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

Tuesday, January 31, 2012

Euro crisis hangs over latest EU summit

Euro crisis hangs over latest EU summit
BBC News
The eurozone crisis is set to dominate an EU summit today, with an emphasis on growth and "smart" budget discipline. The EU has more than 23 million unemployed people and there are fears that wide-ranging budget cuts will harm enterprise and training.

BBC News

Eurozone crisis: live blog
Financial Times (blog)
Welcome back to the FT's rolling coverage of the eurozone crisis. By John Aglionby and Tom Burgis in London with contributions from correspondents around the world. All times are GMT. Today's main event is the European Union leaders' summit in Brussels ...

Oil falls as euro-zone woes raise demand concerns
MarketWatch
By Claudia Assis and V. Phani Kumar, MarketWatch SAN FRANCISCO (MarketWatch) — Crude-oil futures declined Monday as lingering concerns about the euro zone made investors called global oil demand into question and as the US dollar traded higher.

Davos Banks on Euro-Zone Survival
Wall Street Journal (blog)
While discussion continues about a possible breakup of the euro zone, few now expect this to happen—at least not yet. Bankers believe many people are still underestimating what a game-changer the European Central Bank's offer of unlimited three-year ...

Wall Street Journal (blog)

Treasurys Rise on Euro-Zone Fears
Wall Street Journal
By CYNTHIA LIN NEW YORK—Treasurys gained, picking up right where they left off last week as a broad range of euro-zone anxieties take center stage again. Investors are getting edgy with Greece, whose government still hasn't penned an agreement with ...

Portugal Will Need Euro-Zone Help to Prove Market Wrong
Wall Street Journal (blog)
But Portugal isn't necessarily doomed to a debt restructuring—as long as the euro zone has learned from Greece and steps in to fill the gap. The immediate catalyst for the Portuguese bond implosion was Standard & Poor's downgrade to "junk.

Madrid 2020: Financial crisis won't affect bid
ESPN
AP MADRID -- Spain's financial crisis should not affect Madrid's third consecutive Olympic bid and hosting the games could help the country recover from the recession, leaders of the 2020 candidacy said Monday. Madrid unveiled a colorful bid logo, ...

Why the Eurozone Can't Just Muddle Through
TIME
As Time International Editor Jim Frederick reported on Friday, one of the key themes at the World Economic Forum in Davos last week was the growing belief that “theEurozone may actually be starting to heal itself. The Eurozone crisis will continue to...

TIME

Credit ratings of euro zone countries
Washington Post
... or relevant are displayed in Top Comments, as are comments by users with these badges: . Replies to those posts appear here, as well as posts by staff writers. All comments are posted in the All Comments tab. Credit ratins of euro zone countries.

A Renewed Focus on a Financial Crisis Crackdown
New York Times
The question is, is this just window dressing, or will the latest focus on pursuing fraud during the financial crisis actually yield new cases? Although skepticism about this new effort has been expressed, there is at least a chance we will see the ...

New York Times

TSX Dips On Euro Zone Anxiety; RuggedCom Jumps On Offer - Canadian Commentary
NASDAQ
(RTTNews.com) - Canadian stocks were lingering in negative territory Monday morning as traders were concerned over the euro zone debt situation after Greece and its creditors failed to come up with an agreement on a debt swap.

Eurozone Economic Sentiment Strengthens In January
NASDAQ
(RTTNews.com) - Eurozone economic confidence improved in January, marking the first increase since March 2011, driven largely by rising confidence in services, a survey carried out by the European Commission showed Monday.

William Hague: we will take legal action if eurozone tries to use European ...
Telegraph.co.uk
William Hague, the Foreign Secretary, has warned that Britain will take legal action ifeurozone countries attempt to use European institutions against the interests of the UK. In December the Prime Minister vetoed a new European treaty which would see ...

Telegraph.co.uk

Gold Closes Lower On Eurozone Worries, Strong Dollar
NASDAQ
The drop by the price of gold came as the US dollar strengthened against most currencies amideurozone worries and France slashing its economic growth forecast for 2012. Meanwhile, the euro was trading at $1.3117 on Monday, down from $1.3216 in late ...

