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

Saturday, January 7, 2012

Eurozone jobless raises recession fears

Eurozone jobless raises recession fears
Financial Times
By Ralph Atkins in Frankfurt and Stanley Pignal in Brussels Eurozone unemployment surged to a fresh record late last year as economic confidence tumbled to a two-year low and even Germany's robust industrial sector showed signs of weakness, ...

Bank capital fears to grow
Reuters
By Richard Hubbard | LONDON (Reuters) - Fears a capital black hole is spreading over the euro zone's banking sector threatens to overshadow the first meeting in 2012 of German Chancellor Angela Merkel and French President Nicolas Sarkozy next week to ...

Eurozone strains increase with grim new economic data
The Guardian
The grim economic news, which included a fall in retail sales across the eurozone and a surprise drop in German industrial production, sent leaders scurrying to agree further measures to shore up the euro. Italy's prime minister, Mario Monti, ...

The Guardian

Sarkozy, Monti urge unity over euro crisis
Reuters
The heads of the top three euro zone economies are now striving to achieve closer fiscal integration in Europe and convince the world they can stem a devastating debt crisis. Sarkozy said he and Merkel would meet with Monti in Italy on January 20, ...

Euro zone's economy slumps at year-end
Reuters
By Robin Emmott | BRUSSELS (Reuters) - The euro zone's economy deepened its downturn at the end of 2011 as retail sales fell and sentiment soured, but the first improvement in the business climate in 10 months offered hope that an expected recession ...

ECB policymaker wants banks off Greece bailout hook
Reuters
By Paul Carrel | FRANKFURT (Reuters) - European Central Bank policymaker Athanasios Orphanides called for euro zone leaders to abandon plans to make private sector investors help reduce Greece's debts, but his push showed no sign of gaining any ...

Eurozone retail sales hit by unemployment, crisis
Boston.com
By Gabriele Steinhauser AP Business Writer / January 6, 2012 BRUSSELS—Retails sales in the 17-nation eurozone dropped in November, official statistics showed Friday, as consumers felt the bite of austerity measures and feared the currency union could ...

Financial crisis grips Bosnia heritage sites
BBC News
Reading rooms in Bosnia-Hercegovina's National Library have opened without heating as a funding crisis grips the divided country's heritage sites. The institution in the capital Sarajevo is unable to meet its utility bills or pay its staff, ...

BBC News

Euro crisis hits confidence in UK property-Lloyds
Reuters
Negative sentiment spreads to London property market * More European banks could stop lending in Q1 2012 LONDON Jan 6 (Reuters) - Confidence in the health of the UK property sector is suffering from the euro zone debt crisis and the unease is spreading ...

US jobs cheer cut short by euro crisis worries
The Associated Press
Unemployment in the 17-nation eurozone also remained at a worrying 10.3 percent and could worsen as the region slides back toward recession. Even strong economies like Germany were being affected by the gloom generated by the debt crisis. ...

Eurozone Economic Sentiment Drops Further, Retail Sales Fall
RTT News
(RTTNews) - Suggesting a harsh situation at the end of 2011, Eurozone economic sentiment slid for the tenth successive month in December. Moreover, fragile consumer demand led to a worse-than-expected drop in retail sales in November, ...

RTT News

UK Bonds Boosted By Euro Zone Woes
CNBC.com
UK government bonds, having seen record lows in the 10-year yields at the end of 2011, will continue to be a sought-after safe haven asset as long as the euro zone'sdebt crisis remains unresolved, according to bond experts. ...

CNBC.com

The eurozone will pay a high price for Germany's economic narcissism
The Guardian
At each stage of the euro crisis during the past two years, Chancellor Angela Merkel has seemed to do the absolute minimum needed to keep the single currency together – but no more. This minimalist approach to the euro crisis may have ultimately cost ...

The Guardian

Eurozone sales volume down 0.8% in November 2011
FinFacts Ireland
By Finfacts Team In the month of November 2011, the volume of retail trade fell by 0.8% in the Eurozone (EA17) and by 0.6% in the EU27. In October retail trade rose by 0.1% and 0.2% respectively. Eurostat, the EU's statistics agency reports that in ...

