Today: EUROZONE Crisis News, Nov 16, 2011

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Nov 16, 2011

EUROZONE Crisis News, Nov 16, 2011


Euro zone must integrate to survive: EU's Barroso
Reuters
By Gilbert Reilhac STRASBOURG, France (Reuters) - The euro zone faces a systemic crisis and will not survive unless it becomes more integrated and disciplined, possibly through a change of the European Union's treaty, European Commission President Jose ...
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EURO GOVT-French debt hit as euro zone crisis deepens
Reuters
By Marius Zaharia and Emelia Sithole-Matarise LONDON, Nov 16 (Reuters) - French borrowing costs rose on Wednesday and were expected to increase further as the euro zone debt crisis spreads to the core of the currency bloc, while European Central Bank ...
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Euro zone crisis pushes money into London property
Reuters
The euro zone crisis has accelerated a trend already being driven by the weakness of the pound. "London is a place to put cash outside of the euro zone, and certainly outside of the south European countries," said Liam Bailey, head of residential ...
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Eurozone crisis: Live blog
Financial Times (blog)
Italian banks have ramped up their reliance on the ECB for cheaper funding since the summer as the euro zone's third biggest economy was sucked ever deeper into the region's debt crisis and its lenders faced sharply higher refinancing costs. ...
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Financial Times (blog)
Euro zone crisis to hit Russian industry
Reuters
By John Bowker and Megan Davies MOSCOW, Nov 16 (Reuters) - Russian industry is exposed to a deepening euro zone crisis primarily via its steelmakers, which sell the alloy used in construction, carmaking and infrastructure to European companies facing a ...
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EU's Van Rompuy Rejects UK Concerns of 'Two-Tier' Europe
BusinessWeek
“Nothing less than full economic and fiscal union including euro bonds will do,” Verhofstadt said. “The euro- zone crisis has reached a very dangerous point. We are now witnessing increasing spreads on interest rates between national sovereign bonds...
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LSE, ICAP fortunes diverge on euro zone crisis
Reuters
Global imbalances and slowing economic activity are being played out together with theEurozone crisis," ICAP chief executive Michael Spencer said on Wednesday. "The climate of uncertainty is inevitably creating risk aversion in volatile markets around ...
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Eurozone Crisis: UK Must Take Responsibility For Europe, Says German ...
Huffington Post UK
Kauder told his colleagues that European leaders were coming around to the German view on the response to the eurozone crisis, and were beginning to accept the country's economic orthodoxies. “Now all of a sudden, Europe is speaking German,” Kauder ...
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Spain's likely new government seeks economy crisis manager
Reuters
... (Reuters) - Center-right opposition leader Mariano Rajoy, poised to win Spain's parliamentary election on Sunday, is seeking an internationally respected figure for economy minister to win over investors nervous of the deepening euro zone crisis. ...
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Euro zone crisis 'major threat to SA'
Independent Online
Europe's debt crisis has been dragging on since early last year, when problems emerged in heavily indebted Greece. That country's problems have yet to be resolved. Now Italy, a core euro zone country, has moved into dangerous territory. ...
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Independent Online
FOREX-Euro hits 1-mth low, crisis threatens more EU members
Reuters
By Hideyuki Sano TOKYO, Nov 16 (Reuters) - The euro slipped to a fresh one-month low against the dollar and the yen on Wednesday as the euro zone debt crisisthreatened to engulf top-rated members such as France, as government bonds of core countries ...
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Bundesbank Slams Crisis Proposals
Wall Street Journal
The Bundesbank has been one of the most outspoken critics of the euro zone's crisismanagement, voicing German anxieties about carrying a disproportionate financial burden from financial bailouts. Objections raised by Germany's central bank, ...
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Analysis: Italy debt crisis threatens primary dealer support
Reuters
By William James and Kirsten Donovan LONDON (Reuters) - Banks acting as primary dealers of Italian debt are growing uncomfortable with their obligation to buy at bond auctions as the euro zone crisis worsens, increasing the risk that Italy fails to ...
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Bankers reflect on crisis at Euro Finance Week
Deutsche Welle
The eurozone crisis has been dominating discussions at the high-level "Euro Finance Week" conference this week in Frankfurt. Some financial leaders want improved regulation, while others are lobbying hard to prevent it. Speaking at the Euro Finance ...
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The Greek Haircut and Europe's Shared Responsibility
Foreign Affairs
The eurozone crisis is not a simple story of sinners and saints. Overleveraging -- the excessive borrowing practice at the core of the crisis -- is itself a perverse and direct consequence of the unified currency. The introduction of the euro and the ...
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UK Business Secretary: EU Treaty Change Talk Is A Distraction
Wall Street Journal
LONDON (Dow Jones)--Discussion about changing the treaties that govern theEuropean Union is a distraction from solving the euro-zone crisis, UK Business Secretary Vince Cable said Wednesday, highlighting differing views on Europe within the coalition ...
