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

Monday, November 7, 2011

Greece default: Greek PM agrees to step down – under certain conditions.

Greece default: Greek PM agrees to step down – under certain conditions. how ...
Christian Science Monitor
Officials scrambled to avoid a Greece default Sunday by hashing out an agreement that Prime Minister George Papandreou will step aside for a new coalition government. But who will take Mr. Panandreou's place? By Lefteris Papadimas, Reuters / November 6 ...
Eurozone crisis piles pressure on credit default swaps
Financial Times
By Tracy Alloway Credit default swaps – the insurance-like derivatives instruments once labelled “financial weapons of mass destruction” – are now themselves under attack. Vilified by regulators after the financial crisis, the $26000bn market is ...
Pranab to meet Bengal governor on state's financial crisis
Daily News & Analysis
Place: New Delhi | Agency: PTI Union Finance Minister Pranab Mukherjee is likely to hold a meeting on Tuesday with West Bengal Governor MK Narayanan who had discussed the state's financial issues with the former recently, official sources said tonight. ...
The PIIGS Dominoes
Seeking Alpha
Greece continues to be the focal point of the world, with the other PIIGS not too far behind—since they are the other dominoes that could presumably fall if Greece defaults. Greek Credit DefaultSwaps are now trading around 6500 bps, which is about ...
To Euro or Not to Euro?
Huffington Post
Greece is no more responsible for world contagion than the investment banking firm of Lehman Brothers was for the 2008-2009 financial panic. Recapitalizing European banks against default will be cheaper than bailing out Greece through a prolonged ...
Investors Can't See Banks for the Hedges
Wall Street Journal
It also took the unusual step of publishing position-level data for exposures to the so-called Piigs countries — Portugal, Ireland, Italy, Greece and Spain. Of particular note for bigger banks—namely JP Morgan, Bank of America, Citigroup, Goldman ...
'SNL' Sends Up Greek Financial Crisis and Kim Kardashian's Divorce
Wall Street Journal (blog)
The best bits on the program included a send-up of Kim Kardashian's divorce, and a look at how the Greek Gods might have handled the Greek financial crisis. Oh–and Day was pretty funny in the “Crime Scene” skit. Take a look.
Euro, Australian Dollar Strengthen as Greek Unity Accord May Avert Default
Bloomberg
By Candice Zachariahs - Sun Nov 06 21:49:25 GMT 2011 The euro, the Australian dollar and New Zealand's currency all strengthened after Greek political leaders agreed on the creation of a national unity government that will work to secure international ...
Did a Harvard economics class cause the financial crisis? Students walk out of ...
Daily Mail
In an open letter, they suggest his conservative curriculum has influenced former Harvard students – including today's policy makers and bankers – to bring about the financial crisis. Students had expected a class that included 'a critical discussion ...
PM worried over contagion
mydigitalfc.com
By Shubhrangshu Roy Nov 04 2011 , Cannes Europe with brave words of correction and comfort, but deeply concerned that the mess that Cannes was supposed to clear does not upset his applecart back home in India. Through his engagements here at the ...
Deutsche Bank CEO says must avoid Greek euro exit-TV
Reuters
DE) Chief Executive Josef Ackermann said a Greek exit from the euro zone must be avoided to prevent contagion to other vulnerable European nations. "We should not even begin to think about a Greek exit," Ackermann told German television ARD on Sunday ...
How Greek Gods Would Solve the Greek Financial Crisis (Video)
Gather.com
Other than receiving bailouts from the rest of Europe, how else can Greece solve the Greek financial crisis? In a clever skit done by Saturday Night Live last night, the Greek gods came together in a godly conference to brainstorm how to solve Greece's ...
Analysis: US bailout manuals handy if Europe crisis widens
Fox 59
During the financial crisis of 2007-2009, the Fed invoked emergency powers to take an array of unorthodox steps. They included standing behind the fire sale of Bear Stearns to JPMorgan Chase, and other programs ensured financial firms were always be ...
Default looms
CFJC TV Kamloops
The meeting was called by the Greek President to try to end a political crisis that is threatening the country's economy. Greece faces default within weeks if it doesn't reach an agreement thus failing to secure the next installment in an international ...
Retail buyers returning as default worries dim
