EUROZONE Crisis News, May 21, 2012

France presses for euro area bonds as crisis salve Reuters * France's Hollande set to press euro bonds at May 23 summit * Debate resurfaces as euro zone debt crisis worsens * German official says eurobonds "wrong idea at wrong time" * IG Metall pay deal suggests some bolstering of German demand By Luke Baker ... See all stories on this topic »

Euro zone needs growth and austerity: ECB's Asmussen Reuters The ECB has helped fight the debt crisis by cutting interest rates to a record low of 1 percent, flooding financial markets with more than 1 trillion euros in three-year loans and buying struggling euro zone countries' bonds in the secondary market. See all stories on this topic »

Eurozone crisis live: EU heading for showdown over growth The Guardian In a sign that Wednesday's summit meeting could be combative, deputy finance minister Steffen Kampeter insisted that Germany would not accept collective borrowing until the underlying problems in the eurozone were fixed. Speaking after French president ... See all stories on this topic » The Guardian

Debt crisis: as it happened - May 21, 2012 Telegraph.co.uk Tsipras has added that a Greek exit would destroy the euroarea. However, Greece is a "sovereign state and makes its own decisions". 14.22 Commerzbank, the second-largest bank in Germany, has warned that the eurozone debt crisismay push the US Federal ... See all stories on this topic » Telegraph.co.uk

German, French Finance Chiefs Meeting Focuses on EurozoneDiscord Voice of America The German and French finance chiefs are meeting Monday to discuss their competing views about how to boost economicgrowth in the 17-nation euro currency bloc and resolve its governmental debt crisis. Germany's finance minister, Wolfgang Schaeuble, ... See all stories on this topic » Voice of America

Greek Party Leaders Call For Euro-zone Bond, Growth Measures Wall Street Journal ATHENS (Dow Jones)--Greek political party leaders called Monday for adoption of a common euro-zone bond to help the country resolve itsfinancial crisis and to boost Europe's slowing economy. Caretaker Prime Minister Panagiotis Pikrammenos met leaders ... See all stories on this topic »

RPT-Euro area bonds to be discussed at informal EU summit-officials Reuters The rapid deterioration in the euro zone debt crisis over the past month, with Greece's potential exit from the 17-country currency bloc no longer taboo, has brought the idea back to the forefront, with many economists and policymakers arguing it would ... See all stories on this topic »

German Bonds Fall on Bets European Crisis-Fighting Plan Closer BusinessWeek German and French officials will meet today before a summit of regional leaders on May 23, when they will discuss ways to contain the debt crisis. Belgium sold 2.55 billion euros ($3.26 billion) of bonds maturing between June 2017 and March 2026, ... See all stories on this topic »

Europe Shares Seen Lower as Debt Crisis Worries Persist CNBC.com ... to open lower on Monday after world leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis. See all stories on this topic » CNBC.com

US must deal with eurozone crisis now Canon City Daily Record If Greece defaults on its debt or gives up the euro, the crisis would likely spread to Spain and Italy first, then ripple outward from there. Much of Europe would be hard hit, and the United States wouldn't be immune from the fallout. See all stories on this topic »

GLOBAL MARKETS: Europe Stocks Seen Lower; Debt Drama Still Weighs Wall Street Journal By Ishaq Siddiqi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--European stock markets are expected to start marginally lower Monday, as the ongoing worries about the euro-zone crisis continue to pressure sentiment, though developments over the weekend at ... See all stories on this topic »

GLOBAL MARKETS-Stocks, euro rebound from year's lows Reuters * Stocks climb after biggest weekly drop in 2012 * Euro dips as investors still fear Greek euro exit * Facebook shares fall further since Friday's debt * China's growth comments lift oil, copper By Richard Leong NEW YORK, May 21 (Reuters) - Global ... See all stories on this topic »

Cameron 'posturing' is exacerbating eurozone crisis, says Balls The Guardian Ed Balls has accused David Cameron of exacerbating theeurozone crisis by "posturing" over Greece and warned that the G8 summit's failure to come up with a clear plan will prove "absolutely catastrophic for Britain, Europe and the world". See all stories on this topic » The Guardian

Markets inch up after G-8 vague on Europe fix Atlanta Journal Constitution By NATALIYA VASILYEVA AP MOSCOW — Global stocks rose modestly on Monday, though gains were limited by concerns that leaders from the Group of Eight most powerful countries had failed to provide a concrete plan to ease the eurozone debt crisis. See all stories on this topic » Atlanta Journal Constitution

GLOBAL MARKETS-Stocks rebound from year's lows, euro dips Reuters ... Friday's debt * China's growth comments lift oil, copper By Richard Leong NEW YORK, May 21 (Reuters) - Global stocks rebounded from their lows for the year on M onday as world leaders emphasized their support for economicgrowth in the euro zone, ... See all stories on this topic »

