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

Friday, January 6, 2012

Europe at the Brink - the Contagion of Denial

ieeuu.eu: "Europe at the Brink - A WSJ Documentary -In this documentary, Wall Street Journal editors and reporters examine the origins of Europe's debt crisis and why it spread with such ferocity to engulf much of the continent and threaten the entire world."

The Contagion of Denial
Views under the Palm - johnmpoole.com: The Contagion of Denial: "Despite Denial now evident on both sides of the Atlantic, the situation in Europe remains grim . . ."

Stocks Mixed as Euro Zone Concerns Resurface
New York Times
Stock indexes on Wall Street were mixed on Thursday, indicating that concerns about the euro zone economies had overshadowed two positive reports on the American jobs situation. The Standard & Poor's 500-stock index and the Dow Jones industrial average ...

Eurozone Debt Markets Suffer First Hit of 2012
Wall Street Journal
By Nick Cawley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Euro-zone government debt markets suffered their first real hit of the new year Thursday amid recurring concerns over the solidity of the region's banking system and the threat of Hungary and ...

Eurozone inflation eases to 2.8 pct in December
BusinessWeek
In a preliminary estimate, Eurostat, the EU's statistics office, reported Wednesday that inflation in the eurozone dropped to 2.8 percent in December from 3 percent the previous month. The decline was in line with expectations, so market reaction was ...

Euro-Zone Breakup Emerges as Buyer Risk in UniCredit's Planned Stock Sale
Bloomberg
Enlarge image Euro-Zone Breakup Emerges as Buyer Risk UniCredit Stock SaleEuro-Zone Breakup Emerges as Buyer Risk UniCredit Stock Sale Alessia Pierdomenico/Bloomberg A pedestrian passes a branch of the UniCredit SpA bank in Rome. ...

Bloomberg

Eurozone worries push US stocks lower
AFP
NEW YORK — US stocks opened lower Thursday, with a dimming picture for theeurozone economy overshadowing data showing a promising jump in US private-sector hiring in December. Around 1515 GMT, the Dow Jones Industrial Average was down 81.32 points ...

AFP

Contagion 'a cautionary tale' for humanity
Toronto Sun
By Bruce Kirkland ,QMI Agency Contagion is an examination of a legitimate crisis facing humanity. If not now, then inevitably in the future, according to medical scientists. Contagion is the most intelligent, reasoned and authentic drama ever made ...

Europe's Refiners Seek Partners As Euro Zone Credit Woes Bite
NASDAQ
EB) unless they team up with oil companies, traders or investment banks to guarantee crude supplies as the euro zone crisis has made it more expensive to buy crude and further reduced already dwindling profits, traders and analysts said. ...

Euro zone doubts resurface
Sydney Morning Herald
Deep concerns over the euro zone debt crisis resurfaced with a vengeance on Thursday, driving the euro to 16-month US dollar lows as Italy and Spain came under intense pressure on the markets. The euro sank below $US1.28 to levels last seen in ...

Hungary Shows Euro Zone Where Not to Go
BusinessWeek
The particularities of Hungary, where a new law has raised questions about the independence of its central bank, are undoubtedly a major factor in this result—still, the sale does raise the question of whether euro-zone members would have any ...

BusinessWeek

Euro crisis to top reinsurers' worry list-Aon
Reuters
LONDON Jan 5 (Reuters) - The eurozone debt crisis is likely to replace soaring natural catastrophe claims as the insurance industry's biggest worry this year, potentially fuelling increased demand for reinsurance cover, reinsurance broker Aon Benfield ...

Euro zone factories struggle, price pressures remain
Reuters UK
By Robin Emmott | BRUSSELS (Reuters) - New data painted a downbeat picture of the euro zoneeconomy on Thursday, with industrial demand weaker than expected and producer price pressures unrelenting, an unwelcome mix with the currency zone expected to ...

Euro Weakens On Lingering Eurozone Debt Woes
RTT News
(RTTNews) - The euro remained weaker against its major rivals in early deals on Thursday as stocks tumbled on fresh concerns about the state of Europe's banks and lingering worries over potentialeurozone sovereign downgrades. ...

FTSE CLOSE: Eurozone debt concerns prey on investors
This is Money
By This Is Money Reporters 15.55: European markets are in negative territory oneurozone debt woes and concern about the health of the region's banks. The FTSE 100 is 32.1 points lower at 5636.4, while on the continent Germany's DAX is down 23.2 points ...

