‎ | Fox Business
Italy has displaced Greece as the epicenter of the euro zone's sovereign debt crisis, with government bond yields nearing unsustainable levels that could force ...
www.foxbusiness.com/.../italy-greece-on-brink-as-markets-hol...
BBC News - Italy government borrowing rates hit euro-era high
"Greece is responsible for 2% of [the eurozone's] GDP whereas Italy is the third ...Are you concerned about the effect the eurozone crisis is having on Italy? ...
www.bbc.co.uk/news/business-15617132
Greece and Italy Sink Under Turmoil as Euro Crisis Widens ...
In Turmoil, Greece and Italy Deepen Euro Crisis ... threatened to plunge the eurozone into crisis, doubts remained about the capacity of the political class to form ...
www.nytimes.com/.../greece-and-italy-sink-under-turmoil-as-e...
Eurozone crisis: Italy, Greece on the brink, markets hold breath
Rome has displaced Athens as the epicentre of the euro zone's sovereign debt ... with the country with high debt and that is obviously Greece and Italy. ...
economictimes.indiatimes.com/news/.../10656242.cms
Greece crisis: Euro zone's political bumbling risks global gloom
FRANCE: The euro zone's repeated failure to tackle its debt crisis is ... even without the unpredictable political dramas in Greece and Italy that ...
economictimes.indiatimes.com/news/.../10632234.cms
Euro zone finds no new money for debt crisis at G20
Given the size of its economy, Italy poses a far graver risk to the 17-nation currencyzone than Greece, which almost brought the euro to its knees by ...
www.reuters.com/.../g20-pix-tv-graphics-idUSL5E7M35XA2...
No new euro zone money for debt crisis at G20 | Reuters
CANNES, France (Reuters) - The euro zone won verbal support but no new money at a G20 ... efforts to overcome a sovereign debt crisis, while Italy was effectively placed under. ... Analysis: Europe breaks taboo, opens door to Greek euro exit ...
www.reuters.com/article/.../us-g-idUSTRE7A20E920111104
The euro-zone crisis: The long shadow of Greece | The Economist
The euro-zone crisis. The long shadow of Greece. Oct 26th 2011, 14:29 by P.W. | LONDON. Tweet. THE euro crisis began in Athens some two years ago as the ...
www.economist.com/blogs/freeexchange/.../euro-zone-crisis-3

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