Today: EUROZONE Crisis News, Nov 27, 2011

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Nov 27, 2011

EUROZONE Crisis News, Nov 27, 2011

UK Osborne: Stepped Up Contingency Planning Due To Euro-Zone Crisis
NASDAQ
"That doesn't mean that we are predicting any particular outcome, it just means we are ready for whatever the world, or the euro zone throws up," Osborne said during an interview on the BBC'sAndrew Marr Show. The chancellor said the euro-zone crisis ...
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Greece Faces 'Mortal Danger' Amid Deepening Euro-Zone Crisis -Fin Min
Wall Street Journal
In May 2010, Greece received an EUR110 billion bailout from its euro-zone partners and the IMF. But facing still prohibitively high borrowing costs on financial markets--and with the euro-zone debtcrisis spreading rapidly--Greece now wants to secure a ...
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US gets crash course on EU
Ninemsn
According to European officials, the main focus of the White House meeting will be the global economic situation. Leaders are expected to discuss responses to the eurozone debt crisis, even though the three guests from Brussels are playing only a minor ...
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Euro Zone Weighs Plan to Speed Fiscal Integration
Wall Street Journal
By MARCUS WALKER BERLIN—Euro-zone countries are weighing a new plan to accelerate the integration of their fiscal policies, people familiar with the matter said, as Europe's leaders race to convince investors they can resolve the region's debt crisis ...
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Wall Street Journal
Germany, France plan quick new Stability Pact: report
Reuters
BERLIN (Reuters) - German Chancellor Angela Merkel and French President Nicolas Sarkozy are planning more drastic means - including a quick new Stability Pact - to fight the euro zone sovereign debt crisis, Welt am Sonntag reported on Sunday. ...
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Nouriel Roubini names variants of possible eurozone collapse
«Market Leader» - news and previews making you rich.
They do not trust all those reassuring speeches made by EU leaders. All the eurozone members must understand that transferring their national problems to the European-wide level will only escalate the eurozone crisis. According to the American ...
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«Market Leader» - news and previews making you rich.
Austerity-hit Ireland is poster boy for EU
Herald Sun
While Irish anger has failed to boil over, there is widespread despondency, not least about the way the EU hierarchy is coping with the eurozone crisis. A recent poll showed 55 per cent of voters were dissatisfied with the bloc's leadership although 67 ...
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Global factors like euro crisis, slowdown in China, weak rupee fuel negative ...
Economic Times
Analysts believe the rupee can drop more if the Euro zone crisis deepens in the near future. The Reserve Bank of India (RBI) is considering some policy actions to strengthen the rupee. Analysts believe any policy action by the RBI may slow down the ...
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The euro trigger
Aljazeera.com
A look at Hungary's trip to the IMF, Armenia's export woes, and how the eurozone crisis prompted them both. From periphery to the core, the eurozone fallout is spreading. Hungary looks for more help from the International Monetary Fund (IMF) and the ...
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Aljazeera.com
Trailing merchant of death
IPPmedia
By Richard Mgamba Europe is battling the Euro zone crisis, trying to rescue Greece and Italy from economic collapse or recession, and the United States of America was also struggling with the ailing economy, stunted mainly by the World financial crunch ...
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Euro Zone Sovereign Debt Crisis- Biggest Tail Risk
Insurance News Net (press release)
In a poll conducted by Bank of America and Merrill Lynch this month, all fund managers picked theEuro Zone sovereign debt crisis as the biggest tail risk of the moment that might result in unprecedented financial chaos. InvestTechFX Fx Trading experts ...
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Britain steps up eurozone breakup plans
AFP
British Prime Minister David Cameron said earlier this month that his government was preparing for every scenario, as contagion from the debt crisis reached Italy. "Here in Britain, outside the euro, we must prepare for every eventuality -- and that is ...
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AFP
Oil Mixed On Euro Zone Debt, Wall Street
Kipp Report
No relief was offered from Europe's leaders, who remained divided over the region's debt crisis as Germany's resolute opposition to a joint euro zone bond continued. “There are talks and talks, but nothing happens,” said Thorbjoern Bak Jensen, ...
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Weekly Review and Outlook: Dollar Index Pressing Head and Shoulder Bottom ...
Action Forex
In addition to those downgrades, Fitch warned that France could lose its AAA ratings on as "further intensification of the eurozone crisis will generate contingent liabilities that will be crystallized onto the sovereign balance sheet". ...