Business Recorder (blog)
Individual investors see fewer financial-default clouds hanging over US local and state governments and are steadily tiptoeing back to America's $3.7 trillion municipal bond market. Muni mutual fund net inflows hit $141 million in the week ended ...
Desperate European Financial Tricks
Lew Rockwell (blog)
The only known solutions are (a) default, and (b) printing money to pay off the debts (inflation). Europe is trying to solve the problems by neither method. Their solution, as it has similarly been attempted by the US, is to issue more debt and create ...
It's Greek To Me
Business Insider
(First Time Unemployment Claims Increase But Less Than Usual) Tyler Durden of Zero Hedge reported on another aspect of the European debt crisis--the exposure of US banks to the European crisis, and the possibility of fiscal contagion spreading to the ...
Europe. Is. Finished.
istockAnalyst.com (press release)
Indeed, the debt situation is so endemic to Europe as a whole that corporate Debt to Equity ratios for ALL of the PIIGS as well as the supposedly fiscally conservative countries of France and Germany are TERRIBLE. What I'm trying to point out here is ...
Bashing China will not solve world's debt crisis
TODAYonline
by Chen Deming Since the outbreak of the international financial crisis, China has steered its macro-economic policies so as to expand domestic demand, stimulate imports while stabilising exports and promote balanced global trade. ...
Germany's Ruling Coalition Agrees on Income-Tax Cut By 2013
Wall Street Journal
"But we also want to thank our citizens for the sacrifices they have had to make during the economic and financial crisis." The coalition plans to make changes to German tax brackets, especially rules that now lift a taxpayer into a much higher bracket ...
Greek PM, opposition reach power-sharing deal
Atlanta Journal Constitution
They also warned a vote would jeopardize the disbursement of a vital $11 billion (€8 billion) installment of Greece's existing $152 billion (€110 billion) bailout, which the country desperately needs to avoid the potential of a catastrophic default ...
How Apple will use Siri, Maps and Microsoft to divorce itself from Google
The Next Web
Their map data, YouTube archive and default search option were integral parts of the iPhone experience. Now, with Google also in the mobile handset arena, the stakes have changed a bit. Apple's former CEO Steve Jobs saw the introduction of an Android ...
Alleging lending fraud, feds sue mortgage broker
Fort Wayne Journal Gazette
The lawsuit said the default rate climbed to “a staggering 55 percent” in 2006 and 2007, at the height of the housing boom, when the government paid $170 million to settle Allied's failed loans. It said an additional 2509 loans are now in default and ...
Greek banks issue €6.4bn in bonds
Financial Times
In July the International Monetary Fund urged the ECB to approve a new €30bn liquidity package to keep Greek banks afloat in case of a default. The ECB had authorised Greek bank bonds for use as collateral on a tranche-by-tranche basis since 2010, ...
Markets are ripe for positive moves
gulfnews.com
Initial reports for the first quarter were disappointing, but there were reasons for this: Australia's floods, Europe's credit crisis reprise, the severe US winter weather, and the Japanese earthquake and tsunami. It was harder to assemble excuses for ...
Papandreou to Step Down in Accord on Greek Unity Government
BusinessWeek
6 (Bloomberg) -- Greek Prime Minister George Papandreou agreed to step down as premier to allow the creation of a national unity government that will secure international financing for the country and avert a default. Papandreou met with Antonis ...
SOVEREIGN DEFAULT PROBABILITIES | PRAGMATIC CAPITALISM
By Cullen Roche
If you didn't know any better you might have assumed that the outlook for sovereign defaults in Europe had deteriorated quite substantially as Italian yields.
PRAGMATIC CAPITALISM
Italians gripped by rumours of contagion - Europe - World - The ...
Italians gripped by rumours of contagion ... With the spectre of a default looming over Greece, the realisation that Italy is next in line for debt meltdown threw ...
www.independent.co.uk/.../italians-gripped-by-rumours-of-co...
Financial crisis by government order - Conservative News and Views
And the Great Financial Crisis of 2008 has not ended. Three years ... Their premise is that bankers deliberately lent to people they knew might default. Why? ...
www.conservativenewsandviews.com/.../financial-crisis-by-go...

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