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ECB Should Not Pick Up Tab for Euro Crisis: Official
CNBC.com
The European Central Bank (ECB) should not pick up the tab for the euro zone crisisby default, ECB council member Yves Mersch told CNBC Wednesday. The ECB has intervened repeatedly to calm the bond market in recent months through buying Greek,...
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Gold, crude fall on euro zone crisis fears
Economic Times
KUALA LUMPUR: Gold, US crude and platinum led a decline in commodities in Asia on Wednesday as the threat of a worsening euro zone debt crisis sent investors fleeing to the dollar. Spot gold lost nearly one percent in its biggest drop in more than two ...
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Euro Zone crisis haunt global markets
City Journal.in
We are cautious on the overall Indian and global equity markets as problems in theeuro zone persists in-spite of change of government in Italy and Greece. However, India's long term fundamentals remain intact and therefore we advice investors to ...
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US Markets Topples on Worsening Euro-zone Crisis; Hang Seng Drops 2.00% (TGT ...
Galaxy Stocks
US Stock markets dropped during the Wednesday trading session as policymakers notified that Euro-zone's debt crisis presented risk to the global economy and on rising concerns the contagion was initiating to stretch to other European nations. ...
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Euro zone crisis to hit Russian industry
Reuters Africa
By John Bowker and Megan Davies MOSCOW, Nov 16 (Reuters) - Russian industry is exposed to a deepening euro zone crisis primarily via its steelmakers, which sell the alloy used in construction, carmaking and infrastructure to European companies facing a ...
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Eurozone crisis: Sir Humphrey will make a mess, Minister
Daily Mail
Others, including most notably the Germans, reject the idea since it could mean the euro breaking up in a whirlwind of inflation, as it probably would. Ex Greek Prime Minister George Papandreou has been forced to resign over the Euro crisis, ...
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Daily Mail
Croatia's Borrowing Costs Rise 24% on Fiscal, Euro Zone Crisis
BusinessWeek
“Growing public debt and higher risk premiums, reflecting events in the euro zone, are pushing up the borrowing costs,” Zdeslav Santic, the chief analyst at Societe Generale - Splitska Banka dd, said by phone.
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Analysis: Europe's debt crisis squeezes high margin food
Baltimore Sun
"With the euro zone crisis deepening into a slowdown across Europe, this has to be a worry for these group's high margin food products aimed at Europe's most affluent consumers," said one major investor with shares in Unilever. The group's margins last...
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Eurozone crisis: countries may be 'pushed out' of single currency
The Guardian
Traders and investors are becoming more and more fearful of the outlook for the eurozone, shown by two partially failed government bond auctions, fast rising borrowing costs for euro members and a flight to safety in Switzerland. ...
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The Guardian
EU survival: 'No guarantee of success' — RT
By RT
While Europe's financial elite struggles to tackle the eurozone crisis and find decent solutions to pull EU out of the debt trap, MEP Derk Yan Eppink tells RT what went wrong with the eurozone, and why integrating states is easier said than done. ... “For the south of Europe the euro is too expensive, it pushes them into a recession, if in Greece, in a depression, Italy in a recession and Spain in a recessions and Portugal in a recession – that is 40 per cent of the eurozone in trouble. ...
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XE.com - EU's Barroso: euro zone faces a truly systemic crisis
The euro zone faces a systemic crisis that will need a stronger commitment from all countries to resolve, European Commission President Jose Manuel Barroso said on Wednesday.
XE Forex News
Euro Zone: ECB Should Not Pick Up Tab for Euro Crisis: Official ...
The European Central Bank (ECB) should not pick up the tab for the euro zone crisis by default, ECB council member Yves Mersch told CNBC Wednesday.
CNBC Top News and Analysis
Euro zone looks to Italy, Greece moves to ease crisis ... - Rocket News
By Editor - Top News Stories
By James Mackenzie and Gareth Jones ROME/ATHENS | Wed Nov 16, 2011 5:10am EST ROME/ATHENS (Reuters) - The.
Rocket News
For the Opening Act: A Greek Tragedy :: Global Business Law Review
By Global
On October 27, 2011, after months of uncertainty and growing fears, European leaders reached a three-pronged agreement[1] designed to lower Greece's debt burden and prevent the crisis from escalating by spreading to other Eurozone states[ 2] and potentially crippling the European Union and ... [1] See Leaders Agree Eurozone Debt Deal after Late-Night Talks, Bbc News (Oct. 27, 2011, 5:30 ET), http://www.bbc.co.uk/news/world-europe-15472547 [hereinafter Leaders Agree]. ...
Global Business Law Review
Gold: Yellow metal trading lower with Euro-zone debt crisis in focus ...
By GCI Financial
Gold prices continued to remain under pressure, as fears that the Euro-zone's sovereign debt crisis is worsening prompted investors to sell their gold positions to raise liquidity. Additionally, a stronger U.S. dollar also weighed on gold prices. ...
