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

Wednesday, January 4, 2012

2012: beginning of the end for the eurozone

2012 will be the beginning of the end for the eurozone
Daily Mail
That is why so many of them claimed the financial crisis was 'unforeseeable' when all the signs were there. In the case of the Eurozone, many economists do foresee an eventual collapse – but when? The Centre for Economics and Business Research, ...

Daily Mail

WeidmannSays ECB as Lender of Last Resort Would Be 'Wrong'
BusinessWeek
3 (Bloomberg) -- Bundesbank President Jens Weidmann said it would be “profoundly wrong” for the European Central Bank to become a lender of last resort and step up its purchases of government bonds to contain the fiscal crisis. ...

Unemployment data splits the eurozone
Financial Times
Most of the core countries, mainly in northern Europe and in a cluster around Germany, have unemployment rates well below the 10.3 per cent eurozone average – a reflection of their generally healthier economies. By contrast, countries which have either ...

Eurozone leaders warn that a recession is coming. Yup: and whose fault is that?
Telegraph.co.uk (blog)
Well that, more or less, is the attitude which eurozone leaders are taking to their peoples. Listen to the self-pitying tone of their New Year messages. While David Cameron struck an upbeat and patriotic note, the chanting from the palaces and ...

Eurozone Crisis Spreads To France As Car Sales Decline
Huffington Post
That's still far lower than the more troubled European countries, yet France has seen its interest rates rise in tandem with the interest rates of other troubled eurozone countries. While France struggles, Germany remains Europe's safe haven. ...

Eurozone crisis: calendar of key events in January
The Guardian
5: France will kick off a mad dash to financial markets by eurozone governments: Italy alone needs to raise €450bn (£375bn) in the next twelve months. France's first debt auction of the year comes as Paris anxiously awaits a long-expected credit ...

The Guardian

Eurozone faces tough hurdles early in 2012
Green Bay Press Gazette
4 in front of riot police during a protest about the European financial crisis in front of the parliament in Athens. After a turbulent 2011, the 17 countries that use the euro will be quickly confronted in the new year with major hurdles to solving ...

Eurozone crisis: Markets start 2012 in upbeat mood
The Guardian
It's our first eurozone live blog of 2012 (the City was closed yesterday). The early indications are that the FTSE 100 will jump by around 100 points when trading begins (catching up with solid gains on other European markets yesterday). ...

The Guardian

Global Manufacturing Displays Resilience to Euro Crisis: Economy
BusinessWeek
By Jennifer Ryan Jan. 3 (Bloomberg) -- Manufacturing from the UK to India showed improvement in December, suggesting production is weathering strains from Europe's sovereign debt crisis. Purchasing manager indexes for the UK, Switzerland, China, ...

Euro Crisis Brought Pain, No Gains
Wall Street Journal
The euro-zone economy appears likely to slump into recession, with several nations already experiencing severe downturns. European banks, many of them laden with government debt from theeuro zone's weaker periphery, have been asked by regulators to ...

Eurozone crisis drifts out of focus as FTSE climbs 2.3%
The Guardian (blog)
Investors forgot the crisis in the eurozone on the first day of trading in the New Year, as economic data around the globe boosted shares. Manufacturing data in China was ahead of expectations, even if weak, and later in the day it appeared that the US ...

Banks borrow €14.8bn ECB emergency funds
Financial Times
By Ralph Atkins in Frankfurt and Tracy Alloway in London A surge in emergency borrowing from the European Central Bank has highlighted acute financing tensions in the eurozone financial system, even as banks attempt to kick off the new year by selling ...

Euro zone bailout fund names managers for 3 billion euro issue
Reuters
BRUSSELS (Reuters) - The euro zone's rescue fund, the European Financial Stability Facility (EFSF), appointed Credit Suisse, Deutsche Bank and Societe Generale on Tuesday as joint lead managers for its first 3-year, 3 billion euro bond sale. ...

New DVDs | 'Contagion,' 'I Don't Know How She Does It'
The Seattle Times
3, 2012, include "The Guard," "I Don't Know How She Does It," "Contagion" "Don't Be Afraid of the Dark" and "Shark Night 3D." No comments have been posted to this article. Tuesday's new DVD releases are a mix of comedy — "I Don't Know How She Does It" ...

Where Volatility Is, And Contagion Isn't
Wall Street Journal (blog)
That's a relief, because the VIX's recent stay in red-flag territory was the longest since the worst days of the financial crisis. After the tumult of 2011, investors could use a boring stretch. Did the euro-zone summit of Dec. 8-9 do the trick? ...

