Today: FINANCIAL News, Money, Banks, Economic and Financial Crisis, Feb 21, 2012

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Feb 21, 2012

FINANCIAL News, Money, Banks, Economic and Financial Crisis, Feb 21, 2012

Greek Rescue Leaves Europe Default Risk Alive
Bloomberg
21, 2012. Play Video Play Video Play Video Play Video Enlarge image Greece Financial Crisis Greece Financial CrisisKostas Tsironis/AP A protester during an anti-austerity rally outside the Greek parliament in Athens on Feb. 19, 2012.
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Bloomberg
Greece Wins Second Bailout as European Leaders Choose Aid Over Default
Bloomberg
20, 2012. Play Video Play Video Play Video Play Video Play Video Enlarge image Greece Wins Second Bailout Greece Wins Second Bailout Jock Fistick/Bloomberg Steven Vanackere, Belgium's finance minister, left, Francois Baroin, France'sfinance minister, ...
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Bloomberg
Greece secures bailout to avoid debt default
USA TODAY
By Virginia Mayo, AP Luxembourg's Prime Minister Jean-Claude Juncker rubs his face after a 12-hour meeting of eurozonefinance ministers at the EU Council building in Brussels on Tuesday, Feb. 21, 2012. By Virginia Mayo, AP Luxembourg's Prime Minister ...
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USA TODAY
Dow breaks 13000 for first time since '08 crisis
Boston.com
(AP Photo/Seth Wenig) By Christina Rexrode AP Business Writer / February 21, 2012 NEW YORK—The Dow Jones industrial average crossed 13000 on Tuesday for the first time since May 2008, when the Lehman Brothers investment bankwas solvent, unemployment ...
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Boston.com
World stocks down despite deal to end Greek crisis
Palm Beach Post
20, 2012 in Shanghai, China. Asian stock markets climbed Monday after China moved to boost its economy by freeing upbank lending and hopes grew that Greece will clinch the aid it needs to avoid bankruptcy. (AP Photo) Greek Finance Minister Evangelos ...
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Palm Beach Post
Most Chinese Stocks Rise on Easing Liquidity, Greek Bailout Deal
BusinessWeek
By Bloomberg News Feb. 21 (Bloomberg) -- Most China stocks rose after European finance ministers reached an agreement on a Greek aid package and investors speculated the Chinese government will adopt more measures to ease a credit crunch.
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Greece Reaches Agreement on Biggest Sovereign Restructuring
San Francisco Chronicle
For more on the euro crisis, click on EXT4 ). Feb. 21 (Bloomberg) -- Greece reached an agreement with its private creditors to secure the biggest sovereign restructuring in history, paving the way for a second bailout of the debt- ridden nation and ...
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Markets cautious over Greek debt deal
Palm Beach Post
20, 2012 in Shanghai, China. Asian stock markets climbed Monday after China moved to boost its economy by freeing upbank lending and hopes grew that Greece will clinch the aid it needs to avoid bankruptcy. (AP Photo) Greek Finance Minister Evangelos ...
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Palm Beach Post
Australia Central Bank Sees Scope for Further Rate Cuts: Economy
BusinessWeek
By Michael Heath Feb. 21 (Bloomberg) -- Australia's central bank said it has scope to ease monetary policy if needed, after keeping the benchmark interest rate unchanged this month as risks in Europe abated, minutes of itsFeb. 7 meeting showed.
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Eurozone agrees Greece bailout
Aol Money
Haggling over figures, financial targets and Greek government belt-tightening pledges went on through the night in a last-ditch attempt to rally markets and put crisis-hit Athens back on the path to economic recovery.
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Wonkbook: Muddling along in Europe
Washington Post (blog)
Option A: The euro zone reached a deal to bailout Greece! Option B: The deal the euro zone reached won't work. A woman begs as shoppers walk by in central Athens Feb. 21. Greeks resigned themselves on Tuesday to a 130-billion-euro EU/IMF bailout that ...
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Turkish Central Bank Cuts Upper Lending Rates, Yields Slide
BusinessWeek
By Emre Peker Feb. 21 (Bloomberg) -- Turkey's central bank unexpectedly cut the maximum interest rate at which it lends to banks, saying it was taking into account monetary easing in other economies. Bond yields fell to a four-month low.
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Tight money policy, global factors hitting growth rate: FM
Moneycontrol.com
Published on Tue, Feb 21, 2012 at 13:42 | Source : PTI Attributing economic slowdown to Reserve Bank's tightmoney policy and global financial problems, FinanceMinister Pranab Mukherjee today said the country needs to target a double-digit growth rate ...
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Moneycontrol.com
Diplomat: Europe has Greece deal
Columbus Dispatch
By Gabriele Steinhauser Associated Press Tuesday February 21, 2012 5:34 AM BRUSSELS — After more than 12 hours of talks, the countries that use the euro reached an agreement early today to hand Greece $170 billion in extra bailout loans to save it ...
