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

Friday, December 16, 2011

ECB head Draghi says there is 'no external savior' for eurozone governments

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

ECB head Draghi says there is 'no external savior' for eurozone governments
Washington Post
BERLIN — European Central Bank president Mario Draghi says there's “no external savior” for heavily indebted governments in the 17-nation eurozone and gave no indication the bank is ready to step in and support their finances. ...

Eurozone private sector contraction slows: survey
AFP
BRUSSELS — Eurozone private sector activity shrank for the fourth month running in December marking the worst quarter for two and a half years, a key survey of trends showed on Thursday. But the slowdown eased for the second month, the Markit survey ...
AFP

UK's Cameron Discussing Euro Crisis, Will Attend EU Summit In Early 2012
Wall Street Journal
(Adds details on Cameron's plan to attend European Council meeting next year and UK's possible observer status at EU fiscal-pact talks.) By Nicholas Winning LONDON (Dow Jones)--UK Prime Minister David Cameron will talk to more European leaders in ...

Russia dangles eurozone aid offer at EU
Herald Sun
RUSSIA dangled a $US20 billion ($A20.24 billion) offer of IMF-run aid for the eurozonetoday, as President Dmitry Medvedev entered his last summit with EU leaders split on energy, Syria and Iran. Russia said it is willing to pump up to 20 billion ...

Yedlin: Oil and eurozone problems merge
Calgary Herald
One had to do with the continued uncertainty in the eurozone, which sent the euro south, took gold with it and boosted the US dollar. The other aspect related to the outcome of the meeting held by the Organization of Petroleum Exporting Countries that...

Move to limit scope of eurozone treaty
Financial Times
Despite originally backing a French push to make the intergovernmental pact more ambitious – in pre-summit talks, both Paris and Berlin agreed to new bureaucracy to co-ordinate eurozone fiscal policy, for example – Angela Merkel, German chancellor, ...

Euro Declines On Lingering Eurozone Debt Woes
NASDAQ
Meanwhile, the European Central Bank said in its monthly bulletin today that the economic outlook for Eurozone continues to be subject to particularly high uncertainty and intensified downside risks. Downside risks relate to intensified tensions in the ...

Eurozone nerves boost Swiss franc, gold
Financial Post (blog)
But Michael Leister, eurozone rates strategist at WestLB in Dusseldorf, said demand for peripheral eurozone debt was being affected by the heavy supply coming, especially from Italy. “In regards to Q1 of next year in particular, Italy has so much debt ...

Feldstein: Eurozone Summit Was a Double Failure
NewsMax.com
By Julie Crawshaw Economist and former Reagan adviser Martin Feldstein says the much-vaunted eurozone summit failed on two counts. "It failed to achieve the increased European political integration that was the primary goal of German Chancellor Angela ...

US rules out eurozone bail-out, as recession looms
EUobserver.com
Several senators confirmed after the meeting that Bernanke said he did not "have the intention or the authority" to provide support for the euro crisis. Republican senator Bob Corker of Tennessee said that the central banker had offered this assurance ...

RealClearPolitics - The Euro Zone's Double Failure
By Martin Feldstein, Wall Street Journal
AP Photo. The recent euro-zone summit was a double failure. It failed to achieve the increased European political integration that was the primary goal of German Chancellor Angela Merkel and the other European political leaders. And it failed ...
RealClearPolitics - Homepage

Seth Engel: Eurozone Woes - Is The Union Falling Apart?
By Seth Engel
The original goals of the European Union of were peace, stability, security, economic solidarity and the promotion of humanitarian values. In the all-out effort to retain Moody's AAA status, it is integral to keep those goals ahead of us, not in the ...
The Huffington Post Full Blog Feed

Gov't still undecided about eurozone loan | Prague Monitor
Prague, Dec 14 (CTK) - The Czech coalition government remains undecided on whether to provide a loan in aid to the euro zone via the International Monetary Fund (IMF), Prime Minister Petr Necas (Civic Democrats, ODS) said after a cabinet ...
Prague Monitor

Tax Justice Network: Despite Global Financial Crisis, Illicit Financial ...
By TJN
While US$903 billion marks a drop from the US$1.55 trillion1 that illicitly flowed out of the developing world in 2008, the study finds the decrease is almost entirely attributable to the global financial crisis rather than any governance ...
Tax Justice Network

Euro Zone Manufacturing PMI Hits 2-month High
By Forexpros
Forexpros – Manufacturing activity in the euro zone rose unexpectedly in December, climbing to a two-month high, preliminary data showed on Thursday. In a report, market research group Markit said that its preliminary manufacturing ...
DailyMarkets.com

Euro Crisis Pits Germany and U.S. in Tactical Fight - NYTimes.com
At the heart of the clash over how best to manage the vast debt crisis is the question of how far governments must bend to the power of the markets.
www.nytimes.com/.../euro-crisis-pits-germany-and-us-in-tactic...

Britain's cold shoulder for Europe - FT.com
It forced the eurozone's 17 members, led by Germany and France, to opt instead for an intergovernmental deal that will have to be negotiated outside the EU ...
www.ft.com/.../0da05152-2222-11e1-acdc-00144feabdc0.htm...

Euro crisis: Britain stands alone after David Cameron's historic veto ...
DAVID Cameron has blasted the bully-boys of Europe with a sensational Winston Churchill-style “Up Yours”. The PM vetoed a new treaty and kept Britain out of ...
www.thesun.co.uk/.../Euro-crisis-Britain-stands-alone-after-Da...

Eurozone crisis: Death of the euro need not be a disaster | Mail Online
The idealism that drove the EU's founders has long since sunk beneath a sea of flagrant corruption, political self-interest and financial anarchy, says DOMINIC ...
www.dailymail.co.uk/.../Eurozone-crisis-Death-euro-need-disa...

Myth and Reality About the Euro Crisis - WSJ.com
It's tempting to see the European debt crisis as a simple morality tale. Fiscally responsible northern Europeans will have to pick up the tab for their profligate ...
online.wsj.com/.../SB10001424052970203501304577088221...

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