Today: EUROZONE Crisis News, Apr 02, 2012

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Apr 2, 2012

EUROZONE Crisis News, Apr 02, 2012

Debt crisis: live
Telegraph.co.uk
Even ignoring the small matter of the debt crisis, theeurozone's fundamentals are once again looking increasingly sketchy. In many of the 17, the numbers are conspiring to makeeconomic output stagnate or contract. The increase in unemployment had ...
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Telegraph.co.uk
Grim Data Cast Cloud Over Euro Zone
Wall Street Journal
... unemployment and manufacturing activity in the euro zone's weakest members on Monday highlighted the scale of the currency bloc's economicproblems, just days after finance ministers boosted their bailout fund in a bid to fend off the debt crisis.
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Euro Leaders Seek Additional Global Help After Firewall Boosted
San Francisco Chronicle
April 2 (Bloomberg) -- Efforts to resolve the two-year-old European debt crisisswung back to world leaders after euro-area policy makers boosted a firewall designed to overcome doubts about their crisis response and to lure additional emergency aid.
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Euro-zone unemployment hits record high, fuels recession fears
Washington Post
The euro-zone's unemployment rate surged to a record 10.8 percent, the highest since the euro currency was established in 1999, the Associated Press reports. According to official data from Eurostat, seven out of the 17euro-zone countries have ...
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Analysis: Complex, divided EU gets philosophical about its future
Reuters
As the euro zone debt crisis forces the currency area to integrate more closely to survive, those outside the bloc but in the European Union are worried that they will be left as junior partners without a say. The euro zone'sresponse to its public ...
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Eurozone crisis live: Recession fears intensify as unemployment hits record ...
The Guardian
The economic growth outlook is negative and is going to worsen unemployment. Jennifer McKeown, senior European economist at Capital Economics, also predicted that the eurozoneunemployment crisis will get worse, which will further intensify the...
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The Guardian
European Stocks Fluctuate Amid Debt Concerns; Bank Shares Slide
San Francisco Chronicle
The gauge has climbed 7.7 percent in the first quarter, its best start to a year since 2006, boosted by the European Central Bank's 1 trillion euro loan to the region's financial firms. "Whatever the course of events, the euro-zone crisisis by no ...
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Euro Leaders Seek Global Help After Firewall Boosted
BusinessWeek
By Patrick Donahue on April 02, 2012 Efforts to resolve the two-year-old European debt crisis swung back to world leaders after euro-area officials boosted a firewall designed to overcome doubts about their crisis response and to lure additional ...
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EURO GOVT-Bunds pare losses as Spain worries linger
Reuters
... settled 7 ticks lower at 138.42, having earlier fallen as far as 137.72 aftereuro zone finance ministers agreed on Friday to increase their financialfirewall to 700 billion euros to ward off a new flare-up of Europe's sovereigndebt crisis.
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Euro crisis not over
UPI.com
Once again, the nations of the Eurozone have met, agreed new funding and declared that with their new trillion-dollar firewall the euro crisis is resolved. And once again they are mistaken. By MARTIN WALKER, UPI Editor Emeritus WASHINGTON, ...
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European Stocks Fall as Banks Drop Amid Euro-Area Debt Concerns
San Francisco Chronicle
April 2 (Bloomberg) -- European stocks fell, erasing an earlier advance, as continued concern about the euro area's debt crisis overshadowed an expansion in Chinese manufacturing. US futures and Asian shares were little changed.
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Euro-Region Manufacturing Contracts for Eighth Month in March
San Francisco Chronicle
(For more on Europe's debt crisis, see EXT4.) April 2 (Bloomberg) -- Euro-region manufacturing contracted for an eighth month in March, adding to signs the 17-country economy continued to shrink in the first quarter. A manufacturing gauge, based on a ...
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European Stocks Retreat Amid Debt Concerns; Banks, Insurers Fall
San Francisco Chronicle
Efforts to resolve the sovereign-debt crisis swung back to world leaders aftereuro-area policy makers boosted a firewall designed to lure additional emergency aid over the weekend. Euro-Area Firewall Finance ministers from the 17-member monetary union ...
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Euro-Zone Jobless Picture Darkens
Wall Street Journal (blog)
Euro-zone manufacturing activity shrank in March at its steepest pace in three months, as output slumped in peripheral nations such as Spain and Greece where governments are piling on austerity measures to try to escape the debt crisis.
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European Stocks Fluctuate Amid Debt Concerns; Bank Shares Fall
San Francisco Chronicle
April 2 (Bloomberg) -- European stocks fluctuated between gains and losses as continued concern about the euro area's debt crisis offset an expansion in Chinese manufacturing. US index futures and Asian shares were little changed.
