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Dec 8, 2011

EUROZONE Crisis News, Dec 08, 2011

Sarkozy, Merkel press debt plan with EU allies
USA Today
"If France and Germany are offering answers today, it's not just because they are the two largest economies of the euro zone," Fillon told members of the center-right European People's Party in Marseille on Wednesday. "It's also — recognize it, ...
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EUROPEAN UNION News, Dec 08 2011

Merkel, hours before crucial Euro summit, reiterates need for EU treaty change ...
EUX.TV
Her comment, made in this speech in Marseille, came only hours before the start of the crucial EU summit in Brussels. Merkel appears to be on a collission course with other EU leaders such as French President Nicolas Sarkozy and European Council ...
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Euro zone will survive but EU summit will fail: Reuters poll
Reuters
But changes to the treaty face opposition from EU members outside the euro zone and countries such as Britain and Finland have threatened to block the deal unless they win safeguards protecting national interests. Ahead of the eighth summit this year, ...
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Q&A: David Cameron and the EU summit on the eurozone
BBC News
UK Prime Minister David Cameron is facing political pressure in the UK and in Europe over proposed action to help the eurozone. Here is a guide to the position he finds himself in: The EU summit on Thursday and Friday is billed as one of the most ...
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Oil down on economic worries, awaits EU summit
Reuters Africa
ECB cuts rates but does not see further paring * Big drop in US jobless claims shrugged off * EU summit results awaited, strategies cloudy (Recasts, updates throughout, previous LONDON) By Gene Ramos NEW YORK , Dec 8 (Reuters) - Crude oil futures fell ...
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Q+A: How will markets react to crucial EU summit?
Reuters
By Anirban Nag and Simon Jessop LONDON (Reuters) - European Union leaders are under pressure to agree on moves towards closer fiscal union to rein in theeuro zone debt crisis, not least because it will determine the fate of financial markets. ...
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Euro zone to lend IMF 150 billion euros, push forward
Reuters
Speaking hours before a European Union summit aimed at showing the bloc can get the spiraling debt crisis under control, the source said the IMF money would come via bilateral loans from national central banks in the 17 euro states. ...
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Asia-Pacific stocks fall on EU summit doubts
India Infoline.com
Asia-Pacific equities dived in red terrain on Thursday, as investors opted for profit booking following sharp rally prior day on renewed doubt that an EU summit will generate a comprehensive deal to tackle the region's debt crisis after pessimistic...
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On the Radar: Fast and Furious hearing, EU summit, ex-coach's accuser
CNN (blog)
European Union summit: Investors in the United States and elsewhere will be looking for a number of news items from Europe on Thursday, including aEuropean Union summit in Brussels, Belgium, focused on resolving the region's debt problems and saving ...
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Europe in crisis, Balkan hopefuls still knocking on EU door in sideshow to summit
Washington Post (blog)
BELGRADE, Serbia — As the world nervously watches whether European leaders can save the EU from breakup, another drama brews on the sidelines: the membership struggles of nations trying to break in. On Friday, the day of a crucialEU summit on solving ...
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EU summit signals crunch time for Cameron amid Eurosceptic posturing
The Guardian
David Cameron arrives in Brussels on Thursday night for a Europeansummit, buffeted by the conflicting pressures of a Eurosceptic cabinet rebellion over an EU referendum and increasing isolation in key capitals across Europe. ...
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The Guardian
PRECIOUS-Gold edges down ahead of ECB, EU summit
Reuters
France and Germany are to sound out conservative European leaders on Thursday about their plan to defuse the euro zone's debt crisis, eager to rally support before a high-stakes EU summit on Friday. * But pessimistic comments from EUpaymaster Germany ...
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US 'has very strong interest' in EU summit success
AFP
MILAN — The United States has a "very strong interest" in a successful outcome from the European Union summit starting later on Thursday, US Treasury Secretary Timothy Geithner said during a visit to Italy. "The US and the world economy as a whole has ...
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AFP
Stalemate ahead of Euro summit
The Australian
Meanwhile, British Prime Minister David Cameron was defied by senior members of his Conservative Party and shunned by EU powerbrokers as he struggled to maximise Britain's clout at the summit. Mr Cameron is wary of losing influence within Europe if ...
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Market Morning: EU Summit, Corzine, Boeing
TheStreet.com
ECB President Mario Draghi has said the bank is ready to do more to support bond markets provided EU leaders can agree to closer budget controls among the 17 eurozone countries. Germany and France proposed a plan for tougher budget rules that will be ...
