Today: IRELAND, Portugal, Spain, Italy, Greece News, May 01, 2012

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May 1, 2012

IRELAND, Portugal, Spain, Italy, Greece News, May 01, 2012

Wonkbook: A 'mistake' Europe would be wise to make
Washington Post (blog)
Spain has fallen into a recession. Belgium, Greece, Ireland, Italy, the Netherlands, Portugal and Slovenia are in recession. Perhaps this might mean a bit of a rethink in the euro zone? Nah. Unemployed Italian railways former workers, ...
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European Austerity and the Fate of the Euro
Forbes
Last week, S&P downgraded Spain to BBB+. Spain, Italy, Greece, Portugal,Ireland, Belgium, Denmark, and Holland, members of the Eurozone, have officially fallen back into recession. We are more than two years into the European Debt Crisis – the crisis ...
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The Real Tragedy Of The Euro
Forbes
Portugal, Ireland, Italy, Greece, Spain (the “PIGGS”) could have the operating room, given their own currencies, to see themselves through to recovery and sustainability without too much rough stuff in the interim. Whatever the merits of this sort of ...
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World workers express anger, gloom on May Day
Washington Examiner
Spanish Prime Minister Mariano Rajoy is trying desperately to cut a bloated deficit, restore investor confidence in Spain's public finances, lower the 24.4 jobless rate, and fend off fears it will join Greece, Ireland and Portugal in needing a bailout.
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Austerity Fires Voter Vengeance Against Euro
Business Insider
Over the last few years, as the debt crisis has engulfed Europe, the risk that has most concerned economists has been the possibility that the so-called 'olive growing countries' of Portugal, Italy, Greece and Spain, joined byIreland (and known as the ...
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Europeans protest austerity at May Day rallies
Reuters
Unions in Spain, Portugal, Italy, France and Greece used the traditional marches to express anger over a savings drive across the euro zone, aimed at shoring up public finances but criticized for forcing countries deeper into recession.
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EuroCrisis: Default, Austerity and Deleveraging
International Business Times
By Shayne Heffernan Following on from the disastrous Greece Default, the ECB, IMF and World Bank are ready for the Sequels, Spain, Italy, Portugaland Ireland. As the IMF demands Austerity, growth in Europe is scarce, budget cuts have already put ...
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May Day sees wave of austerity protests
Financial Times
Twelve European countries are in recession - meaning they have suffered at least two consecutive quarters of negative growth – Spain, Portugal, Ireland,Greece, Italy, the Netherlands, Belgium, Cyprus, the Czech Republic, Slovenia, Denmark and the UK.
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How Can Europe Save Itself? (Again.)
North Country Public Radio
Then came news that Spain, which has been enacting austerity measures, is officially in a recession (along with the UK, Belgium, Greece, Ireland, Italy, the Netherlands, Portugal and Slovenia are in recession). The point of austerity is to get debt ...
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Hollande inspires Greek socialists
WA today
For countries like Greece, Ireland, Portugal, Italy and Spain, the relentless focus on austerity has led to historic levels of unemployment and worsening poverty. Greeks - who look set to abandon mainstream parties in droves in Sunday's elections, ...
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WA today
Crunch time looms for Germany
The Economic Voice
Governments in Greece, Portugal, Ireland, Italy and Spain have already changed since the crisis first broke, but thus far there has been consensus on the need to cut fiscal deficits and boost competitiveness. This may be unsurprising where technocratic ...
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The Economic Voice
Eurozone Austerity Faces Increasing Political Challenges as Economy Worsens
Huffington Post (blog)
It is also attempting to accomplish something that is painful and probably not possible -- an "internal devaluation" in Spain, Portugal, Greece, Ireland, andItaly; and "growth through austerity" in France. One result is not only the backlash against ...
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World workers express anger, gloom on May Day
Seattle Post Intelligencer
Spanish Prime Minister Mariano Rajoy is trying desperately to cut a bloated deficit, restore investor confidence in Spain's public finances, lower the 24.4 jobless rate, and fend off fears it will join Greece, Ireland and Portugal in needing a bailout.
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GLOBAL MARKETS-Signs of slowdown in US, Spain weigh on stocks, euro
Reuters
Spain, the euro zone's fourth-largest economy, slipped into recession in the first quarter as domestic demand fell, joining Italy, Portugal, Ireland, Greece, Belgium and the Netherlands on the list of countries with shrinking economies.
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Trade unions stage protest on May Day in Greece
Press TV
European governments in Greece, Italy, Romania, the Netherlands, Portugal, Spain, Ireland crumble under the pressure of neo-liberal austerity policies imposed in recent years, as people are increasingly reacting against the rising control of Eurozone ...
