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

Tuesday, December 20, 2011

Eurozone IMF plan a "no go?"

Euro zone IMF lending plan in danger as UK declines
Reuters
In a three-hour conference call, ministers also assessed plans for tighter euro zone fiscal rules - a new 'fiscal compact' - that policymakers hope will insulate the 17-country currency zone against a repeat of the two-year debt crisis. ...

Kass: Tebow Time for the Eurozone?
TheStreet.com
By Doug Kass 12/19/11 - 11:00 AM EST After Europe's leaders and central bankers misdiagnosed the magnitude of the continent's debt crisis and after responding in an ineffectual and almost effete manner, the great unraveling of the eurozone is on our ...

Short View: Potential bill for eurozone break-up
Financial Times
By Tracy Alloway For an idea of what's happening within Europe's banking system - and the havoceurozone disintegration could wreak - it is useful to go straight to its technical heart. That would be Target2, Europe's electronic payment system platform ...

GLOBAL MARKETS-Euro inches down as euro zone worries linger
Reuters
By Richard Hubbard LONDON, Dec 19 (Reuters) - Fears of sovereign downgrades over the euro zone debt crisis pressured the euro on Monday, while news of the death of North Korean leader Kim Jong-il fed fears of regional instability in Asia. ...

Eurozone IMF plan in danger after UK declines aid
Financial Post
Treasury sources said Britain had made it clear on the call it would not participate in the plan to increase IMF resources by up to 200 billion euros, with 150 billion of coming from eurozone central banks. By Jan Strupczewski and Matt Falloon ...

Financial Post

Euro-Zone Ministers Agree To Commit EUR150 Bln In Loans To IMF
Wall Street Journal (India)
By Matthew Dalton and Matina Stevis BRUSSELS (Dow Jones)--Euro-zone finance ministers Monday confirmed plans to contribute EUR150 billion in additional bilateral loans to the International Monetary Fund as part of a move to boost its resources for ...

The eurozone will not survive another year, warns Boris
The Independent
Boris Johnson became the most senior British political figure to forecast that the eurozone would not survive the economic crisis intact as he predicted yesterday that Greece would soon quit the single currency. The Tory Mayor of London joked that the ...

TSX Flat Amid Euro Zone Anxiety; RuggedCom Soars On Offer - Canadian Commentary
NASDAQ
The euro zone finance ministers are set to hold a conference call later today to discuss on additional financial aid to mitigate the impact of the debt crisis. Fitch Ratings on Friday cut its outlook on France and said it might downgrade the ratings of ...

Euro-Zone Governments to Provide Extra EU150 Billion to IMF
BusinessWeek
By Stephanie Bodoni and James G. Neuger Dec. 19 (Bloomberg) -- Euro-area governments met a target for boosting their anti-crisis warchest with a pledge to provide 150 billion euros ($195 billion) to the International Monetary Fund. ...

Strauss-Kahn: eurozone has just weeks to sort out problems
euronews
http://www.euronews.net/ The former head of the International Monetary Fund, Dominique Strauss-Kahn, has warned that the eurozone is a "raft that will sink" unless the region's leaders come up with a solution "within weeks". He said one problem is the ...

Euro-Zone Bond Markets Nervous After Rating Firm Actions
Wall Street Journal
By NICK CAWLEY LONDON—Non-core euro-zone government bonds were little changed Monday, with the exception of Belgium, but market participants were keeping a close watch on any possible further moves by rating firms after a flurry of rating actions ...

Regulators in denial over legalities of EU treaty
Euromoney Magazine
Lawyers have told Euromoney that despite most of the national leaders from the European Union (EU) having established a working treaty to save the eurozone and the area's currency, politicians and regulators are not only not equipped to deal with ...

Eurozone not trying to weaken City of London: Germany
Expatica Germany
German Foreign Minister Guido Westerwelle insisted Monday that the eurozone was not intent on weakening the City of London financial centre. Westerwelle said that the City -- Europe's biggest financial hub -- must remain strong for the good of the ...

Financial crisis pushes Greek suicide rate to new highs
Sydney Morning Herald
Before the financial crisis first began to bite three years ago, Greece had the lowest suicide rate in Europe at 2.8 per 100000 inhabitants. It now has almost double that number, the highest on the continent, despite the stigma in a nation where the ...

UK treasury chief announces plans to restructure banks to reduce risks of ...
Washington Post
LONDON — The British government says it will legislate sweeping changes in banking regulation that are aimed at protecting the economy from excessive risk but could prove costly for the country's major banks. Treasury chief George Osborne, ...

