Today: EUROZONE Crisis News, May 12, 2012

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Mar 12, 2012

EUROZONE Crisis News, May 12, 2012

Euro Ministers Set to Back Greek Aid Payout, Debate Spain
San Francisco Chronicle
(Updates with Schaeuble comment in fourth paragraph, euro, stocks in fifth. For more on Europe's debt crisis, see EXT4.) March 12 (Bloomberg) -- Euro-area finance ministers seeking to step past the largest sovereign debtrestructuring in history will ...
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Euro zone ministers to sign off Greek cash, grill Spain
Chicago Tribune
Spain, the euro zone's fourth biggest economy, was quick to impose austerity measures to protect itself from the euro debt crisis. It planned to cut its budget shortfall to 6 percent of gross domestic product (GDP) in 2011, but reported an 8.5 percent ...
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Eurozone crisis live: Finance ministers to approve second bailout for Greece
The Guardian
However the more I think about it the more I think that any future such European debt restructuring would have to be viewed on its own merit from a CDS standpoint and we cannot assume that just because CDS has been triggered for Greece that it would ...
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The Guardian
Eurozone: Crisis dented investor appetite but now stars are 'aligned for high ...
Financial Times
By Robin Wigglesworth European corporate bond sales have revived again after the resurgent eurozone crisis dented investor appetite and caused even supposedly haven-status, high-grade company bonds to lose some of their lustre in late 2011.
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Forex Trading Volumes Hit by Euro Zone Crisis
Wall Street Journal
By MARTIN VAUGHAN And ENDA CURRAN Foreign-exchange trading volumes fell sharply toward the end of 2011 as the euro zone's sovereign-debt crisisflared up and European banks cut back lending world-wide, the Bank for International Settlements said in its ...
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Eurozone Finance Chiefs Set to Approve Greek Bailout
Voice of America
March 12, 2012 Eurozone Finance Chiefs Set to Approve Greek Bailout VOA News Finance ministers in the 17-nation euro currency bloc are set to approve Greece's new $172-billion bailout, even as they grapple with concerns about Spain missing its deficit ...
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Finance ministers to revive firewall debate
CNN
... Portugal and other vulnerable economies from crisis. (Financial Times) -- After helping to push through a Greek debt restructuring that is the largest in history, eurozone governments will revive a debate about boosting firewalls to shield Spain, ...
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Debt crisis and Greek bailout: live
Telegraph.co.uk
"The deal has wiped some €105bn off Greece's €350bn debtmountain and secured a next round of financial support.Eurozone finance ministers have already agreed to lend €35bn upon completion of the exchange and may make a further €95bn available.
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Telegraph.co.uk
EURO GOVT-Bunds rise as growth worries outweigh Greece relief
Reuters
... Italian debt markets * New Greek bond is highest-yielding in currency bloc By William James LONDON, March 12 (Reuters) - Safe-haven German Bund futures rose on Monday as concerns about growth and contagion risks linked to the euro zone debt crisis ...
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European Finance Ministers Set to Approve Greek Aid Payout, Examine Spain
Bloomberg
Euro-area finance ministers seeking to step past the largest sovereign debt restructuring in history will attempt to gain a foothold this week as they grapple with implementing the latest Greek bailout. Ministers from the 17 nations that share the euro ...
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Bloomberg
Bunds rise as growth worries outweigh Greece relief
Reuters
By William James | LONDON (Reuters) - Safe-haven German Bund futures rose on Monday as concerns about growth and contagion risks linked to theeuro zone debt crisis resurfaced after investor relief spurred by Greece'sdebt restructuring faded.
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Despite Greek Deal, Sovereign Debt Crisis Isn't Over
Minyanville.com
By John Mauldin Mar 12, 2012 8:40 am The focus of the crisis will now move on to peripheral European countries, where the economic arithmetic is not much better than that of Greece only a few years ago. Editor's Note: This article was originally ...
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Greece Poised for Bailout Approval
TIME
The debt-ridden country will also be hoping that its second international bailout will be finalized later when the finance ministers from the 17 eurozone nations meet in Brussels. (MORE: Is Germany's Euro Crisis Strategy Actually Working?) ...
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Greece, Spain in focus at EU talks | Bangkok Post: business
Bangkok Post
Crisis-hit Greece and Spain are in focus when eurozone finance ministers gather in Brussels on Monday hoping for progress on a firewall to protect fragile states from market pressure. Enough private investors have agreed to take huge losses on their ...
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Is Spain Next? After Greece, EU Ministers Discuss Looming Iberian DebtProblem
International Business Times
By Oliver Tree: Subscribe to Oliver's RSS feed Eurozoneministers are set to approve a second bailout for Greece on Monday, before turning their attention to Spain as the country edges closer to missing a crucial European Union (EU) budget deficit ...
