FINANCIAL News, Money, Banks, Economic and Financial Crisis, Dec 06, 2011

Leaders Look to IMF, Again, as Euro Crisis Lingers New York Times One is a plan to have euro zone central banks lend money to the IMF The fund could then provide lines of credit to countries struggling to finance their debts, and could participate in fiscal monitoring. That plan is gaining support in Europe. ... See all stories on this topic »

Euro crisis no licence to print money The Australian Economic and financial policies must be co-ordinated more closely. And EU structural funds need to be targeted better to improve competitiveness. Third, we need to provide for the future and upgrade the monetary union to a stability union.... See all stories on this topic »

Geithner to add US weight to euro zone talks Reuters But the official added that loans from European national central banks could help satisfy demands that the region use more of its own money to tame the crisis. In effect, Geithner could agree not to block such an effort to boost IMF resources if he... See all stories on this topic »

Central banks act as euro zone crisis rages Reuters The emergency move by the US Federal Reserve, the European Central Bank, and the central banks of Japan, Britain, Canada and Switzerland recalled coordinated action to stabilise global markets in the 2008 financial crisis after the collapse of Lehman ... See all stories on this topic »

Euro Ministers Bid for Bigger IMF Role as Fund Falls Short BusinessWeek For more on the debt crisis, click on EXT4.) Nov. 30 (Bloomberg) -- Euro-areafinance ministers said they would seek a greater role for the International Monetary Fund and the European Central Bank in fighting the sovereign debt crisisafter conceding ... See all stories on this topic »

Mervyn King financial crisis: In 30 years, I've never heard such talk from a ... Daily Mail But in my several decades as a financial and economicscommentator – covering banking crises dating back to the early 1970s and the Latin American debt catastrophes of the early 1980s – I have never heard a sitting governor talk in such apocalyptic ... See all stories on this topic » Daily Mail

Germany Won't Prevent Bundesbank From Lending Crisis-Fighting Funds to IMF Bloomberg 8-9 European Union summit to lock in tighter economic cooperation as a first step to snuff out the crisis now in its third year. Euro-areafinance ministers gave the go-ahead last week for work on a proposal to recycle central bank loans through the ... See all stories on this topic » Bloomberg

Geithner to urge Europe leaders to take action Reuters Having euro zone governments provide bilateral loans to the IMF from national central banks could be one way for Europe to meet international demands that the region use more of its own money to tame the crisis. The IMF could then lend themoney to ... See all stories on this topic »

MONEY MARKETS-Financial stress remains elevated after S&P warning Reuters ... Key measures of financial risk remained at elevated levels with banksincreasingly reluctant to lend to each other on growing fears that the intractable euro zone debt crisis is beginning to take a toll on its biggest economiesGermany and France. ... See all stories on this topic »

Behind the financial crisis: A fraud investigator talks CBS News Anybody who characterizes investors in money market funds as greedy demonstrates a complete lack of knowledge of financial markets. by lesley1000 December 5, 2011 12:51 PM EST Bank of America better think twice before laying off its Internal Auditors. ... See all stories on this topic »

Debt crisis: as it happened December 2, 2011 Telegraph.co.uk Photo: Reuters Sarkozy promised that "a new economic cycle of debt reduction was beginning" that will "return the economy to work and production". Photo: AP German Finance Minister Wolfgang Schaeuble listens to Chancellor Angela Merkel on how to solve ... See all stories on this topic » Telegraph.co.uk

MONEY TALKS: Crisis-Resistant Australian Dollar A Threat To Economy Wall Street Journal By James Glynn A DOW JONES NEWSWIRES COLUMN SYDNEY (Dow Jones)--Even with far less fiscal and monetary ammunition to steady the economy than they had during the 2008 global financial crisis, Australian policy makers believe they're well-prepared in ... See all stories on this topic »

India may face its worst financial crisis in decades as rupee retreats Times of India MUMBAI: India may face its worst financial crisis in decades if it fails to stem a slide in the rupee, leaving the Reserve Bank of India (RBI) with a difficult choice over how to make best use of its limited reserves to maintain the confidence of ... See all stories on this topic »

Europe ramps up rescue fund, may turn to IMF Reuters Market stress has intensified," said Christian Noyer, France's central bankgovernor and a governing council member of the European Central Bank. "We are now looking at a true financial crisis -- that is a broad-based disruption infinancial markets," ... See all stories on this topic »

Europe Woes Hit Asia Trade Finance as ADB Loan Demand Soars BusinessWeek 19, Asian currencies tumbled the most since the region's financial crisis in 1998. Beck said another sign of distress is a jump in the number of companies refusing to do business without trade finance, where banks insure that exporters will get paid ... See all stories on this topic »

