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

Thursday, July 28, 2011

France May Need Extra Measures To Hit Deficit Targets-IMF

France May Need Extra Measures To Hit Deficit Targets-IMF
Wall Street Journal
The IMF also warned of external risks to the French economy from the euro area crisis. "France cannot risk missing its medium-term fiscal targets given the need to strengthen implementation of the [euro zone's] Stability and Growth Pact and keep ...
Asian investors wrestle with US crisis risk
Financial Times
But what if the US has a debt crisis or a probable Greek default adds to Europe's woes? Is Asia more or less vulnerable to contagion than in 2008, when the global financial crisis swept across western economies? “Certainly we're not priced for a ...
Italy assets close sharply lower on contagion fears
Reuters
By Ian Simpson MILAN, July 27 (Reuters) - Italian assets fell strongly on Wednesday on renewed fears of euro crisis contagion, with shares in leading banks down more than 4 percent and benchmark bond yields sharply higher. Milan's bank-heavy FTSE MIB ...
US debt, euro zone crisis hit European shares
Reuters
Fears of contagion in the euro zone debt crisis also hit share prices. Banks were the worst performers, with the STOXX Europe 600 Banks index down 2.2 percent. The index has lost 5 percent in the past three-days. Although most think the United States ..
INTERVIEW-Ivory Coast debt default is "consolidation" move - IMF
Reuters Africa
By Tim Cocks ABIDJAN, July 27 (Reuters) - Ivory Coast's decision not to repay defaulted debt until at least next year is aimed at marshalling all its resources for economic recovery, the IMF country director said on Wednesday, suggesting that markets ...
Pakistani rupee hits record low of 86.58 due to oil payments
Reuters
Dealers said dollar payments are typically higher in July and August because of stronger oil demand and debt payments. As well as oil payments, the International Monetary Fund's stalled aid programme to Pakistan is also weighing on the rupee. The IMF ...
EURONOMICS: EU Summit Losing Its Soothing Effect
Wall Street Journal
LONDON (Dow Jones)--Sober warnings that the European debt crisis didn't end with last week's summit of European Union leaders reignited concerns of contagion risks Wednesday, boosting borrowing costs for high-debt governments and pressuring the euro. ...
IFR-COMMENT: Next leg of the peripheral contagion trade
Reuters
By Divyang Shah by Divyang Shah LONDON, July 27 (IFR) - Once again Italy and Spain are leading the bailout trio when it comes to spread widening. This has been a noticeable feature of the price action since the EU summit last week. ...
Sarkozy Should Ready Additional Spending Cuts, IMF Says
Bloomberg
The IMF predicts growth of 2.1 percent and 1.9 percent. “While the economic outlook is favorable, risks are tilted to the downside amid the sovereign-debt crisis in the euro area and uncertainty about energy and commodity prices,” the IMF said. ...
EURO GOVT-Bunds rally on US, euro zone debt worries
Reuters
By Kirsten Donovan LONDON , July 27 (Reuters) - German government bonds rose on Wednesday, supported by doubts over whether measures to stem the euro zone debt crisis were enough to stopcontagion to the region's larger economies and by deadlock in ...
IMF chief issues warning as clock ticks on US debt crisis
Irish Times
REPUBLICANS AND Democrats continued to bicker yesterday, with the US less than a week away from a partial default on its $14.3 trillion debt. Economists and the head of the IMF warned of dire consequences if the dispute is not resolved by August 2nd. ...
US debt crisis poses 'contagion threat' to eurozone
Deutsche Welle
Bildunterschrift: Gro├čansicht des Bildes mit der Bildunterschrift: IMF chief Christine Lagarde has also warned of the threat a US default poses in EuropeI think there are major differences. What we are seeing in the US is pretty much an entirely a ...
Europe Loan Growth Slowed in June as Crisis Weighed on Economy
Bloomberg
By Jana Randow - Wed Jul 27 08:06:25 GMT 2011 Growth in loans to households and companies in the 17-nation euro area slowed in June as the region's fiscal crisis weighed on economic expansion and damped demand for credit. Loans to the private sector ...
The future of Greece remains uncertain
UPI.com
The IMF may need to engage in serious discussion on its resources as more countries face crises, Lagarde said. On top of the $159.5 billion granted to Greece in May 2010, EU leaders agreed to provide another $158.1 billion of 15- to 30-year loans at a ...
The public appearance of the president : another proof that we don't have a ...
ACTmedia
The majority of economists who took part – directly or indirectly – to the negotiations with IMF and EU condemn the gesture of President Basescu, accusing the government they want to turn on the taps of electoral expenditure at an inappropriate moment. ...
Debt Ceiling Drama Contagion Search
Seeking Alpha
Throughout the political back and forth we have heard that a US default and subsequent credit rating downgrade would raise the cost of borrowing to businesses and consumers. Sure is a logical hypothesis at the basic level as a greater risk premium will ...
EU, IMF inspectors in Greece to evaluate debt progress
Monsters and Critics.com
The new bailout comes in addition to the 110-billion-euro bailout that Athens secured from eurozone partners and the IMF last year. Eurozone ministers decided that private investors will swap Greek bonds for longer maturities at lower interest rates. ...
The world we used to know is no more and is still changing
Sydney Morning Herald
It was an example of how in today's world what started as a subprime mortgage crisis in the south of America literally swept the world and precipitated that global financial crisis. But if you look at the euro zone today, and the difficulties that it ...
Italian, Spanish Bonds Slump on Concern European Aid May Not Be Sufficient
Bloomberg
Photographer: Michele Tantussi/Bloomberg Italian and Spanish government bonds declined, increasing the yield relative to benchmark German bunds, on speculation Europe's aid package may not be sufficient to prevent contagion. ...
Now This Is Happening: Another Financial-Crisis Movie
Wall Street Journal (blog)