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International Business Times
Debt crisis: live
Telegraph.co.uk
In any event EU finance ministers look set to sign off on the €130bn Greek bailout today, despite the fact that the likelihood of a further default remains probable given that the newly issued bonds could still come in at a higher yield than Portugal's ...
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Telegraph.co.uk
Debate on transaction tax heats up in Europe
MarketWatch
The tax, supporters say, would bring more stability to markets and make thefinancial sector, widely blamed for causing the debt crisis in Europe, pay its fair share to help avert another crisis. But some EU member states, notably the UK and Sweden, ...
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Treasury took dim view of euro leadership
Sydney Morning Herald
THE Treasury was bracing for the break-up of the euro zone at the peak of the sovereign debt crisis and criticised Europe's leaders for being ''consistently behind the curve'' in their response, documents show. According to internal briefing papers, ...
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There Will Be Euro-zone Debt Crisis Contagion, The Next Greek Tragedy
The Market Oracle
It would be a fundamental break to the unity of the eurozone." – George Papaconstantinou, former Greek Finance Minister … (This week) – Take your pick from scores of quotes from various EUleaders: "A Greek default has no real impact on the rest of ...
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The Market Oracle
European stocks rise
iAfrica.com
European stock markets rose on Friday but the euro flagged after Greece clinced a debt swap that set the stage for a second bailout to avert a neweurozone crisis. Stocks were also boosted and the euro suffered from strong US job numbers that suggest a ...
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ECB just barely dips toe into bond markets
Reuters
It reactivated the program last August after a four-month break when Italy and Spain, two of the euro zone's biggest economies, began to get dragged into the eye of the debt crisis. Since then it has spent around 140 billion euros.
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Greece swaps bonds worth $232.5 billion
CBS News
(AP) ATHENS, Greece - The Greek Finance Ministry says it has lightened the country's crushing debt load by completing a swap of bonds worth 177.2 billioneuro ($232.5 billion). A ministry statement says Monday's exchange affects all Greek government ...
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Greek debt swap could be short-lived reprieve
Reuters
Last week's deal, under which private creditors agreed to lose most of their investments in Greek government bonds, should allow euro zone financeministers meeting on Monday to declare they will pay their part of a 130 billioneuros bailout, ...
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12/03/2012Greece, Spain in focus at eurozone talks
Expatica Spain
Crisis-hit Greece and Spain are in focus when eurozone finance ministers gather in Brussels on Monday hoping for progress on a firewall to protect fragile states from market pressure. The next step for indebted Greece will be the release by nations ...
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Mid-Day Report: Euro Steady ahead of EU Meeting, Greece Bailout Approval ...
Action Forex
Despite dipping initially as the week started, there was no follow through selling in Euro so far and the common currency settles in tight range as traders are awaiting EU finance minister's meeting. While the approval of Greece's second bailout of EUR ...
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There Will Be Euro-zone Debt Crisis Contagion, The Next Greek ...
Evolving Global Financial Crisis, Selling "Foreclosed Homes" - 11th Mar 12. Post Greek PSI Deal, We Are Not BULLish or BEARish, We Are GORILLAish - 11th Mar 12. There Will Be Euro-zone Debt Crisis Contagion, The Next Greek Tragedy ...
The Market Oracle
There Will Be Euro-zone Debt Crisis Contagion, The Next Greek ...
By Stefan B
There Will Be Euro-zone Debt Crisis Contagion, The Next Greek Tragedy. by John Mauldin, MarketOracle.co.uk: … (December 11, 2009) – Greece's prime minister, George Papandreou, told reporters in Brussels on Friday thatEuropean ...
SGTreport - The Corporate Propaganda...
Forex Trading Volumes Hit by Euro Zone Crisis - Daily Financial News
By us economy - Google News
BloombergForex Trading Volumes Hit by Euro Zone CrisisWall Street JournalBy MARTIN VAUGHAN And ENDA CURRAN Foreign-exchange trading volumes fell sharply toward the end of 2011 as the euro zone's sovereign-debt crisis flared ...
Daily Financial News
A tale of two economies – Greece and Iceland | Bill Mitchell – billy blog
By bill
The economic cricis across the whole of Eurozone is a debt crisis. Can we, at least, agree on this point? It is not a crisis of inflation, of banking fraud, of europarity, etc. It is a debt crisis. When we say “economic crisis in Europe,” we mean, as a ...
Bill Mitchell - billy blog
Iceland's "Loonie" Idea
By James R. Gorrie
Whether the Greek bond swap works or not makes almost no difference to the final outcome of the Greek Crisis… Because Greece and the rest of theEurozone are in one hell of a financial mess. ... But many forget that before the Greek Crisis began, another European country had their banking sector collapse and faced an economy-threatening debt crisis all the way back in 2008… And that country was Iceland. But Iceland's response to its debt crisiswas much different than what the ...
Absolute Wealth »
Press: ECB's Coeure Says EU Needs To Shore Up Stability Fund ...