Eurozone Finance Ministers Working on €150 Contribution to IMF
Action Forex
In today's session we're looking at some follow through to the EU summit from December 8th in thateuro zone finance ministers are coming together to try and finalize their newest contribution to the IMF which will be used to help facilitate any type ...

FEATURE-Markets may play jilted lover in euro zone drama
Reuters
By Ethan Bilby LONDON Dec 19 (Reuters) - The euro zone debt crisis may be as much about the heart as it is about the head -- like a jilted lover, markets are just finding it hard to trust again. Behavioural economists say financial bubbles can create ...

Vaclav Havel Explains Why The Eurozone Doesn't Work
Slate Magazine (blog)
By Matthew Yglesias Portraits of former Czech President Vaclav Havel are seen on December 19, 2011 among candles displayed at Narodni Trida memorial commemorating the Velvet Revolution in Prague, where hundreds of people came to pay tribute. ...

Slate Magazine (blog)

Euro crisis fears slash BOP surplus by 21% despite Q3 42% gain
GMA News
The country's balance of payments (BOP) surplus from January to November this year was $2.789 billion smaller than the $13.082 billion posted same time frame in 2010, top Bangko Sentral ng Pilipinas (BSP) officials said on Monday. ...

Markets Unprepared for Euro Zone Default, JPMorgan's Staley Says
Bloomberg
(Source: Bloomberg) The US and European financial markets aren't equipped to handle a default by Greece or other countries in the euro zone, said Jes Staley, chief executive officer of JPMorgan Chase & Co. (JPM)'s investment-banking unit. ...

Bloomberg

Gold and Silver Remain in Red on Euro Zone Worries
Beacon Equity Research
Gold and silver prices have remained in red in mid-day trading as worries about the euro zone debt crisis continue to weigh down investors' sentiment. At last check, spot gold was trading 0.32% lower at $1593.70 an ounce. Earlier in the day, ...

Euro-zone current account deficit widens on investor flight
FXstreet.com
"The euro zone swung to a current-account deficit in October as investors aggressively ditched euro-zone bonds and other assets, European Central Bank data showed Monday. The euro zone'sOctober deficit was EUR7.5 billion after accounting for seasonal ...

EU urges world to aid eurozone via IMF
Ninemsn
Europe urged G20 nations and other big contributors around the world Monday to come to the aid ofeurozone bailout efforts through the IMF, after British resistance saw finance ministers miss a self-imposed EU target. Eurozone chief Jean-Claude Juncker ...

Singapore Stocks- May fall on euro zone fears; SMRT in focus
Reuters
SINGAPORE, Dec 19 (Reuters) - Singapore shares may open lower on Monday, as fears over theeuro zone debt crisis grew after Fitch Ratings warned of possible downgrades for seven European nations last week. Singapore public transport operator SMRT Corp ...

Longer End Prices Up on Stocks, Euro Zone, North Korea
CNBC.com
Longer-dated Treasury securities rose Monday as a stock market downturn and worries about North Korea's political situation and the euro zone debt crisis revived the bid for safe-haven US debt. The Federal Reserve's [cnbc explains] purchase of $4.898 ...

CNBC.com

Relax Keynesianistas, euro zone is not reducing its debt
Globe and Mail
Constantin Gurdgiev is head of research with St. Columbanus IA and lecturer in finance at Trinity College, Dublin I've been saying for a while now that the Euro zone is heading for a recession in Q4 2011-Q1 2012. And for a number of good reasons, ...

Globe and Mail

IMF, Eurozone, playing pass-the-parcel on debt woes: BGC
Moneycontrol.com
A: to be honest, given the amount of debt that eurozone governments need to refinance next year and given the outlook for economic growth in 2012, we need to get used to credit rating agencies expressing their concerns about a number of European ...

Emerging Market Currencies And Debt Down On Euro-Zone Concerns
Wall Street Journal
Investors and market participants still remain concerned about the euro crisis, said Viktor Szabo, a portfolio manager at Aberdeen Asset Management in London. While European leaders were able to agree on a EUR150 billion loan to the International ...

The euro zone impacts global economic growth, according to Desjardins Group ...
DigitalJournal.com (press release)
19, 2011 /CNW Telbec/ - According to the Desjardins Group Economic Studies team, the sovereign debt crisis in the euro zone worsened until it eclipsed all other large financial, economic and political problems elsewhere in the world. ...