Was The Euro A Mistake To Begin With? (Part II) NPR (blog) However, judging by Mrs. Merkel's most recent strictures about the need to tie further financial support to the peripheral countries to their agreeing to sign up to long-term IMF fiscal retrenchment, I would not bet the ranch that the Euro will long... See all stories on this topic »

Europe looks to IMF again for help in euro crisis Charlotte Observer One is a plan to have eurozone central banks lend money to the IMF. The fund could then provide lines of credit to countries struggling to finance their debts and could participate in fiscal monitoring. "It is an easy solution because bilateral loans... See all stories on this topic »

Central Bank Dollar Liquidity Only Prolongs The Euro Debt Crisis Seeking Alpha China can't use its $3.2 trillion in foreign exchange reserves to “rescue” European nations and [China] “has done its part” to help the region deal with its financial crisis... The argument that China should rescue Europe does not stand. ... See all stories on this topic »

'Micro' Tax on Financial Trades Gains Advocates New York Times By STEVEN GREENHOUSE and GRAHAM BOWLEY They call it the Robin Hood tax — a tiny levy on trades in the financial markets that would take money from the banks and give it to the world's poor. And like the mythical hero of Sherwood Forest, it is ... See all stories on this topic » New York Times

Fed's Stress Tests Won't Fix a Flawed Financial System: View BusinessWeek 5 (Bloomberg) -- Regulators are making a valiant effort to ensure that big US bankscan survive the kind of shock the deepening European sovereign-debt crisis could deliver. If only the same were true for the broader US financial system. ... See all stories on this topic »

Prepare for a different financial landscape Reuters Blogs (blog) After the 2008-09 debacle of the global financial crisis, governments also want their banks to be better capitalized and more disciplined. And while implementation has been both far from consistent and less than fully effective, the intention is clear: ... See all stories on this topic » Reuters Blogs (blog)

European stocks rebound after China loosens monetary policy AFP While they were unable to increase the European Financial Stability Facility, they did give it new powers and called on help from the International Monetary Fund (IMF). "Finance ministers convened again in Brussels for another jolly discussion about ... See all stories on this topic » AFP

Factbox: Euro zone faces crucial week on debt crisis Reuters PARIS (Reuters) - The euro zone faces a crucial week that could go a long way to determining its future, with financial markets on tenterhooks after a deteriorating two-year sovereign debt crisis. Following is a breakdown of the key events up to and ... See all stories on this topic »

China braces as European crisis adds to strains The Associated Press Others think the hit could be much smaller because China's economy is less dependent on exports than it was before the 2008 global financial crisis. Exports now make up about a quarter of China's gross domestic product, down from about 40 percent in ... See all stories on this topic »

Insight: In euro zone crisis, companies plan for the unthinkable Reuters Bank of America Corp added the European debt crisis into its regular list of risk factors it advises investors to be aware of: "There remains considerable uncertainty as to future developments in the European debt crisis and the impact on financial... See all stories on this topic »

EU can't depend on IMF lifeline TheChronicleHerald.ca One is a plan to have eurozone central banks lend money to the IMF. The fund could then provide lines of credit to countries struggling to finance their debts, and could participate in fiscal monitoring. That plan is gaining support in Europe. ... See all stories on this topic »

Secrets of the Bailout, Now Told New York Times More Photos » By GRETCHEN MORGENSON A FRESH account emerged last week about the magnitude of financial aid that the Federal Reserve bestowed on big banks during the 2008-09 creditcrisis. The report came from Bloomberg News, which had to mount a... See all stories on this topic » New York Times

Economic reports, central banks' actions fuel huge stock rally Los Angeles Times (Spencer Platt, Getty Images / December 1, 2011) By Nathaniel Popper, Los Angeles Times Dramatic efforts by central banks to pump more money into the global financial system are allowing investors to turn their attention back to more promising signals ... See all stories on this topic » Los Angeles Times

China And The Two Euro Crises: Why Investors Should Look At European Stocks Seeking Alpha The IMF came back empty handed: Chinese are not fools - they knew their moneywould only delay the inevitable and would not be repaid. Third, the Chinese did not participate in the recent central bank efforts to save the European banks by making it ... See all stories on this topic »

The Fed's Critics Are Wrong: We Need to Avert Depression Newsweek What was the root cause of the financial crisis? Greed? Deregulation? No. It was ignorance of financial history. Last week the world's central banks—including the American Federal Reserve—acted in concert to try to prevent history from repeating ... See all stories on this topic » Newsweek

Coming days “crucial” to resolve EU crisis Malta Independent Online The central banks of the world's largest economies, meanwhile, have intervened to shore up the world's financial system. The European Central Bank and its counterparts in the US, UK, Canada, Japan and Switzerland agreed to make it easier for banks to ... See all stories on this topic »

