Europe's Debt Crisis: The Fires Behind Smoke and Mirrors
Wall Street Pit
EU institutions are forced to take a large haircut on the debt stock. Political crisis of the EU when it becomes clear that the EU has to take a hit of EUR150-200bn (to put this into perspective, the EU budget is EUR133bn…). That doesn't only threaten ...
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ECB WATCH: Bank Officials Step Up Anti-Default Rhetoric
Wall Street Journal
Meanwhile, governing council member Ewald Nowotny said a restructuring of Greece's sovereign debtwould only deepen the country's crisis, hitting banks in Greece and elsewhere in the euro zone. The comments come amid signs that Europe's sovereign-debt ...
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Debt and Taxes in the Eurozone
Project Syndicate
BRUSSELS – The current crisis in the eurozone is known around the world as the “euro sovereign-debt crisis.” But the crisis is really about foreign debt, not sovereign debt. The importance of foreign debt is well illustrated by the case of Portugal: ...
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Euro finance chiefs to name ECB successor
Channel News Asia
Italian central bank governor Mario Draghi, who sits on the ECB board, is seen as the favourite to take over amid a relentless debt crisis in Europe. Next week's meetings will serve as a "first round" of discussion if several candidates come forward, ...
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EUR/USD reached a new reaction high at 1.4940 early last week
FXstreet.com
For now, we have the impression that it is still a bit too early for EUR/USD to ignore the negative headlines on the European debt crisis. This after-noon, EU's Rehn will brief the press on the bailout package for Portugal. We don't expect him to bring ...
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FXstreet.com
Slovak PM: Debt Restructure Could Help Greece Regain Its Edge
Wall Street Journal
"It's not such an easy decision, it's risky," Radicova said of abandoning the euro. "I'm not so sure it's possible." She said she continues to believe that banks and other investors must share the burden of resolving the euro zone's fiscal crisis. ...
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Forex Market Lacks Conviction
Seeking Alpha
The flare-up of the euro zone debt crisis is helping to mitigate what has been the main driver of the dollar, namely the divergent monetary paths. Greece six-month bill auction showed a minor 8 bp yield increase from April. ...
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ECB's Trichet Shouldn't Go All In on Greece
Wall Street Journal
A year ago Tuesday, the European Central Bank began buying Greek government debt in a bid to end thecrisis gripping euro-bond markets. The move came four days after Mr. Trichet, head of the ECB, said such an option hadn't been discussed. ...
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Gold Targets Record €1072/oz on Risk, Contagion
Resource Investor
“The focus could remain on Greece,” said Ong Yi Ling, a Singapore-based analyst at Phillip Futures Pte Ltd. “Safe-haven inflows into gold and silver may increase if the euro-zone debt crisis accelerates.” Greece's money managers warned of further ...
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PRESS DIGEST - Wall Street Journal - May 10
Reuters
A cut to Greece's credit rating sparked a selloff in the bonds of highly indebted euro-zone countries, fueling concerns that Europe's debt crisis is coming to the boil once more. * Citigroup Inc became a $40 stock for the first time since late 2007, ...
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Delegation of Irish trade unionists brief Finland counterparts
BreakingNews.ie
... a series of meetings with its EU counterparts to ensure union leaders in the euro zone have an accurate picture of the Irish situation. According to ICTU, the problem in Ireland indicates a deeper EU banking anddebt crisis that must be resolved. ...
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Expect a drop in Ireland's bailout interest rate - Rehn
Irish Independent
There was not a crisis of the Euro, but a sovereign debt problem in some Euro zone countries, Mr Rehn told reporters. Meanwhile, German chancellor Angela Merkel refused to commit to a further bailout for Greece saying that an assessment of the ...
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Wall Street shrugs off EU woes
ABC Online
In Europe, the value of the euro fell against all major currencies after rating agency Standard and Poor's cut Greece's credit rating again, renewing concern that regions debt crisis is worsening. Moody's agency signalled it will do the same. ...
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Fiscal Crisis in Europe or a Crisis of Distribution? A transitional program ...
CADTM.org
The crisis was tamed via major banking rescue packages and fiscal stimuli. Now the financial speculators and corporations are relabeling the crisis as a “sovereign debt crisis” and pressurizing the governments in diverse countries ranging from Greece ...
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ECB Mersch: No Room For Talk Of Not Repaying Bank Debts
Wall Street Journal
The spread, or higher interest costs, that weak peripheral euro-zone governments are now paying on public debt compared with Germany has shot up since the crisis. High spreads have eventually lead to huge bailout loans for Greece, Ireland and, ...
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Gold dealers provide needed cash in struggling Spain
GlobalPost
A decade-long real estate boom collapsed as the world financial crisis hit in 2008, followed by the euro zone's own debt drama last year. Spain remains among the nations that face intense speculation over their ability to finance government debt. ...