GLOBAL MARKETS-Stocks rise from year's lows, euro dips Reuters ... fall further since Friday's debt * China's growth comments lift oil, copper NEW YORK, May 21 (Reuters) - Global stocks rose on Monday from their lows for the year as world leaders voiced support for economic growth in theeuro zone and China, ... See all stories on this topic »

Greek Crisis Poses Unwanted Choices for Western Leaders Pittsburgh Post Gazette European finance officials are trying to be reassuring about a Greek exit, saying that most Greek debt is now held by nations, which can afford the loss if necessary, and that better firewalls exist to protect the rest of the euro zone, and so that the ... See all stories on this topic »

Obama sees 'emerging consensus' on economic fix BusinessWeek By BEN FELLER and JIM KUHNHENN Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the ... See all stories on this topic »

How the Euro Crisis Will Affect You Daily Beast Europe is not having a debt crisis. It is having a currency crisis. It's not that European countries have bumped up against their ability to borrow. The problem is that some European countries are bumping up against their ability to borrow in euros. See all stories on this topic » Daily Beast

Euro-zone Sovereign Debt Crisis Solution - Europeans it's Time To Wake Up! The Market Oracle Since 2008, EU27 sovereign debt has grown at least 3500 billion euros, mostEurozone countries and many other EU countries are in recession, over 50% of young Spaniards are out of work, and over 25% are out of work in most other EU27 countries. See all stories on this topic »

Is a Greek Exit from the Euro Inevitable? TIME By Michael Schuman | @MichaelSchuman | May 21, 2012 | + For two-and-a-half years, the world has been watching and waiting to see if debt-laden Greece could remain in the euro zone. Many have been doubtful since the beginning of the debt crisis. See all stories on this topic » TIME

Dr. Frankenstein's Europe: What a 'Grexit' Might Do to the Eurozone Minyanville.com By John Mauldin May 21, 2012 10:20 am The ECB must be prepared to step in with massive funding of peripheral-country banks and sovereign debt. If theeuro is at total risk, that is the only way to save it. This article was originally published on May ... See all stories on this topic »

France says 'oui' to euro bonds, but Germany says 'nein' Christian Science Monitor German finance official says Berlin continues to oppose eurobonds, which would create debt backed jointly by European Union nations. EU members meet Wednesday in Brussels to discuss euro bonds and other growth-enhancing policies. See all stories on this topic » Christian Science Monitor

Europe stocks inch up after G8 vague on Europe fix Boston.com Without the rescue package, Greece will likely default and leave the eurozone. That would mean a financial disaster for Greece, but it will also send shockwaves throughout Europe. At stake is a multibillion euro bailout that Greece urgently needs to ... See all stories on this topic » Boston.com

How the euro crisis will affect you CNN Europe is not having a debt crisis. It is having a currency crisis. It's not that European countries have bumped up against their ability to borrow. The problem is that some European countries are bumping up against their ability to borrow in euros. See all stories on this topic »

Seoul shares seen lower on nagging euro zone jitters Reuters World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil while revitalizing a global economy increasingly threatened by Europe's debt crisis. The Korea Composite Stock Price ... See all stories on this topic »

Merkel Resists G-8 Spending Pressure as Soccer Breaks the Ice BusinessWeek By Tony Czuczka on May 20, 2012 German Chancellor Angela Merkel agreed to shift the euro area's debt-crisis response toward economic growth, avoiding a showdown with her partners as the US prods Europe to stem more than two years of market turmoil. See all stories on this topic »

Nick Clegg: Public fury at euro crisis will fuel extremism Telegraph.co.uk Mr Clegg's intervention followed warnings from Cabinet ministers that the eurozone debt crisis is approaching a “moment of clarity” when it is “quite likely” that Greece will be forced out of the single currency. In an interview with the German ... See all stories on this topic » Telegraph.co.uk

NewsDaily: France presses for euro area bonds as crisis salve By Luke Baker The rapid deterioration in the euro zone debt crisis over the past month, with Greece's potential exit from the 17-country currency bloc no longer taboo, has brought the idea back to the forefront, with many economists and policymakers arguing it would be one of the best ways of restoring market ...Growth proposals are expected to include boosting the paid-in capital of the European Investment Bank and plans for 'project bonds' underwritten by the EU budget to finance infrastructure. NewsDaily: Top Headlines

Could the Eurozone Crisis Cause Another Lehman Moment ... By Matt Stoller You can follow him on twitter at http://www.twitter.com/matthewstoller. The Lehman Brothers bankruptcy is perceived of as the 9/11 of the financial crisis, the moment where liquidity problems that had been bubbling since late 2006 turned into a full-fledged panic and then economic collapse. The question American elites are pondering is, will a Eurozone break-up, or even Greece leaving the Euro, cause another such moment? Ben Bernanke has argued that Greece leaving wouldn't, ... naked capitalism

