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

Monday, August 8, 2011

Economy can weather crisis: IMF

Economy can weather crisis: IMF
The Australian
However, the Australian dollar could gain on its current level of $US1.0458 if investors begin to buy AAA-rated Australian bonds. Early yesterday, the IMF released a its preliminary annual assessment of the state of the economy, forecasting Australia ...
ECB Officials Weigh Massive Purchases of Italian, Spanish Bonds
Wall Street Journal
Despite ECB purchases of their bonds, Greece, Ireland and Portugal all have junk-bond ratings, in addition to being in EU-IMF rescue bailouts. Greece is on the cusp of default, despite the ECB's help.
Greece confident on EU-IMF funds: finance minister
AFP
So far, Greece has received five tranches of EU and International Monetary Fund aid worth 65 billion euros ($93 billion) from a 110-billion-euro debt rescue accord agreed in May 2010 to save Athens from default. EU, IMF and European Central Bank ...
PIIGS Default: Once Burned, Twice Shy?
Seeking Alpha
As best I can tell, what most concerns the market is that should a PIIGS default occur, it could be contagious; for example, a Greek default might lead to an Italian default. And should both occur, then there are a dozen or so large European banks with ...
Is world economy nearing another Lehman moment?
Livemint
The massive increases in their budget deficits and public debt have brought the Western economies to the brink of a fiscal crisis. The value of the stock of outstanding government debt in most developed economies is now close to or more than the value ...
Global financial crisis: five key stages 2007-2011
The Guardian
At worst, the global economy will be plunged back into recession next year as the US goes backwards and the euro comes apart at the seams. The second, gloomier scenario, looks a lot more likely now than it did a week ago. Why? ...
EDITORIAL - Still not clear enough, Mr Shaw
Jamaica Gleaner
IF HE thinks about it, Finance Minister Audley Shaw will concede that his latest published remarks about Jamaica's relationship with the International Monetary Fund (IMF) hardly clarified the status of the country's existing agreement with the Fund. ...
'Global economic scenario will affect export'
Express Buzz
The survey respondents feel that the Euro area should register a growth of about 1.9 percent in the current year. This projected growth rate for the Euro area is slightly higher than the IMF projection that pegs growth there at 1.6 percent in 2011. ...
Financial crisis: Bank of England 'to warn of slower UK growth'
Telegraph.co.uk
China called for a new global "reserve currency" to replace the dollar – a move branded "sensible" by Vince Cable, the Business Secretary, in a television interview, although he said this would not happen "overnight". Government sources said there was ...
The big questions about the global financial crisis - Q&A
Telegraph.co.uk
But in reality the chances of default are still so slim that economists think it is unlikely to have an immediate effect on US borrowing costs. It is however a powerful symbol of its faltering power as the world's leading economy - and could be ...
Europe has 'thrown away' recovery: Brown
AFP
"And now no number of weekend phonecalls can solve what is a financial, macroeconomic and fiscal crisis rolled into one, which needs a radical restructuring of both Europe's banks and the euro, and will almost certainly require intervention by the G2O ...
Financial crisis: Where do we go from here?
Telegraph.co.uk
It seems unlikely to me that all countries can remain members of the euro who are currently members. But I do not suppose that is a message that European governments want to hear from us. People clearly have not learned the lessons from the financial ...
Coming Week's Market Movers: U.S. Credit Downgrade vs. Accelerating EU Contagion
Seeking Alpha
See here for more on who gets hurt from an Italian default. Meanwhile, there were reports on Friday that EU leaders are meeting this weekend to discuss measures to keep the EU together and stabilize the rising bond yields of Spain and Italy. ...
Five False Premises about Economic Recovery
Wall Street Journal (blog)
For a year or so following the financial crisis, the recovery strategy in most countries was based on a renewed belief in activist government—stimulus packages, bailout of key industrial and financial firms and even talk of (and some action on) ...
Wide gap in skills leaves many unemployed, many open jobs
The Seattle Times
An International Monetary Fund (IMF) study estimated that between 2007 and 2010, the skill level of Washington's work force (measured mainly by years of education) got more out of whack with the available jobs than in any other state except Delaware. ...
Global economic Armageddon is nigh – so let's tax the rich
Herald Scotland
LAST Friday morning Google offered me one of its irresistibly targeted ads when I punched “financial crisis” into the search box. “The year 2008 marked the last of God's warnings to mankind,” announced the blurb for a book called God's Final Witness, ...
Financial crisis: should investors go east to escape a failing west?
Telegraph.co.uk
As developed countries fall more deeply into crisis, is it time to switch to Asia? By Emma Wall As stock markets in the developed world tumbled last week, employees of one of the world's biggest banks were left with little doubt about where their ...
Markets brace for possible further turmoil
BusinessLIVE
Global markets are bracing themselves for possible further turmoil this week after what has been described as the worst week since the 2008 international financial crisis. Governments representing the world's top financial powers held emergency ...
Column : The perverse politics of financial crisis
Financial Express
But if many people start to doubt Italy's solvency and require a large premium to lend, the country's fiscal deficit will worsen, and it will most likely default. Whether a borrower like Italy ends up in the lap of good expectations or tumbles into a ...
Fears rise that financial reform is harming US business
Financial Times
US fund management firms have not escaped the impact, partly because hedge funds were – rightly or wrongly – seen as one of the causes of the financial crisis, and partly because investment firms are being caught by regulation that was not necessarily ...
No double-dip recession but Europe a worry: Greenspan
Reuters
Alan Greenspan, former chairman of the Federal Reserve, testifies before the Financial Crisis Inquiry Commission hearing on Capitol Hill in Washington in this file image from April 7, 2010. WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan ...
Euro crisis spreads market panic
Green Left Weekly
The “troika” ― EU, ECB, and IMF ― tried to provide a sufficiently large bailout fund to cover the worst-affected economies. It is probable, but not guaranteed, that enough funds could be found to cope with a default or threatened default in Greece, ...
Suckered: City firms may face bonds hit
This is Money
Meanwhile in Washington, the IMF was on high alert this weekend as officials stood ready to provide emergency help to Italy or Spain. The 'mission teams' for both countries, whose job it is regularly to assess their economies, have been in constant ...
U.S. Credit Downgrade Means the World Lost Its Proxy for a Risk Free Asset
Seeking Alpha
The primary cause of a nation spending beyond its means are and have always been wars; this is only followed by a financial crisis of some sort, with natural disasters bringing up the rear. One of the reasons this is such an important event is because ...

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