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

Saturday, January 28, 2012

Fitch cuts Italy, Spain, other euro zone ratings

Fitch cuts Italy, Spain, other euro zone ratings
Fitch said it had weighed up a worsening economic outlook in much of the euro zone against the European Central Bank's December move to flood the banking sector with cheap three-year money and austerity efforts by governments to curb their debts.

Euro-Zone Bank-Lending Growth Slows
Wall Street Journal
By MARGIT FEHER and TODD BUELL FRANKFURT—Euro-zone bank lending growth slowed sharply in December, a sign that economic activity will remain subdued and inflation depressed in the region, opening up room for further rate cuts, while the effects of the ...

Eurozone Fears Permeate Davos
Council on Foreign Relations
The ongoing eurozone sovereign debt crisis has dominated the start of the World Economic Forum in Davos, Switzerland, with many private sector business leaders urging Germany to do more to alleviate Europe's fiscal woes. German Chancellor Angela Merkel ...

Euro zone may need to help Greece more: Juncker in paper
VIENNA (Reuters) - Euro zone members may have to increase their financial support for Greece if Athens and the private sector do their part to address the country's debt crisis, Eurogroup head Jean-Claude Juncker told a newspaper.

David Cameron in U-turn over fiscal policing of eurozone
The Guardian
The prime minister has abandoned his pledge to block the eurozone from using common EU institutions to police a new regime of fiscal integration and stiff German-style rules for the embattled single currency. Ahead of Monday's summit of EU leaders,...

The Guardian

Osborne lays down conditions for eurozone fund contribution
The Guardian
"And crucially, IMF resources to support individual countries cannot be a substitute for further credible steps by the eurozone to support their currency," he said. "In other words, the world needs to see the colour of their money before it contributes ...

The Guardian

Tensions rise over eurozone firewall
Financial Times
By FT reporters Fresh signs of tension between France and Germany over theeurozone rescue emerged on Friday, as expectations rise that a deal to restructure Greece's sovereign debt could be agreed as early as this weekend. “We are very close to a deal ...

Financial Times

Euro-zone Leaders Could Meet After EU Summit Mon - Sources
Wall Street Journal
BRUSSELS (Dow Jones)--The 17 euro-zone leaders may hold a special meeting Monday to discuss Greece, following the main summit of all 27 European Union leaders, a European official told Dow Jones Newswires Friday. "A euro-area summit has not been called ...

Eurozone crisis live: Greece inches towards deal with creditors
The Guardian
7.39am: Not surprisingly, much of the attention around the euro crisis is focused on Greece this week as the talks over the bond swap go on. But there is a growing belief that Italy is really the key battleground. Our Brussels correspondent Ian Traynor ...

The Guardian

Mt. Euro-Zone Is Dormant, Not Extinct Volcano
Wall Street Journal (blog)
By RICHARD BARLEY Is the worst of the euro-zone bond-market crisis over? It's tempting to think so: Italian 10-year yields are under 6%, their lowest since October, while Spanish yields are well under 5%, a level not seen in over a year.

Eurozone will not fail: economist
Vancouver Sun
Canada does not need to prepare for the collapse of the eurozone because it is not going to happen, Herbert Grubel, a Fraser Institute senior fellow and emeritus professor of economics at Simon Fraser University said Thursday.

Euro zone crisis puts Asean model into question
Jakarta Post
Pailin Chuchottaworn, CEO of PTT Plc, told the audience at the World Economic Forum in Davos that the crisis in the euro zone has suddenly thrown the Asean model into question. "Asean 10, which is starting an Asean Economic Community, was modelled ...

'Show us the colour of your money' Osborne tells eurozone
Channel 4 News
Chancellor George Osborne says Britain will contribute more to the IMF as it comes to the aid of struggling EU countries, but only if the eurozone takes action to deal with its debt crisis. Mr Osborne made the comments in a speech to business leaders ...