Germany and the Euro Crisis: Is the Powerhouse Really So Pure ... By SC&A For much of the news media—not only in continental Europe's “virtuous” north, but also in the United States—the euro sovereign debt crisis could be summarized in the form of this morality play opposing national or regional stereotypes. If in Germany itself it was the deliberately over-the-top tabloid Bild that ... But what if the financial strains on the PIGS that threaten the eurozoneare a product of the eurozone itself? What if the problems of the euro, in other words, are of the euro's own ... Sigmund, Carl and Alfred

France presses for euro area bonds to stem crisis - Financial Post The rapid deterioration in the eurozone debt crisis over the past month, with Greece's potential exit from the 17-country currency bloc no longer taboo, has brought the idea back to the forefront, with many economists and policymakers arguing ... FP Top Stories List

What Will Europe's Debt Crisis Mean for the American Market? | Fox ... By Your World German Finance Minister Wolfgang Schaeuble, one of Greece's harsher critics, said market turmoil fueled by the euro zone debt crisis could last another year or two. “Regarding the crisis of confidence in the euro … in 12 to 24 months we will ... Fox News Insider

Debt crisis: as it happened May 18, 2012 - Telegraph Visit our financial crisis page to keep up to date with events at the G8 meeting this .... A permanent solution to the euro requires a permanent shift in eurozone ... www.telegraph.co.uk/.../Debt-crisis-as-it-happened-May-18-2...

Spanish bank debts deepen eurozone crisis Spanish bank debts deepen eurozone crisis. By Nick Beams 14 May 2012. The European financial crisis has taken another turn for the worse as doubts grow ... www.wsws.org/articles/2012/may2012/euro-m14.shtml

Debt crisis: as it happened - May 21, 2012 16.38 German Finance Minister Wolfgang Schaeuble: "The euro has been a... give markets the reassurances they need on growth and the eurozone debt crisis. www.telegraph.co.uk/.../Debt-crisis-as-it-happened-May-21-2...

Eurozone crisis live: Fitch downgrades Greece on euro exit fears ... The Stoxx 600 Euro Zone banking index, which includes financial stocks from across .... Not to dodge responsibility for dealing with a debt crisis - but to lead our ... www.guardian.co.uk/.../eurozone-crisis-cameron-greece-euro-...

Debt crisis: live It fuels unrest and political extremism — and carries a huge economic and social cost. ... More now so than a couple of years ago due to European debt crisis. ... A permanent solution to the euro requires a permanent shift ineurozone ... www.telegraph.co.uk/finance/debt-crisis.../Debt-crisis-live.htm...

Eurozone Crisis: Glossary Of Financial Jargon By Ed Conway ... A glossary of financial jargon relating to the eurozone debt crisis. ... At its very core, the euro crisis is about an enormous gulf in competitiveness between nations ... news.sky.com/home/business/article/16232377

Eurozone debt crisis: how a Greek exit from the euro might unfold Eurozone debt crisis: how a Greek exit from the euro might unfold. Greece's decision to call a second, anti-austerity election has taken the country one-step ... www.telegraph.co.uk/.../Eurozone-debt-crisis-how-a-Greek-ex...

Euro Zone Debt Crisis a Potential Hazard for Oil ... - Yahoo! Finance NEW YORK, NY--(Marketwire -05/09/12)- To kick off the week oil prices have dropped to their lowest levels of the year as election results in Europe raised... finance.yahoo.com/.../euro-zone-debt-crisis-potential-122000...

BBC News - Markets drop on eurozone worries Concern over the eurozone debt crisis has continued to weigh on financialmarkets, with the euro dropping more than a cent against the US dollar. www.bbc.co.uk/news/business-18108716

Obama presses ailing Europe to focus on growth | Reuters Obama, Hollande talk euro zone, Afghanistan, cheeseburgers ... crisis that threatens to push Greece out of the euro zone and send economicshockwaves ... for tough fiscal discipline to bring down suffocating debt levels across the euro zone, ... www.reuters.com/.../us-g8-summit-idUSBRE84H06F2012051...

Euro zone crisis to dominate G8 - The Irish Times - Fri, May 18, 2012 US president Barack Obama called the European debt crisis an issue of ...He and Mr Obama "share the same views" that Greece should stay in theeuro zone. ... Financial markets fear for the future of the entire currency zone, with Spain's ... www.irishtimes.com/newspaper/breaking/.../breaking44.html

What the euro-zone crisis means for you - TotallyMoney If Greece does walk away from its debts and the euro by reverting to the ...financial exposure to euro-zone assets and, in particular, to crisis-ridden Greece! www.totallymoney.com/news/eurozone-crisis-means/

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