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

Wednesday, January 11, 2012

Euro crisis puts continent's future in doubt, warns Fiat boss

Euro crisis puts continent's future in doubt, warns Fiat boss
The Guardian
David Riley, Fitch's head of global sovereign ratings, speaking in London, said Italy was on the "frontline" of the mounting eurozone debt crisis. "The future of the euro will be decided at the gates of Rome," he said. Italy has seen its borrowing ...

The Guardian

Falling euro gives eurozone a lift
Financial Times
By Ralph Atkins in Frankfurt Do not expect Mario Draghi, European Central Bank president, to say so after Thursday's interest-rate setting meeting but the eurozone is being helped significantly by the currency's weakness. More falls would be welcomed ...

Italy greatest risk to eurozone: Fitch
The Australian
FITCH Ratings yesterday pointed to Italy as the eurozone member that poses the greatest threat to the currency bloc's future, as the lack of a region wide plan to prevent the sovereign debt crisis from spreading has coupled with the country's large ...

EU leaders vow rapid action to control euro crisis
New Zealand Herald
Photo / AP The leaders of France and Germany have vowed to speed up various measures to ease the eurozone crisis, as the euro flirted with new lows on the market amid signs of heightened banking tensions. French President Nicolas Sarkozy said after ...

PRECIOUS-Gold firms; euro zone concerns remain
Reuters
Gold in tight range as investors watch euro zone developments * Pre-Lunar New Year physical demand lukewarm * Spot gold neutral in $1604-$1623 range - technicals * Coming up: France industrial output, Nov; 0745 GMT (Adds comment; updates prices) By ...

Dow higher on eurozone optimism, Tiffany & Co, Lululemon in focus
Proactive Investors USA & Canada
Fitch Ratings said at a presentation that eurozone "headwinds...should begin to ease toward the end of the year". The agency also indicated that there was a "significant chance" of a downgrade for Italy. The ratings agency plans to make a decision on ...

Proactive Investors USA & Canada

Merkel to meet IMF chief in euro crisis flurry
AFP
BERLIN — Ratings agency Fitch offered a ray of light for the eurozone Tuesday ahead of talks between German Chancellor Angela Merkel and IMF chief Christine Lagarde on Greece's struggle to cut its debt. Fitch, one of three leading ratings agencies, ...

AFP

Eurozone debt woes weigh on industrials
Financial Times
Fears increased that the eurozone's debt problems are hurting industry after Philips warned that the deteriorating economy would hit profits while rival conglomerate Siemens said its targets had become harder to achieve. Industrial companies exposed to ...

Morning Briefing: Euro Zone Eyed, Hungarian T-Bills Set
Wall Street Journal (blog)
By Sean Carney Markets Tuesday will have a chance to react to Monday's meeting of euro-zoneleaders which attempted to stitch together a plan to boost economic growth while enacting stricter rules on fiscal discipline. The evergreen topic is again at ...

UK economy likely to shrink amid euro crisis, says BCC
Telegraph.co.uk
The Government must act now to repair the blow to business confidence dealt by theeurozone debt crisis, or risk an even greater setback for Britain's ailing economy, the British Chambers of Commerce warned. The BCC said its latest findings showed the ...

Telegraph.co.uk

Financial Crisis Already Having Moderate Impact on Washington Tech Businesses ...
Xconomy
The specific goal was to get feedback on how tech businesses are being directly affected by the nation's financial crisis. Xconomy was the exclusive media partner on the survey; we had early access to the results, which will also be made available on ...

Eurozone: Near beginning of end of troubles?
New Europe
At the dawn of 2012, and according to the current wisdom during the deepening sovereign debt crisis in the Eurozone with the contagion effect having badly shaken Italy both financially and politically, one could legitimately expect that the overall ...

New Europe

Asian Stocks Climb Up Before Eurozone Leaders Meet
Industry Leaders Magazine
The South Korean won saw the highest rise in three weeks pointing out that Eurozoneleaders are working hard to tackle the debt crisis. But it does not do good to the investors. This week concerns over funding of euro zone sovereigns take a lead on key...

Industry Leaders Magazine

Paul Bettany hails financial crisis film Margin Call 'as appropriate today as ...
Telegraph.co.uk
Director JC Chandor's drama Margin Call is the latest addition, which follows the players at one investment firm over a course of 24 hours as they are trying to manage the unfolding financial crisis. With an ensemble cast that is made up of Hollywood ...

