E&Y Says Greek Default Seems Unavoidable; Sees Risk of Recession BusinessWeek 29 (Bloomberg) -- A Greek default is inevitable and there is 35 percent chance of the euro-area economy slipping back into recession, Ernst & Young said. “The euro zone sovereign-debt crisis shows no sign of abating,” E&Y said in an e-mailed report in ... | ||
Portugal PM says country vulnerable if euro zone default Reuters LISBON, Sept 28 (Reuters) - Portugal's Prime Minister Pedro Passos Coelho said on Wednesday his country would be vulnerable if any country in the euro zone were to default on its debts. "I don't want any country to default but if this were to happen, ... | ||
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Euro Is Beyond Rescue in Debt Crisis, Szalay-Berzeviczy Says Bloomberg By Andras Gergely - Wed Sep 28 17:13:07 GMT 2011 The euro is “practically dead” and Europe faces a financial earthquake from a Greek default, according to Attila Szalay-Berzeviczy, global head of securities services at Italy's biggest lender UniCredit ... | ||
Massourakis Says Controlled Greek Default a `Pipe Dream' Washington Post Sept. 28 (Bloomberg) -- Michael Massourakis, group chief economist at Alpha Bank SA, talks about the Greek debt crisis. He speaks from Athens with Francine Lacqua on Bloomberg Television's "The Pulse." (/Bloomberg) Correction: Clarification: SuperFan ... | ||
Sovereign Debt Turmoil Risks Financial Contagion -ECB's Mersch Wall Street Journal Concerns that weak euro-zone governments will default have made banks wary of lending to other banks that hold this sovereign debt. Potential funding shortages at European banks are the ECB's top concern right now and are "the main topic of most of our ... | ||
Lenders Turn Global Favorite in Default Swaps: Australia Credit BusinessWeek Corporate spreads have expanded as concerns that Europe won't contain the fiscal crisis that started in Greece spurred rallies in US Treasuries and Australian government debt. The benchmark Australian 10-year yield rose nine basis points, ... | ||
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Review: Lewis' 'Boomerang' tracks financial contagion around the world San Jose Mercury News The book -- based on articles Lewis wrote for Vanity Fair magazine -- is a companion piece of sorts to "The Big Short: Inside the Doomsday Machine," his bestselling 2010 book about the fiscal crisis. Like that earlier book, its focus is narrow. ... | ||
Talk Of Greek Default Could Become Self-Fulfilling Prophecy Seeking Alpha The gravity of the Greek debt situation is underlined by the growing acceptance among policymakers in Europe that default is possible — or in the view of some, inevitable — for Greece, writes Oxford Analytica. Attempts to ring-fence the default ... | ||
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Sovereign Default: Panic Versus Fundamentals Wall Street Pit And if there is default on government debt, it will have an effect on the balance sheets of European financial institutions and this is the source of the recent concerns about the solvency of some of these institutions. Stress tests are designed to ... | ||
Miliband Admits Fiscal Crisis 'Down To Labour' 4RFV Now, the Labour boss has admitted: "We take responsibility for the financial crisis that took place in 2007-2008. "We along with other governments didn't regulate the banks properly." The opposition leader said he hoped his speech to the party's annual ... | ||
Argentina 2001-02 meltdown ugly example for Greece Reuters The lessons of those chaotic months are sobering ones for any government considering worst-case scenarios to cope with financial crisis. As Argentines rushed to open accounts under the names of relatives to skirt limits on bank withdrawals, ... | ||
Sovereign Credit Swap Index Falls in Europe, Reversing Increase BusinessWeek 28 (Bloomberg) -- The cost of insuring against default on European sovereign debt fell, reversing an earlier increase. The Markit iTraxx SovX Western Europe Index of credit- default swaps on 15 governments dropped four basis points to 332 at 2 pm in ... | ||
TEXT-Fitch: Defaults Up Slightly for US Bank TruPS CDOs Reuters Bank TruPS CDO defaults rose 0.28% to 16.5% from 16.2% last month due to the same percentage of August deferrals transitioning to default. 'The increase in bank TruPS CDO defaults was driven by previously deferring banks,' said Director Johann Juan. ... | ||
Mosler: Why Greece should not be allowed to default Credit Writedowns Moreover, the ECB's holding Mosler bonds will shift the default option from the issuer to the ECB, as in the case of non-payment, the ECB would have the option to make its holdings available for sale to tax payers of that nation to offset their taxes. ... | ||
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TEXT-Fitch affirms Luxembourg at 'AAA' Reuters Buoyant growth since Q409 means that GDP exceeded the peak before the financial crisis of 2008 by end-2010. Fitch expects even higher growth in 2011 of 3.8%, mainly due to strong base effects from Q410. However, beyond 2011 Fitch forecasts a gradual ... | ||
EU faces 'biggest financial crisis' East Coast Radio By Sky News The president of the European Commission is warning the European Union faces the biggest financial crisis in its history. Jose Manuel Barroso's comments come as there has been widespread criticism that leaders are acting too slowly in ... | ||