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Asia stocks slump ahead of EU summit; Nikkei falls 0.7%
Moneycontrol.com
European leaders are to discuss proposed changes to EU treaties which would allow for greater fiscal integration and stricter enforcement of budgetary discipline in the single currency bloc. Focus on the summit has intensified since ratings agency ...
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EU summit to push forward ESM to 2012-euro zone official
Reuters
BRUSSELS Dec 8 (Reuters) - European Union leaders are likely to decide on Thursday and Friday to bring forward the launch date of the euro zone's permanent bailout fund, the European Stability Mechanism (ESM), to 2012 from the initially planned ...
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GRAINS-US wheat, corn extend losses; EU summit eyed
Reuters Africa
Wheat, corn, soybean fall, tone cautious * Eyes on EU summit, USDA report on Friday (Updates prices) By Lewa Pardomuan SINGAPORE, Dec 8 (Reuters) - US wheat and corn futures extended losses on Thursday as concerns about weakening demand resurfaced and ...
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EU summit: How to judge success or failure for UK
BBC News
But the summit communique promises that the eurozone would not do anything to undermine the single market in financial services. Neither the EU nor the eurogroup agree to an explicit deal on further integration of the eurozone but sign up to some broad ...
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BBC News
Euro Slips, Pound Lifts, EU Summit Looms
CNBC.com
The Bank of England holds steady, New Zealand stands pat, and everyone is watching the EU summit - it's time for your FX Fix. Officials played down expectations for the European Union summit, and the euro weakened. [CNBC] Investors expect an interest ...
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TSX slides on ECB comments ahead of EU summit
Reuters Canada
The euro summit is key," said George Vasic, chief economist and equity strategist at UBS Securities Canada. "We've had a big run-up coming into it and I think investors are getting cold feet in terms of how much will be accomplished. ...
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US wheat, corn extend losses; EU summit eyed
Reuters Africa
Wheat, corn, soybean fall, tone cautious * Eyes on EU summit, ECB rates decision * USDA report on Friday also in view (Updates prices, adds European trade, dateline pvs SINGAPORE) By Michael Hogan and Lewa Pardomuan Hamburg, Dec 8 (Reuters) - US wheat ...
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S Korea Won Down Late Before EU Summit; BOK Keeps Rate Unchanged
Wall Street Journal
SEOUL (Dow Jones)--The South Korean won was lower against the US dollar late Thursday as investors turned cautious ahead of a European Union summit later in the global day. Market participants became risk averse as Standard & Poor's Ratings Services ...
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METALS-LME copper treads water ahead of EU summit
Reuters Africa
A senior German government official doubts that a deal will be reached at Friday'ssummit where France and Germany are endorsing a plan that would impose stricter fiscal discipline among euro zone countries. The EU meeting, along with possible ...
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Critical EU summit 'facing stalemate'
NEWS.com.au
A CRUCIAL EU summit called to save the euro from break-up under intense pressure from markets worried about runaway government and banking debts has hit a difficult crossroads, a senior negotiator says. According to this source, huge differences were ...
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EU's Juncker tells Cameron 'don't block summit deal'
Telegraph.co.uk
Mr Cameron is facing a Conservative revolt over Europe as he prepares to travels to Brussels for a summit on plans to resolve the eurozone debt crisis with closer fiscal union that will need an EUtreaty change. Owen Paterson, the Northern Ireland ...
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Telegraph.co.uk
EU summit: Scrabbling to extend euro road — RT
By RT
The Merkozy plan is number one on the agenda of the rescue summit in Brussels touted the “last chance” to save the euro. But it could lead to a split of the union, if non-eurozone EU countries refuse to accept the amendments.
News RSS : Today
Looking Toward the EU Summit - Zacks.com
By Sheraz Mian
Looking Toward the EU Summit-The expectation is that following a favorable conclusion of the EU summit, the ECB will have the requisite mandate to start playing an anchoring role.
Zacks Investment Research - All...
Gold Futures Ease Down With EU Summit, ECB In Focus
By Forexpros
Forexpros – Gold futures were modestly lower on Thursday, as investors awaited the outcome of the European Central Bank's policy meeting later in the day amid growing uncertainty ahead of a critical two-day European Union summit. ...
DailyMarkets.com
On the Radar: Fast and Furious hearing, EU summit, ex-coach's ...
