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

Saturday, September 10, 2011

Germany Said to Prepare Plan to Aid Country's Banks Should Greece Default

Germany Said to Prepare Plan to Aid Country's Banks Should Greece Default
Bloomberg
Credit-default swaps insuring Greek sovereign bonds jumped 212 basis points to a record 3238, according to CMA. The five- year contracts signal there's a 92 percent probability the country won't meet its debt commitments. “Countries must act now and ...
Default and Dissent Threaten Greece
Wall Street Journal
By CHARLES FORELLE in Brussels and ALKMAN GRANITSAS in Athens Sixteen months after a landmark bailout and seven weeks after a fresh deal to pull it back from the brink of collapse, Greece remains in danger of descending into a messy, ...
Greek default fears return
CNN
By Ben Rooney @CNNMoney September 9, 2011: 3:39 PM ET NEW YORK (CNNMoney) -- Investors were rattled Friday as worries the Greek government may default on its debts resurfaced. Stocks markets in Europe and the United States plunged. ...
Credit-Default Swap Indexes Rise in Europe on Stimulus Concerns
Bloomberg
The Markit iTraxx Financial Index of credit-default swaps on 25 banks and insurers increased 26 basis points to 290, according to JPMorgan Chase & Co. at 4:30 pm in London. The gauge, which is up from 246 basis points Sept. ...
Greek official dismisses default rumors
Houston Chronicle
Photo: Petros Giannakouris / AP THESSALONIKI, Greece (AP) — Greece's finance minister on Friday angrily denied rumors that the country faced possible default this weekend, as renewed uncertainty took a toll on the markets and thousands of police ...
Asia Stocks Fall on Japan Data, China Provincial Default Report
San Francisco Chronicle
Sept. 9 (Bloomberg) -- Asian stocks fell, with the regional benchmark index headed for its first weekly loss in three weeks, on declines by Japanese machinery makers and after a report a Chinese province defaulted on its debt. Fanuc Corp. led Japanese ...
RATE FUTURES REPORT: Key Rate Seen Rising On Greek-Default Fears
Wall Street Journal
By Howard Packowitz Of DOW JONES NEWSWIRES CHICAGO (Dow Jones)--A rise in a key interbank lending rate is likely to happen by year's end, based on pricing Friday of Eurodollar futures, as speculation was raised another notch that Greece will default on ...
Financial crisis over: Mohammed
Khaleej Times
DUBAI — Dubai has overcome the financial crisis that forced it to delay debt payments two years ago, His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said as he inaugurated the Green ...
Analysis - No-growth austerity opens Portugal to contagion
Reuters UK
By Andrei Khalip LISBON (Reuters) - Portugal looks increasingly vulnerable to contagion from the Greek crisis, with even its tough austerity programme impeding the thing it needs most to tame borrowing costs -- a quick return to economic growth. ...
Reports: Greece may face default; DJIA plummets 300
The State Column
Investors fled stocks Friday, fearing Greece may default on its debt as early as the weekend. Stocks sank, while the euro slid to a ten-year low versus the yen and a six-month low against the dollar, as concern grew about Greece's debt crisis. ...
Financials Fall, JPMorgan Shares Hit 1-Year Low On Greece Default Worries
Forbes (blog)
The financial sector is reacting to debt worries from Europe and growing speculation that Greece might default. Bloomberg said Germany is preparing plans to shore up its banks in the event that Greece fails to meet the terms of its aid package and ...
For Banks, Unfortunate Echoes of 2008
New York Times
Shares in Intesa Sanpaulo, an Italian bank, have lost half their value this year, and are trading for about one-quarter less than they did on March 9, 2009, when most financial stocks hit their credit crisis lows. UniCredit in Italy, Société Générale ...
Euro Crashing: Greek Default To Come?
Business Insider
Via Zerohedge, there is chatter which says Greek default is imminent, and will be happening probably over the weekend. It is by no means unexpected as the CDS market has pretty much been pricing in almost absolute certainty that Greece will default. ...
BNP Paribas Securities Corp. Joins CME Group for Clearing of Credit Default Swaps
MarketWatch (press release)
NEW YORK, NY, Sep 09, 2011 (MARKETWIRE via COMTEX) -- BNP Paribas Corporate and Investment Banking, through its US registered broker dealer, BNP Paribas Securities Corp., today announced that it has joined CME Group to clear Credit Default Swaps (CDS). ...
EMERGING MARKETS-Latam stock sink on European debt crisis fears
Reuters
By Rachel Uranga and Michael O'Boyle MEXICO CITY, Sept 9 (Reuters) - Latin American shares sank on Friday as global equity markets tanked on fears a Greek default could hobble major European banks and deepen a global economic slowdown. ...
Italian Yields Climb on Greek Default Rumors
Briefing.com
European Yields: European government debt is seeing a mixed trade as rumors of a Greek defaultas early as this weekend have made their way into the marketplace. Safe-haven flows are finding their way into Bunds and Gilts while trouble peripheral paper ...
Will Greece be labelled "default" today?
FXstreet.com
This is due to the following: 1) Expectations that the debt crisis will make headlines (Greece is about to implement debt restructuring measures that will result in the country being labelled “default” by the rating agencies). ...
Govt forcing default on 9 IPPs who served notices
PakistanToday.com.pk
ISLAMABAD - The government is twisting the arms of nine independent power producers (IPPs) to force them into a default, for invoking sovereign guarantees against non-payment of their Rs 31 billion in outstanding dues and also to warn other IPPs to ...
