"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Friday, July 22, 2011

Europe's Contagion Effect--Prepare for a Global Economic Collapse


Europe's Contagion Effect: Prepare for a Global Economic Collapse
The National Interest Online
If Greece, Ireland, and Portugal do not restructure their debt in an orderly fashion they will ultimately have to default unilaterally. In fact, the longer EU leaders put off negotiating a coordinated restructuring, the more likely a disorderly default ...

Pimco Sees Rising Euro-Contagion Risk for Poland on 'Policy Complacency'
Bloomberg
By Katya Andrusz - Thu Jul 21 16:34:52 GMT 2011 Poland's risk of contagion from the euro-area debt crisis is rising because the country isn't doing enough to cut its budget gap, said Michael Gomez, an emerging- markets fund manager at Pacific ...
IMF Warns Euro-Zone Crisis Risks Global Spillover
Wall Street Journal
In its annual assessment of the euro area released Tuesday, the IMF said the latest debt woes in Greece and other nations are "casting a shadow" over the euro zone's future while European officials struggle to formulate a decisive response. ...
Gordhan Says South Africa Facing Contagion Risk From European Debt Crisis
Bloomberg
The rand has dropped 1.3 percent against the dollar this month, while bond yields jumped in June as concern spread that Italy and Spain may be engulfed by the debt crisis. A default in Italy, which has the biggest sovereign debt market in the euro zone ...
IMF urges China to strengthen yuan
CNN
Over the past year, the currency has appreciated 5.5% against the weakening US dollar. Once economists take China's rapid inflation into account though, the yuan has actually depreciated, theIMF said. A stronger yuan that floats more freely against ...
Is another financial crisis around the corner?
Stuff.co.nz
In an upside-down world where credit rating agencies put the horribly indebted US Government on notice for a ratings downgrade because it's threatened not to keep borrowing, and a debt default by Greece would be welcomed, it's hard to keep a handle on ...
Weekly Outlook - US Downgrade Threats and Italy Debt Contagion
IBTimes
The Dollar finished mixed in a heavy news week with lots of intraday volatility. Negative watch from Moody's and S&P on the US AAA Rating left traders unsure what to do in risk off trade with the clear winner the alternative safe havens of Gold, ...
Fitch: US Default Remote; Warns On Greek Contagion
IMarketnews.com
LONDON (MNI) - Credit rating agency Fitch, in a report published Wednesday, said it considered the risks of a US default remote and highlighted the need for a resolution to the Greek crisis to avoid EUcontagion. The rating agency said while credit has ...
German, French talks focused on contagion, ECB -Dutch FinMin
Reuters
THE HAGUE, July 21 (Reuters) - Talks between Germany and France about Greece's debt problems focused on how to involve the private sector without endangering bigger economies and the European Central Bank, Dutch Finance Minister Jan Kees de Jager said ...
EU Said to Consider Greek Bond Guarantee
Bloomberg
By James G. Neuger - Thu Jul 21 11:23:41 GMT 2011 ECB President Jean-Claude Trichet has been at loggerheads with EU leaders about allowing Greece to default, an event he says would risk sparking a new global financial crisis. ECB President Jean-Claude ...
20 Banks That Are Praying For The European Bailout To Work
Business Insider
Banks have the most to lose if the PIIGS (Greece, Italy, etc.) go belly up. Despite reassurances from EU leaders that they would step in to ensure the viability of banks and even Greek bonds -- and the surging Euro markets -- it is quite possible that ...
Moorad Choudhry on Contagion: Time to Get Real
CNBC.com
Your columnist had a Eureka moment this week, while contemplating euro zone worries andcontagion (a completely different topic next week, I promise!). The revelation is this: investors have got to stop looking for a free lunch, however implicitly, ...
Jeff Madrick on Southern Californians and the financial crisis
Los Angeles Times (blog)
The growing bookshelf of volumes on the financial crisis have tended to focus on the last decade and the various elements that gave rise to the subprime mortgage meltdown. Jeff Madrick, a former economics columnist for the New York Times, ...
Translia Issues Translation Tips for New IMF Chief
Benzinga
Translia's translation solutions are helpful for IMF's first female chief, Christine Lagarde, a speaker of French and English, to better convey her message to everybody who is involved. Translia, the world's leading online translation service, ...
The United States: BRIC-Solid or Rolling in the Muck with the PIIGS?
Energy Tribune
By Marita Noon PIIGS are those falling apart. Currently, The United States is not in either group. Gratefully we are not in the pits with Portugal, Ireland, Italy, Greece, and Spain. We should be with Brazil, Russia, India, and China who, ...
Irish fin min says summit to boost Ireland's position
Reuters
It also hopes that the average 7-1/2 year maturity of its EU-IMF loans will be lengthened as part of an overall deal to solve the Greek and wider euro-zone debt crisis. Noonan said he has been pushing European leaders to agree to guarantee Irish ...