This is Money

Eurozone and banking fears hit FTSE
The Press Association
A cocktail of sovereign debt and banking fears in Europe has ensured another day of losses on the London market. The FTSE 100 Index closed 44.2 points lower at 5624.3 as financial stocks fell out of favour after Italy's largest bank Unicredit had to ...

Euro crisis more threatening than crash in 2008: Soros
Business Standard
Thus, the euro crisis in my opinion, is more serious and more threatening than the crash of 2008,” said Soros, chairman of Soros Fund Management, which manages of about $27 billion, while speaking at an interactive session organised by the Indian ...

Business Standard

Analysis - Investors ponder Hungary default risk, contagion
Reuters UK
By Sujata Rao | LONDON (Reuters) - A selloff in Hungarian financial markets is forcing investors to weigh the possibility of a default in the European Union state and the risk of contagion to other regional economies. The rising cost of insuring ...

At noon: TSX falls on fresh euro zone banking worries
Globe and Mail (blog)
But investors have been demanding higher yields as markets grow increasingly impatient at the failure of euro zone leaders to come up with a convincing fix for the region's government debt crisis. Countries that cannot raise money at reasonable rates ...

Eurozone's Worried Consumers, Banks Stockpiling Cash
NASDAQ
In Germany, the primary driver of the Eurozone's growth, the economy is seen as more robust than elsewhere within the bloc. Today's data, however, underscores the reality that German consumers are equally as concerned over their future as their ...

Asian economy faces risk, has capacity to withstand euro crisis: IMF
Economic Times
However, if the global economic situation deteriorates -- particularly in the troubled economies of theeuro zone -- Asia's policymakers still have the room to respond aggressively, it said. Asia's heavy reliance on trade is likely to make 2012 a ...

Euro crisis blocking off credit route to recovery
Evening Standard
The latest signs of the increasing squeeze on the financial system from theeurozone's sovereign debt crisis came amid speculation that Germany's biggest bank, Deutsche Bank, would be forced to raise billions of euros to shore up its balance sheet....

Evening Standard

Eurozone bank shares battered for a second day
Telegraph.co.uk
Eurozone bank shares suffered a second day of falls on Thursday, as fears over their ability to raise capital spooked markets. After falling 15pc on Wednesday, UniCredit shares were down 12pc in mid-afternoon trade at €4.766, after being suspended at ...

Telegraph.co.uk

Canadian Bonds Rally On Euro-Zone Concerns
Wall Street Journal
By David George-Cosh Of DOW JONES NEWSWIRES TORONTO (Dow Jones)--Canadian bond prices were higher on Thursday on continuing concerns over euro-zone credit markets, despite signs that the US labor force was improving. Yields on two-year benchmark bond ...

ECB economist seeks to regain investor trust
Financial Times
By Ralph Atkins in Frankfurt Eurozone leaders should act to restore confidence in Europe's monetary union by abandoning plans to involve private investors in slashing Greece's massive debts, a senior member of the European Central Bank's governing ...

TSX regains morning eurozone losses, First Quantum's DRC deal in focus
Proactive Investors USA & Canada
Toronto's main market recovered earlier losses from eurozone pessimism Thursday afternoon which pushed commodities lower. As at 1.15pm EDT, the S&P/TSX Composite was up 7.10 points, or 0.06% at 12233.57, while the junior S&P/TSX Venture index was 4.17 ...

Proactive Investors USA & Canada

Wall St falls on euro zone concerns
Reuters India
By Angela Moon | NEW YORK (Reuters) - US stocks fell on Thursday as encouraging reports on the US labor market were not enough to offset concerns about the euro zone's debt crisis. Financial stocks were the top decliners in early trade as European ...

Futures Slip on Euro Zone Worries
Beacon Equity Research
Stock index futures have slipped in trading today on worries about the euro zone. Futures are also falling as investors remain cautious ahead of the release of key economic data, including the all important December jobs report on Friday. ...

Nordea chief confident of eurozone recovery
Financial Times
By Patrick Jenkins The head of the Nordic region's biggest lender, itself one of the main victims of Sweden's 1990s banking crisis, thinks everyone is making too much of a fuss over the eurozone'sproblems. “The main lesson from the Swedish crisis,” ...

Eurozone crisis, MF Global chill trading at CME Group
Chicago Tribune
CME Group and IntercontinentalExchange said on Wednesday that trading volume dropped last month, which analysts attributed to MF Global's collapse and Europe's debt crisis chilling trading in US futures markets. Chicago-based CME, the biggest US ...

