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Feb 20, 2012

EUROZONE Debt Crisis News, Feb 20, 2012

Greece awaits bailout decision but issues remain
Boston.com
By Gabriele Steinhauser and Sarah DiLorenzo AP Business Writers / February 20, 2012 BRUSSELS—Eurozonegovernments are due to sign off on Monday a long-awaited rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, ...
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Europe Finance Ministers Set to Approve New Greek Bailout
Voice of America
February 20, 2012 Europe Finance Ministers Set to Approve New Greek Bailout VOA News Eurozone finance ministers are set to approve a new $171 billion bailout for Greece when they meet in Brussels on Monday. French Finance Minister Francois Baroin said ...
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Greece Moves Toward Second Bailout as Default Spooks Europe
Bloomberg
Enlarge image Greece Moves Toward Second Bailout Greece Moves Toward Second Bailout Oli Scarff/Getty Images Graffiti depicting a young girl reaching for stars on a wall in Athens, on Feb. 18, 2012. Play Video Play Video Enlarge image Greek Rescue in ...
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Bloomberg
RPT-GLOBAL MARKETS WEEKAHEAD- Growth-led rally fights Greek headwind
Reuters
* Hopes high for end to Greek crisis * Risk rally gains pace * Euro zoneleading indicators eyed By Richard Hubbard LONDON, Feb 17 (Reuters) - Greece will once again be the single biggest risk factor overshadowingfinancial markets in the coming week, ...
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Greece awaits bailout decision, but issues remain over spending controls, debt ...
CanadianBusiness.com
By Gabriele Steinhauser,Sarah Dilorenzo, AP | February 20, 2012Greeces' Finance Minister Evangelos Venizelos arrives for a cabinet meeting at the Greek Parliament in Athens on Saturday, Feb. 18 2012. (AP Photo/Kostas Tsironis) BRUSSELS - Eurozone ...
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Italy, Britain urge more EU focus on growth
Reuters
It was the second time in a month that Italian Prime Minister Mario Monti, an economist praised by German Chancellor Angela Merkel for his strong measures to handle Rome's own debt crisis, has criticised the northEuropean approach on budgets.
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German stocks - Factors to watch on February 20
Reuters
The following are some of the factors that may move German stocks:EURO ZONE DEBT CRISIS Euro zone finance ministers are expected to approve a second bailout for Greece on Monday, a move they hope will draw a line under months of turmoil that has ...
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Europe Factors-Shares set to rise after China easing
Reuters UK
(Recasts with futures, adds quotes, details, company news; updates snapshot table) PARIS, Feb 20 (Reuters) - European stock index futures rose on Monday, boosted by China's move to increase banks' lending capacity to combat slowing growth in the ...
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Greece and the bridge of fools
Reuters
A decision is expected on Monday when euro zone finance ministers meet. Clearing this hurdle would open the way for Greece to take on the still more difficult task of restructuring its economy - far beyond the initial steps it has taken so far.
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Chart of the Day: the life support keeping markets higher
Citywire.co.uk
But what happens when investor attention turns away from theEuropean bank lending scheme and back to the eurozone crisis? by Chris Marshall on Feb 20, 2012 at 11:54 A big number and markets should continue to rally. Too big though and it'll send out a ...
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Could Greece be another Lehman's moment?
Citywire.co.uk
by Dylan Lobo on Feb 20, 2012 at 07:42 The chances of Greek default in the first quarter are growing but will its impact be as severe as the collapse of Lehmans in 2008? With Greek due to repay €14.5 billion ofdebt by 20 March the Hellenic Republic's ...
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$A unmoved ahead of euro zone meeting
Sky News Australia
... Monday February 20, 2012 The Australian dollar is treading water, unmoved from its last close, ignoring positive developments in China because of uncertainty ahead of a key euro zone meeting to resolve Greece's debt crisis. The region's finance ...
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Europe stock rally faces a perilous road
CNN International
By Ben Rooney @CNNMoneyMarkets February 20, 2012: 8:11 AM ETEuropean stocks have had a nice run but the road ahead is fraught with risk. Click photo for latest world market data. NEW YORK (CNNMoney) --European stocks have rallied this year on hopes ...
