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

Wednesday, December 14, 2011

Another eurozone crisis is only weeks away

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

Forget David Cameron's veto, another eurozone crisis is only weeks away
Telegraph.co.uk
By Jeremy Warner You wouldn't believe it to listen to the fulminating indignation directed at the UK from across the Channel, but David Cameron did the eurozone'spolitical leaders a favour last weekend. By refusing to sign up, he managed to create a...

US more concerned about eurozone's ability to contain crisis: Hillary Clinton
Xinhua
12 (Xinhua) -- US Secretary of State Hillary Clinton said on Monday that what concerns the United States is not the position taken by Britain, but whether the decisions made by the eurozonecountries will work to contain the deepening sovereign debt ...

Analysis: Merkel's post-summit glow fades in Germany
Reuters
In a Dimap poll for public broadcaster ARD, over half voiced dissatisfaction with Merkel's management of the euro crisis. Wolfgang Bosbach, a veteran CDU member of parliament who rebelled against Merkel in a cliffhanger vote in September on the current ...

Euro crisis simmers with banks under stress
The Associated Press
The rise in their deposits comes in the wake of an agreement by European leaders to forge a new treaty among the 17 members of the eurozone and as many as nine other EU members to toughen rules against accumulating excessive government debts. ...
The Euro Crisis: Was Cameron Right?
BusinessWeek
By David Champion In yet another effort to solve the euro crisis, France and Germany last week agreed on a stability pact that essentially offers increased bailout funds in return for even stronger fiscal austerity on the part of the major debtor ...
The Euro Crisis Is 'Single Biggest Threat' to UK Recovery
BusinessWeek
The euro crisis isn't just affecting economic growth in the UK, but may also unleash another credit crunch. Spencer Dale, the Bank of England's chief economist and member of its rate-setting Monetary Policy Committee, pointed to the signs in an ...
FSA boosts staff since financial crisis
Financial Times
By Brooke Masters, Chief Regulation Correspondent When the Financial Services Authority was in its “light touch” phase before the financial crisis, the answer fell as low as four and a half, according to this week's report into the 2008 collapse of the ...
Euro crisis teaches Bernanke another painful lesson
Telegraph.co.uk
The US Federal Reserve is expected to hold interest rates near zero at its last meeting of the year as the eurozone debt crisis shows the fragile recovery is not insulated from shocks elsewhere in the world. Ben Bernanke, chairman of the US Federal ...
Dollar falls amid eurozone uncertainty
NEWS.com.au
THE Australian dollar has dropped slightly after some negative commentary about the eurozonegovernment debt crisis. At 7am AEDT the Australian dollar was trading at 100.27 US cents, up from 100.83 at 5pm yesterday. HiFX senior trader Stuart Ive said ...
Washington Mutual executives set to settle financial crisis lawsuit
Los Angeles Times
The FDIC lawsuit has been one of the most high-profile efforts to recover money from the bank executives who led their institutions to failure during the financial crisis. Seattle-based Washington Mutual was the largest bank failure in US history, ...
Euro Crisis Likely to Resolve, For Better or Worse, in 2012: Schroders
Financial-Planning.com
A favorable outcome — which would mean the Eurozone crisis would fade from the news, with evidence of at least some continued growth in the developed world — could set equity markets up for a strong rally, he said. However, a less favorable ...
Stocks firmer but eurozone fears persist
Financial Times
Stocks are firmer but the euro remains under severe pressure as investors continue to express concern about the eurozone fiscal crisis. The FTSE All-World index is down 0.2 per cent and industrial commodities have seen meagre buying interest after ...
Eurozone crisis pushes Swiss to lower economic growth forecast
Gant Daily
Geneva, Switzerland (AHN) – The worsening eurozone crisis caused Swiss government officials Tuesday to lower the nation's expected economic growth forecast for 2012. They now predict that the gross domestic product will only grow by 0.5 percent instead ...
Funds favour US amid eurozone gloom
Financial Times
By Keyur Patel Fund managers are spurning Europe for the US, as a net 72 per cent – a record level – expect eurozone corporate profitability to deteriorate, a survey by Bank of America Merrill Lynch has revealed. But although investors rated the US, ...