DocComment: On the Benighted Eurozone Economies, 2012 ...
By DoctoRx
The Economist forecasts that if one omits the breakup of Sudan into two countries, eight of the nine countries projected to have the slowest economic growth or.
The Daily Capitalist

Fuel Fix » Eurozone worries weigh on sentiment
By FT.com - Energy
Posted on January 5, 2012 at 10:01 am by FT.com - Energy in. 66. |. Tweet. Share share E-mail. Wariness over the region's debt difficulties offset recent optimism about the global economy, leaving growth-focused assets scrambling for traction ...
Fuel Fix

Eurozone flawed, austerity an imbalance, not solution: Soros | Firstpost
The eurozone still has flaws and while austerity may be beneficial for a while, it is not a long term solution, said investment guru George Soros.
Firstpost

Forex – GBP/USD Pushes Lower, Euro Zone Worries Persist
By Forexpros
Forex – GBP/USD Pushes Lower, Euro Zone Worries Persist. By Forexpros on January 5, 2012 | More Posts By Forexpros | Author's Website · Subscribe by RSS · Email/Share Page · Tweet ...
DailyMarkets.com

Early Warning: Some relief on Eurozone Industrial Orders
By Stuart Staniford
September's industrial new orders number for the Eurozone was very bearish indeed but it looks like in October things improved slightly from there. I continue to think that this is the beginning of a new European recession but the jury is still out ...
Early Warning

XE.com - INSTANT VIEW 3-Euro zone November PPI, October new ...
Euro zone industrial producer prices rose more than expected in November but new orders at factories increased at a slower rate than forecast in October, data from the European Union's Statistics Office showed on Thursday.
XE Forex News

Eurozone bond auctions kick off | Global Macro Monitor
By macromon
Eurozone bond auctions kick off. Posted on January 4, 2012 by macromon. “Not a good auction, but not a surprise.” ... One Response to Eurozone bond auctions kick off. Pingback: Eurozone bond auctions kick off | Forex news ...
Global Macro Monitor

Solutions to the Global Financial Crisis - Global Economic Crisis Issue
By admin
Solutions to the Global Financial Crisis. As the debate continues in Congress about lowering the budget deficit, the debt ceiling is about to be raised again. Because the dollar is still one of the world's most important reserve currencies, US ...
Global Economic Crisis Issue

Cohan on psychopaths and the financial crisis « Investment ...
By Prieur du Plessis
William Cohan, author of “Money and Power: How Goldman Sachs Came to Rule the World”, talks about an article in a recent Journal of Business Ethics that blames the financial crisis on corporate psychopaths at the helm of financial ...
Investment Postcards from Cape Town

Obama Pours Fuel On Embers of Financial Crisis : Conservative ...
By Brian Garst
I've pointed out before how we seem to be repeating the same policies which lead to the financial crisis. Now comes yet further proof that Obama's divisive ideology and class warfare approach is once again resulting in dangerous government ...
Conservative Compendium

Eurozone's Worried Consumers, Banks Stockpiling Cash
By Barbara Zigah
(eToro Blog) The German Statistics office earlier reported that seasonally adjusted retail sales in November fell to -0.9% on a month over month basis, well off.
eToro Blog

BOE: UK banks warn that euro crisis, funding costs may hit credit ...
Survey points to slightly tighter outlook for credit supply conditions Banks expect credit availability to households and companies to increase a little in.
ForexLive

Understanding Eurozone debt developments, nation by nation | vox ...
2011 was the year the Eurozone began to buckle. The weight of debt taken on following the globalfinancial crisis two years earlier proved too much for some ...
www.voxeu.org/index.php?q=node/7491

Psychopaths Caused the Financial Crisis ... - Washington's Blog
The “corporate psychopaths” at the helm of our financial institutions are to blame [ for the financial crisis]. Clive R. Boddy, most recently a professor at the ...
www.washingtonsblog.com/.../psychopaths-caused-the-financi...

Fukushima hospitals face financial crisis - UPI.com
Hospitals in Japan's Fukushima prefecture have reported financial strain in the wake of Tokyo Electric Power Co.'s Fukushima No. 1 nuclear power plant ...
www.upi.com/Top_News/.../UPI-68261325283971/

Renewed Eurozone Tensions
Its early days yet however, and given the ongoing tensions in the Eurozone the USD is hardly likely to lose much ground in the weeks ahead. US data continues ...
www.fxstreet.com/fundamental/market-view/...on.../05/

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