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Spain Sinks Deeper Into Periphery as Debt Surges: Euro Credit
San Francisco Chronicle
Feb. 20 (Bloomberg) -- Spain's debt load is set to double from where it was when Europe's sovereign debt crisis began, eroding the economicadvantages that distinguished it from the region's periphery and helped shield it from Greek contagion.
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Bondholders Could Lose Big In Greece Bailout Plan
North Country Public Radio
by Jim Zarroli Feb 20, 2012 (Morning Edition) — The resolution of the Greek debt crisis will depend, in part, on whether bondholders can be persuaded to take big losses on their holdings. At this point, it appears that most are willing to take their ...
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Global Markets Overview - 02/20/2012
International Business Times AU
By Christine Gaylican | February 20, 2012 9:51 AM EST The Dow Jones Industrial Average pushed higher for the second day after European leaders signaled progress toward an agreement on a second bailout for Greece. Both the Dow and Standard & Poor's 500 ...
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International Business Times AU
World Bank Group Helps Eastern Europe and Central Asia Improve DebtRecovery ...
PressZoom (press release)
Vienna, Austria, February 20, 2012—The World Bank Group at a workshop in Vienna last week brought together policy makers, experts, bankers and regulators from across Eastern Europe and Central Asia to address debt recovery and business insolvency in ...
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Implications of Weekend Developments in China and Greece
Forex Pros
By Marc Chandler | Market Overview | Feb 20, 2012 04:15AM GMT There are two sets of important developments over the weekend that will influence the global capital markets. The first is in China and the second in Europe. China cut reserve requirements ...
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Stocks rally on likely Greek bailout
Sky News Australia
Stocks rally on likely Greek bailout Updated: 18:40, Monday February 20,2012 The Australian share market rallied over one per cent on a raft of corporate earnings results and the likelihood of euro zone financeministers approving another bailout for ...
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Precious Metals Fundamentals: February 20, 2012
Forex Pros
By ecPulse | Commodities | Feb 20, 2012 09:14AM GMT With the start of this week the shiny metal returns to gain momentum, where we can see the metal advanced since the opening in Asia, supported by demand as a hedge against uncertainty, where investors ...
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Greek Default Therapy
Daily Reckoning - Australian Edition
By Eric J. Fry • February 20th, 2012 • Related Articles • Filed Under The Greek crisis has been solved...again. Let's see...that's probably about 24 "solutions" during the last 24 months. But since these solutions never seem to solve anything, ...
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Macroeconomic imbalances: Making sense of statistics
Europolitics.info
By Sarah Collins | Monday 20 February 2012 A common accusation levelled at the euro is that in its first ten years, it masked inherent differences between its members; differences - or imbalances - which have exacerbated bank and fiscal problems and ...
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Crude Oil Analysis for the Week of February 20, 2012
OilPrice.com
The action by Iran hasn't gone into effect yet, but it couldn't have come at a worse time as many of the countries targeted are struggling financially due to the debt crisis and severe austerity measures. It now appears that the EU's plan to punish ...
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World Week Ahead: Greek bailout looms
Scoop.co.nz (press release)
World Week Ahead: Greek bailout looms By Margreet Dietz Feb. 20(BusinessDesk) – It's G-Day for the euro zone. On Monday, European finance ministers will meet in Brussels for what is widely expected to be approval of a second bailout for Greece.
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Greek economy faces critical week
Stuff.co.nz
Only if Athens meets these tests will Greece win a second round of international loans from the EU and IMF to avert a disorderly default,financial officials say. A decision is expected on Monday when euro zone finance ministers meet.
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Frontrunning: February 20 | ZeroHedge
By Tyler Durden
Germany FinMin: More Talks Needed On 2nd Greece Bailout Plan (MarketNews)You stand up to the bankers, you win - Icelandic Anger Bringing Record Debt Relief in Best Crisis Recovery Story (Bloomberg)Iranian ships reach Syria, China ... funds for a second Greek aid package that is expected to be approved by euro-zone financeministers on Monday, leaving the bloc's governments to provide a much bigger share of the loans than they did in the euro zone's three earlier bailouts.
ZeroHedge
Icelandic Anger Bringing Record Debt Relief in Best Crisis Recovery ...