Eurozone crisis live: UK inflation awaited as Spanish parliament meets
The Guardian
7.39am: Morning everyone and welcome back to our coverage of the eurozone debt crisis. I know, it seems like we haven't really been away. My colleague Graeme Wearden was live blogging events until late last night. One key event worth recapping from his ...
Eurozone respite boosts markets
The Press Association
Higher oil stocks and a brief respite in the eurozone debt crisis have helped markets on both sides of the Atlantic push higher. Despite a slow start, the FTSE 100 Index finished 62.3 points higher at 5490.1 after the eurozone bailout fund received a ...
Eurozone deal is a pill, but experts doubt it is a cure
eTaiwan News
The deal on Friday in Brussels to reformulate the rules of the eurozone has probably saved the shared currency for now – but there may be less to it than meets the eye. At least four major issues still need to be resolved: how much money is needed to ...
Eurozone downgrade would not be disaster: Slovak bank
Economic Times
BRATISLAVA: A possible downgrade of eurozone member states' credit ratings should not cause problems in the market, Slovakia's central bank governor and ECB governing council member said on Tuesday. "The impact of a possible rating downgrade within the ...
Potential S&P Downgrades Surge on Eurozone Woes
MyFox Phoenix
(NewsCore) - Standard & Poor's Ratings Services said its tally of potential bond downgrades has surged following the credit-ratings company's placement of 15 eurozone nations on watch for possible downgrade last week. According to S&P, the count of ...
Eurozone Pact Fails to Restore Confidence
Wall Street Daily
“One of the first issues that has to be addressed is will all of those current members of the eurozonein reality be able to come along with them and obey the rules. And the markets looking at it are saying 'actually, probably not. ...
Asian shares hit by eurozone concerns
Financial Times
By Song Jung-a in Seoul Asian shares were hit by rising risk aversion after credit rating agencies said Europe's debt crisis was far from over, leaving investors in fear of further downgrades. The FTSE Asia Pacific index slid 1 per cent to 221.35 as ...
Business confidence holds up despite eurozone crisis
ABC Online
MICHAEL JANDA: Confidence was flat at plus-2, which is a bit below average levels, but nowhere near the lows seen during the global financial crisis. Business conditions improved slightly, from zero to one. Alan Oster says mining still had the best ...
Weakness in Eurozone Shows More Negative Impacts on China's Trade
International Business Times
ZEW confidence data in the Eurozone delivered pleasant surprises in December. The 17-nation region economic sentiment index surprisingly improved to -54.1 in December from -59.1 a month ago. The reading in Germany alone recovered to -53.8 from -55.2 in ...
Analysis: Growth to bear brunt of euro crisis cure
Reuters
For Dario Perkins, an economist at Lombard Street Research, a consultancy in London, the belt-tightening prescribed by Germany and its ally France is the wrong solution to the euro crisis. Spain and Ireland, now deeply indebted, would have comfortably ...
The Rogues Gallery: Roundup of Financial Crisis Legal Settlements
Wall Street Journal (blog)
The expected payout is a fraction of the money the government had sought in the WaMu case, but it would be one of the highest ever executive payouts tied to alleged misdeeds during the financial crisis. Let's look at some of the prominent financial ...
Markets slide as Eurozone in turmoil
Montreal Gazette
He suggests, however, that eurozone worries may not have told the entire story about Monday's declines. "(Monday's) slide, which also may have been due to soft Chinese trade numbers and a profit warning from Intel, and particularly the collapse in ...
Eurozone bond yields fall at auction
CITY A.M.
Eurozone government bond yields have fallen today at auctions of new debt by Spain and Belgium, but investors remain nervous as fears mount that sovereign credit ratings will be downgraded soon. Spain's Treasury easily sold €4.9bn (£4.1bn) of 12- and ...
Eurozone deal boots investor confidence - The Local
The outcome of last week's EU euro crisis summit has given German investor confidence an unexpected boost, data showed on Tuesday, but the positive surprise could prove short-lived, analysts warn.
The Local - Germany's news in English
