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

Tuesday, August 30, 2011

Euro Banks Stocking Up On Dollars To Avoid Liquidity Squeeze


Euro Banks Stocking Up On Dollars To Avoid Liquidity Squeeze
Forbes
Among the many lessons from the global financial crisis, European banks have learned not to rely solely on short-term funding markets amid widespread volatility. Back in 2008, US money markets froze, causing a global liquidity squeeze that in part ...
Hurricane Irene and the Financial Crisis
Reason Online (blog)
In both the financial crisis and Irene, the government actions taken were exceptional and involved depriving people of private property without the due process required under the Fifth Amendment. In the financial crisis, Bush and Paulson seized Fannie ...
Europe's Big Mistake
New Yorker
This year, Europe has been wrestling with high unemployment, slow growth, and a continuing debt crisis, with the economies of Portugal, Ireland, Italy, Greece, and Spain (the so-called PIIGS) struggling to avoid default...
Euro Vision
Newsweek
Mayhem in the euro zone is a major contributor to the international financial crisis. The immediate cause may be reckless policies pursued by governments and banks, but the institutional structure of the European Monetary Union is the stubborn root of ...
Hungary Sees Decade of Euro Zone Turmoil
Wall Street Journal (blog)
Hungary must be able to keep afloat amid the prolonged euro zone debt crisis which is evolving into a deepening financial crisis, he added. In doing so, the country must fight to maintain its economic sovereignty by being able to finance itself ...
Iceland Helping Freeze Up Euro Zone
Seeking Alpha
This marked the first rate hike by the island nation since the outbreak of the financial crisis. But unlike the eurozone, which recently raised rates in the face of crisis, the rate hike decision in Iceland was made in the backdrop of a genuinely ...
The Student Financial Crisis
Daily Beast
Our college kids can be dunces about money. Here's what they need to know about budgeting, credit cards, and splurging on Starbucks. Right now, some 2.1 million students are packing off to college. By the time they graduate, they'll be well versed in...
Czechs Stay Wary of Euro Zone
Wall Street Journal
Last week, Czech President Vaclav Klaus, speaking at an economic and political forum in Austria, dismissed Czech participation in the euro zone as "not an issue," blamed the euro for the financial crisis now roiling Europe. Mr. Klaus said the euro-zone ...
Polish finance minister says Europe at risk of "collapse"
EUobserver.com
... as Germany mishandle the financial crisis. Speaking in Polish daily Gazeta Wyborcza on Monday (29 August), the minister said: "European elites, including German elites, must decide if they want the euro to survive - even at a high price - or not. ...
EU rules out fresh capitalisation for Europe's banks
Telegraph.co.uk
Photo: AP By Roland Gribben The officials poured cold water on calls from Christine Lagarde, head of the International Monetary Fund for "mandatory" recapitalisation to avoid another financial crisis but acknowledged that the EU economy was continuing...
Bound by chains of EU contagion
Business Spectator
Investors are worried that if Greece's funding package is delayed, Greece could default on its loan repayments. Growing anti-bailout sentiment in northern eurozone countries is also roiling markets. In coming weeks, European parliaments need to approve ...
Forex: Euro Consolidation Ahead, Sterling Advance To Accelerate
DailyFX
By David Song, Currency Analyst Over the weekend, International Monetary Fund Managing Director Christine Lagarde said recapitalizing the banking system in Europe 'is key to cutting the chains ofcontagion, and went onto say that monetary policy should ...
German Bundestag rallies against euro bailout fund
EurActiv
A financial transaction tax is needed to repair the damage of the financial crisis, which has cost millions in jobs, and the money should be used to invest in low-carbon growth and employment, said Bernadette Ségol, the newly-appointed ...
Representatives of Greece's bailout creditors in Athens for new talks on ...
Washington Post
Greece is in the throes of a major financial crisis, and is being kept solvent by two successive international bailouts worth a total €219 billion ($315.4 billion). In return, the Socialist government took harsh austerity measures, whose progress is ...
 How France & the French Model Might Be More Relevant Than ...
Huffington Post (blog)
The decision made by many global companies to establish their European headquarters in Ireland or Britain has come back to haunt them as Ireland was brought to its knees by the financial crisis and Britain watched any remaining industry vanish. ...
FOREX-Dollar rises vs yen and franc on US economic data
Reuters
[ID:nLDE77Q03M] "With reports of possible bank mergers in Greece and ongoing rhetoric from European leaders attempting to talk down speculation of further contagion, concerns regarding the sovereign debt crisis have eased in the interim with traders ...
Should Older Workers Step Aside?
Huffington Post (blog)
This world came to an abrupt end with the financial crisis in 2008, as the monthly unemployment rate spiked. It has since remained stubbornly high, and many of the jobs lost in the Great Recession have not come back. In response, some have suggested ...
Volvo, Scania Brace For New Downturn
Wall Street Journal
The financial crisis of 2008 resulted in a rapidly worsening situation in the Swedish labor market, with unemployment rising to 9% from 6% as manufacturers were forced to cut staff. Volvo, which laid off one-fifth of its work force, or 18000 workers, ...
How to Know When the Stock Market's Hit Bottom
TIME
Fears are growing that a default by one of the countries that uses the Euro currency could cause a European banking crisis that would go global and lead to large losses at US banks as well. Thefinancial crisis that would follow – even if not as ...
Europe: Not That Bad Actually
Moneyshow.com
With a government debt-to-GDP ratio of 119% at the end of 2010, the country faces the second-largest debt burden of the fiscally weak PIIGS (Portugal, Italy, Ireland, Greece, and Spain). To worsen matters, Italy is the EU's third-largest economy, ...
US Elites Begin To Confront The Paper Dollar
Forbes
[The financial crisis's] very occurrence seemingly validated the arguments of those like [Rep. Ron] Paul who had long insisted that the economic superstructure was, as a result of government interference and fiat money, inherently unstable. ...
Hottest ETFs of the Week: Irene Aftermath
Wall Street Pit
By Everyday Finance Aug 29, 2011, 6:52 AM Author's Website It's been a tumultuous few weeks with everything from continued drama in the Middle East to further contagion in the Euro zone and capping it off with Hurricane Irene. ...
The perilous urge to merge
Sydney Morning Herald
By staying away from shoddy mortgage lending, derivatives trading and investments in mortgage-backed securities, it is the rare large financial institution that never reported an unprofitable year through the financial crisis...

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