By Infinite
Icelandic Anger Bringing Record Debt Relief in Best Crisis Recovery Story (Bloomberg, Feb202012): Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country's economic and financial collapse are reaping the benefits of their anger. Since the ... Iceland's economy will this year outgrow theeuro area and the developed world on average, the Organization forEconomic Cooperation and Development estimates. It costs about the ...
Infinite Unknown
EU debt crisis: Decision day for Greece | Investing | Financial Post
Eurozone finance ministers are expected to approve a second bailout for Greece today, but no one expects the package to resolve Greece'seconomic problems. ... Decision day for Greece. Reuters Feb 202012 – 8:34 AM ET. Bloomberg. Comments · Email · Twitter. By Luke ... Under one crucial element of the deal, Greece will have around 100 billion eurosof debt written off via a restructuring involving private-sector holders of Greek government bonds. Banks and insurers will swap ...
FP Top Stories List
Beijing SHOTS » Xi reiterates support for Europe
By maxin
by maxin on February 202012. Vice-president offers help to tackle debt crisis as he visits Ireland. SHANNON, Ireland – Vice-President Xi Jinping reiterated China's support for Europe as it addresses the debt crisiswhen he arrived in Ireland ... “ China will continue to support, in its own way, efforts of the EU, the European Central Bank and the International Monetary Fund to address the European debt problem,” Xi said in an interview with the Irish Times at the start of his trip to Ireland.
Beijing SHOTS
Eurozone crisis: live blog | The World ... - Blogs - Financial Times
By FT
Eurozone crisis: live blog. February 202012 9:50 am by FT ... It's up to Greece and the troika (of the ECB, the IMF and the EuropeanCommission) to say whether this has been done and for us it is a no until Greece has done so. If Greece lives up to all its obligations, then the Netherlands ... It will also be key if ministers want to get from 2020 debtlevels that the troika has estimated will hit 129 per cent of economicoutput closer to the 120 per cent the IMF wants. Maria Fekter, Austrian ...
The World
Accrued Interest: Even With New Greek Debt Deal, Europe Faces ...
By Accrued Interest
While it appears as though the worst is passed, that the Euro is safe and that the EU powerhouses will finally pull the continent through theeconomic downturn, news from Europe continues to put a wrench into any rosy forecasts. ... Even if Greece can get austerity cuts passed and make turn a bailout package into reality, a few larger questions looms on the horizon. Will the Eurozone recover? Can the continent handle anotherdebt crisis? Considering the rapid pace at which ...
Accrued Interest
Japan, China to Help Europe Solve Crisis | China Media
By China Media News
Japan, China to Help Europe Solve CrisisFebruary 202012. By China Media News. Japan's Finance Minister Jun Azumi. Jun Azumi, Japan'sfinance minister. Photographer: Kiyoshi Ota/Bloomberg. JapaneseFinance Minister Jun Azumi said his ... a Feb. 25-26 meeting of G-20finance chiefs and central bankers. “Japan and China are prepared to support the IMF's important role in addressing the European sovereigndebt crisis, on the basis of further efforts by the EU and Euro area ...
China Media
NewsDaily: German presidency row shakes Merkel's coalition
By Erik Kirschbaum
BERLIN, Feb202012 (Reuters) — Angela Merkel's conservatives accused their coalition partner on Monday of a "massive breach of trust" in backing opposition candidate Joachim Gauck for the German presidency, a move which forced the chancellor to support ... If Merkel had not backed down and agreed to support Gauck, she would have faced a fight with opposition parties and within her coalition that might have become a major distraction in the midst of the euro zone debt crisis.
NewsDaily: Top Headlines
GREEK 'DEAL': It might be 'agreed' today, but it won't be done. | The ...
By John Ward
Japan and China have agreed, it seems, that they will jointly respond to any funding request from the IMF for help with the eurozone crisis. ...http://www.telegraph.co.uk/finance/debt-crisis-live/9091734/Debt-crisis-and-Greek-bail-out-live.html ... February 202012 at 11:17 am. It's the same in Spain, people are desperate to stay in the Euro, whatever the cost. I think they see the Euro as some sort of passport to a higher living standard, less corruption (!) and better personal financial ...