Today on the Eurozone Crisis, Arnold Kling | EconLog | Library of ...
By Arnold Kling
ARNOLD KLING. December 13, 2011. Today on the Eurozone Crisis. December 12, 2011. Two Papers on PSST. December 12, 2011. Inside the New Poverty Measure. December 11, 2011. Cheeseburgers Require PSST. December 10, 2011 ...
EconLog: Library of Economics...
Did Obscene Executive Pay Spark the Financial Crisis? | AFL-CIO ...
By Adele Stan
Did Obscene Executive Pay Spark the Financial Crisis? Yes. Will anyone do something about it? No. When Obama took office, he said we would move forward and not look back. That was code for telling the scoundrels that they were home ...
AFL-CIO NOW BLOG
Fuel Fix » Stocks firmer but eurozone fears persist
By FT.com - Energy
Stocks firmer but eurozone fears persist. ... Tweet. Share share E-mail. Equities are struggling for traction and the euro remains under pressure as investors continue to express concern about theeurozone crisis. 32. |. Tweet. Share share E- ...
Fuel Fix
CONTAGION - Global Guerrillas
By John Robb
Contagion: The communication of disease from one person to another by close contact. When the histories are written about his era, this word may prove to be central: contagion. Why? We're all connected -- on every level between the ...
Global Guerrillas
Clash at ERC: The UK and the Eurozone in the Shifting Global ...
By Danny Quah
First, the economic difficulties in the UK or the Eurozone cannot be usefully analysed without looking at these economies' positions in the world. Second, the UK and the Eurozone have an immediate problem with debt and an ongoing problem ...
DannyQuah
The Euro Crisis: Was Cameron Right? - David Champion - Our ...
By David Champion
Business bloggers at Harvard Business Review discuss a variety of business topics including managing people, innovation, leadership, and more.
HBR.org
DEUTSCHE BANK: Austerity Is Making The Euro Crisis Like The ...
By Simone Foxman
blake pestilence austerity In a new note this morning, Deutsche Bank's Jim Reid argues that "austerity is making it harder for countries to grow out of their debt burden," comparing the current measures to those which stalled economic recovery ...
Money Game
Gold, silver prices plunge on eurozone pessimism | Silver Prices
By Silver Guru
While last week's Eurozone summit resulted in a plan for fiscal integration — some time in the future — it did little to address the current need of European banks, which hold massive amounts of bonds from debt-choked Eurozone members, ...
Silver Prices
Comparing the US and Eurozone Debts | Gold Newswire
By goldguru
The Daily Reckoning Right out of the starter blocks this morning, the euro (EUR) has broken through that trading range it held last week (1.3350-1.3450), to.
Gold Newswire
Global Services - Assess the Impacts of the Euro Crisis Now
With extreme uncertainty plaguing all enterprises operating in the eurozone, CIOs must act immediately to protect their enterprises, according to Gartner, Inc. CIOs need to safeguard their enterprises from the risks of government/bank default, ...
Global Services - Latest Stories
On the financial crisis - the President's Videos
By Didier
Extracts from answer by Herman VAN ROMPUY, President of the European Council, regarding the conclusions of the last European Council, at the European Parliament, in Strasbourg. Download in broadcast quality. Share and Enjoy: ...
the President's Videos
Peter Schiff Blog: ECB `s Role In Eurozone Crisis
By Admin
The fact that the ECB can refrain from monetizing all this debt, which is what everyone seems to want, is a good thing... that's the only way to force governments to actually cut spending. At least the ECB, Germany, understands what the stakes ...
Peter Schiff Blog
U.K. to eurozone nations: We're out, good luck - CBS News
France, Germany convince 24 other nations to at least consider forging new euro pact, but U.K. balks at financial rules.
www.cbsnews.com/.../u.k-to-eurozone-nations-were-out-good...
The Financial Crisis Was Entirely Foreseeable | The Big Picture
Foreseeable or Not? I noted in April: Whenever there is a disaster, those responsible claim it was “unforeseeable” so as to escape blame. For.
www.ritholtz.com/.../the-financial-crisis-was-entirely-foreseeab...
Today on the Eurozone Crisis, Arnold Kling | EconLog | Library of ...
Independent national and Eurozone-level fiscal policy committees can also play a useful role. More ideas could be forthcoming. The point is that the policymaker ...
econlog.econlib.org/archives/2011/12/today_on_the_eu.html


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