Heroic Ireland can do no more, it is up to Europe now Telegraph.co.uk A year after spiraling losses from Anglo Irish Bank pushed the Irish state over the edge and into the arms of the EU-ECB-IMF Troika, the economy has at least stabilized - unlike the downward spirals in Greece or Portugal, or aborted recoveries in Spain ... See all stories on this topic »

'Financial terrorists behind EU crisis' Press TV That's the solution because they are committing acts of financialterrorists and they're starving people. The price of food and the price of energy are skyrocketing because all these banks are printingmoney to pay their Christmas bonuses. ... See all stories on this topic » Press TV

Fiat Money in Crisis Wall Street Journal But the protesters will argue that the crisis started in the financial sphere, and aren't financial markets the last bastion of pure capitalism? Nothing could be further from the truth. Look at what we use as money. The money of capitalism has always ... See all stories on this topic »

Swedish Bonds Safer Than German Debt as Europe Crisis Upends Market Logic Bloomberg The two countries also boast some of the most equal income distributions in the world, according to the Organization forEconomic Cooperation and Development. Sweden's financialregulator will require the country's biggest banks to target capital ... See all stories on this topic » Bloomberg

Will Europe Save Its Currency, Economy, and Even the World? Minyanville.com More radical proposals could come from the European leadership summit next week and from Treasury Secretary Timothy Geithner's arm-twisting visits withfinancial officials from Germany, France, Spain, and Italy. Fiscal integration of the European Union ... See all stories on this topic »

Dutch Prime Minister Sees 'No Easy Solution' Wall Street Journal By DAVID WESSEL WASHINGTON—The Dutch prime minister on Tuesday said he continues to back the European Central Bank'sreluctance to step up purchases of Italian and Spanish government bonds, despite spreading turmoil in European financial markets. ... See all stories on this topic » Wall Street Journal

Chinese banks face liquidity crisis FinanceAsia Before the 2008 to 2009 financial crisis, the scale of new deposits entering the system each year was so immense that whether a loan was repaid or not often had little impact on banks' ability to meet their own obligations. Whether NPLs were 1% or 20%, ... See all stories on this topic »

Killing the Euro New York Times But even optimists now see Europe as headed for recession, while pessimists warn that the euro may become the epicenter of another global financial crisis. How did things go so wrong? The answer you hear all the time is that the euro crisis was caused ... See all stories on this topic » New York Times

Euro finance ministers try to avert crisis BERLIN – As Italy sank deeper into crisis Tuesday, eurozone finance ministers met in ... "We're actually really running out of money," said Bert Van Roosebeke,... from the International Monetary Fund, or channel European Central Bankfunds or ... Germany, the eurozone's biggest and most fiscally sound economy, wants a ... www.usatoday.com/money/world/story/2011-11-29/.../1

Euro Central Banks Seen Providing Up to $270 Billion via IMF “We're looking for a maximum reinforcement with the IMF and the central bank,” Belgian Finance Minister Didier Reynders told reporters Nov. 30. ... www.businessweek.com/.../euro-central-banks-seen-providing...

IMF acting behind the scenes in euro zone crisis IMF's Lagarde: crisis contagion risk has materialized* IMF worried about ... Centralbanks act as euro zone crisis rages ... up support for greater cooperation in addressing the global financial turmoil, ... News on Saturday, used the occasion to urge Europe to address the crisis with "fiscal consolidation and structural reforms." ... www.reuters.com/.../imf-brazil-idUSN1E7B10AQ20111202

World central banks launch co-ordinated action to fight financial ... World central banks launch co-ordinated action to fight financial crisis - 30 ...Whatever our creditors [the EU and IMF] say they're not working." ... 5.34pm: Analysts at Capital Economics have explained why central banks acted today. ...on the central bank news, remarkably little has been happening in the euro crisis. But not ... www.guardian.co.uk/.../eurozone-crisis-finance-ministers-imf

Europe leans on IMF as crisis plan falls short - Nov. 30 ... - CNN Money Finance ministers from Greece, Germany and the newly appointed Prime ... latest talk of the IMF acting as an intermediary for the European Central Bank comes as... in the new offerings, but stressed that it will take time for the leverage to work.... on the ECB against providing direct support for troubled euro area economies.... money.cnn.com/2011/11/30/news/.../europe.../index.htm

NewsDaily: Analysis: Deal building to pump up IMF to handle ... IMF members agree the global lender needs more money to handle the fallout ...looking at providing bilateral loans to the IMF from national central banks, ... Thecrisis has already engulfed some of the area's largest economies. Italy has been in preliminary talks about possible IMF financial support and ... More Top News... www.newsdaily.com/stories/tre7at33g-us-imf-resources/

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