Anatomy of a Credit Contagion Money Morning Australia It has the ability to trigger a credit crisis on par with that experienced in 2008. I'll explain why in a moment. But first, let's look at the parallels to Austria in 1931. Here's what I wrote last year: 'It is worth remembering that upheavals in ... | ||
Swaps Clearing Revenue Could Match Energy Rise, Analyst Says BusinessWeek She said by 2016 the legislation could increase clearing revenue for interest-rate, credit- default, foreign exchange, equity and commodity OTC products by $830 million to $1.2 billion. “The opportunity is real, it just keeps getting pushed back. ... | ||
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Are Derivative-Based ETFs Sowing The Seeds Of The Next Financial Crisis? Seeking Alpha What is an ETF? Traditionally, exchange traded funds have been like 'index tracker funds', replicating the performance of a particular market or index. They are traded like shares on a stock exchange and can be bought and sold throughout the day. ... | ||
Trade Finance and the Financial Crisis | Building Capacity through ... By Otaviano Canuto As the 2008-9 financial crisis spread from its epicenter in the United States to the rest of the world, policy makers found themselves in uncharted waters. The effects of the global contraction were so severe that the world experienced the largest ... blogs.worldbank.org - Our conversatio... | ||
Flying PIIGS by Gary North The Greek government is going to default on its interest payments to the bonehead European bankers and investors who thought that getting high interest rates on Greek debt was a great way to avoid suffering the low-interest rates on German ... LewRockwell.com | ||
Massourakis Says Controlled Greek Default a `Pipe Dream' - YouTube By Bloomberg Sept. 28 (Bloomberg) -- Michael Massourakis, group chief economist at Alpha Bank SA, talks about the Greek debt crisis. He speaks from Athens with Francine L... Uploads by Bloomberg | ||
Bloomberg: Government Should Make Healthy Choices The “Default By Rob Port Bloomberg: Government Should Make Healthy Choices The “Default Option” For Americans. Rob Port • September 28, 2011. Tweet. This is how it starts. They say they're just making the right choices the easiest ones to make. But then, they ... Say Anything | ||
TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS : The ... By The Disciplined Investor (The Disciplined Investor) Greek lawmakers voted today on a property tax that is key to convincing the the EU and IMF to release an aid installment and avert default of Greece. This is simply a ploy to cook the books in a way that shows there will be money available to ... The Disciplined Investor | ||
Financial crisis: the “broker” of the BBC assured that Goldman Sachs ... By Stock Market Today Financial crisis: the “broker” of the BBC assured that Goldman Sachs' head of the world. Posted on September 28, 2011 by Stock Market Today. The man presented as a broker by the BBC and that created a buzz on the internet by confessing ... Stock Market Today News - Market Watch | ||
TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS - Wall ... TDIMG Inside Edition – 9/28/2011: Lipstick on The PIIGS. Share. From: The Disciplined Investor. 10:32am - September 28, 2011. During the month of September, we are going to be adding a special section to this site. The TDI Managed ... eWallstreeter | ||
Greece would probably benefit from devaluation and default ... By Shaun Richards The second is one of logic. When the financial crisis began European politicians were very critical of what they called Anglo-Saxon financial engineering such as securitisations and collaterised debt obligations. As this as a minimum would be ... Mindful Money | ||
Labour must never again be captive to bankers « Debtonation: The ... By Georgia Lee “I have just returned from a lecture tour of Australia where I came across the story of the Sydney Diocese and what the Aussies call the GFC – the Global Financial Crisis. The Sydney Diocese, far from chasing the money-lenders from the ... Debtonation: The Global Financial Crisis | ||
MOSLER BONDS FOR THE ECB AND WHY GREECE SHOULDN'T ... By Warren Mosler The ECB holding Mosler bonds will shift the default option from the issuer to the ECB, as in the case of non-payment, the ECB would have the option to make its holdings available for sale to taxpayers of that nation to offset their taxes. PRAGMATIC CAPITALISM | ||
Euro Zone Debt Crisis: PIIGS Becoming IGS? Portugal, Ireland Look ... For most of the summer, markets seemed to pick a different European country as their focus of their angst almost every day. www.cnbc.com/.../PIIGS_Becoming_IGS_Portugal_Ireland_L... | ||
Bronte Capital: Models for a Greek Sovereign Default If you had a debt in US Dollars in Argentina prior to the default you were forced to pay it .... It might placate the PIIGS public for long enough to slip some of the ... brontecapital.blogspot.com/.../models-for-greek-sovereign-def... | ||
Prison Planet.com » Can Countries Default On Their Debts? So while America may not technically default, it may default in practice, by printing so many ...How did Greece, Iceland and other countries get to the point of default? ... you have to prepare yourself and your family for the financial crisis ahead. ... www.prisonplanet.com/can-countries-default-on-their-debts.ht... |