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GlobalPost
"EU helped fuel Irish casino economics" - TD
Inishowen News
“There is a certain irony that this debate comes after a weekend of intense speculation on the ongoingcrisis of the Eurozone and a discussion - provoked by economist Morgan Kelly – on the origins, impacts and alternatives to the EU/ECB/IMF austerity ...
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TREASURIES-Middle of curve outperforms; uncertainty feeds bid
Reuters
Officials also said the European Union was also considering lower interest rates on rescue loans to Ireland and easier bailout terms for Greece as the common currency region floundered deeper into crisis. Standard & Poor's suggested Athens might have ...
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Pound has weakened against the Greenback
FXstreet.com
The downgrade of Greece's debt rating once more by S&P and the focus on the regions debt crisis put the brakes on this rally and the Kiwi hence dropped back below 0.7900 to find support just below at 0.9895. A late rally in US stocks and commodities ...
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Business News Highlights - Economy Stocks Commodities Forex
Oil & Gas Financial Journal
Last week, the same German rag of a publication that wrongly said Greece would sell the Acropolis, speculated irresponsibly that Greece was considering exiting the euro zone. Meanwhile, S&P cut its ratings for Greece's many debt instruments. ...
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Greeks bailout audited as eurozone debt storm rages
Brisbane Times
A Greek debt "disaster" would hit the entire eurozone, a senior European official warned on Tuesday, as an audit of Athens' reform efforts began amid rampant talk of a second bailout or restructuring. Experts from the European Union, ...
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Resurgent Greek Debt Crisis Stokes Concern, Causes S&P to Lower Rating
Seeking Alpha
By David Zeiler Concern that the Greek debt crisis is far from resolved led Standard & Poor's to lower that troubled country's debt rating even deeper into junk territory yesterday (Monday). The S&P cut Greece to B from BB- with a warning it could ...
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Commodities After The Crash, No Way But Up
The Market Oracle
The financial and monetary risk of a sudden plunge into steep recession, as in 2008, driven by nationaldebt funding crisis, also generates so much new liquidity on financial markets, including commodity markets, that until the global economy crashes ...
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Business digest
Daily Gleaner
ATHENS/BRUSSELS - Credit ratings agencies hammered Greece on Monday after senior euro zonepolicymakers acknowledged that Athens will need a second bailout package soon to avert a disorderly overhaul of its debt obligations. Officials said the European ...
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Today's Live Show: The Greek Drama and its Impact on the EUR
FXstreet.com
With rumors of a Greek exit from the Euro-zone and speculation about more money needed to bailout the indebted nation still circling the financial headlines, we focus on the EUR and explore the impact of the next phase of the EU debt crisis on the ...
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Yen, Franc Drop as Stocks Advance; Euro Fluctuates on Greece
BusinessWeek
Speculation about new financial assistance from Europe and the IMF came after S&P yesterday downgraded Greece's credit rating for the fourth time since April 2010, rekindling concern that the region'sdebt crisis is escalating. New Zealand's dollar may ...
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Greek bailout hopes support European stocks, euro
Sarasota Herald-Tribune
That's why EU policymakers, including at the European Central Bank, have insisted that a restructuring - favored by many economists - would not be the panacea to Europe's or Greece's debt crisis. Lorenzo Bini Smaghi, a member of the European Central ...
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European officials: Greece may get more aid soon
Houston Chronicle
Whether Greece receives more help with its financial crisis will likely depend upon a June report by debtinspectors. German Chancellor Angela Merkel, whose country is the largest contributor to a euro110 billion ($158 billion) package of bailout loans ...
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EU paymaster Merkel guarded on new aid for Greece
Sify
"That would only heighten the crisis." ECB executive board member Lorenzo Bini Smaghi said a euro zone debt default or restructuring would be "political suicide". Speaking in Florence, Bini Smaghi said Greece was a rich country with assets it could ...
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Sify
Debt inspectors in Athens; Greece auctions T-bills
DailyFinance
"This was not a 'crisis meeting on Greece,'" Amadeu Altafaj Tadio, spokesman of EU's Monetary Affairs Commissioner Olli Rehn, said of the gathering that took place Friday in Luxembourg, stressing that "there have been informal meetings with different ...
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Rumors And Bailouts
istockAnalyst.com (press release)
... within the eurozone member and still reap the benefits euro membership provides. Simply, while theeuro has its drawbacks (amply illustrated by debt crisis), it also carries numerous benefits that are hard to duplicate without the common currency. ...
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Greece taps markets after rating cut, EU mulls help
TrustLaw
EU officials have ruled out the prospect of Greece leaving the 17-member euro zone and said restructuring its 327 billion euro debt would offer no permanent solution to its problems. Euro zone finance ministers will discuss the Greek debt crisis on May ...