Turkish experts say euro crisis likely to deepen, spread in 2012
Today's Zaman
An overwhelming majority of nearly 350 Turkish academics holding a doctoral degree in economics believe the ongoing debt crisis in the eurozone will not only persist through the end of this year but also deepen and spread to other economies within the ...

The euro crisis? You bet it's important!
Chicago Reader
As for the other countries in the Eurozone, it is—alas—hit and miss. Despite my significant stake in the lira, the Chicago consulate informs me that Italy's national bank ceased exchanging lire for euros just last month. Last I looked, my 7400 lire ...

Chicago Reader

This Election Could Lead to the Next "Eurocrisis"
Investment U
by Jason Jenkins, Investment U Research As the European crisis has come to unfold, we have seen Eurozone governments receive votes of no-confidence because of their inability to solve financial crisis and new governments installed. ...

SET outlook positive on euro-zone moves
Bangkok Post
The Stock Exchange of Thailand index is moving swiftly towards a positive trend on prospects that new remedies addressing the euro-zone crisis will take firmer shape, says SCB Securities (SCBS). Late last year, analysts projected the investment outlook ...

Billionaire investor George Soros bemoans lack of political will in resolving ...
Economic Times
BANGALORE: Billionaire investor George Soros blamed the absence of European political will in resolving the ongoing euro zone crisis, and pointed out that Europe's fiscal meltdown was bigger than the 2008 financial crash. Speaking at an event organised ...

Custody banks net short-selling gains from EU crisis
Reuters
"Activity in the second half was driven by (hedge) funds, reacting to global events like the euro zonecrisis." JP Morgan and State Street both saw lending levels rise in 2011, while Equilend, whose electronic systems match firms wanting to lend with ...

Europe's Crisis Is Germany's Blessing
Spiegel Online
By Stefan Schultz Its neighbors may be suffering, but the euro crisis has created conditions that actually benefit the German economy. Not only is the government enjoying the windfall of negative interest rates on bonds, but unemployment is down and ...

Spiegel Online

RPT-UPDATE 1-EU's Rehn asks markets for patience, hopeful on Greece
Reuters
EU Economic and Monetary Affairs Commissioner Olli Rehn also warned that the euro zone's financial crisis was not over, and urged financial markets to be patient for the fruits of reforms to avoid pushing the bloc into a liquidity crisis. ...

Tiffany cuts profit forecasts as euro crisis hits sales
Telegraph.co.uk
Analysts had projected $3.77, the average of estimates in a Bloomberg survey. Tiffany shares fell 7.5pc to $61.90 in pre-trading. The shares rose 6.4pc last year. Tiffany cuts profits forecast as euro crisis hits jewellery sales.

Telegraph.co.uk

Investors more bullish as euro zone bank jitters subside
Reuters Video
Jan. 10 - Europe Day Ahead: Markets look to the Federal Reserve's "beige book" update on the US economy.

Role Reversal Growing among Eurozone Banks and Cash-Rich Corporations
NASDAQ
(eToro Blog) While the ECB remains the primary lifeline for cash-strapped banks, the deficiency of funding from traditional inter-bank lending has compelled many of the Eurozone's financial institutions to find alternative funding sources. ...

Eurozone crisis hits global adspend
The Drum
Marketing intelligence service Warc has published research into the impact of the ongoing Eurozone crisis suggesting that the political turmoil on the continent will slice 0.9% from their previous forecast of 6.3% global adspend growth in 2012. ...

The Drum

Export performance weakened by euro zone crisis
Otago Daily Times
By Dene Mackenzie on Wed, 11 Jan 2012 With no clear resolution to the euro zone debt crisis likely in the first half of the year, New Zealand's export performance was likely to weaken, ASB economist Jane Turner says. Commenting on the latest trade ...

Euro crisis outcome key for airlines
Travel Daily News International
The biggest risk facing airline profitability over the next year is the economic turmoil that would result from a failure of governments to resolve the Eurozone sovereign debt crisis. At the time of writing, actions were being taken by central banks to ...

Should we worry about the euro's weakness?
Deutsche Welle
When the euro currency was introduced to eurozone states in 2002 it wasn't even worth one US dollar. On average, it was worth around $0.95. After that its value climbed steadily and reached its highpoint in 2008, when it was worth around $1.47. ...

