Silvio Berlusconi leaves behind an Italy deep in financial crisis
Globe and Mail
But Italy has a long, tough road ahead, regardless of who leads the country through its fiscal crisis. "The hope will be that Italy can quickly gain a new government with the stomach and the ability to implement major structural reforms," said Ben May ...
Decades Later, Student Loan Default Still Haunts Borrower
But there are millions more borrowers who are already in default on federal loans and who won't qualify for the plan. At the end of fiscal 2008, more than $39 billion in federal student loans were indefault. Among borrowers who started repaying their ...
Default probabilities for Belgium & Portugal drop: Albano
Nov. 8 - Kamakura default probabilities for Belgium and Portugal dropped below their moving average, pointing to an improved outlook, says Vincenzo Albano, Reuters fixed income analyst.
Corporate Bond Risk Falls in Europe, Credit-Default Swaps Show
8 (Bloomberg) -- The cost of insuring against default on European corporate and sovereign debt fell, according to traders of credit-default swaps. Contracts on the Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings ...
Financial crisis may delay CAP reform, warns MEP
Plans to reform the Common Agricultural Policy should not be agreed until the European Union has found its way out of its financial crisis and approved its next round of budgets, MEPs have claimed. Speaking at a debate on shaping EU farm policy and ...
The financial crisis in Europe will empty Algerians' pockets
Algiers-economic experts warn against the consequences of the financial crisis in Europe on Algeria and its impact on commodity prices over the three coming years, especially as Algeria depends on import of these products. According to the Algerian ...
Fitch Affirms Metrofinanciera at 'CCC' and 'CCC(mex)'
MarketWatch (press release)
Metrofinanciera still has 45% of its total assets in the land properties that triggered Metrofinanciera'sdefault in 2009 and only a small fraction of those are productive. In addition, roughly 85% of its construction loans (which account for 29% of ...
Harrisburg in default
Harrisburg, the state capital, is in default. It owes bondholders and creditors more than $300 million. That's six times the city's annual budget. How it got there is a convoluted tale of bad bets that the city's 48000 residents are paying off. ...
Update: BOC Carney: Euro Zone Risks Persist; No Contagion Yet
LONDON (MNI) - There are clear downside risks from the euro zone crisis but the feared financial contagion has yet to materialize, Bank of Canada Governor and newly appointed head of the Financial Stability Board, Mark Carney, said here. ...
AIG Shows Why World's Current Predicament is a Financial Crisis
International Business Times
AIG sold credit protection, or credit insurance, in the form of credit default swaps on collateralized debt obligations. Credit default swaps are insurance on debt that can be traded. Insure the correct assets and an insurance company like AIG can make ...
NHB to set up Rs 1200-cr default guarantee fund for urban poor
The scheme, which is awaiting Cabinet approval, will be a default guarantee scheme whereby banks and financial institutions, who fund houses to the urban poor up to Rs 5 lakh and area of 430 square ft. However, the lender can only avail of this ...
China Has Defenses Against Europe Contagion, Moody's Byrne Says
8 (Bloomberg) -- China has defenses to cope with any contagion from the euro area's debt crisis, including a high savings rate, a current account surplus and a central government that is spending within its means, Thomas Byrne, a senior vice president ...
S&P cuts eircom's rating, warns of default risk
"In our view, there is a clear risk of a capital restructuring over the next few months -- which would be tantamount to a default under our criteria -- as possible remedies could aim to address the long-term sustainability of the capital structure," ...
Contagion from debt, property worry analysts
Any prolonged recession combined with weakness in the property market would significantly affect SA and through that channel the contamination would be a concern for the sovereign rating, according to ratings agency S&P. MD of S&P in SA Konrad Reuss ...
Weekly Strategy - Selling EUR/USD On Italian Debt Contagion
On Tuesday, the Greek unity government will announce the new prime minister and cabinet, so there may be some final upside on short-term euphoria that a disorderly Greek default will be avoided. We think the European debt crisis is far from over, ...
Crowdsourced credit crisis cross-check « Blunt Object
Andrew Sullivan culls some insights on the credit crisis — specifically, the roles of investors, ratings agencies, and mortgage originators — from reader emails: Dish Check update: Who caused the financial collapse? Go forth and read. ...
Too Big To Fail Casino Banks Make $518 Billion Bet On PIIGS ...
By Problem Bank List Staff
The Too Big To Fail Banks are at it again, making huge speculative bets on the odds of sovereign default by Portugal, Italy, Ireland, Greece and Spain. The.
Problem Bank List
XE.com - S&P cuts eircom's rating, warns of default risk
Ratings agency Standard & Poors (S&P) downgraded the parent company of eircom, Ireland's largest phone company, three notches to CC on Tuesday and warned the group was in risk of defaulting on its debts.
XE Forex News
(Update) The Fire Next Time: The Euro Financial Crisis - Italian ...
By AZ BlueMeanie
Posted by AzBlueMeanie: This melodrama is starting to sound like an episode of Rocky and Bullwinkle: "Last week our heroes teetered on the edge of a no confidence vote and clung to a referendum on the European bailout for Greece......
Blog For Arizona
Financial crisis: Punishment Europe | Comment is free | The Guardian
When the Serbian dinar depreciated as a result of the global financial crisis, ... Subprime mortgages are mortgages lent to people, who are likely to default. ...
EUR/USD after Greek Default?
What will be the currency rate movement, in the case of a disorderly Greek default? The vast majority of both private and professional investors are really ...
(MFG) Client Home
By seeking Court approval on an emergency basis, the Trustee, in coordination with the CFTC, SIPC, and the CME and other exchanges, has been able to ...
"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore
Wednesday, November 9, 2011
Italy Nears Tipping Point as Bond Yields Climb
Italy Nears Tipping Point as Bond Yields Climb - WSJ.com: "With Italian bond yields surging higher, analysts said Italy is at the brink of being unable to afford to borrow in the public markets.Less than two weeks after European leaders unveiled an agreement that was designed to bolster confidence in the region, the yield on Italy's 10-year debt drew close to the 7% mark, a line in the sand of both practical and psychological importance to the market. Psychologically, 7% has become a beacon due to the fact that Greece, Portugal and Ireland each sought bailouts soon after their debt reached these levels. While analysts said it is too simplistic to say that Italy will be forced to ask for support if its 10-year debt yields 7%, they said the recent selloff is taking the country to the tipping point. "I don't know if 7% is the upper limit, or if it's 6.9% or 7.25%, but I do know [Italy] can't go on for very long having these kinds of bond yields," said Gabriel Stein, director at Lombard Street Research in London."