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Treasurys stay up after ISM, euro-zone data
MarketWatch
Dire figures on unemployment and manufacturing activity in the euro-zone'sweakest members on Monday highlighted the scale of the currency bloc'seconomic problems. Photo: AFP/Getty Thirty-year bond yields (ICAPSD:30_YEAR) fell 3 basis points to 3.32%.
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Euro zone manufacturing malaise spreads to core
Reuters
The economic slump will make it even harder for the 17-nation euro zone to overcome its debt crisis as it will depress tax revenues and hurt consumer spending. Periphery countries have borne the brunt of the sharp downturn as their own austerity ...
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AM Best(eqnx:)s First Monday Video Program -- Commentary from Leading Analysts ...
MarketWatch (press release)
Euro Crisis: Where Things Stand: Managing Director -- Analytics, EMEA, Stefan Holzberger, and Senior Managing Economist Jim Gillard discuss theEurozone debt crisis from an economic and credit ratings perspective. Holzberger said the question that AM ...
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U.S. Treasury Welcomes Eurozone Firewall Deal
HispanicBusiness.com
Eurozone finance minister announced Friday the 17eurozone member countries had agreed to build an 800 billion euro (about 1. 1 trillion US dollars) financial firewall against the current debt crisis. The bailout funds primarily comprise the temporary ...
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HispanicBusiness.com
European stocks slide as eurozone woes eclipse China data
Outcome Magazine (blog)
However, they sank into the red as a stream of negative eurozone data added to worries about the festering eurozone debt crisis, despite the pre-weekend deal to boost the bloc's firewall against future financial crises. “The China lift has faded and ...
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Jobless rate in crisis-hit Eurozone climbs to 10.8% in February
NDTV
Europe's official statistical agency Eurostat on Monday said that as many as 17.134 million people were unemployed in the euro area in February. The euro zone is battling acute debt turmoil that also threatens to derail the fragile globaleconomic ...
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European Debt Crisis: All Spain All the Time
Minyanville.com
There have been more than 250 sovereign debt defaults since 1800. A country (or a family) can face two different types of crises. A cyclical crisis is typically temporary and due to a business-cycle recession. When the problem that caused the recession ...
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Euro zone agrees to boost rescue capacity
Pakistan Observer
Copenhagen —Euro zone finance ministers agreed to increase theirfinancial firewall to 700 billion euros to ward off a new flare-up of Europe's sovereign debt crisis, drawing a positive initial reaction from G20 partners and markets.
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Germany's Schaeuble sets sights on top euro job
Reuters
Twenty-two years after he was shot and paralyzed from the waist down, Schaeuble is the leading contender to become chairman of the Eurogroup, the influential policy-setting forum of euro zone finance ministers. The appointment would give Germany ...
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TREASURIES-Bonds climb after mixed economic data
Reuters
... orders expansions softest since October * US construction spending fell in February * euro zone factory sector contracted for 8th month By Ellen Freilich NEW YORK, April 2 (Reuters) - US government debt prices rose on M onday as mixed economic data ...
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European stocks fluctuate amid debt concerns
Kathimerini
European stocks fluctuated between gains and losses as continued concern about the euro area's debt crisis offset an expansion in Chinese manufacturing. US index futures and Asian shares were little changed. Credit Agricole SA (ACA) and Societe ...
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ECB's Mersch Sees 'Long Road Ahead' for 'Weak' Euro-Area Economy
Bloomberg
European Central Bank council member Yves Mersch said the euro area has much work to do in addressing the causes of its debt crisis and governments must step up fiscal coordination in the face of “weak growth.” “Since the beginning of the year, ...
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Hartford to Pay Allianz $2.43 Billion to Buy Back Debt, Warrants
Bloomberg
Financial firms including Goldman Sachs Group Inc. (GS) have paid back US bailout funds and unwound deals from private companies struck during the credit crisis of 2008 and 2009. Corporate borrowers are now able to tap debtmarkets at a lower cost as ...
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ECB's Mersch Sees 'Long Road Ahead' for Euro-Area Economy
BusinessWeek
By Mark Deen on April 02, 2012 European Central Bank council member Yves Mersch said the euro area has much work to do in addressing the causes of its debt crisis and governments must step up fiscal coordination in the face of “weak growth.
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In Europe, Unemployment Up, Manufacturing Down
Voice of America
It was the eighth straight month the Markit survey showed eurozonemanufacturing is shrinking. The eurozone has been battling to resolve its two-year governmental debt crisis after sending $300 billion in rescue packages todebt-ridden Greece, ...