EUROZONE: All the latest news and views from Europe's big leagues
Daily Mail (blog)
Mario Gomez and Arjen Robben scored as Bayern Munich preserved their place at the top of the Bundesliga with a hard-fought 2-0 win over Wolfsburg. Bayern had to wait an hour before Gomez made the breakthrough against a well-organised Wolfsburg side at ...

EU Leaders Hold Fiscal Talks
Wall Street Journal
By MATINA STEVIS and LAURENCE NORMAN WSJ's Stephen Fidler reportsEurozone leaders are proposing stiff rules and penalties at their summit in Brussels to prevent countries from becoming economically unstable. AP Photo/Petros Giannakouris ...

Wall Street Journal

'Nothing to fear' on euro zone referendum - Kenny
Irish Times
European Union leaders have gathered for their first summit of the year as a deteriorating economy and struggle to complete a Greek debt write-off risk sidetracking efforts to stamp out the financial crisis. European leaders have sparred with Greece ...

Irish Times

Eurozone crisis, auto sales, and our favourite: house price update
Vancouver Sun (blog)
There is so much economic news today it is hard to know what to write about. First there is the European leaders summit in Brussels (get live updates at the Guardian). Scotia Economics has its auto sales report out– though no major news for British ...

Non-eurozone countries should be at table of talks: MEP
Focus News
The non-eurozone countries should be at the table of talks, Andrey Kovachev, deputy chairman of the Committee on Foreign Affairs in the European Parliament, told FOCUS Radio on the occasion of the European Council summit in Brussels and Stability Pact.

Finland ETF Chained by Euro Crisis
TheStreet.com
By Roger Nusbaum 01/30/12 - 07:43 AM EST NEW YORK (TheStreet) -- Throughout the financial crisis the Scandinavian countries have proven out to be fiscally very sound with low debt-to-GDP ratios and much sounder banking systems due to having had their ...

ECB's Nowotny Sees Stagnant Euro-Zone Economy
NASDAQ
BERLIN -- The euro-zone faces economic stagnation in 2012 and perhaps a short recession, but the European Central Bank's three-year loans helped avert a massive credit crunch, ECB governing council member Ewald Nowotny said Monday.

Financial crisis in Cyprus is being successfully tackled, says Ministry
Cyprus Mail
Finance Minister Kikis Kazamias today said the government is successfully tackling the financial crisis facing the Cypriot economy. At an ceremony in Athens for Cypriot academic achievers, Kazamias highlighted the climate of political consensus and ...

Fitch downgrades five eurozone countries
Money Marketing
Credit ratings agency Fitch has downgraded the sovereign ratings of five eurozonecountries, including Italy, Spain and Belgium. The downgrades follow earlier action in December 2011, when the agency placed six eurozone countries on “Rating Watch ...

Money Marketing

Philips Posts Loss As Eurozone Crisis Bites
Sky News
Europe's largest electronics maker has reported a sharp fall in profits, becoming the latest global company to be hit by weaker European economies. Philips Electronics made a loss of 160m euros (£134m) in the last quarter of 2011, compared to profits ...

Eurozone economic sentiment rises
Independent Online
The European Commission's closely watched Economic Sentiment Indicator (ESI) for the 17-member eurozone climbed from 92.8 in December to 93.4 in January, a first increase since March 2011. Analysts had expected that the indicator would post a bigger ...

Independent Online

FTSE 100 drops on euro zone jitters, Dow Jones and S&P 500 seen lower - UPDATE
Proactive Investors UK
Likewise, shares in RBS (LON:RBS, down 2.7pct at 26.98p) and Lloyds (LON:LLOY, down 3.5pct at 31.25p) were out of favour thanks to concerns over to concerns about the part-nationalised banks' exposure to the euro zone debt crisis.

Proactive Investors UK

Greece needs to dump euro "shackles": Commerzbank
Reuters
| FRANKFURT (Reuters) - Greece must surrender the "shackles" of the euro in order to survive if it does not want to constantly ask for a handout from euro zone governments, the supervisory board chairman of Commerzbank said late on Monday.

BANKERS FEAR EURO CRISIS WILL START WORLD RECESSION
Express.co.uk
By Peter Cunliffe THERE is a high risk that turmoil in the eurozone could trigger a global recession and a new banking crisis, warns an influential international banking survey. The annual Banking Banana Skins report shows that anxiety about the ...