FinFacts Ireland

Hungary's dangerous dependence on eurozone banks
BBC News
The financial crisis in Hungary is a warning of why the eurozone's debt crisis is the world's debt crisis. Hungary is not a member of the eurozone, but economic woes partly of its own making have been seriously exacerbated by the weakness of the ...

BBC News

Christine Lagarde IMF: Solving euro crisis vital for global economy
TelegraphTV
Fixing the euro debt crisis would help the global economy as a whole, says International Monetary Fund (IMF) Managing Director Christine Lagarde.

Euro zone debt worries depress stocks
Irish Times
France kicked off what is expected to be a three-month round of bond auctions by euro zonegovernments by raising close to €10 billion yesterday. The country's lenders charged an average 3.29 per cent interest from 3.18 per cent a month ago, ...

Eurozone Data Continues to Print Weak
Daily Reckoning - American Edition
But then I expect us to see these kinds of moves in the euro until some stabilization of theEurozone can be achieved. By now, customers of EverBank World Markets have received their monthly newsletter: A Review & Focus… In that letter, I talk about ...

Gold falls on strong dollar, euro zone concerns
Reuters India
In the wider markets, equities on both sides of the Atlantic were down, while US treasuries rose as risk aversion returned, with investors expressing concern about sovereign and bank funding problems in the euro zone. Technical analysis suggested spot ...

Soros: Euro Crisis More Serious than the Crash of 2008
Wall Street Pit
Certain inadequacies in designing the [currency] have led to the euro-zone crisis that looms large over world economies” Soros said at an interactive session in the south Indian city of Hyderabad. “If the common currency were to break down, ...

Scarpaci Says `Main Issue' Is Ensuring QE for Euro Zone
Washington Post
Jan. 6 (Bloomberg) -- Arnaud Scarpaci, a fund manager at Agilis Gestion SA, discusses the outlook for the European banking industry and the prospect of more quantitative easing in the region. He speaks with Maryam Nemazee from Paris on Bloomberg ...

Hungary's Long-Term Ratings Are Cut to Junk by Fitch Amid Financial Crisis
Bloomberg
Enlarge image Hungary's Long-Term Credit Rating Cut to Junk by Fitch Hungary's Long-Term Credit Rating Cut to Junk by Fitch Balint Porneczi/Bloomberg Fitch cut Hungary's foreign-currency debt to BB+ from BBB-, reducing it to junk status, and its forint ...

Bloomberg

Turnpike CEO: No financial crisis here
Central Penn Business Journal
By Jim T. Ryan Pennsylvania Turnpike Commission CEO Roger Nutt responded emphatically, denying claims by state Auditor General Jack Wagner that the toll road is in a financial crisis due to its obligations to pay $450 million to the state for roads and ...

Canadian dollar lower amid weak employment data, eurozone nervousness
CanadianBusiness.com
Worries about the Eurozone government debt crisis are never far away and Italy caught traders' attention Friday. The country's benchmark 10-year bond yield edged further above seven per cent, a borrowing rate that is considered unsustainable. ...

CORRECT:Canada Bonds Rise Due To Euro-Zone Concerns Despite US Data
Wall Street Journal
("Canada Bonds Fall Due To Euro-Zone Concerns Despite US Data," published at 10:48 am EST, misstated the direction of bond prices in the headline and first paragraph. A corrected version follows.) By David George-Cosh Of DOW JONES NEWSWIRES TORONTO ...

European Economics Preview: Eurozone Data, German Orders Due
NASDAQ
(RTTNews.com) - Economic sentiment, retail sales and unemployment figures from Eurozone are the major reports expected for the day. In addition, factory orders from Germany are also due. At 3.00 am ET, Czech industrial output and trade balance figures ...

Commodities Steady on Improved US Jobs, Eurozone Woes Persist
Resource Investing News
Still, worries persist about the Eurozone's outlook, not least as the European Commission's statistics group Eurostat reported that retail trade volume in the euro area fell by 2.5 percent from a year ago in November, and down 0.8 percent from the ...

Resource Investing News

Euro Losing Strength Against the Dollar
Voice of America
And a spate of poor euro-zone economic data Friday further eroded its value, signaling a grim economic outlook for the European economy in 2012. At 13 years old, the euro is barely a teenager. But, so far, it has had an eventful life. ...

