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

Thursday, January 12, 2012

ECB must do more to avert 'cataclysmic' euro collapse: Fitch

ECB must do more to avert 'cataclysmic' euro collapse:Fitch
Reuters
* Fitch says ECB should buy more euro zone debt * Fitch warns euro collapse would be cataclysmic * Collapse likely if Italy falls, ECB doesn't boost support By Marc Jones FRANKFURT, Jan 11 (Reuters) - The European Central Bank should ramp up its buying ...

Financial crisis lays seeds of 'dystopian future'
The Associated Press
LONDON (AP) — The World Economic Forum warned Wednesday that the financial crisis that has gripped the global economy for the past few years is fueling resentment that could lay the seeds for a rising tide of protectionism, nationalism and social ...

German economy declined in 4th quarter, government says
Washington Post
Broader uncertainty over the euro zone's situation is also dampening investment. “The German economic situation will not suddenly improve this year,” said Klaus Deutsch, an economist at Deutsche Bank Research. “The sheer data don't point to a very nice ...

Worst ahead for euro zone, but it will survive - Reuters poll
Reuters
By Jonathan Cable | LONDON (Reuters) - The worst is yet to come in the euro zone's debt crisis but the currency union will survive 2012 intact, according to a Reuters poll of economists who say France will probably lose its top-notch credit rating. ...

German financials blast euro zone transaction tax
Reuters UK
FRANKFURT (Reuters) - German institutions and banks condemned efforts by Germany and France to push ahead with a financial transaction tax in the euro zonewithout including leading centres such as London. German Chancellor Angela Merkel and French ...

Reuters UK

Eurozone deficit limits flexible under draft
Financial Times
A new treaty to impose fiscal discipline on eurozone countries would allow governments to ignore tough budget deficit limits in the case of an “unusual event” or during a “severe economic downturn”, according to a draft of the pact obtained by the ...

Treasurys Boosted By Euro Zone Concerns; 10-Year Sale Looms
Wall Street Journal
By Min Zeng NEW YORK (Dow Jones)--Treasury bonds were boosted Wednesday by investors seeking safety from the uncertainty surrounding the euro zone's sovereign-debt crisis. The bond market's strength was muffled ahead of two auctions in longer-dated ...

Eurozone crisis live: German chancellor and Italian PM to meet
The Guardian (blog)
Trade is nevertheless unlikely to contribute strongly to UK economic growth in 2012, which looks set to be a challenging year as signs of improved demand from countries such as the US and China are likely to be countered by weak demand in theeurozone. ...

The Guardian (blog)

The Call: The eurozone stumbles along
Foreign Policy
Eurozone- The Muddle is the Risk. In Europe, it's not the breakup of the eurozone we need to fear in 2012 but a reactive, incremental approach to crisis management that will fail to satisfy investors and could push events beyond the control of ...

Foreign Policy

Euro zone set for short recession, say agencies
Sydney Morning Herald
The eurozone will tumble into a brief recession for two quarters at the end of 2011 and early 2012, according to forecasts published jointly on Wednesday by leading French, German and Italian economic institutes. France's Insee, Germany's Ifo and ...

IMF chief revisits eurozone problems
euronews
http://www.euronews.net/ Christine Largarde's European tour this week comes as the eurozonecrisis heats up again and with the International Monetary Fund crucial to saving the increasingly fragile currency bloc. European leaders are having trouble ...

Oil Falls As Euro Zone Worries Offset Iran Threat: Price Will Rise In 2012 ...
San Francisco Chronicle (press release)
The price of oil will rise in 2012, according to analysts at Absolute Wealth, an authority site aimed at providing expert advice and news to the investment community and those interested in financial issues. The price of gas is, of course, connected to ...

US Stock Futures Slip On Concerns Over Slowing Euro-Zone Economy
Wall Street Journal
Adding to investor jitters, the European Central Bank said its overnight deposit facility reached another record Wednesday, suggesting euro-zone banks prefer to park cash safely at the ECB than lend to other banks. Meanwhile, an auction of five-year ...

EU Rehn: Euro-Zone Crisis Far From Over
NASDAQ
LONDON -- The euro zone still has some way to go before it can bring its fiscal crisis to an end and return to sustained growth, but it is on the right track, European Commissioner for Economic and Monetary Affairs Olli Rehn said in an interview ...