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Eurozone must take steps towards fiscal union without delay
Xinhua
On Thursday, the leaders of Germany, France and Italy made tougher fiscal governance a top priority in their battle to stem the sovereign debt crisis, a day before the European Commission proposed regulations for tougher budgetary disciplines. ...
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Denizbank chief economist warns euro's days are numbered
Sunday's Zaman
Saruhan Özel, Denizbank's outspoken and often contrarian chief economist, is one such observer, arguing that until the current shape of the eurozone is dismantled, competitiveness and growth will be an elusive goal. “Solving” the European debt crisis ...
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Single currency still remains a valid goal
gulfnews.com
By Orlando Crowcroft, Business News Editor Some people feel that though the setback of the euro with the Eurozone crisis has been a dampener, the single GCC currency project is a valid one. When the deadline for the introduction of a GCC single ...
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gulfnews.com
Eurozone debt crisis: Britain faces 'second recession next year'
Daily Mail
By Daily Mail Reporter Britain will be hit with another recession next year as the Euro crisis deepens, international experts have warned the Government. Forecasts by the Organisation for Economic Development and Cooperation are said to suggest that ...
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Daily Mail
Will Mariano Rajoy Save Spain From Crisis?
«Market Leader» - news and previews making you rich.
As for Spain 's budget deficit, it is over 70 billion euro. Spain promised to curb the deficit so as not to exceed the 4.4% limit. Pay attention to the fact that the eurozonelimit is 3%. Some analysts anticipate 7% later this year. ...
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Time To Move To Cash?
Seeking Alpha
What was once largely considered a eurozone periphery problem only a few weeks ago is now being widely regarded as a eurozone core problem that threatens to bring down the euro currency altogether. Such an outcome would likely lead to a global banking ...
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Banks brace for eurozone defection
UPI.com
Analysts in a research note at Nomura bank said, "The eurozone financial crisis has entered a far more dangerous phase -- a euro(zone) breakup now appears probable, rather than possible." Banks in Europe and the United States have been divesting their ...
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Osborne 'will cap rail fares to ease squeeze on hard-pressed families'
Daily Mail
Whitehall sources say the Chancellor believes the eurozone crisis underlines the need for a tough stance to continue. Mr Osborne is however planning a series of measures to ease the burden on the 'squeezed middle' with moves to help commuters,...
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Daily Mail
Global Economic Pressures Continue To Push The Dollar Reluctantly Higher
Seeking Alpha
The last two swoons have sent the dollar soaring higher as the euro, and now the British pound, suffer particularly large hits. Even as the eurozone crisis supposedly gets worse than ever, the dollar index has not cracked the highs from last month. ...
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Will 'Euroquake' go seismic?
Asian Tribune
With the downgrade of the credit rating of Belgium by Standard & Poor's on Friday, the financialcrisis in the euro zone took yet another turn for the worse. Before that, debt of Hungary was downgraded to junk by Moody's. Italian debt, meanwhile ...
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Swiss central bank sees continued recession risk despite franc falling against ...
Washington Post
... central bank's move in September to put a lid on the currency's rise by setting a target exchange rate of 1.20 Swiss francs per euro reduced the risk of recession “but that does not mean that we now have an easy situation” amid the eurozone crisis. ...
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Oil prices post weekly losses on euro zone concerns, US data
Proactive Investors UK
Oil prices fell this week as fears that the European debt crisis is spiralling out of control and lacklustre US data outweighed concerns about the possibility of aEuropean ban on oil imports from Iran and a drop in US inventories. ...
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Proactive Investors UK
Forex debt syndication deals fall as euro zone crisis lingers
Business Standard
"Raising funds through syndicated loans has turned costlier, as most foreign banks have frozen or reduced their lending abroad, due to the euro zone crisis," Infrastructure Development Finance Corporation (IDFC) Senior Director for resources SJ Balesh ...
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Shrinking pool of safe havens
Reuters UK
We're starting to see signs of that developing in Europe," said John Greenwood, chief economist at Invesco Limited. "The euro zone crisis will rumble on and we will have a risk-on and risk-off and it's very difficult to focus on a single strategy."
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Market weakness expected to persist
BusinessWorld Online Edition
STOCKS ARE likely to continue consolidating this week amid a worsening euro zone debt crisisalthough month-end window dressing or bargain hunting might provide some lift. Stocks managed to gain last Friday after slumping for seven straight sessions ...