Eurozone: Why does the crisis linger, deepen and spread?
Wall Street Pit
By Charles Wyplosz Jan 3, 2012, 6:24 AM Author's Website Another year, and the Eurozone crisis lingers on. This column asks why, and discusses what can be done. It proposes a solution that can be achieved without the pain of a new EU treaty. ...

Area Man Nips Future Financial Crisis In The Bud
DealBreaker
It took a relatively obscure former British academic to propagate a theory of the financial crisis that would confirm what many people suspected all along: The “corporate psychopaths” at the helm of our financial institutions are to blame. ...

The eurozone and the US: A tale of two currency zones
Czech Position
They point out that, in aggregate, the eurozone is in no worse an economic position than the US: its public finances are in better shape than the US's, and its overall level of private sector debt is actually lower. Yet for the past two years, ...

Czech Position

In Euro Zone's Crisis, Technocrat in Paris Works Behind the Scenes
New York Times
That, in turn, could renew tensions between France and Germany over how to manage the euro crisis. For every photo op in which Mr. Sarkozy and Chancellor Angela Merkel of Germany trumpet a new step forward, Mr. Fernandez has spent countless hours ...

New York Times

Eurozone break-up almost certain in next decade, CEBR
FT Adviser
By Donia O'Loughlin | Published 09:02 | comments There is a 60 per cent chance that in 2012 the euro will start to break up, with at least one country will leave theeurozone over the coming 12 months, according to think-tank the Centre for Economic...

FT Adviser

Eurozone Crisis: Is Spain in recession?
MindfulMoney
The New Year in the Euro zone has opened in rather an odd manner. Firstly its politician's gave a very downbeat message for 2012 with Chancellor Merkel of Germany saying 'next year will no doubt be more difficult than 2011' This was odd in itself as of ...

Euro crisis won't rock Republic's low tax rate
Belfast Telegraph
By David Elliott The current crisis in the eurozone won't put the Republic's low rate of corporation tax into jeopardy, according to a local tax expert. Eammon Donaghy, from KPMG in Belfast, said that despite recent calls from euro leaders for a ...

The rise and fall of euro zone jobs
Reuters Video
Jan.03 - Two euro zone countries release contrasting jobs figures - unemployment in Spain increases for a fifth month while in Germany a record number of people are in employment. Sonia Legg reports.

Comment: Eurozone in Tatters part of the vanishing Cyprus series
Famagusta Gazette
THE existing turbulent debt crisis in the Eurozone is only the tip of the iceberg before the real storm destabilizes the lives of millions of citizens of the perceived mythological “EU happy family”. Debt-ridden EU countries are confronted with a ...

Famagusta Gazette

Eurozone crisis could cause aviation to lose $8 billion in 2012
Air and Business Travel News
The global airline industry could post collective losses of more than $8 billion this year if the Eurozone crisis fails to be resolved in 2012. The International Air Transport Association said that it was currently predicting that the worldwide ...

Eurozone break-up and uncertainty seen as biggest risks to UK businesses
The Guardian
Britain's leading corporations believe a break-up of the euro poses the biggest risk to their businesses over the next year, according to a survey. A Greek exit or worse, the collapse of the currency union, will hit exports and business confidence, ...

The Guardian

Warning for UK on eurozone crisis
Financial Times
By Sarah O'Connor and Chris Giles The eurozone will scrape through this year in one piece, according to the majority of economists surveyed by the FT, although many said they found it difficult to predict the outcome of a situation that hinged more on ...

Polish finance minister interviewed on "safe scenario" for eurozone crisis
LoanSafe
And in the longer term perspective – if the worst does not happen, meaning if there is no collapse of the euro zone and then likely a collapse of the European Union, I believe that even with zero growth in Western Europe we may develop at a pace of 3-4 ...

Eurozone crisis drifts out of focus as FTSE climbs 2.3% | Business ...
By Alex Hawkes
Economic data from China and the US pushes the blue-chips, as oil price rises 3%
Blogposts | guardian.co.uk

Today on the Eurozone Crisis, Arnold Kling | EconLog | Library of ...
By Arnold Kling
the central bank transmission mechanism has been compromised because expansion or contraction of high-powered money makes no difference to the overall amount of money which is multiplied into the system. Pointer from Tyler Cowen. ...
EconLog: Library of Economics...