A New Generation Tackles the Euro Crisis
Wall Street Journal
By BRIAN BLACKSTONE FRANKFURT—European Central Bank President Mario Draghi will convene the ECB's first meeting of 2012 on Thursday, and lead a debate on monetary policy and theeuro zone's debt crisis with a group of colleagues young enough to be his ...

Euro zone: soft in the core
Globe and Mail
It's (un)official: the sovereign debt crisis is doing serious damage to the euro zoneeconomy. Tellingly, the most damning bit of evidence comes from Germany. Preliminary data on Wednesday showed that the German economy probably shrank by 0.25 per cent ...

Globe and Mail

Energy stocks lead FTSE lower on euro zone fears
Reuters
... Tricia Wright LONDON, Jan 11 (Reuters) - Britain's top shares fell on Wednesday, pressured by integrated oil stocks as concern over the euro zone prompted fears about the demand outlook, ahead of Spanish and Italian debt auctions later in the week. ...

Tokyo Shares End Up As Euro-Zone Credit Worries Ease A Tad
Wall Street Journal
By Brad Frischkorn Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--Tokyo stocks staged a modest rise Wednesday as some relief over euro-zone credit worries outweighed concerns about the strong yen, helping Nomura Holdings and other financial shares post ...

Eurozone may break-up in 3-5 years, US growth to be anaemic: Nouriel Roubini
Economic Times
In an interview with ET Now, Nouriel Roubini, Chairman, Roubini Global Economics, talks about the Eurozone crisis and shares his outlook for the region. Excerpts: Will 2012 be the year in which the euro unravels and the union comes to an end? ...

Forex- Dollar Gains On Euro Zone Worries
Daily Markets
By Forexpros on January 11, 2012 | More Posts By Forexpros | Author's Website Forexpros – The US dollar added to gains against its major counterparts as renewed euro zone debt worries sent investors into the relative safety of the greenback. ...

Eurozone crisis means Bank set to ignore 'more QE' call
WalesOnline
The British Chambers of Commerce said a further round of quantitative easing (QE) programme would boost confidence and ease concerns around the fate of the eurozone. Despite the BCC's message, most analysts expect the Bank's Monetary Policy Committee ...

Euro Crisis Will Hurt Flow Of Funds to Indonesia: Bank
Jakarta Globe
The debt crisis in the euro zone will affect foreign currency supply in Indonesia, which will, in turn, hurt investment by the private sector in the archipelago, Fauzi Ichsan, chief economist of Standard Chartered in Jakarta, said on Wednesday. ...

Jakarta Globe

Icap prepares for total eurozone break-up
Financial Times
By Alice Ross The world's largest foreign exchange platform has prepared for the return of every original eurozone currency in a worst-case scenario should the single currency union break up. Icap, the broker, said it had run tests on its EBS trading ...

Eurozone growth less than expected in third-quarter
Economic Times
BRUSSELS: The European Union revised downwards on Wednesday its figure for eurozone growth over the third quarter of last year, to 0.1 percent. The previous figure given was 0.2 percent and detailed EU data showed that a drop on France's previously ...

The Next Phase of the Euro-Zone Crisis
Wall Street Journal (blog)
By Mark Gongloff Barry Eichengreen has an interesting new take on the euro-zone crisis — if you care any more! — up at Project Syndicate. Essentially, he argues that Europe is suffering from two vicious cycles. The first was a liquidity crunch, ...

Euro Weakens On Lingering Eurozone Debt Concerns
NASDAQ
(RTTNews.com) - The euro fell against most major currencies during the Asian session on Wednesday amid persistent concerns over the eurozone debt crisis. Investors also remained cautious ahead of this week's European Central Bank monetary policy ...

Sant's book on euro crisis launched
Malta Independent Online
by Elaine Attard Malta and the euro, the latest publication penned by Labour former Prime Minister Alfred Sant, aims to give readers a simplified chronological and analytical analysis of how the euro currency developed and the eurozone went into crisis ...

Japan, US to seek common ground over Iran, euro crisis
Business Standard
PTI / Tokyo January 11, 2012, 16:14 IST Japan and the US will seek common ground for co-operation on such issues as sanctions on Iran over its nuclear ambitions as well as the euro zone's sovereign debt crisis, with US Treasury Secretary Timothy ...