Eurozone | Banking Tax | Occupy Wall Street | Harkin | DeFazio ...
By Michael Volpe
Eurozone proposes global bank tax | Move embraced by Occupy, Dems, slammed by free market analysts.
The Daily Caller

Euro Zone Solution 'Technically and Politically Beyond Reach': Fitch
Saying that a comprehensive solution to the euro zone debt crisis was "technically and politically beyond reach," Fitch Ratings on Friday advocated deeper involvement by the European Central Bank (ECB), something that Germany has been ...
AdvisorOne

LabourList | The Eurozone summit: a fissure in the UK's relationship ...
By Jon
LabourList | The Eurozone summit: a fissure in the UK's relationship with the EU. Tweet · TheEurozone summit: a fissure in the UK's relationship with the EU. Email This Post · Print This Post. Posted 19.12.2011 in EUPolitics. This post's ...
Jon Worth

Copper Futures Drop On Euro Zone Downgrade Warnings
By Forexpros
Concerns over mass credit rating downgrades across the euro zone lingered after Fitch Ratings put six euro zone nations, including France, Spain and Italy on watch for downgrades on Friday, saying a “comprehensive solution” to the region's ...
DailyMarkets.com

Fuel Fix » ECB warns of global contagion risks
By FT.com - Energy
Posted on December 19, 2011 at 1:25 pm by FT.com - Energy in. 0. |. Tweet. Share share E-mail. The eurozone faces a serious risk of its debt crisis engulfing further member states, the European Central Bank has warned. 0. |. Tweet ...
Fuel Fix

XE.com - WRAPUP 3-Eurozone to pursue IMF lending plan, Draghi ...
European finance ministers will pursue plans on Monday to enhance the IMF's arsenal and press on with a drive for tighter fiscal rules in an attempt to assuage doubts they can overcome their sovereign debt crisis.
XE Forex News

Christina Romer: A Financial Crisis Needn't Be a Noose
By The Huffington Post News Editors
RECESSIONS after financial crises are long and severe, and the subsequent recoveries are protracted. That is the bold conclusion of “This Time Is Different,” the book by Carmen Reinhart and Kenneth Rogoff, and it has become conventional ...
The Huffington Post | Full News Feed

A-Infos (en) Ireland, wsm*.ie: Eurozone farce descends into ...
By a-infos-en@ainfos.ca
as stock villain David Cameron skulked behind them waving his “veto”, Europe's leaders announced to the world last week that, this time, they had definitely fixed the crisis in the Eurozone. “Oh, no you haven't!” jibed the media, “Oh yes we ...
A-infos en

ECB Constancio says Eurozone breakup unthinkable : Forex News ...
By Greg Michalowski
Higher indication of credit crunch; No plans to increase ECB capital further; Public sector involvement should remain exception; Demand for ECB 3 yr loans will be significant. Be Sociable, Share! Categories: Forex Trading |. Be Sociable ...
Forex News and Commentary by FXDD

Shipping confidence picks up despite eurozone fears (Scandinavian ...
Overall confidence levels and the likelihood of major new investments in the shipping industry in the next 12 months picked up marginally in.
Scandinavian Oil-Gas Magazine - News

Opinions and News on the Eurozone Crisis, No. - American Future
By Marc Schulman
The recently-announced three-year refinancing operations will “not necessarily” give banks an incentive to buy the sovereign debt of the financially-troubled eurozone governments. The objective of the operations is “to ease the funding ...
AMERICAN FUTURE

Emotional finance: Markets play jilted lover as eurozone panic ...
Behavioural economists say financial bubbles can create an emotional high that turns into an irrationally deep low when the bubble pops. And this time markets are finding it hard to trust again.
Firstpost

Markets may play jilted lover in euro zone drama | Stock Market ...
By Editor - Business News
By Ethan Bilby LONDON | Mon Dec 19, 2011 4:48am EST LONDON (Reuters) - The euro zone debt crisis may be as.
Rocket News

Fitch: Broad euro zone deal 'beyond reach' - Business - World ...
Credit rating agency Fitch told the euro zone on Friday it thinks a comprehensive solution to the bloc's debt crisis is beyond reach and put some of the bloc's ...
www.msnbc.msn.com/.../fitch-says-comprehensive-euro-zone-...

Eurozone crisis live: Markets jitter ahead of latest euro crisis meeting ...
European finance ministers to thrash out details of eurozone rescue, with Britain called on to contribute £25bn of loans • Markets under pressure following Kim ...
www.guardian.co.uk/global/2011/dec/19/eurozone-crisis-live

Reporting the financial crisis - where did we go wrong? | Media ...
Roy Greenslade: a survey suggests that the media failed to inform the public, but that's far from the whole story.
www.guardian.co.uk/.../financial-crisis-national-newspapers

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