Italy contagion would destroy euro zone - Poland
Reuters UK
KRYNICA, Poland (Reuters) - The euro zone needs to get ahead of the curve in tackling its sovereign debt crisis and above all prevent it infecting Italy or else face disaster, the finance minister of Poland, current holder of the EU's rotating ...
Italy to Miss Budget Goal, Risks Default, Capital Economics Says
San Francisco Chronicle
8 (Bloomberg) -- Italy will fail to balance its budget in 2013, and a shrinking economy and low potential growth will hamper efforts to cut Europe's second-biggest debt, increasing risk of default, Capital Economics Ltd said. "If our gloomier economic ...
Wells Fargo shops fire sales amid Europe's banking conflagration
Bizjournals.com
KBC must sell the unit as part of an agreement with the European Commission to repay government aid extended during the depths of the 2008 financial crisis. For those unfamiliar with successful negotiations, it's always best to be cutting a deal where ...
Europe's Plunge Leaves 9% Yields
Smartmoney.com
Some analysts think Greece could default on its debt as soon as this year--perhaps even this month. That could trigger a financial crisis among weak peers like Portugal and Spain and cause steep losses for stronger euro-zone countries like Germany. ...
US Stocks Close Sharply Lower On Greek Default Fears
Barron's (blog)
In Europe, despite rumors that Greece is near default, leaders there called such speculation rubbish – for this weekend, anyway. A European Central Bank policymaker abruptly resigned. Net result: the dollar jumped to a nearly seven-month high against ...
A contagion of CEQA fast tracking hits Sacramento after AEG Stadium deal
89.3 KPCC (blog)
Is AEG spawning a CONTAGION of precedent-setting changes to the state's environmental review process? A bill that back in April and May concerned schools now would speed review of CEQA appeals for major projects around the state. ...
County resolves workers' comp default issue
Middletown Journal
By Lauren Pack, Staff Writer 10:04 PM Thursday, September 8, 2011 HAMILTON — Butler County officials were preparing for a hearing next week regarding an apparent default in its Ohio Bureau of Workers' Compensation payment program, but Commissioner ...
Experts discuss financial crisis
The Independent Florida Alligator
Phil Angelides, who chaired the US Financial Crisis Inquiry Commission, discussed the current economic and financial crisis to students and faculty in Pugh Hall Thursday night. Leading financial-reform expert Phil Angelides warned students, ...
Rob Parenteau: Revisiting the PIIGS Led to Slaughter Perspective ...
By Yves Smith
Rob Parenteau: Revisiting the PIIGS Led to Slaughter Perspective – Implications of a Greek Default. By Rob Parenteau, CFA, sole proprietor of MacroStrategy ... However, private sector nonfinancial debt stopped growing in 2008 as the Global Financial Crisis hit, and we have since witnessed the onset of a nominal income contraction since 2009, when fiscal policy became hamstrung by what amounts to a bond investor capital strike. We currently have in hand an extreme case of this ...
naked capitalism
Here's Why Everyone's Thinking That Greece Might Default This ...
By Simone Foxman
This swap technically signals default anyway, so the failure to go through with it means we'd see a hard default rather than the managed, "selective" default outlined in the July 21 agreement. The deadline for bondholders to declare interest in ...
Money Game
Stock Market Today: Greek Default Fears Send Dow Down 300 ...
The news of a possible Greek default, which would be a historic first-time event, overshadowed any individual stock stories today.
Minyanville
Indicators of the New Financial Crisis, Arnold Kling | EconLog ...
By Arnold Kling
Indicators of the New Financial Crisis. September 9, 2011. An Education Gap? September 9, 2011. The Stupidest Argument for Stimulus. September 8, 2011. My NPR Non-Appearance. September 8, 2011. Old-time Religion? BRYAN CAPLAN ...
EconLog
Greece dismisses default rumours | Economy | Financial Post
Finance Minister Evangelos Venizelos dismissed 'rumours' of a Greek default, saying the nation is committed to 'full implementation' of the terms of a July agreement for a second aid package.
FP Top Stories List
Germany Prepares for Eurozone Debt Default, ECB Resignation ...
Germany Prepares for Eurozone Debt Default, ECB Resignation Hammers Stocks :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle
Greek 5 year credit default swaps rise to 3000 bps | ForexLive
5 Responses to “Greek 5 year credit default swaps rise to 3000 bps”. Ricardo on September 9th, 2011 08:16 GMT. Good morning Gerry. I´ve been short cable @163.46. its very choppy at this level here and it looks that it wants to turn around. ...
ForexLive
As Greece Denies, Germany Begins Greek Default Preparations ...
Literally seconds after the Greek finance ministry announce that any rumors of a Greek default over the weekend are absolute rubbish (we wonder who would admit such rumors?), we get the following from Bloomberg: "Chancellor Angela Merkel's government is preparing plans to shore up German banks in the event that ... 9/11: How Osama bin Laden caused our banking meltdown and financial crisis. 9/11: How Osama bin Laden caused our banking meltdown and financial crisis. ...
eWallstreeter
Market Chatter Of Greek Default Over The Weekend | ZeroHedge
Ok, maybe it's a dumb question but ... if all the PIIGS default, won't that save the Euro? No need to print, no funny buying of bonds, just a big f-u to the bond ...
www.zerohedge.com/.../market-chatter-greek-default-over-we...

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