By Market News International
TOKYO (MNI) - The European Union needs to bolster the European FinancialStability Mechanism in order to deal with the sovereign debt crisis in the. ... On Friday, Eurozone finance ministers cleared the E30 billion “sweetener” for the Greek ...
ForexLive
Impact on the global economy | Russell Investments Blog
By Steve Wood
We think the biggest systemic risk to global markets at present is the potential consequences of European debt crisis. Though some market observers fear a scenario where a crackup of the euro zone could trigger “the next globalfinancial ...
Russell Investments Blog
What was it all for? The latest Greek Bailout-PSI in the Morning ...
By SOZ
When Greek and European politicians celebrate the fact that almost €100 billion have been shaved off Greece's public debt, they state a useful fact but use it as a smokescreen that veils the numbers that count the most. .... wealthier citizens, subsidies on environmentally damaging agriculture); The Eurozone-ECB undertakes to come to the assistance of European financial institutions that are stressed by (1) above and, crucially, to utilise the European Investment Bank (EIB) to increase ...
Greek Left Review
The Coming Crisis: Greek debt swap could be short-lived reprieve...
By Lynsey
Last week's deal, under which private creditors agreed to lose most of their investments in Greek government bonds, should allow euro zone financeministers meeting on Monday to declare they will pay their part of a 130 billioneuros bailout, ...
The Coming Crisis
THIS WEEKS NEWS
By binary
This Week's News - Greece has restructured its debt, the largest restructuring in the history, with banks and private lenders to bear up to 74% loses. You'll have to see what will be.... ... Financial News | Stock Markets | Forex Trading · French · 24Options · facebook · google · twitter · Homepage ... Euro is also retaining its positive position in the market and Good news about EU crisis in the financial markets is also playing its part in the market. We predict a bullish activity for this pair in the ...
Eurozone crisis live: Greek debt swap declared a ... - The Guardian
Eurozone crisis live: Greek debt swap declared a 'credit event' ... Greece'sFinance minister Venizelos leaves his office in Athens ... What is kind of ironic is that the introduction of the euro bought about a convergence in Europeangovernment ...
www.guardian.co.uk/business/.../greece-debt-swap-completed
Eurozone crisis: live blog | The World ... - Blogs - Financial Times
The scheme is backed up by bonds issued by the European Financial ..... that has been a vocal critic of the policy responses to the eurozone's debt crisis, offers ...
blogs.ft.com/the-world/2012/03/eurozone-crisis-live-blog-29/
Euro zone ministers to sign off Greek cash, grill Spain
By Jan Strupczewski | BRUSSELS (Reuters) - Euro zone finance ministers will ... to impose austerity measures to protect itself from the euro debt crisis.
www.reuters.com/.../us-eurogroup-idUSBRE82B0LI20120312
Euro zone debt crisis 'easing' - ECB - The Irish Times - Sat, Mar 03 ...
The euro zone sovereign debt crisis has eased in recent weeks, ECB governing ... The EU fiscal compact enforcing more financial discipline oneuro zone states ...
www.irishtimes.com/newspaper/breaking/.../breaking18.html
Eurozone crisis live: Finance ministers to approve second bailout ...
8.06am: European stock markets have opened lower, as expected, bringing the ... back to our rolling coverage of the eurozone debt crisis and world economy.
www.guardian.co.uk/.../eurozone-crisis-live-new-greek-bonds...
Eurozone crisis live: Greek debt swap drags on
8.19am: While Europe was sleeping, Australia has added to fears over a globaleconomic slowdown by reporting disappointing GDP data. The eurozone crisis ...
www.guardian.co.uk/.../mar/.../eurozone-crisis-greek-debt-swa...
EU debt crisis: Banks gorge on cheap money | Investing | Financial ...
Banks grabbed 530 billion euros at the European Central Bank's second offering of ... to throw the onus back on euro zone governments to tackle thedebt crisis.
business.financialpost.com/.../eu-banks-gorge-on-cheap-mone...
European Debt Crisis: 25 Countries Sign EU Debt Pact
"It helps prevent a repetition of the sovereign debt crisis," he said, in a speech... Ireland, which depends on the euro zone for financial support after its banking ...
www.huffingtonpost.com/.../european-debt-crisis_n_1315644...
Debt crisis and EU summit: live - Telegraph
Debt crisis and EU summit: live. European markets close up as eurozone finance ministers delay decision on second Greek bailout until bondholders agree to ...
www.telegraph.co.uk/.../Debt-crisis-and-EU-summit-live.html
European leaders decide to postpone debt crisis meeting - Business ...
Domestic politics in eurozone countries emerged again Tuesday as a serious obstacle to resolving the European debt crisis, contributing to a decision by officials to ... has been to reconcile impatient financial markets with democratic processes.
www.bostonglobe.com/business/2012/02/29/.../story.html
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