Today: EUROZONE Crisis News, Jun 11, 2012

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Jun 11, 2012

EUROZONE Crisis News, Jun 11, 2012

Euro crisis: It's still not over
CNNMoney
By Ben Rooney @CNNMoneyInvest June 11, 2012: 11:46 AM ET NEW YORK (CNNMoney) -- Spain officially requested a bailout for the nation's banks Saturday but euphoria about the weekend's announcement was short-lived. Stocks were lower Monday morning as the ...
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Spanish bailout, Greek elections make June a make-or-break month in debt crisis
Christian Science Monitor
By Thomas Kleine-Brockhoff / June 11, 2012 A man uses a Bankia bank automated teller machine in Madrid, June 11.Eurozone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks.
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Christian Science Monitor
PM Rajoy says his reforms saved Spain from full rescue
The Daily Star
MADRID: Prime Minister Mariano Rajoy tried Sunday to deflect withering criticism over his handling of Spain's debt crisis, saying the country had avoided a full rescue for its state debt due to his economic reforms and steps to cut the budget deficit.
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The Daily Star
Market euphoria over Spanish bank bailout fizzles
Reuters
... over 100 billion euro package fizzles fast * China urges euro zone to take more decisive action * All eyes on Greek election for next test in debt crisisBy Sonya Dowsett and Gareth Jones MADRID/BERLIN, June 11 (Reuters) -Financial market euphoria ...
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Italy - Factors to watch on June 11
Reuters
EURO ZONE CRISIS Euro zone finance ministers rushed Spain into an EU-funded rescue for its debt-stricken banks to pre-empt the threat of a bank run if Greece's debt crisis flares again but any respite for Madrid and the euromay be short-lived.
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Asian stock markets rise after eurozone steps in to rescue Spanish banks
CanadianBusiness.com
By Pamela Sampson, AP | June 11, 2012 BANGKOK - Asian stocks and theeuro climbed Monday after Spain sought a lifeline for its ailing banks, easing fears that Europe's debt crisis was about to spin out of control. Spain on Saturday asked finance ...
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Stock Market News for June 11, 2012
Zacks.com
The news brought relief to the markets as investors were worried over Europe's debt crisis, where, apart from Greece, Spain had become a major flashpoint. European finance ministries were well aware of Spain's dire need of a bailout and a source ...
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Markets Relieved at Spain Bailout Deal, Financial World Still Worried
Daily Beast
by Zachary Karabell Jun 11, 2012 4:45 AM EDT Stock markets are up on the news of an $125 billion agreement to bail out Spain, but the financial commentators aren't convinced—and are still gearing up for economic Armageddon. They're wrong to panic, ...
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Daily Beast
US Gasoline Sinks Amid Euro Zone Stress, Lundberg Survey Shows
BusinessWeek
By Aaron Clark on June 11, 2012 The average price of regular gasoline at US filling stations declined 15.9 cents in the past three weeks to $3.6243 a gallon, according to Lundberg Survey Inc. The survey covers the period ended June 8 and is based on ...
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Spain banks rescue fails to restore confidence
Knoxville News Sentinel
(AP Photo/Daniel Ochoa de Olza) A demonstrator hits a pot during a protest against the financial crisis and the latest government Economic measures in Sol square,in Madrid Sunday June 10, 2012. Spain's grinding financialmisery will get worse this year ...
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Relief at Spain Bailout Package Proves Short-Lived
TIME
By AP | June 11, 2012 | + AP Spain's fans gesture during theEuro 2012 soccer championship Group C match between Spain and Italy in a fan park in Madrid, Spain, Sunday, June 10, 2012. (AP Photo/Andres Kudacki) MADRID — Market relief that Spain had ...
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TIME
Rescue for Spanish banks buys Europe's policymakers time to fix euro crisis...
CanadianBusiness.com
By Paul Wiseman,Peter Svensson, AP | June 11, 2012 A woman looks at an item she just bought on a terrace in downtown Madrid, Saturday June 9, 2012. Spain will ask for a bank bailout from the eurozone, becoming the fourth and largest country to seek ...