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Forex - Weekly outlook: November 28 - December 2
Forex Pros
The rise in Italian borrowing costs came after a disappointing auction of Italian government debt and fanned fears that the debt crisis in the region is deepening. The auction came two days after Germany, the euro zone's largest economy, ...
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India victim of Eurozone crisis: Pranab
Business Today
PTI Mumbai November 27, 2011 Indian Finance Minister Pranab Mukherjee on Saturday said India is a victim of the Eurozone crisis which is hurting export growth. "We are not the makers of that (Eurozone debt) crisis...but we are a victim of that crisis," ...
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Business Today
Commodity Corner: Why are gold and silver falling?
Hindu Business Line
The euro-zone's sovereign default risks and the interlinked banking crisis should have spurred gold prices on safe-haven buying. But from the high of $1921.15/ounce in September, gold price has fallen by 13 per cent as the crisis in Europe escalated. ...
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Latam stocks fall as eurozone worries weigh
Business Recorder (blog)
"Unfortunately the European problem has the capacity to complicate the future for world growth and capital flow." The euro zone sovereign debt crisis has worried investors for two years and with ever-larger economies in the crosshairs, doubts over the ...
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Italian bond yields above 8%
Financial Times
Olli Rehn, European Union economic and monetary affairs commissioner, on Friday told a hearing of the Italian parliament that contagion in the eurozone sovereign debtcrisis appeared to be spreading from the periphery to core countries. ...
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Financial Times
ECB independence threatened by govt pressure - Stark
Moneycontrol.com
EU paymaster Germany has blocked the two most widely touted exit routes from the sovereign debtcrisis -- massive ECB government bond purchases or joint issuance of euro zone debt. The ECB has already spent close to 200 billion euros ($267 billion) ...
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Where Is US And European Leadership?
Forbes
The market has given European leaders numerous chances to come up with some short and long term policy mix to keep the eurozone in tact. Today, it looks like at least one country, Greece, will leave the euro. The increase in European sovereign bond ...
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Forbes
Embassies plan for fallout
Sydney Morning Herald
LONDON: British embassies in the euro zone have been told to draw up plans to help British expatriates through the collapse of the single currency, amid renewed fears for Italy and Spain. Diplomats are preparing to help Britons abroad through a banking ...
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Stress tests show Indonesia's banks are OK
Arab News
Muliaman Hadad said he was very concerned about unease caused by the euro zone debt crisisspreading to consumer expectations, given Southeast Asia's largest economy is mostly driven by domestic demand from the world's fourth largest population. ...
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Gulf borrowers rush to market
The National
Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank have successfully sold $500 million of sukuk this month, with both banks tapping Islamic credit markets for funding as the euro zone's crisis rattles conventional bond markets. ...
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The National
International Forecaster November 2011 (#8) - Gold, Silver, Economy + More
Gold Seek
If the crisis continues to deepen Germany and the other euro zone nations will have to reexamine where they are headed. As we know all currencies and debt rates are increasing, which ties the banks of all the participants, including the solvent ones. ...
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Stock Markets plunge: Global uncertainty, inflation are causes for concern
Economic Times
The Euro zone crisis has spilled over from Greece to Italy. The bond prices have taken a beating amidst brewing political turmoil in Italy. The crisis could spread to France. The plummeting bond prices could be a blow for the region's financial and ...
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The Saga of Euro Zone Debt Crisis | TopNews United States
By Cristina Warne
The hitch is that even the common man is now being affected by the crisis and they are struggling with money problems. There is need for some efficient steps to be taken as soon as possible otherwise Euro zone might soon find itself in the ...
TopNews United States
Business English News 13 - The Euro Crisis | Business English Pod ...
By BEP
Business English Pod :: Learn Business English Online | A world recession has drawn closer after the G20 summit failed to agree to fresh financial help for distressed eurozone countries and debt-ridden Italy was forced to agree to IMF ...
Business English Pod :: Learn...
Eurozone crisis: “Worst ever” German debt auction sends euro ...
link: http://www.guardian.co.uk/business/blog/2011/nov/23/eurozone-crisis- ... 10.47am: The newsof Germany's dreadful debt auction (see last post has gone ...
www.indiacitys.com/.../eurozone-crisis-worst-ever-german-de...
Eurozone crisis: citizens to the rescue! | Brussels blog | News on the ...
Brussels blog from the Financial Times covering the EU's foreign and economic policies and news on the European Commission and European parliament.
blogs.ft.com/.../2011/11/eurozone-crisis-citizens-to-the-rescue/

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