China PMI in Contraction; IMF Wants Further China Tightening to Combat Inflation
HoweStreet.com
In its annual review of China's economy, the IMF directors “saw room for further tightening of monetary conditions” and suggested “greater reliance on interest rates and nominal exchange rate appreciation.” In addition to possible inflation risks from ...
Default Or No DefaultDollar Gets Little Respect
Wall Street Journal
To be sure, the dollar remains the world's premier reserve currency, as shown in 2008 when it rallied as traders sought shelter from a potential economic cataclysm during the financial crisis. But situations such as the current one--where traders are ...
Peso hits 8-month high, closes at 42.62 to $
Malaya
It earlier hit a high of 42.57 per dollar, the strongest since Nov. 5, 2010. Marcelo Ayes, Rizal Commercial Banking Corp. senior vice president, said in a phone interview that "the positive statement of the IMF brought positive news for the peso. ...
IMF Advised S. Sudan But Silent on Currency War, Only Monitoring Libya
Inner City Press
IMF spokesman David Hawley replied, “As you know, South Sudan has applied for membership with the Fund, announced April the 20. Concerning out involvement on currency issues. earlier this year the Fund provided technical advice on currency issue ...
Euro-Zone Manufacturing Growth Weakens
Bloomberg
The euro-area services indicator fell to 51.4 this month from 53.7 in June, Markit said in the initial estimate. The manufacturing gauge decreased to 50.4 from 52. While European leaders struggled to fight the fiscal crisis from spreading across the ...
No more flogging the debt horse
Sydney Morning Herald
National accounts show households, instead of spending more than they earn as they did before the crisis, now save about 10cents in every dollar they earn, and have been doing so since late 2008. The global financial crisis provided households with ...
IMF Chief To Meet With Greece Finance Minister In DC Monday
Capital.gr (press release)
Although IMF spokesman David Hawley said Athens hadn't yet requested new funding beyond an existing program, Greece needs more IMF cash to help fill its financing gap and avoid default and sparking a sovereign-debt fire sale across Europe. ...
Bargains In The PIIGS Pen?
Forbes
Indeed, if the world's central bankers let countries like Spain or Italy default, a scary market spiral will occur. But Macquarie Group analyst Steve Harris points out that Italy's banking system is generally well funded by deposits, ...
BUY OR SELL-Are worries about Intel overblown?
Reuters
[ID:nN1E76I25R] Some investors believe the company is still too optimistic and worry about high US unemployment, the risk of a European financial crisis and the threat from Apple's (AAPL.O) iPad. About 30 analysts tracked by Thomson Reuters Starmine ...
IMF to EU: You Need More Integration
theTrumpet.com
“What the market is worried about is Germany's long-term commitment to the euro project,” he continued. “If we see unreserved and absolute backing from the political establishment of Germany, that will be a soothing balm.” Société Générale's Suki Mann ...
Germany and the Financial Crisis - Atlas Sound Money Project
By Nicolas Cachanosky
The problem to be politically solved is who is going to bear the cost of the financial crisis. Government does not want to cut public spending, banks do not want the government to default and the citizens do not want to pay more taxes ...
Atlas Sound Money Project
Europe's Contagion Effect – Nuno Monteiro
By Nuno
If Greece, Ireland, and Portugal do not restructure their debt in an orderly fashion they will ultimately have to default unilaterally. In fact, the longer EU leaders put off negotiating a coordinated restructuring, the more likely a ...
Nuno Monteiro
Financial Crisis Denialists | The Big Picture
By Barry Ritholtz
There is yet another group of people who are engaged in a similar deception — they are the Financial Crisis Denialists. Whether it is willful agnotology or their own cognitive dissonance, they continue to ignore facts, are married to .... It seems cynical predictions with negative or untimable outcomes (Greek default, budget cuts that do not kick in until next year's budget, bailouts for bankers, fools driving around in busses with their face on the side will announce an ...
The Big Picture
Europe eyes sweeping new powers for rescue fund | The Raw Story
By Stephen C. Webster
BRUSSELS (Reuters) - Euro zone leaders were set to give their financial rescue fund sweeping new powers to prevent contagion and help Greece overcome its debt crisis, according to the draft conclusions of an emergency summit on Thursday ...
The Raw Story
New World Disorder: Why Geithner's IMF SDR Plan For A Global ...
By randyedye
They are all members of the CFR (Council on Foreign Relations) and are pushing for the devaluation of the US Dollar while Geithner is pushing for the creation of a One World Currency issued by the criminal IMF as the global central bank ...
