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

Tuesday, September 20, 2011

Greek default: What it would mean

Greek default: What it would mean
CNNMoney
By Chris Isidore @CNNMoney September 19, 2011: 4:45 PM ET Risk of a Greek default is 100% according to credit default swap traders, while the probability is rising in Portugal, Italy, Ireland and Spain. NEW YORK (CNNMoney) -- Experts agree it's almost ...
Lenders press Greece to shrink state and avoid default
Reuters
A default would threaten contagion to larger euro zone economies such as Italy and hammer European banks with heavy exposure to Greece. Prime Minister George Papandreou canceled a planned trip to Washington and the United Nations at the last minute and ...
European Interbank Rates Climb
Wall Street Journal
The rate peaked in the last credit crisis at 2.069% on Oct. 10, 2008, after Lehman Brothers' collapse. The more banks charge to borrow over longer periods, the more negative their sentiment. Spreads between the Euro Interbank Offered Rate (Euribor) and ...
Nordvig Doubts Greek Default Would `Bring Down' EU Banks
Washington Post
19 (Bloomberg) -- Jens Nordvig, a managing director of currency research at Nomura Holdings Inc., talks about Europe's sovereign debt crisis and possible impact of a default by Greece on euro-zone banks. He speaks with Matt Miller and Carol Massar on ...
Oil falls 2% as Greece default prospects rise
MarketWatch
By Laura Mandaro, MarketWatch SAN FRANCISCO (MarketWatch) — Oil futures sank more than 2% Monday, marking their lowest close in three weeks, on worries Greece could soon default, further undercutting economic growth and global oil demand. ...
Banks More Reluctant to Lend Amid Bets Greece Close to Default
Bloomberg
Photographer: Angelos Tzortzinis/Bloomberg A gauge of banks' reluctance to lend to each other in Europe rose for the first time in a week amid renewed concern Greece is headed for a default. The Euribor-OIS spread, the difference between the three- ...
US financial crisis: an economic Armageddon?
Ceylon Daily News
It was indeed a tireless and magnificent effort by the Congressional leaders of America to avert the country's first ever financial default - inability to pay its debts - which would have meant defaulting on its legal obligations to pay social security ...
FTSE hit as Greek default fear spurs risk flight
Business Day
Britain's leading shares erased much of last week's gain after concern Greece will baulk at the austerity cuts needed to secure fresh bailout cash, and instead nosedive into a disorderly default, prompted a broad-based flight from risk. ...
Brazilian Real Sinks to One-Year Low on Greek Default Concern
Bloomberg
“It looks very similar to the 2008 financial crisis and the regulation risk amplified the real's decline,” said Flavia Cattan-Naslausky, a strategist at RBS Securities Inc. in Stamford, Connecticut, who is betting the currency will continue to slump. ...
Mexico Stocks Close Lower As Greece Default Worries Linger
Wall Street Journal
By Laurence Iliff Of DOW JONES NEWSWIRES MEXICO CITY (Dow Jones)--Mexican stocks closed moderately lower Monday after a long weekend, with concerns over a possible default by debt-laden Greece generating renewed anxiety. The IPC index of the 35 leading ...
Ahead of UN General Assembly, Obama, Merkel discuss European financial crisis ...
Washington Post
By AP, WASHINGTON — President Barack Obama and German Chancellor Angela Merkel (AHN'-geh-lah MEHR'-kuhl) are continuing their consultations on the European financial crisis. The White House says the two leaders spoke by telephone Monday and agreed ...
Euro zone contagion spreading - World Bank
TVNZ
Developing nations and emerging markets have been engines of global growth since the devastating 2007-2009 financial crisis. Any slowdown in developing economy growth could be a further setback to an already fragile global recovery. ...
Brazil Currency Weaker As Fears Of Greek Debt Default Mount
Wall Street Journal
By Jeff Fick Of DOW JONES NEWSWIRES RIO DE JANEIRO (Dow Jones)--Brazil's currency traded weaker at the open Monday amid renewed fears that debt-saddled Greece could be headed for the European Union's first-ever sovereign debt default, while concerns ...
Summary Box: Stocks sink on fears Greece won't get emergency funds in time to ...
Washington Post
Stocks fell on fears that Greece may not qualify for emergency funds it needs to avoid default. US DEBT UNCERTAINTY: President Barack Obama on Monday called for $1.5 trillion in new taxes to help reduce the US deficit. The speech marked the start of a ...
Greek Default Inevitable?
CNBC.com (blog)
Is a default by debt-stricken Greece imminent? To currency trader Andy Busch, the situation in Greece is certainly "interesting." "There's a lot of pressure that has to be brought to bear on these guys to get them to crack down, to follow through on ...
NZ dollar falls on Greek default fears
Sydney Morning Herald
The New Zealand dollar has fallen, with investors' nerves on edge after a meeting of European officials failed to make any inroads on the threat of a Greek default. The kiwi dollar fell to 82.29 US cents at 5pm (NZT) on Monday, from 82.59 cents at 8am ...
BOC's Lane Calls For Expanded Use Of Central Counterparties
Wall Street Journal
He said bilateral clearing contributed to contagion during the financial crisis. "Periods of market turbulence are a fact of life. In a resilient system, financial shocks are absorbed, creating losses for individual investors, but leaving the system ...
CANADA STOCKS-TSX slides on Greek default fears
Reuters
TORONTO, Sept 19 (Reuters) - Toronto's main stock index closed lower on Monday, after touching a one-week low during the day, as renewed fears of a Greek default and its fallout on the broader euro zone pressured world stocks and commodities. ...
U.S. stocks quit win streak on Greek default fears
