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

Friday, October 28, 2011

The eurozone financial crisis explained

The eurozone financial crisis explained
USA Today
A crisis that began with the discovery that Greece couldn't pay its debts has threatened to engulf not just the 17 nations that use the euro currency, but the entire 27-nation European Union. Rich nations such as Germany and France have been the ...


Euro-Zone Cheer Casts Cloud Over Treasurys
Wall Street Journal
By Cynthia Lin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Despite doubts about how long the current euro-inspired euphoria will last, Thursday's cheery atmosphere drove a major dent in the US Treasury market, propelling long-dated yields to their ...
Dallara Says Greek Technical Default to Last Weeks, Maybe Days
BusinessWeek
By Rebecca Christie and Maryam Nemazee Oct. 27 (Bloomberg) -- Greece will pass through a short period of “technical default” in the final stages of a newly agreed bond exchange, said Charles Dallara, managing director of the Institute of International ...
Papandreou Says EU Deal Gives Greeks Time to Defeat Default
San Francisco Chronicle
(Updates with President Sarkozy saying 'mistake' to let Greece into the euro area in ninth paragraph. For more on the European debt crisis, see EXT4.) Oct. 27 (Bloomberg) -- Prime Minister George Papandreou urged Greeks to back him in overhauling the ...
Obama Calls For Firewall To Prevent Europe Crisis Contagion -FT
Wall Street Journal
Obama wrote that the US would support Europe in resolving the financial crisis, which "must be resolved as quickly as possible," and he was "confident" that Europe would be able to meet the challenges ahead. To ensure global growth is balanced and ...
A Greek default in all but name
Washington Post
What constitutes a default? Here is Standard & Poor's definition: “We generally define a sovereigndefault as the failure to meet [the] interest or principal payments . . . contained in the original terms of the rated obligation. ...
Global Financial Crisis: Now in Game Form
Wall Street Journal (blog)
The exercise, supposedly occurring on a Friday in April 2013, is recreating visions of the credit crisisof 2008. The market has lost confidence in the fictitious bank, informs one panelist while another takes a call from the CEO of the bank about how ...
Investors set to pay for Greek default
Money Management
The country stands on the brink of default to the detriment of investor confidence worldwide. The greatness of Ancient Greece is considered by historians to have begun with the date of the first Olympic Games in 776 BC and ended with the death of ...
Dallara Says Greece Will Have Brief `Technical Default'
Washington Post
Oct. 27 (Bloomberg) -- Charles Dallara, managing director of the Institute of International Finance, discusses the Greek debt agreement reached by European leaders, who persuaded bondholders to take 50 percent losses. He speaks from Brussels with ...
Fear of Contagion
The Majalla Magazine
With a near insolvent and debt-ridden Greece presenting the very real risk of an unmanaged default, the threat of 'contagion' spreading to other debt-laden euro-zone states looms large. These events threaten not only a Europe-wide banking crisis, ...
Truisms of a Financial Crisis
Business Insider
Two out of five Americans with federal student debt can't make monthly payments and either defer,default or are delinquent, according to Mark Kantrowitz, publisher of Fastweb.com, a free scholarship-matching service, and FinAid.org, ...
EU's 'Grand Plan' Leads to More “Irrational Exuberance” and Prevents Contagion
Gold Seek
Contagion remains a real risk especially from Spain and Italy, which unlike Ireland, really are “too big to save”. Italy's debt alone is €1.8 trillion (bigger than the $1.4 trillion bailout fund)‎ and their 10 year bond has again risen to close to 6% ...
European Crisis Postponed; Investors Face Momentous Decision
Seeking Alpha
This is the real crux of the PIIGS problems. Unfortunately, this problem is not even being addressed. 3. A 20%-25% guarantee is insufficient. No sovereign would choose to assume the massive costs associated with default in order to obtain a mere a mere ...
Silvio Berlusconi hit by fresh revelations as Italy faces financial crisis
Mirror.co.uk
The documents are part of a 65000-page corruption case related to a political ally of Berlusconi and details emerged just hours after Berlusconi reassured European Union officials that he was tackling the financial crisis, which threatens to topple ...
EU's Greece Deal Has Dose of Irony
Wall Street Journal
After spending the aftermath of the financial crisis hogging the moral high ground and criticizing "Anglo-Saxon capitalism" for its penchant for financial engineering and excessive leverage, European Union leaders employed some of the same devices for ...
Seamus Coffey: A default for Ireland? It's not as simple as that, I'm afraid...
Irish Independent
From an Irish perspective the question that immediately arises is whether we should be looking to default on some of our sovereign debt in the same way that is now been allowed for Greece. Agreement was struck with the banks holding Greek bonds that ...
An ominous 2012
China Daily
The financial gloom even has us thinking about a doomsday, such as a financial crisis or economic collapse. But throughout history, the global economy has never stopped breathing because of sovereign debt. Next year will still be a year undermined by ...
Did China Try to Warn the US About the Coming Financial Crisis in 1999?
The Atlantic