GCI Forex News
The Great Euro Hype | Live Stock Trading News | Equities, Forex ...
By Shayne Heffernan
Some European leaders have complained that English-language news media are exaggerating the EuroZone crisis, likely because the introduction of the Euro has posed a big challenge against the USD, whose share as a reserve currency ...
Live Stock Trading News | Equities,...
Euro zone crisis by Xray | Business Cartoon | TOONPOOL
TOONPOOL Cartoons - Euro zone crisis by Xray, tagged euro, zonecrisiseuropean, financial, dept, bailout, nicolas, sarkozy, angela, merkel, silvio, berlusconi, mario, monti, lucas, papademos - Category Business - rated 3.67 / 5.00. ... Cartoon: Rupert Murdoch (small) by Xray tagged rupert,murdoch,news, · Rupert Murdoch · Cartoon: Silvio Berlusconi leading Italy (small) by Xray tagged silvio,berlusconi, · Silvio Be... Cartoon: Iran nuclear program (small) by Xray tagged iran,nuclear, ...
Newest Cartoons
Guangdong governor, eyeing promotion, talks straight on euro crisis ...
By Enid Tsui
beyondbrics, from the Financial Times, brings news and comment from more than 40 emerging economies, headed by China, India, Brazil, Russia, Mexico, Indonesia and South Africa. We cover politics and economics, finance and business - everything that makes markets ... “Challenges from EU debt crisis will force more enterprises to consider speeding up their transformation and upgrade. If the government guides them … and support them on key processes, transformation and ...
beyondbrics
Eurozone crisis: Live blog | The World | International affairs blog ...
By FT
In not so happy news, Mr Gaspar also said that unemployment would reach “very high” levels as the economy contracted by a forecast 4.9 per cent over 2011 and 2012. The jobless rate reached 12.4 per .... Italian banks have ramped up their reliance on the ECB for cheaper funding since the summer as the euro zone's third biggest economy was sucked ever deeper into the region's debt crisis and its lenders faced sharply higher refinancing costs. The Reuters source, who declined to ...
The World
Ex-European Commissioner: that's not a Euro crisis, that's a Eurozone
Inefficiency of European fiscal authorities caused "the most perfect financial storm ," says Peter Mandelson, former European Trade Commissioner. He explains ...
rt.com/business/news/euro-eurozone-crisis-authorities-181/
Eurozone crisis: ECB steps in to fight contagion - live | Business ...
Headlined "Euro bonds hit by mass sell-off", the piece includes an clutch of alarming quotes .... Eurozone crisis stokes tension between Britain and Germany ...
www.guardian.co.uk/.../eurozone-crisis-contagion-mario-mont...
Path out of euro zone crisis spells prolonged ... - Yahoo! News
From Yahoo! News: LONDON (Reuters) - Even if the euro zone manages to relieve the immediate financial pressures threatening it, weaker members in ...
news.yahoo.com/path-euro-zone-crisis-spells-prolonged-econ...
Euro zone must integrate to survive: EU's Barroso
By Gilbert Reilhac STRASBOURG, France (Reuters) - The euro zone faces a systemic crisis and will not survive unless it becomes more integrated and ...
www.reuters.com/.../us-eurozone-crisis-barroso-idUSTRE7AF...
Euro zone crisis pushes money into London property
The euro zone crisis has accelerated a trend already being driven by the weakness of the pound. "London is a place to put cash outside of the euro zone, ...
www.reuters.com/.../property-london-idUSL5E7MF1KN2011...
Euro zone crisis 'major threat to SA' - Business News | IOL Business ...
Despite the looming dangers, Marcus said “a meltdown in the euro zone” was not built into the assumptions of the bank's monetary policy committee (MPC). ...
www.iol.co.za/.../euro-zone-crisis-major-threat-to-sa-1.117914...
Eurozone Crisis: EFSF Buys its Own Bonds
The eurozone crisis just stepped into the realms of the absurd: the EFSF, supposedly the saviour of the euro and eurozone has been buying its own bonds. ...
www.forbes.com/.../eurozone-crisis-efsf-buys-its-own-bonds/
Eurozone crisis: Collapse of euro 'would leave Britain BETTER off ...
Iain Duncan Smith (pictured), the Cabinet's leading eurosceptic, is expected to urge Mr Cameron to 'stiffen his resolve' on the EU as experts predicted better ...
www.dailymail.co.uk/.../Eurozone-crisis-Collapse-euro-leave-...
Euro zone crisis 'hitting UK economy' - Arab News
LONDON: British treasury minister Danny Alexander said the euro zone debt crisiswas hitting business confidence, although the recent G20 summit in France ...
arabnews.com/economy/article530169.ece
Another eurozone crisis, and this time it's serious | Euro debt crisis ...
Another eurozone crisis, and this time it's serious. An imbalance in Europe's economies threatens the euro, but leaders are in denial. LAST UPDATED AT 14 23 ...
www.theweek.co.uk/.../another-eurozone-crisis-and-time-its-se...
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