Channel 4 News

Don't Let Iran Benefit From EU Financial Crisis: John R. Bolton
The European financial crisis and the ineffective effort to stop Iran's nuclear-weapons program are crashing into each other. As the European Union adopts new restrictions on importing Iranian oil, the most-troubled EU economies will continue to seek ...


Greece Leaving The Euro Zone Won't Bring Recovery - Spokesman
Wall Street Journal
ATHENS (Dow Jones)--Greece leaving the euro zone wouldn't bring about economic recovery, the government's spokesman said Friday, even as the country struggled to secure a new EUR130 billion loan it needs to avoid default. Speaking on privately owned ...

Sweden can back eurozone pact: Riksdag
The Local.se
Sweden's parliament on Friday gave as expected the government a green light to support the eurozone pact on fiscal discipline at an EU summit next week, as long as certain terms are met. The parliament's EU affairs "committee concluded that the ...

The Local.se

Steel Firm Readies Itself for Worst Case Euro-Zone Scenario
Wall Street Journal (blog)
By Andrea Hotter One of the world's biggest steel firms, Russia's OAO Severstal, says it's ready for a euro-zone collapse and a return to the bleak conditions that faced the steel sector as a result of the economic downturn in 2008.

The Euro Zone's Bridges from Nowhere
When the euro crisis started brewing, Stam set to work bringing the bridges, those woebegone symbols of European cooperation, to life. “I thought it was funny that me, just a regular designer, could take something that big and just claim it,” says Stam ...


Live Blog: 'The Future of the Euro Zone' Event in Davos
The Future of the Eurozone is chaired by Maria Bartiromo, anchor of CNBC's "Closing Bell." All times are Central European Time (CET). The event is scheduled to run one hour. 10:28 am The crowd settles in at Congress Hall within the Congress Centre in ...


Eurozone policies forcing deflationary debt spiral: Soros
Soros Fund Management Chairman George Soros says that eurozone policies are pushing the region into a deflationary debt spiral, reports CNBC-TV18. "The policies that Germany is pushing on the eurozone strict fiscal austerity, it is creating a ...


Eurozone Leading Index Rises For First Time In 10 Months
(RTTNews.com) - Eurozone's leading economic indicator increased for the first time in ten months December, partly reflecting a modest decrease in the level of stress on financial markets, data from a survey by the Conference Board showed Friday.

Davos 2012: All the action from day three of the World Economic Forum
The Guardian (blog)
10.11am: Jill Treanor, at the session on the Future of the Eurozone, reports that Olli Rehn had made an full-throated pitch for the US and the UK to put more money into the International Monetary Fund. The eurozone finance ministers on the panel also ...

The Guardian (blog)

Eurozone optimism rears its head in Davos
But despite the expressions of optimism in Davos, things don't look so pretty elsewhere in theEurozone. Portugal's bond yields are on the rise, and EU and IMF officials are in Athens to bargain with Greek officials on how to ensure the next tranche of ...

DAVOS: UK Osborne: Need More Euro-Zone Resources To Stand Behind Euro
Wall Street Journal
(Dow Jones)--UK Chancellor of the Exchequer George Osborne said Friday in an interview with CNBC from Davos that the euro zone needs to provide more resources for its currency. "Ultimately, we need to see more resources from the euro zone to stand ...

Why aren't you panicking about the Eurocrisis right now?
MarketWatch (blog)
I'm going to throw it out there for you guys once again, as I do everytime the Greece/Eurocrisis panic subsides — NOW IS THE TIME TO PANIC ABOUT GREECE! Seriously, if you were worried about Greece's debt crisis and the ability of the Euro currency to ...

LEAD: Germany resists pressure to boost eurozone bailout funds
Monsters and Critics.com
Brussels - Germany on Friday resisted pressure to agree to an immediate expansion of eurozonerescue funds, despite fresh calls for such from France and the European Union's executive, while Poland raised issues with a draft budget discipline pact.