Note that this is about a decade before the latest financial crisis, and I think some of what was said between the two men is fascinating in light of developments over that decade. (Please excuse potential mistranslations or deviations from precise ...
Financial Crisis Continues To Impact Energy Markets
AOL Energy
But as the impacts of the financial crisis continue to proliferate in political and regulatory spheres as well as across the broader economy, the energy sector may begin to face many of the same challenges as firms in other sectors adjusting to the ...
Daniel Maguire Named Head of SwapClear U.S.
PR Newswire (press release)
Clearnet is the only clearinghouse to have managed a significant OTC default, that being Lehman Brothers in 2008. During the default, Mr. Maguire was also responsible for the fixed income (RepoClear) default management close out, actively trading, ...
Insight into the financial crisis
The Canberra Times
It's that Europe and China will be far worse off as contagion whips around the globe. ''When you look at the problems facing the world, the bubbles and imbalances, America's are easier to fix than most,'' Choyleva told me in Hong Kong. ...
EURO Deal: markets rally on "Unfair default" — RT
By RT
With the Eurozone leadership needing to unveil a 'grand plan' to deal with the European financial crisis, the news that they need to delay until at least mid-next week is raising fears that they are simply trying to bridge the unbridgeable. ...
News RSS : Today
Truisms of a Financial Crisis
By Bill Bonner
Bill Bonner discusses the problems with the mainstream line of thinking with regards to the currentfinancial crisis, with reference to Larry Summers truism. ... Two out of five Americans with federal student debt can't make monthly payments and either defer, default or are delinquent, according to Mark Kantrowitz, publisher of Fastweb.com, a free scholarship-matching service, and FinAid.org, a source of student financial aid information… We'll save Larry Summers some thinking. ...
The Daily Reckoning
Mish's Global Economic Trend Analysis: Credit Default Swaps ...
By noreply@blogger.com (Michael Shedlock)
Mish's financial blog covers global news and macroeconomic events regarding the world economy. The blog's primary focus is inflation, deflation, and hyperinflation topics, especially currencies, gold, silver, crude, oil, energy and precious ...
Mish's Global Economic Trend Analysis
ekathimerini.com | Greece's communists warn of 'disorderly default'
European leaders have effectively made Greece's bankruptcy official, Communist Party leader Aleka Papariga said on Thursday, adding that the situation could develop into disorderly default. She did not elaborate. Eurozone leaders struck a ...
ekathimerini.com : Latest News
Global Financial Crisis: Now in Game Form - Wall Street ...
Global Financial Crisis: Now in Game Form. Share. From: MarketBeat. 4:54pm - October 27, 2011. A global bank failure is being simulated at the Economist's Buttonwood Gathering in New York. Continue reading this article » ...
eWallstreeter
'Economic Democracy' Key to Solving Global Financial Crisis Says ...
By nyct
Brooklyn, NY — Discussing citizen movements that arose in response to the global financial crisis, Costas Panayotakis, author of the new book Remaking Scarcity: From Capitalist Inefficiency to Economic Democracy (Pluto Press, UK, ...
CUNY Newswire
Greek Accord on Bonds Won't Trigger Credit-Default Swaps, ISDA ...
By RSS Feed
attempt to stem the sovereign crisis and prevent contagion to. Spain and Portugal, as well as Italy. German Finance Minister Wolfgang Schaeuble is ... Credit-default swaps backing $10 million of the nation's bonds for five years cost $5.6 million in advance and $100000 annually, according to CMA, which is owned by CME Group Inc. and compiles prices quoted by dealers in the privately negotiated market. That implies an 85 percent chance of default assuming investors recover 32 ...
Clearing and Settlement — Clearing...
Levmore on Why Economists Didn't Predict the 2008 Financial Crisis ...
By lsafranek
Levmore on Why Economists Didn't Predict the 2008 Financial Crisis. Lectures from The Floating University. Staff. Wall Street Journal Ideas Market. October 27, 2011. Last month, we hosted a few videos from The Floating University, which ...
News
Argentina's debt default: Gauchos and gadflies | The Economist
Argentina's default, after a severe economic crisis, sparked social unrest and runs on banks. It subsequently presented creditors with a take-it-or-leave-it offer of ...
www.economist.com/node/21533453?fsrc=rss%7Cfec
S&P/Experian: Default Rates Rise for First and Second Mortgages
Default rates for both first and second mortgages increased during the month of September, according to the S&P/Experian Consumer Credit Default Indices.
www.dsnews.com/.../sp-experian-default-rates-rise-for-first-an...

Default Insurance Market Takes Hit
Wall Street Journal
Under the broad deal reached this week to stem the euro-zone's financial crisis, holders of credit-default swaps on Greek government bonds aren't expected to receive any payout, even though a preliminary agreement between financial institutions and ...
Company Credit Risk Drops as Europe Agrees to Rescue Fund Boost
BusinessWeek
The Markit CDX North America Investment Grade Index, a credit-default swaps index that investors use to hedge against losses on corporate debt or to speculate on creditworthiness, dropped 12.2 basis points to a mid-price of 113.6 at 4:59 pm in New York ...

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