EU's Rehn: Euro zone crisis is in no way behind us
ForexLive (blog)
By Jamie Coleman || January 10, 2012 at 14:29 GMT hafeez: Didn't know he was in London, i better go ask him why BOJ is so toothless. They just can't... HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable ...

The U.S./Eurozone decoupling continues
By Scott Grannis
With 2-yr swap spreads as a proxy for systemic risk, we see that conditions in the Eurozone have been deteriorating for the past two years, and especially since last July, thanks primarily to the growing risk of sovereign debt defaults in the ...
Calafia Beach Pundit

Merkel to meet IMF chief in euro crisis flurry | The Raw Story
By Agence France-Presse
A day after Merkel hosted French President Nicholas Sarkozy for their first tete-a-tete of 2012, she will press on with an intensive three-day diplomatic push as the eurozone crisis shows no signs of abating. Greece must ensure the “rapid ...
The Raw Story

Euro Crisis:Get Ready for More Regulation and Protectionism.
By Kristin Moyer
Kristin R. Moyer Research Director 11 years at Gartner 18 years IT industry. Kristin Moyer is a research director in Industry Advisory Services/Banking and Investment Services. She has more than 17 years of experience across the global ...
Kristin Moyer

Angela Merkel, Nicolas Sarkozy stress eurozone growth
By Geir Moulson
Angela Merkel, Nicolas Sarkozy stress eurozone growth, The leaders of Germany and France stressed Monday that boosting economic growth in the 17-nation eurozone is a priority, a recognition that the focus on austerity cuts is unlikely to get ...
azcentral.com | business

The Myth of Europe: The euro crisis isn't really about money. It’s about the fiction that Europeans ever existed at all..
By SC&A
First, there's the economic catastrophe. Like the United States, Europe is living through its fiercestfinancial crisis since the 1930s. Unemployment is high — more than 20 percent in formerly go-go Spain — while growth is almost nonexistent, ...
Sigmund, Carl and Alfred

Role Reversal Growing among Eurozone Banks and Cash-Rich ...
By Barbara Zigah
(eToro Blog) While the ECB remains the primary lifeline for cash-strapped banks, the deficiency of funding from traditional inter-bank lending has compelled.
eToro Blog

Difference between balance sheet recession and financial crisis ...
By Amol Agrawal
The collapse of Lehman sparked a global financial crisis that weakened the economy far more severely and rapidly than what would have been suggested by balance sheet problems alone. Unlike balance sheet recessions, in which monetary ...
Mostly Economics

Will Stability Bonds Save the Eurozone? | Market Integrity Insights
By Agnès Le Thiec, CFA
Agnès Le Thiec, CFA. The question is on all investors' lips: How to save the euro and avoid breaking up the eurozone, which would be hugely detrimental to the economy as a whole — not only the European one — and investors in particular? ...
CFA Institute Blogs

Should You Sell Into Euro Zone Summits?eShareholder ...
By Yahoo! Finance: Top Stories
As the euro zone gears up for yet more high-level meetings about its debt crisis, a fund manager advised investors to sell European shares in the wake of the series of planned summits. You should sell summits and wait for markets to go down ...
eShareholder

Comments Euro crisis could make IMF bigger and softer - Reuters
By Christopher Swann
Europe's travails are an opportunity for the IMF. Its kitty is nearing $1 trillion and should get heftier in 2012. And loan conditions may soften if more powerful nations come asking for help. There are risks, but this is preferable to ever rising ...
Breakingviews

Eurozone downgrades on the way
Sharecast reports that Fitch may well decide to cut the credit ratings of Eurozone countries, including Cyprus, under review by one or two notches by the end of the month, according to the agency's director of sovereign international and public ...
Famagusta Gazette

The Toll of Austerity: Eurozone Unemployment Hits New Record ...
By Gary Null
As the U.S. Labor Department announces today that the unemployment rate has fallen to a low of 8.5%, new statistics released today from the Eurostat, the EU's statistics agency, show the soaring rates of unemployment in the eurozone. ...
Home
Gold Edges Up; Euro Zone Concerns Remain – CNBC - San ...
By sfluxe
After Germany and France struck a gloomy tone on Greece, market participants are eyeing bond auctions by Italy and Spain later this week, seen as a test on the willingness of investors to plough more money into the debt-laden euro zone ...
San Francisco Luxury Living

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