By Mark Gongloff Because America didn't quite get its fill of rich white dudes talking in HBO's Too Big to Fail, along comes Margin Call, which appears to be another platter of ominous lighting, clenched dialogue and crushing boredom. ...
Noonan rules out bankers' pay rise above €500k cap
Irish Independent
Mr Noonan also said Ireland was set for another cut in the cost of the government bailout when theIMF dropped the interest it was charging for rescue loans. The minister was speaking at the Oireachtas finance committee, which was held in the Dail ...
City looking at more cuts as financial crisis deepens
Helena Daily World
City Treasurer Patrick Roberson and City Clerk Sandi Ramsey go over the current financial stresses that will stretch into the month of August. By MELISSA MARTINEZ Things got somewhat intense at Tuesday night's Helena-West Helena City Council session as ...
Washington Follows Path to Credibility Downgrade: Neil Barofsky
Bloomberg
For example, the Federal Reserve's repeated predictions that severe damage would result if it were forced to disclose the identities of its counterparties during the financial crisis were wrong, as were Treasury's warnings that my former office, ...
What's News
Wall Street Journal
A court hearing in the sexual-assault case against former IMF chief Dominique Strauss-Kahn has been delayed for more than three weeks as prosecutors in New York continue their investigation. This copy is for your personal, non-commercial use only. ...
Whether the 40 Year Pattern of Lower Gold Prices in August Will Hold True
Seeking Alpha
The euro has all of the PIIGS deciding who stinks more. Greece leads the way with this smelly bunch, and they, along with Spain, Portugal, Italy and Ireland can only be supported so long by theIMF, France, Germany and private investors and possibly, ...
Rater: US will avoid default, but needs to address debt
The Hill (blog)
The hearing was a bit schizophrenic in nature, as lawmakers spent roughly the as much time chiding the raters for their failings leading up to the financial crisis, as they did talking about a potential downgrade from those raters. ...
FOREX-US dollar recovers some ground after selloff
Reuters
Gains in the dollar were also helped by the euro's losses. The euro came off a three-week high on concerns a new Greek bailout plan agreed last week may not be sufficient to prevent contagion from the debt crisis. The euro was down 1.1 percent at ...
GLOBAL MARKETS-Stocks fall on US debt standoff; dollar rallies
Reuters
European shares have been hit by persistent fears of contagion in the euro zone debt crisis. Japan's Nikkei .N225 closed down half a percent. Even if a plan avoids a US default, if it flinches from hefty deficit cuts, this could result in a downgrade ...
Emerging-Market Currencies Face Intervention; Debt Little Changed
Wall Street Journal
The forint fell as the Swiss franc strengthened to new highs against the dollar. Before the 2008financial crisis a big chunk of Hungarian mortgages were denominated in Swiss franc, and a rise in the franc is a negative financial sector in the country. ...
Brazil's Finance Minister on US Debt: 'Not Finding a Solution Is Madness'
Brazzil Magazine
Mantega warned that the financial crisis is not over, it just changed its address, moving out of the private sector into the public sector with a negative impact on country debt. "This is not a simple situation and it will linger for years, ...
Welcome to the Biggest Junk Bond Sale Since the Financial Crisis
Wall Street Journal (blog)
By Matt Wirz and Shira Ovide Hospital operator HCA today clinched a $5 billion bond deal, in the biggest junk-bond sale since the financial crisis, according to people familiar with the deal. The previous record was Chrysler's $3.5 $3.2 billion bond ..
A Port in the Debt Storm
Resource Investor
The current “debates” over the debt ceiling in the US and bailouts for the PIIGS in Europe are just noise. In the coming storm of debt destruction, wealth will continue to seek safe harbor in the form of gold. Paul Carter is a former process engineer ...
Greece Downgraded Again by S&P, Default Looming
GoldAlert
... euro zone officials expected the ratings agencies to determine that their latest proposal constituted a “selective” Greek default. However, by agreeing to additional measures in the hopes of preventing the contagion from spreading beyond Greece, ..
Yuan revaluation will solve nothing, says Yongding
Business Standard
And, of far more worry is the US and European fiscal crisis, said a respected Chinese economist here on Wednesday. China should not be pushed by other nations to revalue its currency, said Yu Yongding, senior economist and former member of the monetary ...
Euro Short Taken Above 1.4500; Last Chance for Lower Top
Forex News Now
Elsewhere, in its latest review of the US economy, the IMF staff said it was looking for a continued modest recovery but also cautioned downside risks which included; weak housing, and uncertainty over the debt ceiling. On the topic of monetary policy, ...
A crisis cloud with no silver lining in sight
Albany Times Union
The US dollar, long the world's reserve currency and a safe haven in times of financial crisis, also will be weakened, she believes. Indeed, it hit a record low Tuesday against the Swiss franc and tumbled against the Japanese yen, both also considered ...
Video: Shiller & Siegel on How to Clean Up the Debt Mess
Wall Street Journal (blog)
With a potential default less than one week away, Jeremy Siegel of the Wharton School and Robert Shiller of Yale debate the possibility of a US financial crisis and what can be done to avert it. Read more about the debate on MarketBeat. ...
Provopoulos Says ECB Interest Rates are Appropriate for Now
Bloomberg
“The decisions announced last week will make a significant contribution to stopping contagion. I am not saying that market volatility will be eliminated immediately since markets tend to overshoot from time to time. “Nevertheless, I think that last ..
The US Debt Ceiling: The How, Why and What Could Happen?
Huffington Post
In its extreme, uncertainty could spark another financial crisis as well as put the dollar's status as the world reserve currency at risk. (Interestingly, a McKinsey investigation reported less than 20% of business executives expect its dominance to ...

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