Crisis Conditions Grip Eurozone | War Is A Crime .org
By Stephen Lendman
By Stephen Lendman - Posted on 03 January 2012. Crisis Conditions Grip Eurozone - by Stephen Lendman. From inception, the euro system was doomed to fail. In the 1990s, Progressive Radio News Hour regular Bob Chapman predicted it. ...
War Is A Crime .org

Eurozone sentences to ponder — Marginal Revolution
By Tyler Cowen
Put another way, there are not enough creditworthy counterparties in the system to encourage any sort of money multiplication effect at all. That is Izabella Kaminska, there is much more at the link.
Marginal Revolution

XE.com - RPT-Euro zone bailout fund names managers for 3 bln eur ...
The euro zone's rescue fund, the European Financial Stability Facility (EFSF), appointed Credit Suisse, Deutsche Bank and Societe Generale on Tuesday as joint lead managers for its first 3-year, 3 billion euro bond sale.
XE Forex News

CARPE DIEM: Lesson of the Financial Crisis: Too Many Dumb ...
By Mark J. Perry
I am often asked, "doesn't the financial crisis mean we need more regulation?" It's one of those maddening questions, because the answer is "that's the wrong question," which gets you nowhere. For regulation is not "more" or "less," something ...
CARPE DIEM

Germany's Labor Min: No Signs Euro Crisis Will Hurt Labor Mkt ...
BERLIN (MNI) - Germany's Labor Minister Ursula von der Leyen said Tuesday that there are currently no signs that the sovereign debt crisis in the.
ForexLive

Jim Rogers Blog: Eurozone Crisis: They Will Do Something To Make ...
By Admin
Eurozone Crisis: They Will Do Something To Make Us Feel Better. I suspect (German Chancellor Angela Merkel) and that crowd will do something to make us feel better. - earlier today on CNBC Jim Rogers is an author, financial commentator ...
Jim Rogers Blog

We have an EU crisis, not a eurozone crisis. | The Slog
By John Ward
We have an EU crisis, not a eurozone crisis. The use of 'eurozone crisis' as a phrase is designed to hide the reality of European Union implosion. Eurocrats are a funny lot at the best of times. Last week, they were telling us that the euro was ...
The Slog

The euro crisis: Claim theory (longish and wonkish) | The Economist
LATELY, one has been able to detect in the murmurs of the economics commentariat the faint hope that Europe may have solved its problems. On the heels of nearly €500 billion in initial lending through the European Central Bank's new ...
Free exchange

Prison Planet.com » The Bluffing Resumes: Greece Warns Will ...
By admin
First Morgan Stanley issued the first market forecast of 2012 before the market has even opened, and now it is Greece's turn to threaten fire and brimstone (aka to leave the Eurozone, but according to UBS and everyone else in the status quo ...
Prison Planet.com

SteveLendmanBlog: Crisis Conditions Grip Eurozone
By Steve Lendman
More recently, he said troubled Eurozone countries can't cut their way to recovery. Austerity is a hairbrained disastrous policy. So is the "malignant lunacy of monetary union," combining 17 dissimilar countries under one monetary/fiscal system ...
SteveLendmanBlog

The Coming Crisis: Eurozone is closer to break-up, warns Standard ...
By Lynsey
The chief executive of Standard Chartered has warned that there is an increasing likelihood of a country falling out of the eurozone because of the inability of politicians to resolve the crisis. The head of one of Britain's "Big Five" banks warned ...
The Coming Crisis

PMI data underline euro-zone recession fears - Economic Report ...
Manufacturing activity across the 17-nation euro zone shrinks for a fifth month in December, underlining fears that the sector could slip into recession as the ...
www.marketwatch.com/.../pmi-data-underline-euro-zone-reces...

CDC - Blogs - Public Health Matters Blog – Real-life Contagion: Part 2
CDC - Blogs - Public Health Matters Blog – Real-life Contagion: Part 2 - Sharing our stories on preparing for and responding to public health events.
blogs.cdc.gov/publichealthmatters/.../real-life-contagion-part-2...

Wages and productivity in the Eurozone | vox - Research-based ...
Eurozone members that face the consequences of severe asymmetric shocks can, in the absence of labour mobility, accommodate by means of fiscal transfers. ...
www.voxeu.org/index.php?q=node/7486

Mueller: How the Euro Crisis will End
What's Behind the Euro Crisis and How Will It End? by Antony P. Mueller12/30/ 2011 The true nature of the current crisis is not that of a currency, be it the euro or the ...
blog.mises.org/20214/mueller-how-the-euro-crisis-will-end/

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