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EU paymaster Merkel guarded on new aid for Greece | BREAKING NEWS
By Reuters: Top News
Euro zone markets steadied amid growing expectations that Greece may receive a new aid package to cope with its debt crisis and avert an early restructuring that could force investors to take crippling losses. But Greek and EU officials ...
BREAKING NEWS - http://eyelawview.com/
NewsDaily: EU paymaster Merkel guarded on new aid for Greece
By Ingrid Melander and Stephen Brown
NewsDaily: Your best source for breaking news ... "That would only heighten the crisis." ECB executive board member Lorenzo Bini Smaghi said a euro zone debt default or restructuring would be "political suicide." Speaking in Florence, Bini Smaghi said Greece was a rich country with assets it could sell to pay down ...
NewsDaily: Business Headlines - http://www.newsdaily.com/
While Greece denies rumors of leaving the eurozone, S&P lowers its ...
By admin
Now the fiscal problems of peripheral countries might become a drag on the European currency again. We still think that EUR/USD is not the optimal way to play this new round of the EMU debt crisis.” Tags: Article In Der Spiegel Athens ...
forex, trader, signals, exchange... - http://www.forex6.net/
Managing a fragile Eurozone | vox - Research-based policy analysis ...
This column argues that the reason lies in the Eurozone's fragility. Its members lose their ability to issue debt in a currency over which they have full control . The column discusses ways to deal with this weakness. A monetary union is more than .... In the absence of a political union, the member countries of the Eurozone are condemned to fill in the necessary pieces of such a collective mechanism. The debt crisis has made it possible to fill in a few of these pieces . ...
VoxEU.org: Recent Articles - http://www.voxeu.org/
Resurgent Greek Debt Crisis Stokes Concern, Causes S&P to Lower ...
By David Zeiler
"Because the whole assumption when the Eurozone put together a rescue package last year was that Greece would come back into the market and borrow. The market is quite skeptical about this happening."... European Debt Crisis: How to Profit No Matter What Happens; The Financial Times: Q&A: Pressure on Greece; New York Times: Greek Leader Irked by Speculation on Debt; Bloomberg News: Greece Says Improving EU Loans Preferable to Restructuring ...
Money Morning - http://moneymorning.com/
Euro crisis: “This is Europe's awful dilemma. The patient is the ...
By Pete Baker
For Ireland, the Common Agricultural Policy would disappear overnight, as might its access to EU markets for other products, at least until the debts it owed had been collected by other means. ...http://www.rte.ie/news/2011/0510/bailout. html. “EU economic affairs commissioner Olli Rehn has said to 'expect' a drop in interest charged to Ireland on its bailout loans.” However, so large is the loan that it will still cripple the Irish economy in my view. What do you think? ...
Slugger O'Toole - http://sluggerotoole.com/
The Euro crisis | FavStocks
By John Redwoods Diary
At the end of last week a wide ranging discussion about how to tackle the Greek debt crisis again led to German speculation that Greece was about to leave the Euro zone. The EU authorities moved quickly to deny that strongly. ...
FavStocks - http://www.favstocks.com/
Rescue auditors probe Greece amid eurozone debt storm (AFP) | www ...
By marketmaker
The auditors, arriving amid speculation that Greece is again in deep trouble, will decide if the country is meeting conditions of an EU-IMF three-year rescue package worth 110 billion euros ($157.6 billion).The release of the fifth slice of ... Growing talk of restructuring by Greece, the first eurozone member to receive a bailout a year ago, points to a new stage in the debt crisis that has driven Ireland and Portugal to seek aid and forced draconian budget cuts in Spain ...
Bullfax.com - Market News & Analysis - http://www.bullfax.com/
Euro zone takes third debt crisis patient into care (Reuters ...
Euro zone takes third debt crisis patient into care (Reuters) ... of Lisbon's decision to accept a multi-billioneuro bailout from the European Union and IMF on Wednesday, ... Portugal bailout terms severe, EU says (AP) · See full news ...
www.newspak.net/news/business/p27259.html
The Euro crisis - Silobreaker
The Euro crisis. At the end of last week a wide ranging discussion about how to tackle the Greek debt crisis again led to German speculation that Greece was ...
www.silobreaker.com/the-euro-crisis-5_2264558914907406500
Carver PA Corporation :: Euro zone takes third debt crisis patient ...
But a senior euro zonesource said the range EU officials were working with was still ... More than a year into the sovereign debt crisis, which at its peak ... The Carver news team is determined to keep you up to date with the latest ...
www.carvercorporation.com/.../Euro-zone-takes-third-debt-cri...
Euro zone takes third debt crisis patient into care
Euro zone takes third debt crisis patient into care ... talked up the benefits of Lisbon's decision to accept a 78-billion-euro bailout from the European Union and IMF on Wednesday,. ... Full Article at ABC News. Belfast Telegraph logo ...
features.rr.com/article/0cGY2Zp14H1AY?q=Ireland
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