The Slog
Debts, promises and coups « Greek Left Review
By The grapher
I have chronicled as best as I could the trials and tribulations of Greek society and its economy, both at Histologion and the European Tribune over the past two disastrous years, and noted the disconnect of the persons in charge of “fixing” the Greek economy with .... It seems that the Greek debacle, the realisation of the extent to which European elites are ready to use the debt crisis as an instrument for the neoliberal transformation of the EU has stirred popular forces around the world.
Greek Left Review
Greece awaits bailout decision but issues remain
18 2012. (AP Photo/Kostas Tsironis) The euro sign is seen on the side of the building of EU headquarters in Brussels on Monday, Feb. 20,2012.
www.ajc.com/.../greece-awaits-bailout-decision-1355780.html
Eurozone crisis live: Dutch talk tough over Greek rescue package ...
Eurozone finance ministers will meet in Brussels this afternoon to decide ... Other European markets also posted gains, with the Spanish IBEX jumping .... Christine Lagarde arrives for a meeting of eurozoneministers in Brussels on Monday, Feb. ... The long history of flawed fixes to the debt crisis unveiled over the past three ...
www.guardian.co.uk/business/2012/feb/20/debt-crisis-euro
Debt crisis: as it happened February 17, 2012 - Telegraph
Monday 20 February 2012. | Subscribe · Telegraph.co. ... Adam Posen said that the eurozone crisis could still throw the UK off 'horribly'. Image 1 of 5. Adam Posen ... German finance minister: 'euro is safe and stable' • ECB's Greek bond swap ...
www.telegraph.co.uk/.../Debt-crisis-as-it-happened-February-1...
Factbox: Euro zone debt crisis: coming events - Yahoo! Finance
Finance: Following are coming events linked to the debt crisis in theeuro zone: ... Mon, Feb 20, 2012, 3:02 AM EST - U.S. Markets closed for Washington's Birthday ... February 20 - Eurogroup meeting of euro zone finance ministers in Brussels.
finance.yahoo.com/.../factbox-euro-zone-debt-crisis-1127360...
European Debt Crisis: In Spain, Soaring Joblessness Fuels Barter ...
First Posted: 02/20/2012 6:01 am Updated: 02/20/2012 10:06 am ...MADRID, Feb 20 (Reuters) - It's 10.30 on a chilly winter's morning in central Madrid and .... take off in other parts of the euro zone, which like Spain are sinking into recession. ... European Debt Crisis: FinancialTroubles Pose Challenge To European Unity ...
www.huffingtonpost.com/.../european-debt-crisis_n_1288486...
Crisis Live Blog: Bailout Deal Close - The Euro Crisis - WSJ
Live Blogging Now; February 20, 2012, 8:13 AM ... Finance ministers from the 17 euro-zone countries will meet in Brussels at 1400 GMT (0900 ... that will slash Greece's debt burden and allow it to stay in theeuro zone, albeit under a degree of ...
blogs.wsj.com/.../europe-crisis-live-blog-greek-bailout-deal-cl...
The euro zone crisis: Political commitment | The Economist
Monday February 20th 2012 ... The euro zone crisis ... We can argue that voters have the right to renounce debts taken out in their name. ....All those abnormal returns in the financial markets in the last decade need to unwind somehow, ...
www.economist.com/blogs/buttonwood/.../euro-zone-crisis-1
EU Ministers Circle in on Greek Rescue as Crisis Disputes Linger ...
European officials attempting to fend off the euro area's first sovereign default will try to settle ... Monday February 20, 2012 ... (For more on Europe's debt crisis, see EXT4.) Feb. 20 (Bloomberg) -- Europeanofficials attempting to fend off ... Finance ministers meet in Brussels at 3:30 p.m., joining Greece's prime minister, Lucas ...
www.businessweek.com/.../eu-ministers-circle-in-on-greek-res...
Japan, China to coordinate response on euro zone - TODAY
Monday, February 20, 2012 ... (S$755 billion) in new resources to help deal with the euro zone debt crisis but countries outside of the 17-country euro bloc want ...
www.todayonline.com/.../Japan,-China-to-coordinate-response...
China's Xi Committed To Solving Euro Debt Crisis -Irish Deputy PM
February 20, 2012 05:05 am US/Eastern ... it clear that China is "hugely interested" in Europe's economic recovery and in solving the euro-zone debt crisis.
www.4-traders.com/.../China-s-Xi-Committed-To-Solving-Eur..

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