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Asia's factories busier, but hold the champagne
Reuters
Asia's economic fate remains closely tied to that of its export customers in the United States and Europe. Demand there still looks sluggish, even though theeuro zone debt crisis poses less of an immediate threat to global economicstability and US ...
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Eurozone debt crisis: how Greece could exit the euro - Telegraph
Eurozone debt crisis: how Greece could exit the euro. As global companies draw up contingency plans for a Greek exit from the euro, we examine the feasibility ...
www.telegraph.co.uk/.../Eurozone-debt-crisis-how-Greece-cou...
Euro zone debt crisis not over despite calmer financial markets ...
BRUSSELS: The euro zone's public debt crisis is not over despite calmerfinancial markets this year, the OECD said on Tuesday, with a warning that the bloc's ...
economictimes.indiatimes.com/news/.../12426836.cms
Euro-Zone Crisis: Why Portugal May Be the Next Greece | Business ...
As a result, worries about the European financial crisis have diminished somewhat. ... The worst is over for the euro zone, the experts say. ... In one way, Greece really is unique — the country's massive debt is largely the result of borrowing by ...
business.time.com/.../why-portugal-may-be-the-next-greece/
Euro crisis needs mother of all firewalls: OECD | Reuters
Gurria said an impressive firewall was crucial because the euro zone's publicdebt crisis was not over despite calmer financial markets this year, warning that the ...
www.reuters.com/.../us-eurozone-economy-oecd-idUSBRE82...
Eurozone Crisis: In the Eye of the Storm « Euro Area Debt Crisis by ...
News and views on the euro area's debt crisis ... place, the EuropeanFinancial Stability Facility (EFSF), which has around 250 billion euros in available funding, ...
economistmeg.com/.../eurozone-crisis-in-the-eye-of-the-storm/
Euro zone set to boost debt-crisis firewalls
... John O'Donnell | COPENHAGEN (Reuters) - Euro zone finance ministers are likely ... debt crisis, although Germany continues to favor a smaller increase.
www.reuters.com/.../us-eurogroup-firewalls-idUSBRE82T09C...
Euro zone set to boost debt-crisis firewalls
COPENHAGEN (Reuters) - Euro zone finance ministers are likely to agree to... on Friday as one of the final moves to end the sovereign debt crisis, although.
www.reuters.com/.../us-eurogroup-firewalls-idUSBRE82T014...
Euro zone debt crisis far from over - OECD
BRUSSELS, March 27 (Reuters) - The euro zone's public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, with a ...
www.reuters.com/.../eurozone-economy-oecd-idUSL6E8ER10...
Euro zone set to boost debt-crisis firewalls - Yahoo! Finance
From Yahoo! Finance: Euro zone finance ministers are likely to agree to temporarily almost double their financial backstops on Friday as one of the final moves ...
finance.yahoo.com/.../euro-zone-set-boost-debt-003535362.ht...
Eurozone crisis live: Bundesbank chief criticises firewall plans ...
Euro crisis: Italy at risk of insolvency, European finance ministers warned. 10 Jan 2012 .... Is the eurozone debt crisis as acute now as it was in November 2011?
www.guardian.co.uk/.../eurozone-debt-crisis-mario-monti-alm...
TODAYonline | Business | Euro zone debt crisis far from over: OECD
BRUSSELS - The euro zone's public debt crisis is not over despite calmerfinancial markets this year, the Organisation for Economic Cooperation and ...
www.todayonline.com/.../Euro-zone-debt-crisis-far-from-over...
A brief political economy of the euro zone crisis | East Asia Forum
The rootstock of the euro zone crisis is a failed political project: the euroitself. It was pushed through ... The global financial crisis exposed these flaws. The result is a triple crisis — of sovereign debt, banks and the common currency. Europe's ...
www.eastasiaforum.org/.../a-brief-political-economy-of-the-eu...
Econbrowser: “The Eurozone in Crisis: Origins and Prospects”
The financial crisis gripping the eurozone countries seems incredibly complex, ... The euro area is the world's largest economy; its trajectory has a powerful impact ... of the union as an implicit guarantee of member countries' government debt.
www.econbrowser.com/archives/2012/.../athe_eurozone_i.htm...
Euro-Zone Finance Ministers Poised to Create Stronger Firewall ...
Euro-zone finance ministers appeared ready to reach a decision Friday on creating a stronger firewall to combat the sovereign debt crisis, coalescing around a ...
blogs.wsj.com/.../euro-zone-finance-ministers-poised-to-create..
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