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Press TV
Europe, in Slump, Rethinks Austerity
Wall Street Journal
Among the 17 euro-zone nations, Spain joined Belgium, Greece, Ireland,Italy, the Netherlands, Portugal and Slovenia in recession. Outside the bloc, the UK, Denmark and the Czech Republic are also in recession. But Germany, the main architect of the ...
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Anti-austerity anger sweeps Europe on May Day
Khaleej Times
“Already in Spain almost everyone is an intern up to the age of 30. And now employment insecurity is going to hit those in their 30s and 40s,” she said in the capital. Thousands more rallied in Athens, Thessaloniki and other cities aroundGreece, ...
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Oil Near Two-Day Low After China PMI Expands Less Than Forecast
BusinessWeek
Spain's gross domestic product fell 0.3 percent, the same as in the previous three months, the Madrid-based National Statistics Institute said yesterday. The European sovereign debt crisis that began in Greece and then moved toIreland, Portugal, Italy ...
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'Spain is not in a very good place, but from there to a bailout there is still...
FXstreet.com
Greece should probably be considered to be in a depression, since it is experiencing its 5th year of declining GDP growth. Italy,Portugal and Japan have had three; Ireland two. There has been no default in Spain, nor is that likely, and unemployment ...
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FXstreet.com
Dow, S&P 500 slip as Spain enters recession
BusinessWeek
The worry is that Spain's size could make it difficult to rescue. Its economy is roughly twice the size of the three other countries that have tapped the European Union for bailout loans added together -- Greece, Portugal andIreland.
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Workers around the world express anger, gloom on May Day
Salt Lake Tribune
Taking the baton from Asia, where unions demanded wage increases as they transformed the day from one celebrating workers rights to one of international protest, workers turned out in droves in Greece, France and Spain — the latest focus of a debt ...
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Europe's debt crisis is back
Rediff
As Greece demonstrated and Ireland, Portugal, Spain and Italyare demonstrating, massive fiscal tightening when combined with private sector reduction in debt merely puts the economy into recession. The LTRO does not improve the cost or availability of ...
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Rediff
Analyst Interview: Christopher Vecchio on the British Pound, Spain
DailyFX
How serious is the drag effect of Spain's problems on the euro? The seriousness of Spain's problems goes beyond the calamity experienced byGreece, Ireland, and Portugal combined. Consider this: according to the IMF, the nominal Spanish GDP for 2011 ...
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French Are Too Comfortable to Consider Reform
New York Times
This is partly because France has been immunized from the crushing bond market pressure that drove Greece, Ireland and Portugal to seek bailouts and Italy and Spain to undertake draconian austerity measures and structural changes.
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The Global Note: Chen's Escape – A Fellow Activist Speaks…After Bin Laden ...
ABC News (blog)
Among the 17 euro-zone nations, Spain joined Belgium, Greece, Ireland,Italy, the Netherlands, Portugal and Slovenia in recession. Outside the bloc, the UK, Denmark and the Czech Republic are also in recession. It has been the wettest April in the UK ...
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EMERGING MARKETS-Latam stocks fall in April on economy jitters
Reuters
Pressuring shares Spain, the euro zone's fourth-largest economy, slipped into recession in the first quarter as domestic demand fell. Spain joined Italy,Portugal, Ireland, Greece, Belgium and the Netherlands on the list of euro zone countries with ...
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Bonds Prove Only Winners for First Time Since 2008
Bloomberg
Greece's debt is 165 percent of gross domestic product, while that of Italy is 120 percent and Ireland and Portugal's is 108 percent, according to data compiled by Bloomberg. Germany's ratio is 81 percent and Spain's is 69 percent.
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Bloomberg
Europe focus of global May Day labour protests
BBC News
The new conservative government is battling to prevent Spainneeding an international bailout like those for Greece, the IrishRepublic and Portugal. "This day is an expression of rebelliousness... against the attack by the government upon the public ...
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BBC News
In the Euro Zone, False Narrative Dominates Debate
mydigitalfc.com
Taken as a group, the debt/gross domestic product ratios of the GIPSI's (Greece, Ireland, Portugal, Spain and Italy) were falling, not rising. What brought on the crisis were huge private capital inflows. Don't think runaway politicians; think German ...
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Will Germany Ride to Europe's Rescue?
theTrumpet.com
Of that amount, €54 billion was promised by Ireland, Portugal and Greece. But these nations are getting bailed out, so clearly they won't be able to follow through with their commitment. Spain has promised to contribute €92.5 billion.