Jean Ergas: Is the Euro Crisis a Financial Re-Run of the 1956 Suez ...
By Jean Ergas
It is high time for Europe, like the UK was forced to do in 1956, to face up to the fact that the world has changed.
The Huffington Post Full Blog Feed

NewsDaily: Euro zone's economy slumps at year-end; business ...
The euro zone's economy deepened its downturn at the end of 2011 as retail sales fell and sentiment soured, but the first improvement in the business climate in 10 months offered hope that an expected recession may be mild.
NewsDaily: Top Headlines

New Data Shows Euro Zone on Brink of Recession (NYSEARCA ...
By info@wallstcheatsheet.com (Damien Hoffman)
The euro zone finds itself on the brink of recession after a steep downturn at the end of 2011 as retail sales fell, sentiment weakened, and unemployment continued its steady ascent.
Wall St. Cheat Sheet

The eurozone isn't working
By Richard
Unemployment in the eurozone has soared to a record 16.4 million people, up 587000 on the same month in 2010. This is via The Guardian, which is recording a level of unemployment which represents almost the entire population of Holland ...
EU Referendum

Study: Euro Crisis To Curb Tech Spending - HispanicBusiness.com
Forecast for outlays on technology worldwide drop to 3.7 percent, while in Western Europe, the spending will drop to 0.7 percent.
Hispanic Business Magazine

The other jobs report: Euro Zone unemployment at 10.3 percent ...
By Amar C. Bakshi
By John Cookson, CNN Attention has focused on today's U.S. jobs report, yet new employment data is also coming out of Europe. With roughly the same population as the U.S., the Euro Zone had an unemployment rate of 10.3 percent in ...
Global Public Square

Eurozone's Confidence Levels, Retail Sales Decidedly Disappointing
By Barbara Zigah
(eToro Blog) A whole host of economic data points were released today in the Eurozone, the majority of which point to continuing difficulties for the faltering.
eToro Blog

Eurozone unemployment at record 10.3% | Pakistan Business News ...
By AFP
BRUSSELS – Eurozone unemployment remained at an all-time record high of 10.3 percent for the second month running in November, official figures showed on Friday. The Eurostat data agency estimated that more than 16.3 million men and ...
Pakistan Business News | Pakistan...

XE.com - COLUMN-Euro crisis speeds zombie refinery cull-Campbell
The financial crisis at Swiss independent refiner Petroplus may herald more than the closure of a few refineries but also the death of the independent refinery model in Europe.
XE Forex News

Early Warning: Eurozone Retail Trade Falls Below 2009 Trough
By Stuart Staniford
One noteworthy milestone is that in the Eurozone (pink line) retail trade (on a real and seasonally adjusted basis) has now fallen below the lowest levels of the 2008-2009 recession. So the partial recovery in late 2009 and 2010 has been ...
Early Warning

Eurozone retail sales hit by unemployment, crisis « New Hampshire ...
By Associated Press
BRUSSELS (AP) — Retails sales in the 17-nation eurozone dropped in November, official statistics showed Friday, as consumers felt the bite of austerity measures and feared the currency union could slip deeper into crisis. Retail sales in the ...
New Hampshire Journal

Can the Eurozone survive? | Crikey
By Crikey
A lot can happen in a year, but the biggest question facing global investors at the beginning of 2012 is: can the eurozone survive? asks Robert Gottliebsen and Alexander Liddington-Cox.
Crikey

Gold slides on strong dollar, eurozone concerns | Firstpost
By hidden
Gold fell on Friday as a stronger dollar and worries over Europe's debt crisis knocked appetite for bullion.
Firstpost

Italy and France to discuss financial crisis - Europe - Al Jazeera ...
Leaders of two countries to meet in Paris as Italian PM seeks to rebuild confidence in country's public finances.
www.aljazeera.com/video/europe/.../20121651512829279.ht...

Amid Euro Crisis, Workers In Italy, Spain Translate Their Resumes ...
An increasing number of workers in the troubled Mediterranean countries of Italy, Spain and Greece are having their resumes translated into English and ...
www.huffingtonpost.com/.../euro-crisis-italy-spain-greece_n_...

Eurozone economy slumps further Alex Jones' Infowars: There's a ...
The eurozone's economy slumped further at the end of last year as retail sales ... Euro zone retail trade fell a worse-than-expected 0.8 percent in November from ...
www.infowars.com/eurozone-economy-slumps-further/

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