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Stock market report: June 11, 2012
Liverpool Daily Post
... 100bn euro (£81bn) bailout. The FTSE 100 Index pulled back to close 2.7 points lower at 5432.4 after enjoying gains of 2% earlier in the session, as the move to shore up the country's banking sector seemed to calm fears over theeurozone crisis.
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Euro rises as Spain hails eurozone lifeline for banks
Jakarta Globe
by Katell Abiven | June 11, 2012 Markets reacted positively in early trading Monday after Spain's leader hailed a eurozonelifeline of up to 100 billion euros ($125 billion) to save the country's stricken banks. Despite flatly denying any need for a ...
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Jakarta Globe
Spanish Bailout or 'Failout'?
Minyanville.com
By Satyajit Das Jun 11, 2012 9:40 am On April 11, 2011, then SpanishFinance Minister Elena Salgado stated: “I do not see any risk of contagion. We are totally out of this.” A little over a year later, Ms Salgado and her party are no longer in power ...
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Euro Area Took Decisive Action for Spain Banks, EU's Rehn Says
BusinessWeek
By Jones Hayden on June 11, 2012 The euro area took “decisive action” in agreeing to provide Spain with a bailout of as much as 100 billion euros ($125 billion) to shore up its banking industry, European Union Economic and Monetary Affairs Commissioner ...
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Euro, bank stocks rise in relief on Span's 100 billion package
StarPhoenix
But previous “bailout bounces” on financial markets have been short-lived, often fizzling within a day or two as investors anticipate the next flare-up in theeuro zone's unresolved debt crisis. Greece's general election next Sunday could rapidly ...
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Mariano Rajoy Sugarcoats European Unions $125 Billion Spain Bailout
Daily Beast
by Mike Elkin Jun 11, 2012 4:45 AM EDT No problem! A reeling Spain has agreed to ask the European Union for $125 billion to rescue its banks, but its prime minister is still trying to make the deal look like a political win.
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Daily Beast
Analysis: EU's Spain Bank Rescue May Bring only Brief Respite
Insurance Journal
By Paul Taylor | June 11, 2012 Euro zone finance ministers rushed Spain into an EU-funded rescue for its debt-stricken banks to pre-empt the threat of a bank run if Greece's debt crisis flares again but any respite for Madrid and the euro may be ...
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Monday Morning Interest Rate Update (June 11, 2012)
Move Smartly
So what does this mean for the euro-zone crisis and, more importantly for my readers, Canadian mortgage rates? First, this latest bailout unfolded in the same manner as each of its predecessors. The euro-zone's leaders waited until what seemed like the ...
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Despite bailout, pain in Spain will get worse this year
TheChronicleHerald.ca
June 11, 2012 - 4:13am By AP A woman begs in the street at Sol square, in Madrid Sunday. Her sign reads: "I suffer from diabetes, and heart failure. I have no family, I have no more help than your donations. Oh God, I ask to help me with food or money.
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TheChronicleHerald.ca
European Union: A Dysfunctional Nation
Minyanville.com
By John Mauldin Jun 11, 2012 9:25 am What type of "therapy" will be needed to treat the dysfunctional family that Europe has become? This article was originally published on June 9 in John Mauldin's weekly e-letter. 1. (Medicine) Med (of an organ or ...
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Spain sticks to funding plans after bank rescue
Reuters
MADRID, June 11 (Reuters) - Spain said it would stick to this year's programme of fundraising in financial markets after the rescue of its banks over the weekend relieved pressure on debt and equities. Spanish and Italian bond yields fell on Monday, ...
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Spain's $125 bln aid deal calms Europe fears
The Daily Star
By Angela Moon NEW YORK: US stocks will get a lift Monday after eurozone finance ministers agreed to lend Spain up to 100 billion euros ($125 billion) to help its battered banks. The surprisingly large amount of aid removes a huge cloud that has been ...
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The Daily Star
China urges more decisive action on euro crisis
mydigitalfc.com
By Reuters Jun 11 2012 , Beijing billion euros to shore up its teetering banks was a welcome short-term fix, but urged the bloc to take more decisive action to safeguard longer term stability. A bailout for Spain's banks, beset by baddebts since a ...