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Asian Bourses Modestly Lower; European Bourses 'Flat'
Forex Pros
The main theme this morning is “modestly” as the of consequence is thatSpain has finally entered into a recession; which we do not consider news when one's unemployment rate is upwards of or above 20%, with Italy,Portugal, Ireland, Greece, ...
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Oil falls as Spain slips back into recession
Sydney Morning Herald
The European sovereign debt crisis that began in Greece and then moved toIreland, Portugal, Italy and Spain has reduced economic growth in the euro region. The dollar rose as much as 0.4 percent versus the euro. A stronger US currency decreases the ...
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Euro crisis could benefit some concepts
Nation's Restaurant News
In the worst affected countries like Portugal, Ireland, Greece and Spain, the man on the street is struggling to justify any spending on leisure. In stronger countries, such as Germany and Britain, the consumer has simply become more frugal — perhaps ...
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French Elections And The Eurozone: Between a Rock And A Hard Place
Seeking Alpha
In the eurozone, France has always been considered a member of the core with Germany, not of the periphery with Greece, Ireland, Portugal, Italy, andSpain. France's budget deficit is not in the same league as Greece's; it does not face a massive debt ...
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Democracy Vs. The Euro
Seeking Alpha
The capital inflows in the periphery created credit and housing bubbles (Spain,Ireland) and put countries to sleep with regard to any necessary adjustment in their public finances and/or trade balance (Greece, Portugal, Italy) as they could suddenly ...
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Voting Out Austerity in Europe
The American Prospect
A quick overview of the European real economy shows that eight eurozone countries—Spain, Greece (for the fifth straight year), Portugal, Ireland, Italy, the Netherlands, Belgium, and Slovenia—are now in recession. Outside the eurozone, recently ...
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Euro Stress Crosses Border Into the Netherlands
New York Times
Rather than protesting in the streets, though, as the people ofGreece, Spain and Italy have done, many Dutch are facing hard times with characteristically grim determination. “This country has always paid its debts, and the government needed to press ...
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New York Times
Crunch time looms for Germany | The Economic Voice
By Dominic Dean aka The Misplaced Economist
Governments in GreecePortugalIrelandItaly and Spain have already changed since the crisis first broke, but thus far there has been consensus on the need to cut fiscal deficits and boost competitiveness. This may be unsurprising where ...
The Economic Voice
EuroCrisis, Ireland, Italy, Portugal and Spain More Defaults Certain ...
Italy, Spain, Portugal and Ireland will want the same discounted exit that was given to Greece, and it is hard ... Morgan Stanley's net exposure to the five countries: Greece, Ireland, Italy, Portugal and Spain, was $4.01 billion ...News From Forex ...
www.ibtimes.com/.../eurocrisis-ireland-italy-portugal-spain-m...
Dutch PM Resigns, Clears Way For Elections : NPR
From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel. MELISSA BLOCK, HOST: And I'm Melissa Block. Spain, Italy, Greece,Ireland, Portugal, ...
www.npr.org/2012/.../dutch-pm-resigns-clears-way-for-electio...
The Franco-German alliance — doomed, or headed for a U-turn ...
... have turned the spotlight on a succession of countries — Greece, Ireland,Portugal, Spain and Italy — turning each into ... Sat, Apr 28, 2012 - Page 9News List ...
www.taipeitimes.com/News/editorials/archives/2012/04/28/.../1
Safe assets in Europe « Economy View
... recently released a new paper on the safe assets share of total assets in the... are safe assets, while periphery debt (Greece, Ireland, Portugal, Spain,Italy) ...
kkalev4economy.wordpress.com/2012/.../safe-assets-in-europe...
The Future of the Euro: Why Sentiment Alone Can't Save the Union ...
The economies of Spain, Italy, Greece and Portugal are all expected to ...Many others, including Germany, France and Ireland, will post only minimal growth. .... NEW YORK (AP) — News that Spain's economy entered another recession ...
business.time.com/.../the-future-of-the-euro-why-sentiment-al...
The New European Normal... Is Squiggly | ZeroHedge
Eurostat just updated their statistics for government debt to GDP for 2011, so here is an updated graph over Belgium, Italy, Greece, Portugal, Ireland,Spain, ...
www.zerohedge.com/news/new-european-normal-squiggly
Will Europe Break Up? - Seeking Alpha
Greece: 21%; Portugal: 11.5%; Ireland: 6.9%; Spain: 5.9%; Italy: 5% ....Author of the Katchum Macro-Economic Blog, monitoring breaking economicnews from a ...
seekingalpha.com/article/535711-will-europe-break-up
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