UK seeks concerted action on euro zone crisis Reuters LONDON (Reuters) - Britain called Friday for a "concerted international effort" to show tumbling markets that governments will act together if needed to avert financial crisis. Foreign Secretary William Hague said Britain was in touch with the United ... | ||||||||||||
Don't panic, we're free from stockmarket contagion The Australian ... while there are clearly sovereign debt worries in the eurozone that have now included Italy, "the EU is going to work very hard to avoid a default there". He notes it has scope to do so via the European Financial Stabilisation Fund, "a mini-IMF". .. | ||||||||||||
WORLD FOREX: Eerie Calm Descends Ahead of US Jobs Data Wall Street Journal Robinson said that the market is desperate for assurances that the global economy isn't heading toward recession and another financial crisis. At the European open, the gloomy tone was maintained as peripheral euro-zone bond yield spreads widened and ... | ||||||||||||
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CANADA FX DEBT-C$ rises after strong US jobs report Reuters Investors remain cautious, however, about contagion in Europe from the debt crisis, and Lavoie said the European anguish remains the biggest factor holding back the Canadian dollar. "The main risk for the Canadian dollar is the possibility of contagion ... | ||||||||||||
Italy's Intesa SP secures funding as crisis roils Reuters Yields on Italian government bonds have jumped to 14-year highs on fears that Italy, the euro zone's third-biggest economy, could be on the verge of a Greek-style financial crisis because of its huge debt, weak economic growth and political instability ... | ||||||||||||
Naming the Euro-Zone Debt Crisis Wall Street Journal (blog) By Frances Robinson “A rose by any other name would smell as sweet,” wrote Shakespeare; unfortunately for euro-zone policymakers, the government debt crisis smells anything but sweet ascontagion fears push yields on Spanish and Italian bonds to record ... | ||||||||||||
The financial crisis comes back to bite us People's Daily Online And, previously hidden jitters about spread of fiscal woes in Europe, from Greece, Ireland and Portugal to Spain and Italy, has never abated, and it is increasingly likely that bigger euro-zone countries will ask for bailouts, if they do not default on ... | ||||||||||||
GLOBAL MARKETS-World stocks slide for eighth day Reuters It lost 1.9 percent in the last session. The Reuters-Jefferies CRB index .CRB, a global commodities benchmark, fell to a seven-month low on Friday as raw materials markets saw one of their biggest sell-offs since the financial crisis on global economic ... | ||||||||||||
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IMF: Transaction tax easier to implement GFS News The IMF suggests that exchanges and clearing houses could be harnessed for collecting the tax, and that, if agreed, governments could implement the financial transaction tax in just 18 months. "In principle, an FTT is no more difficult and, ... | ||||||||||||
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Canadian dollar weakened against the greenback FXstreet.com Italian bonds slumped, sending 10- year yields toward a euro-era record, as European Central Bank debt purchases failed to reassure investors that officials in the region have found a solution to thefiscal crisis. Currencies: Canadian dollar weakened ... | ||||||||||||
Crisis crashes holidays – leaders in urgent talks EurActiv Only the ECB can halt euro zone contagion, argues Paul De Grauwe, writing for the Financial Times. He compares bond markets with banking systems, in which the instability of one bank is usually solved by mandating the central bank to be a lender and to ... | ||||||||||||
Pakistan will have to repay $8 bn to IMF in four years PakTribune.com SDRs are allocated to member countries in proportion to their IMF quotas. The SDR also serves as the unit of account of the IMF and some other international organisations. One US dollar is equivalent to 1.6 SDR. Islamabad will have to repay 258 million ... | ||||||||||||
Worst rout since GFC Sydney Morning Herald Update A sea of red on financial markets wiped about $55 billion off the sharemarket on the worst day in more than two years as fears of another global financial crisis spooked investors. The Australian dollar lost its haven status, heading for its ... | ||||||||||||
Portugal's New Austerity Fails to Bring Down Borrowing Costs: Euro Credit Bloomberg “We will have to be very diligent in meeting the agreement that was signed with the EU and the IMF. But we will also have to surprise.” Two weeks later, the prime minister announced that he was planning a one-time income-tax surcharge this year equal ... | ||||||||||||
Greek parliament ratifies reform bill promised for second bailout People's Daily Online The Greek parliament ratified on Thursday evening a reform bill to ensure a smooth disbursement of the second multi-billion euro aid package by the European Union and the International Monetary Fund (IMF). As fears of contagion threaten Italy and Spain ... | ||||||||||||
CEBR is optimistic on Ireland and Spain, but not on the Euro ShareCast “Fingers crossed but there is a real chance that Spain may avoid default and debt restructuring unless it gets dragged down by contagion,” the report said. Italy's starting debt position, on the other hand, is much worse at 128% and could possibly rise ... | ||||||||||||
Greek Champions Become Job Seekers as Debt Woes Dry Up Olympics Funding Bloomberg The GDP, which contracted 4.4 percent in 2010, will shrink a further 3.8 percent this year, according to a report from EU and IMF inspectors in July. The nation's debt load will peak at 161 percent of GDP next year. It's already the biggest in the euro ... | ||||||||||||
Europe's Destabilizing Feedback Loop Business Insider Though the IMF forecasts Italy's general government budget deficit to be around 4.3 percent of GDP this year, lower than the 4.8 weighted average for the EU, the markets are growing increasing concerned about the feedback loop. ... | ||||||||||||
GLOBAL MARKETS-World equities reel towards 8th day of losses Reuters ... policymakers do not come to the rescue soon to stabilise the euro zone's debt crisis and prevent the US economy from sliding back into recession. After panic overnight triggered the worst sell-off on Wall Street since the global financial crisis, ... | ||||||||||||
Asian giants urge global talks on economic crisis Taipei Times A flurry of weak economic data and Europe's debt woes have fed fears of a fresh recession, triggering Thursday's sell-off on Wall Street, which was the worst since the global financial crisis. About US$2.1 trillion in market value was wiped off the ... | ||||||||||||
Dow tumbles in worst loss since financial crisis on recession fears; Kraft ... Proactive Investors Australia Proactive Investors Australia is a leading financial and investor website and platform, with over 175000 unique investor visitors per month, that is focused on stock related news and analysis for "Small-Mid Cap" investors, including; analysts, ... | ||||||||||||
Italy Seeks to Balance Budget by '13 as Berlusconi Speeds Up Fiscal Steps Bloomberg While yields on Italian and Spanish debt fell today, borrowing costs have surged since a July 21 European Union summit aimed at heading off contagion from Europe's debt crisis to the euro zone's third- and fourth-largest economies. ... | ||||||||||||
Leveraged-Loan Prices Have Biggest Drop in 15 Months on Weakening Economy Bloomberg European Central Bank President Jean-Claude Trichet said yesterday that the ECB is offering euro-area banks as much money as needed for six months to stem the financial crisis, as concerns intensify that Italy and Spain would follow Greece in seeking a ...
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