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Columbus Dispatch
RBA Says Rates Appropriate With Scope to Ease, Minutes Show
BusinessWeek
By Michael Heath Feb. 21 (Bloomberg) -- Australia's central bank kept its benchmark interest rate unchanged this month as risks in Europe abated and said it has scope to ease policy if demand were to “weaken materially,” minutes of its Feb.
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Greece set for a rough ride after massive bailout
CTV.ca
Greek Prime Minister Lucas Papademos, right, and GreekFinance Minister Evangelos Venizelos address a media conference after a meeting of eurozone finance ministers at the EU Council building in Brussels on Tuesday, Feb. 21, 2012.
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CTV.ca
Timeline: Greece's debt crisis
Reuters
(Reuters) - Here is a look back at Greece's financial crisis, after euro zonefinance ministers sealed a 130-billion-euro ($172 billion) bailout for Greece on Tuesday to avert a chaotic default. May 2, 2010 - Prime Minister George Papandreou says he ...
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Greece is far from being Europe's only problem
MoneyWeek
By MoneyWeek Editor John Stepek Feb 21, 2012 I don't know about you, but I try to avoid giving binding commitments at 2:00 in the morning. Agreeing to anything important when you're that tired and grumpy and had that much to drink is just asking for ...
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Dow edges closer to 13000
Boston.com
The Dow hasn't seen 13000 since May 20, 2008, before afinancial crisis brought the US economy to its knees. In May 2008, the investment bank Lehman Brothers was still solvent, and unemployment was 5.4 percent, compared with 8.3 percent today.
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Boston.com
Dow breaks 13000 for first time since '08 crisis
Newser
(Associated Press) Former First Lady Laura Bush, second from right, rings the opening bell at the New York Stock Exchange before in New York, Tuesday, Feb. 21, 2012. US stocks are opening higher and the Dow Jones industrial.
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European Union reaches agreement on Greek bailout
AZ Central.com
by Sarah DiLorenzo - Feb. 21, 2012 12:00 AM AP BRUSSELS, Belgium - After more than 12 hours of talks, the countries that use the euro reached an agreement early today to hand Greece 130 billion euros ($170 billion) in extra bailout loans to save it ...
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Greece secures bailout to avoid debt default
Newsday
The finance ministers from Greece and the other 16 countries that use the euro as their currency wrangled until the early morning hours over the details of the rescue, squeezing last-minute concessions out of private holders of Greek debt.
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Newsday
RBA Says Rates Appropriate With Scope to Ease
Bloomberg Australia-NZ
The central bank unexpectedly held rates at 4.25 percent this month after two quarter-percentage-point reductions late last year helped the economy weather Europe's sovereign-debtcrisis, which showed signs of easing today as debt-stricken Greece won a ...
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Bloomberg Australia-NZ
Portugal defies government's Carnival cutback plan
Palm Beach Post
Dancers of Grande Rio samba school parade on a float during carnival celebrations at the Sambadrome in Rio de Janeiro, Brazil, Tuesday, Feb. 21, 2012. Nearly 100000 paying spectators turn out for the all-night spectacle at the Sambadrome.
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Palm Beach Post
Dow crosses 13000 for first time since 2008
Newser
By CHRISTINA REXRODE | AP | 0 minutes ago in The Dow Jones industrial average crossed 13000 on Tuesday for the first time since before the 2008financial crisis. Traders work on the floor at the New York Stock Exchange in New York, Tuesday, Feb. 21 ...
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What to do if Greece quits the eurozone
Investors Chronicle
By Chris Dillow, 21 February 2012 European finance ministers hope that last night's deal to reduce Greece's public debt will keep the country in the single currency. But if they believe that's the case, they're in a minority.
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Spain's barter economy wins followers in grip of crisis
The Daily Star
Her shop is one of several offering second-hand goods that have sprung up in Spain's capital during the economic crisis and is packed to the rafters with clothes, books, CDs and electrical equipment. But unlike the others, it doesn't take cash.
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The Daily Star
Greece's Creditors Agree to Forgive More Than Half Debt
Bloomberg
It got its first financial lifeline in May 2010. The debt sustainability analysis provided by the EU and IMF, dated Feb. 15, shows the Greek economy will contract between 4.3 percent and 4.8 percent this year. The baseline scenario shows debt peaking ...
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Bloomberg
Greece to get $170B bailout, reduce debt
Carlisle Sentinel
AP | Posted: Tuesday, February 21, 2012 12:31 am | (0) Comments GreekFinance Minister Evangelos Venizelos, left, shakes hands with GermanFinance Minister Wolfgang Schaeuble during a round table meeting of eurozone finance ministers at the EU Council ...
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AP News in Brief at 5:58 am EST
Newsday
For two of the GOP front-runners, their supportive super PACs raised moremoney and have more cash left in the bank than the candidates' own campaigns. Helping their efforts are major financial gifts from wealthy business executives, ...