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Ghosts of past and present haunt Euro 2012
DAWN.com
Front pages of newspapers and magazines are spread out for a photograph a day before of the Euro 2012 soccer championship Group A match between Poland and Russia in Wroclaw, Poland, Monday, June 11, 2012. Polish papers went to town Monday on references ...
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Rescue loans for Spain's banks buys Europe time
STLtoday.com
AP | Posted: Monday, June 11, 2012 6:28 am | ( Loading… ) comments. Spaniards dressed up like Bishops for a stag party play the role of a confessor in downtown Madrid, Saturday June 9 2012. Spain will ask for a bank bailout from the eurozone, ...
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Eurozone crisis: Italy replaces Spain in the crosshairs - Financial Post
Now Italy's in the crisis crosshairs. Andrew Davis and Nadine Skoczylas, Bloomberg News Jun 112012 – 9:30 AM ET | Last Updated: Jun 11201212:35 PM ET. Bloomberg. Italy has 2 trillion euros of debt, more as a share of its economy ...
FP Top Stories List
Telefonica to Exit Chinese Assets - Zacks.com
By Zacks Equity Research
In order to to improve its financial flexibility, Telefonica plans to sell almost half of its stake in China Unicom. ... increase its financial flexibility. Telefonica operates with a high debt level of €57.1 billion as of March 2012 versus €56.3 billion at the end of 2011 and €55.6 billion at the end of 2010. In addition, the ...Telefonica is underperforming in its home market and woes are getting deeper with the unresolved Euro-zone crisis. Additionally ... Market Summary, Jun 11,2012 13:26 pm ET ...
Zacks Investment Research - All...
END OF GROWTH UPDATE: Neither a borrower nor a lender be ...
By simoneosborn
Published Jun 11 2012 by Post Carbon Institute, Archived Jun 11 2012 ... In The End of Growth, published in September 2011, I made the observation that world economic expansion, which has been barreling along for the past few decades, is now stalling. The book ... Indeed, Germany has consistently opposed initiatives to end the euro zone crisiseuro-area bonds, a more activist role for the European Central Bank, and a drastic increase in the size of the European bailout fund.
Energy Bulletin -
the nanyang post: Asian stocks, euro jump on Spain bank bailout
By StraitsBlogs
Hong Kong, June 112012 (AFP) - Asian markets and the euro rallied Monday after the eurozone agreed to lend Spain up to $125 billion to save its banks, but analysts warn the deal is just a sticking plaster for Europe's wider problems. The weekend also saw ... After an emergency video conference lasting more than two hours on Saturday, eurozone finance ministers issued a statement saying they were "willing to respond favourably" to a Spanish plea for help for its stricken lenders.
the nanyang post
Museletter #214: End-of-Growth Update Part 1 | Richard Heinberg
By admin
I argued that economic contraction is inevitable at some point since we are already over-using most of Earth's important resources, and that limits to debtand to affordable oil supplies, along with worsening environmental disasters, are conspiring to bring about the ... Indeed, Germany has consistently opposed initiatives to end the euro zone crisiseuro-area bonds, a more activist role for the European Central Bank, and a drastic increase in the size of the European bailout fund.
Richard Heinberg
Relief for Spain's banks doesn't end the eurozone crisis – USA TODAY
By Newswires
The GuardianRelief for Spain's banks doesn't end the eurozone crisisUSA TODAYWASHINGTON – A $125 billion plan to rescue Spain's banks won&...... WASHINGTON – A $125 billion plan to rescue Spain's banks won't solve Europe's debt crisis or ease the pain of double-digit unemployment across the continent. But it is likely to ... Euro Crisis Solved, for the Umpteenth TimeTheStreet.com ... This entry was posted on June 112012 at 7:13 am and is filed under European Crisis.
The Wall Street Examiner
Ellen Brown: Greece and the Euro: Fifty Ways to Leave Your Lover
By Ellen Brown
June 1st article in the UK Telegraph titled "Why Europe's Love Affair with the European Project Is Ending" reported that two-thirds of 9000 respondents thought that having the euro as their single currency was a mistake. For Greece, it ... The forefathers of the euro have left many monetary windows open, which, if used correctly, can solve the European debt crisis in a very short period without taxpayer funds. He cited .... Eurozone Debt Crisis :: The Market Oracle :: Financial Markets .
