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

Wednesday, September 21, 2011

Greece Default Would Leave German Taxpayers Facing Bills From 'Bad' Banks

Greece Default Would Leave German Taxpayers Facing Bills From 'Bad' Banks
Bloomberg
(Source: Bloomberg) Germany's bad banks, backed by the state to prevent the collapse of Hypo Real Estate Holding AG and WestLB AG during the credit crisis, would be the hardest hit in the event of a Greek default, leaving taxpayers to shoulder the bill ...
Greece default fears continue to lurk
CNNMoney
The main concern is that a default by Greece will drag down other European economies that are struggling with weak growth and unsustainable levels of debt. The banking system in Europe is also considered vulnerable to failures if Greece were to go bust ...
Greek default could be disaster for Portugal: PM
Reuters
Some economists have said Portugal is likely to be hit hard by financial contagion if Greece defaults on its debts. Portugal, with a 78 billion euro bailout, was the third euro zone member to receive rescue funds after Greece and Ireland. ...
Greece to default but not leave euro zone-Fitch
Reuters
Fitch also said it did not expect any systematically important financial institution or sovereign to be allowed to default. Contagion fears have put the spotlight on Italy and Spain's finances and yields on their benchmark bonds remain high despite ...
Greece Should Default and Quit the Euro: Roubini
CNBC.com
"Via nominal and real depreciation, the exit path will restore growth right away, avoiding a decade-long depression," said Roubini who warns that contagion for countries such as Italy and Spain is already a reality, and requires liquidity support from ...
Default Fears Nibble At Greek T-Bill Auction
Wall Street Journal
By Emese Bartha and Alkman Granitsas Of DOW JONES NEWSWIRES ATHENS (Dow Jones)--Greece paid a slightly higher yield but garnered solid demand at a regular Treasury bill auction Tuesday, coming amid fears of a sovereign default and as the government ...
Venezuela's 55% Default Probability Overstated, BofA Says
BusinessWeek
20 (Bloomberg) -- Traders are overestimating the probability that Venezuela will default on its debt, Bank of America Corp. said. While the credit default swaps market is pricing in about a 55 percent chance that South America's biggest oil producer ...
S&P/Experian: Default Rates Mixed, Though Overall Optimistic
Wall Street Journal
Last month, first-mortgage default rates edged down to 1.92% from 1.93% in July, and from 3.16% a year earlier. Default rates on second mortgages ticked up to 1.27% from 1.25% in July, but were lower than 2.4% a year earlier. Bank card defaults dropped ...
Why Greece Should Default on Debt and Leave the Euro
International Business Times
By Hao Li | September 20, 2011 6:29 PM EDT Greece should default on its debt and leave the euro currency if it wants to have a chance at prospering in the coming decade. (This goes for other Eurozone countries in a similar situation). ...
Bank stocks hit as Greek default worries grow
BusinessWeek
Stocks of large banks fell more sharply than the broader market on Monday as fears grew that time may be running out for Greece in its nearly two-year struggle to avoid a debt default. After European banks tumbled in trading overseas, an index of major ...
How to Avoid Graduating College Summa Cum Debt
Huffington Post
Nationally, the statistics of recently minted graduates who already bear the mark of "Default" upon their credit records is staggering. Of the 3.6 million borrowers whose federal student loan payments started coming due in 2009 -- the most recent ...
German, Italian Credit Swaps Hit Records as Debt Crisis Deepens
San Francisco Chronicle
20 (Bloomberg) -- The cost of insuring against a default on German and Italian government surged to records as Italy's downgrade signaled Europe's debt crisis is spreading. Credit-default swaps protecting Germany's bonds rose four basis points to a ...
Credit default swaps on European debt in billions
Public Radio International PRI
So why haven't regulators stepped in to give more oversight of those credit default swaps after they helped lead to the financial crisis of 2008? Legislation proposed in 2010 to ensure a safer environment for investors has not been passed, ...
Greece Moves to Avert Default, Car Bomb Kills 3 in Ankara, Turkey
PBS NewsHour
In the face of a persistent debt crisis and fears of imminent default, Greek officials are meeting with the International Monetary Fund and other European nations again Tuesday in an effort to secure more bailout funds and assure creditors that it is ...
IMF: Greece Won't Default Or Leave Eurozone
Sky News
The International Monetary Fund has told Sky News that Greece leaving the eurozone was "not a scenario we are considering" and the country's default was "not inevitable". To view this content you need Flash and Javascript enabled in your browser. ...
BlackRock Buys Junk Debt at Spreads Exceeding Bearish Scenarios
San Francisco Chronicle
20 (Bloomberg) -- BlackRock Inc., the world's biggest money manager, is buying junk bonds after relative yields widened to levels that signal default rates more than three times the current pace and  in excess of Wall Street's most bearish outlooks for ...
Europe crisis shadows meeting of finance officials
The Associated Press
At that session in Poland last Friday, Geithner discussed programs that the United States used to confront its own financial crisis in 2008 and 2009 and pushed for a stronger commitment by European countries. "Markets don't respond well if you have the ...
