PIMCO's Bill Gross: Stay Out Of Euro-US-China Menage A Trois
In other words, instability is so high in Europe that the possibility of one or more of the distressed PIIGS exiting the Eurozone is very real. Other highly destabilizing scenarios, like a Greek default, are also on the table, ...
Berlusconi Accepts Allies' Demands to Overhaul $66 Billion Austerity Plan
The ECB has restrained Italy's borrowing costs in the past three weeks by buying its bonds in the secondary market after contagion from the sovereign-debt crisis sent yields to a euro- era record 6.40 percent on Aug. 5. “The deterioration in Italy's ...
Swiss Re: Nordic Insurers Stood Up Well Through Financial Crisis
Insurance News Net (press release)
Insurers in the Nordic countries fared better than others during the financial crisis of the past three years, but they, like insurers throughout the rest of Europe , will need to deal with tougher market conditions than before the crisis, according to ...
ECB Trichet: Euro Is A Strong Currency, Has Kept Value
Wall Street Journal
The euro zone is facing credibility problems because of the problems of some of its member states and not because of a euro-zone-wide issue, Trichet said. European governments "are trying to cope with a situation," which is the gravest financial crisis ...
ANEK: Losses Downsized In 1st Half 2011
Capital.gr (press release)
... versus euro 111.8 mil in the corresponding period last year, while EBITDA amounted to losses ofeuro 3.3 mil versus losses of euro 13.8 mil. According to an announcement, the passenger ferry industry was dearly affected by the financial crisis, ...
Crisis-ridden Belarus to allow free float of its currency in mid-September
Belarus is mired in its worst financial crisis since the fall of the Soviet Union. The government devalued the ruble by some 50 percent this year, causing panic buying of staples and huge lines at foreign exchange offices. Foreign currency has been ...
Analysis: Pockets of debt illiquidity show rising bank fears
Banks have also much higher capital levels since the financial crisis. That said, some traders worry things could worsen. The corporate bond market, for example, has seen spotty liquidity, traders said. Bank of America's (BAC.N) credit default swaps ...
Amateur Hour Cancelled
Cayman News Service
Questions had been raised in the press by some institutional investors about the performance of some independent directors during the recent financial crisis and now many of these questions have been decisively answered by the Grand Court of the Cayman ...
Greece: Bond exchange hits leading lender NBG with €1.31bn losses
Greece is grappling with a major financial crisis, avoiding bankruptcy by receiving two successive international bailout loan agreements worth a total €219 billion ($315.4 billion). Voluntary private sector involvement was agreed as part of the second ...
The world needs a strong, united Europe
By Joschka Fischer, Project Syndicate BERLIN – Slowly, word is getting round – even in Germany – that the financial crisis could destroy the European unification project in its entirety, because it demonstrates, quite relentlessly, the weaknesses of ...
Poland May Join Euro Zone Before 2020, Says Central Banker
Wall Street Journal
Poland agreed to adopt the euro before it joined the European Union in 2004. It doesn't have a formal euro adoption target after dropping 2012 amid the financial crisis following the collapse of Lehman Brothers in 2008. ...
Consumer confidence plunges, but Americans might still spend
... month when the economy shed 539000 jobs amid recession and financial crisis. Blame for the steep drop fell on Congress and Washington's political brinksmanship over the debt ceiling, which took the nation to the verge of a first-ever debt default. ...
Wednesday, August 31, 2011
Stay Out Of Euro-US-China Menage A Trois
Labels: financial crisis