Jim Rogers: No One Leaves the Euro Zone This Year
CNBC.com
No country will exit the euro zone this year but a solution to the debt crisis remains elusive, Jim Rogers, CEO and Chairman at Rogers Holdings, told CNBC Monday. "I don't think we'll see anybody will leave the euro zone in 2012, there are 40 elections...

CNBC.com

Eurozone crisis: live blog | The World | International affairs blog from ...
By John Aglionby
Gideon Rachman and his FT colleagues debate international affairs.
The World

Fuel Fix » Live blog: Eurozone crisis
By FT.com - Energy
Live blog: Eurozone crisis.
Fuel Fix

Brad DeLong: The Eurocrisis: Duncan Black is HSRILL!!
By J. Bradford DeLong
Eschaton: >Eschaton: Thanks, Idiots For all you have done. >>BRUSSELS — Bowing to mounting evidence that austerity alone cannot solve the debt crisis, European leaders are expected to conclude this week that what the debt-laden, ...
Brad DeLong

The Challenges of the Eurozone
By Henning Meyer
With the eurozone recession set to get worse, world leaders (…) will have to face a number of challenges. For two years the debt crisis has loomed over Europe. Greece, Ireland and Portugal have all needed bailouts and some of Europe's ...
Social Europe Journal

Greece to leave the Eurozone and become a German colony | Bill ...
By bill
European Union leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on ...
Bill Mitchell - billy blog

EconomicPolicyJournal.com: Greek Financial Crisis Resulting in ...
By Robert Wenzel
Greek Financial Crisis Resulting in More Abandoned Children. Greece is coming apart at the seems. The Guardian had this report in late December: As Greece prepares to endure a fifth consecutive year of recession, as the crisis extends its ...
EconomicPolicyJournal.com

No Country Will Exit the Euro Zone This Year: Jim Rogers
By editor
Billionaire investor and chairman of Singapore-based Rogers Holdings, Jim Rogers believes that no country will exit the euro zone this year. I don't think.
Wall Street Pit

The Euro Crisis | gnovis
By Colleen Valentine
Georgetown University's peer-reviewed Journal of Communication, Culture & Technology (CCT)
gnovis

The Euro Crisis in Economist Covers | The Mess That Greenspan ...
By Tim
I haven't done one of these animated .gifs in quite a while, but it seemed worth the effort to put together these Economist covers on the euro crisis,
The Mess That Greenspan Made

Euro zone economic sentiment rises to 93.4 in January | ForexLive
Up from revised 92.8 in December , but marginally weaker than Reuters' median forecast of 93.8.
ForexLive

Sober Look: Can Germany decouple from Eurozone's "double-dip ...
By Walter Kurtz
Nevertherless the surveys are pointing to a potential for Germany to avoid a "double-dip" recession, which is inevitable for many other Eurozone states. ZEW: On average the experts estimate a likelihood of 71 per cent that the German GDP ...
Sober Look

Forex - GBP/USD remains lower on euro zone jitters By Forexpros
By Forexpros
Forex - GBP/USD remains lower on euro zone jitters.
Forex Pros RSS News Feed | Forex News

XE.com - UPDATE 8-Oil falls on euro zone worry, eyeing Iran
By Robert Gibbons. NEW YORK, Jan 30 (Reuters) - Oil prices fell on Monday. as traders weighed concerns about difficulties negotiating a. deal to restructure Greece's debt against the risk of a rabid. halt in Iran's oil sales to Europe. The dollar ...
XE Forex News

Stocks Lower into Final Hour on Rising Eurozone Debt Angst, Less ...
By Gary
BOTTOM LINE: Today's overall market action is mildly bearish, as the S&P 500 trades lower, but near session highs, on more global growth fears, profit-taking, high energy prices, less financial sector optimism and rising Eurozone debt angst.
BETWEEN THE HEDGES

IMF Needs More Funding to Stem Euro Crisis: Lagarde - CNBC
The International Monetary Fund needs $500 billion to help contain the spreading European debt crisis, the organization's managing director, Christine Lagarde, ...
www.cnbc.com/.../IMF_Needs_More_Funding_to_Stem_Euro...

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