Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 27, 2011

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Nov 27, 2011

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Nov 27, 2011

IMF Urged To Step Up Response To Debt Crisis
NASDAQ
BERLIN -- The finance ministers of Germanythe Netherlands and Finland Friday asked for an increased role of the International Monetary Fund to combat the euro-zone debt crisis in addition to efforts by the currency zone alone. ...
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Hungary May Have to Give in to IMF Conditions for Loan
Bloomberg
Hungary was granted a 20 billion-euro ($27 billion) Stand- By Agreement by the IMF and the European Union in 2008 after Lehman Brothers Holding Inc. (LEHMQ)'s collapse caused its debt markets to freeze and the forint to tumble. IMF loans of that kind ...
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Swaps Boost Yen Debt Demand as S&P Joins IMF Warning to Noda: Japan Credit
Bloomberg
By Masaki Kondo and Kazumi Miura - Fri Nov 25 06:03:38 GMT 2011 Currency-swap spreads are offering the biggest discount on yen loans in at least 14 years, supporting demand for Japan's bonds even as Standard & Poor's and the International Monetary Fund ...
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Around the world after a spending craze
Bangkok Post
To put this in perspective, Thailand, which had a population of around 65 million in 1997, ran up debts of $80 billion before the financial crisis, receiving $17 billion in IMFaid. How did this happen? As Lewis explains, the Greek government ...
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Bangkok Post
Hungary to probe possible currency speculation
BusinessWeek
Since the end of September, the government has forced banks to allow debtors to make a one-off payment of their foreign currency loans at exchange rates far below market rates, leading to huge losses for the banks, several of which have appealed their ...
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IMF Warns China's Banks
Forbes
During the initial stages of the last Chinese banking crisis, institutional analysts consistently underestimated the extent of nonperforming loans, and there is little reason to think they are more realistic this time around, especially because of the ...
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Forbes
Saturday Papers: Thomas Cook secures new loan deal
Citywire.co.uk
Financial Times: Allied Irish Banks is drawing up plans to sell €1.4 billion of property loans made on homes, offices and shops across Ireland. The Daily Telegraph: A British court has ordered the Office of Fair Trading to suspend its controversial ...
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Euro zone no closer to "bazooka-style" rescue fund
Reuters
"They need to act to prevent the euro crisis from spinning out of control," said Luc Everaert, theInternational Monetary Fund's assistant director for the euro area and EU policies. "It's clear they need to have enough real money available to inspire ...
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Brendan Keenan: Like Butch and Sundance, eurozone must leap as one
Irish Independent
In an event that would have been unthinkable even three weeks ago, not enough institutions could be found to give the German government €6bn in 10-year loans. It is all part of the euro crisis, but a new and even more troubling part. ...
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Euro Gains As ECB And IMF Agree To Lend To Troubled Euro Zone Countries
Forex Pros
The deal entailed that the ECB would lend to the IMF, and in turn the IMF will allocate the loans to each country. The euro lost some of its strength to the dollar later in the day as the currency pair slid back down to 1.3495 on the back of risk ...
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Depression will last generations
Irish Independent
Circulating capital will increase the overall money supply. Then we might avoid a full-blown depression. If the Eurocrats faced up to the European banking crisis three years ago they could have issued eurobonds before financial markets became so ...
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Austria forced to defend AAA rating
Ninemsn
... they are sitting under a mountain of loans which, if they go bad, could land the banks in serious trouble, forcing the Austrian government to ride to the rescue with billions of euros in taxpayers'money. Already there are signs that the crisis is ...
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EUR/USD Decline Slows Even As EMU Stalemate Persists
Action Forex
ECB interventions and rumours that the IMF, backed by ECB loans, would come to the rescue of debt-strapped countries helped non-core EMU bonds, while the German bonds (and US Treasuries) corrected lower. The moves were insignificant in a broader ...
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Daily Report: EUR/USD, GBP/USD, USD/JPY and USD/CAD
Forex Pros
... with the International Monetary Fund in order to establish a mechanism for the European Central Bank to issue loans needed to cover bailouts. The final decision will be announced on December 9th at the European Union Summit. The 17-nation currency ...
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£20bn credit easing plan is Osborne's 'game-changer'
Politics.co.uk
It mirrors the credit easing scheme launched by Labour after the 2008 financial crisisand one currently operated by the EU-run European Investment Bank. The government is only liable if the banks offering the loans collapse. ...
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Politics.co.uk
Adjustment Needed Now
Credit Writedowns
The sad irony of Hungary's situation is that, just as the country faces the pressure of paying back the first installment of IMF loans received at the initial phases of thecrisis, there is talk about the fund coming back in. ...
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Credit Writedowns
Banking Newsletter - November 21 to November 25, 2011
India Infoline.com
The global financial scenario continues to be volatile and uncertain. The Global Financial Stability Report of the International Monetary Fund states that the financial crisis is deepening. The indications are that we may have to face prolonged ...
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Prepare for riots in euro collapse, Foreign Office warns
Telegraph.co.uk
The yield on new six-month loans was 6.5 per cent, nearly double last month's rate. And the yield on outstanding two-year loans was 7.8 per cent, well above the level considered unsustainable. Italy's new government will have to sell more than EURO 30...
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Telegraph.co.uk
Cameron Pledges 'Massive' Credit-Easing Program to Spur Growth
BusinessWeek
Credit easing, proposed by Osborne in early October, envisages the Treasury selling bills and using the proceeds to buy billions of pounds of corporate bonds or packages of securitized loans made to small companies, possibly using the Bank of England ...
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China's banks use gold as legal currency
Press TV
China put industrial loans here from five percent last year all the way up to 9 percent this year. So, you're bound to get a slowdown, and it's good that we got a slowdown in China this year. But as we talk, you know, “ghost cities” is another topic ...
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Press TV
Belarus jails rights activist for tax evasion
Reuters India
The outcome, in the face of fierce condemnation of the trial in the West, supported the view that Lukashenko has written off relations with the EU for now and is not relying much on Western help to see him through a financial crisis. With fresh loans ...
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Market Sentiment Favors US Dollar
NuWire Investor
The details of the kind of loans and conditions the IMF will lend will be known later on, but likely disagreements over conditionality may delay the deal beyond January or February. Nevertheless, the outlook for Hungary is likely to be dominated by the ...
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IMF Says Hong Kong Credit Growth Risks Bad Loans Amid Crisis ...
IMF Says Hong Kong Credit Growth Risks Bad Loans Amid Crisis. ... growing at an extraordinary pace, particularly for loans in foreign currency,” the IMF said in ...
mobile.bloomberg.com/.../hong-kong-credit-growth-risks-bad...

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