By jasonhanna
Three things to follow Thursday: Fast and Furious hearing: U.S. Attorney General Eric Holder faces what is expected to be a stormy congressional hearing on a flawed gun sting operation known as Fast and Furious.
This Just In
Hope Seems Lost for the EU Summit – Is this Intended to “Convince ...
By Yohay
As leaders begin pre-summit meetings towards tomorrow's big summit, the situation looks bad. The refusal of the ECB to accept more bond buying or support a circular move through the IMF is the main drag, but not the only one.
Forex Crunch
Euro Zone Crisis: ECB Expected to Cut Rates, EU Summit Waits in ...
The European Central Bank is widely expected to cut interest rates back to a record low of 1 percent from the current 1.25 percent on Thursday and provide longer-term loans to banks that are struggling to find funding.
CNBC Top News and Analysis
ECB Cuts Interest Rates Ahead of EU Summit (NYSEARCA:EWG ...
By info@wallstcheatsheet.com (Damien Hoffman)
The European Central Bank cut interest rates for a second straight month in a policy meeting today, and may take additional measures to stimulate bank lending and fight off a recession.
Wall St. Cheat Sheet
Europe on edge ahead of crucial EU summit
By nineoclock
Germany and France are pushing for new EU treaties, saying stricter fiscal rules should be enshrined there. Meanwhile, just ahead of the summit, the European Central Bank cut interest rates back to their historic low of 1 per cent, as expected...
Nine O`Clock
Germany pours cold water on EU summit hopes | Investing ...
Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the eurozone's debt crisis at a summit this week.
FP Top Stories List
XE.com - Q+A-How will markets react to crucial EU summit?
European Union leaders are under pressure to agree on moves towards closer fiscal union to rein in the euro zone debt crisis, not least because it will determine the fate of financial markets.
XE Forex News
President Obama Speaks on US-EU Summit with Herman Van ...
We have had several occasions to meet over the last year, but this is the first formal U.S.-EU summit that we've had an opportunity to have since the Lisbon ...
www.whitehouse.gov/.../president-obama-speaks-us-eu-summi...
E.U. summit on debt crisis faces uncertain prospects - The ...
European leaders meet Thursday and Friday in Brussels to address the debt crisis, but prospects for a deal remain uncertain.
www.washingtonpost.com/.../gIQAzuAQcO_story.html
Euro Weakens on Rating Concern Before ECB Meeting, EU Summit ...
The euro fell the most in two weeks against the yen on concern nations such as Germany and France will lose their AAA credit ratings if European leaders fail to...
www.bloomberg.com/.../euro-maintains-advance-before-euro...
EU summit signals crunch time for Cameron amid Eurosceptic ...
PM heads for crucial meeting in Brussels amid EU anger at UK tactics and Tory rightwing clamour for referendum.
www.guardian.co.uk/politics/.../eu-summit-crunch-cameron?...
Cameron fires warning shot ahead of EU summit | Business ...
British Prime Minister David Cameron piled even more pressure on eurozone leaders Wednesday by threatening to block any revision of the EU treaty if the City...
www.dw-world.de/dw/article/0,,15584643,00.html
Credit warning gives EU summit last chance on debt
EU leaders will discuss the proposals, which Merkel and Sarkozy want to be enshrined into a rewritten European Union treaty, at a two-day summit in Brussels ...
www.breitbart.com/article.php?id=CNG...2c1
PRECIOUS-Gold inches up as key EU summit nears | Reuters
SINGAPORE, Dec 5 (Reuters) - Gold prices edged higheron Monday, after posting their sharpest weekly rise in more thana month, as investors expect euro ...
www.reuters.com/.../markets-precious-idUSL3E7N501B20111...
Europe Stock Markets - FTSE, CAC, DAX Seen Flat; EU Summit in ...
European stocks were called to open flat on Monday ahead of a summit ofEuropean Union leaders on Friday and a crucial meeting in Paris between French...
www.cnbc.com/.../FTSE_CAC_DAX_Seen_Flat_EU_Summit_...
December 9 European Union Summit: Solution to the eurozone ...
The 27 countries of the EU will hold a summit on December 9 in what has been called the last chance to solve the eurozone financial crisis. However, in politics ...
economictimes.indiatimes.com/.../11014857.cms
Battle to Save the Euro: Summit Seen Backing 'Merkozy' Plan - But ...
Last-minute discussions are underway ahead of the EU summit on Thursday and Friday that could decide the fate of the single currency. A French-German plan ...
www.spiegel.de/international/europe/0,1518,802221,00.html
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