Forex – EUR/USD Extends Losses After Euro Zone GDP Data
By Forexpros
Forexpros – The euro extended losses against the U.S. dollar on Wednesday, to trade close to a 16-month low after a report showed that the euro zone's economy grew less than initially expected in third quarter of 2011. EUR/USD hit 1.2682 ...
DailyMarkets.com

Rays of light as Merkel seeks eurozone fixes - The Local
Ratings agency Fitch offered a ray of light for the eurozone Tuesday as German Chancellor Angela Merkel met IMF chief Christine Lagarde on Greece's struggle to cut its debt, amid tentative signs of progress.
The Local - Germany's news in English

Financial crisis lays seeds of 'dystopian future' | The Associated ...
By The Associated Press
The World Economic Forum is warning that the financial crisis that has gripped the global economy for the past few years is fueling resentment that could lay the seeds for a rising tide of protectionism, nationalism and protests.
Examiner AP RSS

Divide in Europe: Germany Profits From Euro Crisis as Neighbors ...
By Peter Schweizer
It has become a rule of the euro crisis: While a number of euro-zone countries suffer, Germany profits. The crisis may slow economic growth in Germany, but there are also a raft of crisis-related mechanisms that help the country profit at the ...
Big Peace

NewsDaily: Worst ahead for euro zone, but it will survive: Reuters poll
By Jonathan Cable
The worst is yet to come in the euro zone's debt crisis but the currency union will survive 2012 intact, according to a Reuters poll of economists who say France will probably lose its top-notch credit rating.
NewsDaily: Business Headlines

Eurozone – French Farce Or Greek Tragedy? – cropper - My ...
By cropper
Eurozone – French Farce Or Greek Tragedy? By cropper. I wouldn't put money on Greece exiting the Euro. In fact it seems highly likely that desperate EU politicians will give Greece a clean bill of health and the new government a pat on the ...
cropper

Olli Rehn: idea of mutualizing eurozone debt remains controversial ...
By The Baltic Course | Baltic States news & analytics
The idea of mutualizing eurozone debt remains as controversial as ever but economic affairs commissioner Olli Rehn has spoken out in favor of a halfway house solution, writes LETA/ELTA, referring to EU Observer.
The Baltics Today

Has Staying Out of the Eurozone Helped Turkey and Poland's ...
By Benzinga
Within the last few months, from an economic standpoint, it seems that a two-speed world is emerging. On the one hand, there are the euro zone.
eToro Blog

Euro zone final Q3 GDP revised down unexpectedly By Forexpros
By Forexpros
Euro zone final Q3 GDP revised down unexpectedly.
Forex Pros RSS News Feed | Forex News

In the midst of the eurozone meltdown, a new crisis has gone ...
FORTUNE -- Warren Buffett once famously described credit default swaps as \
GoldSilver.com

XE.com - HIGHLIGHTS-Merkel and Italy's Monti discuss euro zone
Following are highlights of a news conference on Wednesday by German Chancellor Angela Merkel and Italian Prime Minister Mario Monti following their talks in Berlin on the euro zone debt crisis.
XE Forex News

EU's Van Rompuy: Euro zone entering a phase of stagnation ...
Euro exchange rate is favorable for exports ECB open to new developments, non-standard measures.
ForexLive

French, German leaders meet on eurozone future | Marketplace from ...
Nicholas Sarkozy and Angela Merkel are speaking in Berlin today, trying to hash out the details of a master plan to save the euro. But it appears the leaders are ...
www.marketplace.org/.../french-german-leaders-meet-eurozon...

Analysis: For euro zone, the heat is on again - Yahoo! News
From Yahoo! News: BERLIN (Reuters) - The euro zone crisis seemed to vanish from the headlines for a brief moment as 2011 ticked over into 2012, but it is ...
news.yahoo.com/analysis-euro-zone-heat-again-061036151.ht...

Times Higher Education - Bank warns sector of default contagion risk
A number of universities are at risk of a financial contagion crisis similar to that in the eurozone, banking experts have suggested. If an institution were to fail in ...
www.timeshighereducation.co.uk/story.asp?storycode=418589

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