The Huffington Post Full Blog Feed
Europe faces many challenges to preserve euro currency - Jun. 11 ...
But unease over Greek elections and concerns about the eurozone economy continue to hang over ... Europe's Debt Crisis. comments. Euro crisis: It's still not over. By Ben Rooney @CNNMoneyInvest June 11, 2012: 11:46 AM ET ... European Union finance ministers agreed Saturday to lend up to €100 billion to the Spanish ...
money.cnn.com/2012/06/11/investing/euro-debt.../index.htm
Bernanke Warns Eurozone Debt Crisis, Fiscal Cliff ...
Bernanke Warns Eurozone Debt Crisis, Fiscal Cliff. June 11, 2012. Euro ...number of eurozone countries continued to create strains in global financialmarkets.
www.hispanicbusiness.com/.../bernanke_warns_eurozone_deb...
Eurozone Debt Crisis Gets More Costly with Spain's Latest Move ...
Tack another $125 billion to the Eurozone debt crisis cost. ... June 11, 2012... Fund to commit some $625 billion (500 billion) euros to finance European bailouts.
moneymorning.com/.../eurozone-debt-crisis-gets-more-costly-...
From Crisis to Carnival: Euro gives a breather
Thrilling encounters of Euro soccer has given analysts and experts a welcome break to ... Monday, June 11, 2012, 14:36 [IST] ... in the eurozone, which continues to wade through a serious financial crisis since the end years of the last decade. ... The third 'debt club' member, Ireland, although lost their inaugural match to ...
news.oneindia.in/.../euro-soccer-gives-welcome-break-from-e...
Euro Watch - The New York Times
Europe Dodges a Bank Crisis in Spain, but Perils Lurk (June 11, 2012) ... a 100 billion euro, or $126 billion, infusion of capital for the financial sector. But a morning rally in Spanish government debt had largely fizzled by afternoon.... problems,” Kenneth Wattret, chief euro zone economist at B.N.P. Paribas in London, said.
www.nytimes.com/2012/06/12/.../daily-euro-zone-watch.html
Eurozone breakup will be more disastrous than 2008 economic crisis
June 11 2012 – ECONOMY - Chief economic advisor Kaushik Basu has warned ... debt and bondholders, and eyed the next risks in the euro zone's debt crisis.
theextinctionprotocol.wordpress.com/.../eurozone-breakup-wil...
Eurozone crisis: Italy replaces Spain in the crosshairs - Financial Post
Italy has 2 trillion euros of debt, more as a share of its economy than any ...Andrew Davis and Nadine Skoczylas, Bloomberg News Jun 11, 2012 – 9:30 AM ET ...
business.financialpost.com/.../now-italys-in-the-crisis-crosshair...
The euro zone crisis: Old maid | The Economist
The euro zone crisis. Old maid. Jun 11th 2012, 14:51 by Buttonwood ...THE Spanish debt deal may relieve the short-term pressure on the country'sfinancial ...
www.economist.com/blogs/buttonwood/.../euro-zone-crisis-2
Debt relief or default inevitable in Spanish crisis - The Irish Times ...
The Irish Times - Monday, June 11, 2012 ... The euro zone must recognise that some form of debt relief, or default, will be inevitable. This could come through ...
www.irishtimes.com/newspaper/finance/.../1224317688305.ht...
Euro Zone Agrees To Lend Spain Up To 100 Billion Euros
After a 2 1/2-hour conference call of the 17 finance ministers, which several... would make it the fourth country to seek assistance since Europe's debtcrisis began ... Washington, which is worried the euro zone crisis could drag the U.S. ... June 11, 2012 .... Reuters | Posted: 06/09/2012 1:35 pm Updated: 06/10/2012 9 40 am ...
www.huffingtonpost.com/.../euro-zone-agrees-to-lend-_n_158...
Market euphoria over Spanish bank bailout fizzles | Reuters
10 Jun 2012 ... MADRID/BERLIN | Mon Jun 11, 2012 1:32pm EDT ....comments by U.S. officials worried that the euro zone debt crisis is hurting world economic ...
www.reuters.com/.../us-eurozone-spain-idUSBRE85908Z2012...
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