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KMPH FOX 26 | Central San Joaquin Valley News SourceAP Top News at 11:48 am...
KMPH Fox 26
Entertainment News from AP AP Top News at 11:48 am EST -Tuesday,February 21, 2012 AP National News Video More>> NYPD monitored students at colleges across Northeast; sent agent on rafting trip, noted prayer. (Graphic by AP Photo/Ted Shaffrey) More>> ...
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Dow crosses 13000 for first time since 2008
STLtoday.com
AP | Posted: Tuesday, February 21, 2012 10:37 am | Loading… Traders work on the floor at the New York Stock Exchange in New York, Tuesday,Feb. 21, 2012. US stocks are opening higher and the Dow Jones industrial average is nearing 13000 after Greece ...
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Fact Check: Artful swerves on auto bailout
CBS News
But it's a distinctly minority view that the private sector, raked then by thefinancial crisis, would have nursed Detroit back to health without a massive infusion of federal aid. In late 2008, banks weren't making many loans, much less to companies ...
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The “Global Crises of Capitalism”; Whose Crises, Who Profits?
The People's Voice
“”Crises” is also associated with the massive increase in bankruptcies of mostly small and medium size businesses and regional banks. Critics, especially in the financial press, write of a “legitimacy crises of capitalism” citing polls showing ...
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The People's Voice
Gas prices: How rising fuel costs influence lawmakers
Christian Science Monitor
By Robert Reich, Guest blogger / February 21, 2012 A gas station attendant pumps gas, in Portland, Ore. At an average of $3.51 a gallon, gas is up 23 percent since Jan. 1. And experts say motorists could pay a record $4.25 a gallon by late April.
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Christian Science Monitor
Woolnough: paying the locusts - bond investors and the Greek deal
Citywire.co.uk
by Richard Woolnough on Feb 21, 2012 at 11:42 Early this morning it appears that at last Greece and the European authorities are at the final stages of launching a bond swap with the private sector – known as the private sector involvement (PSI) ...
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Islamic Development Bank to Invest US$6 Billion in the Country - Executive ...
AllAfrica.com
By Yunus Abdulhamid, 21 February 2012 The Islamic Development Bank(IDB) was formed in October 1975 to foster economic development and social progress of member countries in accordance with Islamic principles. It currently has 56 member countries, ...
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Rising Gas Prices as a Political Football
ABC News (blog)
The American economy is showing faint signs of a recovery. Europe's debtcrisis appears to be easing. Greece's pending bailout deal is calmingfinancial nerves on both sides of the Atlantic, and the Bank of England and European Central Bank are keeping ...
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Housing Crisis to Remain Unless Sector Accommodates New Laws
AllAfrica.com
By Mwaniki Wahome, 21 February 2012 The challenge of providing low-cost housing is set to magnify, even as the construction industry braces for booming business once the counties take-off. Shelter experts are calling for relevant laws to be ...
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DIFC closes 2011 with strong performance and stable signs of growth
Bahrain News Agency
Dubai, Feb. 21. (BNA) -- The Dubai International Financial Centre (DIFC), the financial and business hub connecting the region's emerging markets with the developed markets of Europe, Asia and the Americas, updates the market today on its positive ...
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Market Preview - 21 February 2012; Greek agreement reached
TradingFloor.com
The EUR has strengthened against the majors, this morning, after Europeanfinance ministers reached an agreement on the much awaited second bailout deal for Greece, which includes a 53.5 percent haircut for investors in Greek bonds.
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Gold hits 1-1/2-week high after Greece deal
mydigitalfc.com
By Reuters Feb 21 2012 the dollar weakened after euro zone policymakers sealed a deal for a second bailout for Greece. Gold has drifted between $1700 and $1750 in the past two weeks, following the ups and downs in Greece's struggle to obtain a much ...
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Will Capitalism Ever Crumble?
AllAfrica.com
By Albert Nhamoyebonde, 21 February 2012 Many magazines and newspapers are full of articles on the fate of capitalism after the globaleconomic meltdown, which began in 2008. Investors and owners of capital lost millions on the stock market while ...
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Jubilee: Proclaim the year of the Lord's favor
Patheos (blog)
By Fred Clark, February 20, 2012 1:01 am Jubilee is one of my favorite things. Debts are cancelled. Slaves are set free. Olly olly oxen free. First thing that Jesus talked about in his public ministry? Jubilee. It pervades his parables.
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Bottom Line - Deal done: Europe seals new $170B Greece bailout to ...
By NBC News, msnbc.com and news services
"It's not an easy (program), it's an ambitious one," said Christine Lagarde, the head of the IMF, adding that there were significant risks that Greece'seconomy could not grow as much as its international creditors were hoping.... "We don't have money...Now our only target is to have food to survive," Greek shopkeeper Michael Ipermahos says about the gravity of the financial crisis. "My advice to my children is to leave Greece, throw away their Greek passports and be a citizen of another ...
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