Randy's Right
Chinese Currency Not An Issue: IMF | Via Meadia
By Walter Russell Mead
Chinese Currency Not An Issue: IMF. Politicians love to blame China's managed currency for US economic problems. They should all just shut up, says the IMF. A 20% increase in the renminbi rate against the dollar would have a negligible ...
Via Meadia
Financial Terrorism Analysis: How Global Bankers Plunder Nations ...
By sakerfa
Debt is the silk, the people are the fly, and the spider is the large financial institutions – from the banks to the IMF. The nature of debt is that one is never meant to be able to escape it. Hence, the “solution” for Greece's debt .... For a population whose wages are frozen (as a requirement of 'fiscal austerity'), their income (for those that have an income) does not adjust to the rate of inflation, hence, they make the same dollar amount even though the dollar is ...
Dprogram.net
Banks should contribute into solving EU financial crisis ...
By RT
EU leaders have gathered in Brussels for an emergency summit on how to come up with the cash promised for a second bailout to Greece. While leaders squabble, failing to agree on how to resolve the crisis, the euro's future hangs by a ...
News RSS : Today
IMF to EU: You Need More Integration | Economy | theTrumpet.com by ...
By theTrumpet.com
“What the market is worried about is Germany's long-term commitment to the euro project,” he continued. “If we see unreserved and absolute backing from the political establishment of Germany, that will be a soothing balm.” ...
theTrumpet.com: Front Page
Forex: Euro Rallies On Greek ’Marshall Plan,’ Sterling ...
By DailyFX
The Euro pared the overnight decline to 1.4139 and the single-currency may continue to gain ground throughout the North American trade as European policy makers ramp up their efforts to stem the risks for contagionEuro Group President ...
Business Insider
Euro falls in nervous market; choppy ahead of summit | MAARS News
By Valkyries
... down from a high of $1.4294 that was hit in early trade after officials said France and Germany had reached a common position on a second bailout of Greece in a bid to prevent contagion spreading through the euro zone. ...
MAARS News
Euro Financial Crisis: No End In Sight - Geopolitical Monitor
Market jitters over Italian insolvency are more than just another soft European economy being added to the ever-growing list of debt anchors pulling the ...
www.geopoliticalmonitor.com/the-euro-under-siege-4417
Euro Contagion: Italian Equities Tank, Yields And CDS Jump - Yahoo ...
Read 'Euro Contagion: Italian Equities Tank, Yields And CDS Jump' on Yahoo! News . Italian equity markets have come under intense pressure on Monday, ...
news.yahoo.com/euro-contagion-italian-equities-tank-yields-c...
Public Information Notice: IMF Executive Board Concludes Article ...
IMF Executive Board Concludes Article IV Consultation on Euro Area Policies ... of the IMF's views and analysis of economic developments and policies. ...
www.imf.org/external/np/sec/pn/2011/pn1191.htm
FTSE drops 1.7% as euro contagion fears spread | Reuters
Eurozone ministers last night said they 'stand ready to adopt' further measures to improve Europe's emergency bailout capacities, but markets across the ...
uk.reuters.com/article/2011/07/.../idUKPTIP50758820110712
Defaultcontagion concerns are overdone
Defaultcontagion concerns are overdone. 13/07/2011 ... The alternative, a disorderly default of Greece and likely contagion to other 'peripheral' eurozone ...
www.bnpparibas-ip.com/.../20110718_default-contagion_con...
IMF approves 3.2 bln euro loan tranche for Greece - AlertNet
In announcing the payment, part of a 110 billion euro IMF-European Union bailout package crafted for Greece last year, IMF Managing Director Christine ...
www.trust.org/.../imf-approves-32-bln-euro-loan-tranche-for-...
Euro Contagion: Italian Equities Tank, Yields And CDS Jump | View ...
View the photo Euro Contagion: Italian Equities Tank, Yields And CDS Jump on Yahoo! News. View the photo Euro Contagion: Italian Equities Tank, Yields And ...
news.yahoo.com/.../euro-contagion-italian-equities-tank-yields...
IMF approves 3.2 bn euro loan tranche for Greece - Economic Times
WASHINGTON: The International Monetary Fund's executive board on Friday said it approved a disbursement of about 3.2 billion euros to help Greece pay debts ...
articles.economictimes.indiatimes.com/.../29755768_1_manag...
The Free Press: Euro contagion infects Italy
The euro contagion triggered by Greeces sovereign- debt crisis has now infected Italy. Silvio Berlusconis government, together with a fiscally conscious ...
www.freepressjournal.in/.../10293-euro-contagion-infects-italy...
IMF approves 3.2B euro loan tranche for Greece - Interaksyon.com
The International Monetary Fund's executive board on Friday approved a disbursement of about 3.2 billion euros to help Greece pay debts due this month.
www.interaksyon.com/.../imf-approves-32b-euro-loan-tranche...

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