MarketWatch
By Laura Mandaro SAN FRANCISCO (MarketWatch) -- US stocks quit a five-day winning streak to close lower Monday after recent euro-zone meetings signaled a Greek default might be sooner than some expected. The major indexes recovered somewhat in the last ...
Treasuries Bid on Greek Default Worries
Briefing.com
Bid: Treasuries are near their best levels of the session as global equity markets trade lower on Greek default worries. The weekend meeting of European finance ministers failed to produce results with some leaders suggesting Greece may not receive its ...
Argentina's lessons for Greece: the cost of default
GlobalPost (blog)
After a further slide in output Argentina grew by 9% in 2003, and carried on at around that rate until checked by the financial crisis of 2008 and global recession of 2009 … . But the Argentine precedent shows just how savage the crisis can be; ...
France Say Greek Default Is Not A Working Hypothesis
NASDAQ
PARIS -- France's finance minister Monday played down concerns of an imminent Greek default, saying that is not a working hypothesis for euro-zone policy makers. After talks with his counterparts over the weekend, Francois Baroin said the priority is ...
European Banks Are Talking To Us
Wall Street Journal
This is not a sign of a healthy financial system, it is a sign of a coming default in the European Union. The stock market has already priced in a Greek default despite all of the news out of Europe last week saying that would not happen. ...
Markets have factored in Greece default: Chris Wood, CLSA
Economic Times
The authorities and investors are more prepared in the sense they can see the risk, so that to that extent events are more discounted, any problem with that way of looking at things is that thisfinancial crisis in Euroland has potential to be much ...
San Diego default filings surge in August
SignOnSanDiego.com
SAN DIEGO COUNTY — The number of default notices, the first step in the foreclosure process, ballooned in August, largely due to activity from Bank of New York Mellon and Bank of America, figures from La Jolla-based DataQuick show. ...
Stocks fall over Greek default fears
IT Business Net
By GrabNetworks European markets tumble after EU finance ministers meeting in Poland at the weekend, failed to reach an agreement on how to tackle the euro zone debt crisis. Highest image quality and construction. And, more affordable. ...
E-Mini S&P 500: A proliferation of contagion?
Inside Futures
It would in a sense be like a house of cards. Italy may for example hold Greek bonds and fall prey to the effects of a potential default. A larger economy may lead to further weakness in the Euro Zone, hence leading to "contagion". ...
Greek Default Will Be Europe's Best Shot To Avert Disaster | Markets ...
The real lesson from 2008 is that every subsequent default in Europe will have greater and greater consequences. ... The real lesson from 2008 is that every subsequent default in Europe will have greater and greater consequences. ...
Minyanville
Greek Default Could Tip U.S. Into Recession - CNBC
Despite being more than 5000 miles from Washington D.C., a default in Athens could trip up the global banking system just enough to tip the U.S. into a recession, investors and economists said.... by a Europe-led global slowdown: raw materials, energy and industrials. However, U.S. banks were far and away the biggest losers on concern profits would be hurt even further by a globalcontagion that contains loan demand, curbs trading profits, and grinds merger advisory to a halt. ...
CNBC Top News and Analysis
Roubini: GREECE SHOULD DEFAULT, LEAVE THE EURO
By Joe Weisenthal
Banks could be recapitalized by the government through the issuance of recapitalization bonds; while this recapitalization would initially increase public debt, the reduction in public debt from a significantdefault would give some fiscal margin ...
Clusterstock
Eurozone: Further Sinking Into Financial Crisis | iStockAnalyst.com
The inability of Europe and its banks to handle and contain the damage sustained in the 2008financial crisis means the Eurozone sovereign and banking crisis continues to worsen. Two factors appear to be fueling the crisis, a) political ...
Home: iStockAnalyst.com Feed
What To Do When You Receive A Mortgage Default Notice
By Vivian Giang
How The Financial Crisis Changed America's Attitude Toward Debt. It looks like banks are finally moving on the backlog of delinquent mortgages. Default notices surged 33% in August, with a 200% increase by Bank of America. That means ...
Business Insider
NewsDaily: Greece must shrink state to avoid default-lenders
By George Georgiopoulos and Ingrid Melander
default would pose the risk of contagion to larger euro zone economies such as Italy and hammer European banks with heavy exposure to Greece. The finance ministry said no cabinet meeting was scheduled after the telephone call with ...
NewsDaily: Top Headlines
Forex - EUR/GBP down amid renewed Greece default fears By ...
By Forexpros
Forexpros – The broadly weaker euro was lower against the pound on Monday, as the lack of headway by finance ministers in resolving the euro zone's financial crisis and averting a default by Greece weighed. EUR/GBP hit 0.8671 during ...
Forex Pros RSS News Feed | Forex News
Why Greece Should Default | IdeaFeed | Big Think
By Big Think Editors
Why Greece Should Default. Big Think Editors on September 19, 2011, 7:30 AM. Tweet · Euro_flag. What's the Latest Development? The severity of the European financial crisis is largely a result of a continent-wide political crisis, says billionaire hedge fund investor George Soros. The lack of a central European treasury has too often ... Fourth, the government bonds of the other deficit countries would have to be protected from contagion." Read it at The New York Review of Books ...
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