1 in 5 Predicted to Default
MortgageLoan.com
Nearly one US homeowner in five could eventually default on their mortgage unless Congress adopts new policies to prevent it, according to a leading mortgage securities firm. Some 10.4 million additional homeowners are likely to default on their ...
Federal default rate rises by 1.8 percent
UConn Daily Campus
The default rates for federal student loans has increased 1.8 percent from 2008 to 2009 causing some students to worry about not only paying off their existing loans but also any future loans. Students like Michael Barnett, a 3rd-semester UConn student ...
Boubouras Likes Italian Bonds as Default `Inconceivable'
Washington Post
Sept. 20 (Bloomberg) -- George Boubouras, head of investment strategy at UBS AG's Australian wealth-management unit, talks about Standard & Poor's downgrade of Italy's credit rating and the outlook for Italian bonds. Boubouras speaks from Melbourne ...
Making the Case for a Second Credit Crisis
ETFguide
Yesterday's news was about a potential Greek default and it caused a global market selloff. Today, hopes of preventing a Greek default are causing markets to rally. This alternating news flow is repeating over and over again. ...
Stocks fall as Greek default looms
Philippine Star
MANILA, Philippines (Xinhua) - The Philippine stock market turned gloomy today over fears that Greece might default. The bellwether Philippine Stock Exchange index dived by 2.04 percent or 88.17 points to 4219.82. The broader all-share index slipped ...
Wall Street calm ahead of Federal Reserve 'twist' to tweak economy
Christian Science Monitor
Indications that Greece might not default on its debt, as well as reports that the Federal Reserve has a new plan to stimulate the economy, prompted a solid day on Wall Street. By Ron Scherer, Staff writer / September 20, 2011 Greek Minister of Finance ...
After The Greek Default, Could Civil War Be Next?
Forbes
While most commentators have focused on the post-default coping strategies Germany and France might take to protect their idiot bankers from the other tottering PIIGS, few have speculated on what fate will befall the Greeks themselves once their ...
Greek Default Would Have Limited Impact, Feld Tells Rundschau
Bloomberg
The prospect of any contagion spreading to Ireland and Portugal is not high since neither country's banks are particularly exposed to Greece, Feld was cited as saying. Greek banks would still need some 20 billion euros ($27 billion) from the European ...
CREDIT MARKETS: Activity Limited As Greek Saga Continues, Ahead Of FOMC
Wall Street Journal
One notable bout of buying came after the International Monetary Fund cut its outlook on global growth and warned that the euro-zone credit crisis could worsen its region's growth prospects. The IMF said it now sees the euro zone growing 1.6% this year ...
Ringgit Falls for 11th Day on Europe Debt Contagion; Bonds Gain
Bloomberg
Greek Finance Minister Evangelos Venizelos is holding talks with European Union and International Monetary Fund officials to secure a sixth installment of bailout funds needed to stave off a default. “Risk aversion has gone to the next level and the ...
Japanese Stock Futures Fall on Concern Greece Headed for Default, Yen Gain
Bloomberg
US stocks retreated, following the longest rally since July for the Standard & Poor's 500 Index, amid concern Greece will fail to qualify for more financial aid needed to avoid a debt default. Bloomberg's Pimm Fox also speaks. ...
Roundup: Euro contagion looms with Italy downgrade
CNN (blog)
Standard and Poor's downgraded Italy's credit rating, surprising global investors and adding to fears ofcontagion in the European financial crisis (Guardian). S&P reduced Italy's sovereign debt rating from A+/A-1+ to A/A-1, stating the country's ...
Traders Prepare for "Run" on European Banks
Sacramento Bee
By Institute of Trading and Portfolio Management The talk in the trading and investment community of the possibility of a Greek default seems to be intensifying. Greek ten year bonds are now pricing in a ninety nine percent probability of the country ...
Will it be Japanization, Monetization, or Financial Crisis 2.0? :: The ...
Will it be Japanization, Monetization, or Financial Crisis 2.0? :: The Market Oracle :: Financial Markets Analysis ... Monetization, or Financial Crisis 2.0? Stock-Markets / Credit Crisis 2011 Sep 20, 2011 - 11:46 AM. By: Mike_Shedlock ...
The Market Oracle
Roubini: Greece should default and leave euro - AMERICAblog News
By Chris in Paris
News and opinion about US politics from a liberal/Democratic/progressive perspective.
US Politics | 2012 Election -...
Nordvig Doubts Greek Default Would `Bring Down' EU Banks ...
By Bloomberg
Sept. 19 (Bloomberg) -- Jens Nordvig, a managing director of currency research at Nomura Holdings Inc., talks about Europe's sovereign debt crisis and possib...
Uploads by Bloomberg
Greece pressed to shrink state and avoid default - Business - Mail ...
Adding to concerns, Standard & Poor's cut its ratings on Italy in a major surprise that threatened to stoke fears of contagion in the debt-stressed eurozone. Greece is near a deal to continue receiving bailout funds, a Greek finance ministry ...
Mail & Guardian News Feed
Portugal, Ireland Shedding PIIGS Skin? - TheStreet
While Europe's economy remains vulnerable, two of its most indebted nations are showing signs of recovery.
www.thestreet.com/.../portugal-ireland-shedding-piigs-skin.ht...

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm

johnyah