Fuel Fix » Tensions rise over eurozone firewall
By FT.com - Energy
Tensions rise over eurozone firewall. ... Share share E-mail. Fresh tensions emerge between France and Germany over the eurozone rescue despite expectations a deal to restructure Greece's debt is imminent. 3. |. Tweet. Share share E-mail ...
Fuel Fix

Fitch downgrades 5 eurozone nations | Washington Examiner
By The Associated Press
U.S. ratings agency Fitch says it is downgrading the credit ratings of five countries that use the euro, including economic heavyweights Italy and Spain.
Examiner World RSS

Update from the eurozone, the very very latest hottest news you can ...
By Tyler Cowen
You will find the report here, and I thank John B. Bryant for the pointer.
Marginal Revolution

mainly macro: Optimism or Pessimism on the EuroZone Crisis?
By Mainly Macro
Yesterday Fred Bergsten and Jacob Kirkegaard at VoxEU sound a much more optimistic note about the ability of European leaders to see their way through the Eurozone crisis. They say “We therefore believe the Eurozone crisis – despite the ...
mainly macro

Eurozone M3 Money Supply up 1.6% vs 2.2% expected for year ...
By Vincent Facchino
Private loans up 1.0% vs 2.1% for year. Eur/Usd has dipped below 1.31 to trade at 1.3092. Categories: Forex News | Tags: Euro. No Responses to “Eurozone M3 Money Supply up 1.6% vs 2.2% expected for year”. Add a comment ...
Forex News and Commentary by FXDD

Forex Trading: Eurozone M3 Money Supply Up 1.6% Vs 2.2 ...
By Greg Michalowski
Forex Trading: Eurozone M3 Money Supply Up 1.6% Vs 2.2% Expected For Year. By Greg Michalowski on January 27, 2012 | More Posts By Greg Michalowski | Forex News By FXDD · Subscribe by RSS · Email/Share Page · Tweet ...

Sober Look: Restoring confidence in Eurozone's sovereign credit ...
By Walter Kurtz
Restoring confidence in Eurozone's sovereign credit markets. Portuguese bonds continue to sell off as the market focuses on Portugal becoming the next Greece. Portuguese spreads have completely decoupled from the rest of the Eurozone ...
Sober Look

Stratfor: Eurozone Prepares to Eject Greece | Global Macro Monitor
By macromon
Be the first to like this post. This entry was posted in Black Swan Watch, Euro, PIIGS, Sovereign Debt, Sovereign Risk and tagged Ejection, Euro, Eurozone, Greece. Bookmark the permalink. ← Lagarde: The Trillion Dollar Woman and Best IMF ...
Global Macro Monitor

XE.com - HIGHLIGHTS-Euro zone finmins speaking in Davos
Following are comments by euro zone finance ministers speaking at the annual World Economic Forum meeting of political and business leaders on Friday.
XE Forex News

JPMorgan's Dimon Says Bank Stayed in Eurozone Periphery for ...
By Stefan B
JPMorgan's Dimon Says Bank Stayed in Eurozone Periphery for 'Social Reasons'. Jamie Dimon, the chief executive of JP Morgan Chase, is sticking with decisions to invest heavily in the eurozone “for social reasons”. by Jeremy Warner ...

Germany unable to cope with eurozone debt crisis alone : Voice of ...
Germany is unable to cope with the debt crisis in the eurozone on its own. This opinion was expressed in an interview for the newspaper "Le Figaro" by chairman of the Eurogroup, Prime Minister of Luxembourg Jean-Claude Juncker.
Voice of Russia, News

Tension over size of eurozone firewall
Tension over size of eurozone firewall. published about 7 hours ago. Fresh tensions emerge between France and Germany over the eurozone rescue despite expectations a deal to restructure Greece's debt is imminent. Financial Times - ...
NewsOnFeeds.com World News

Euro Zone May Yet Escape Recession as Services Jump - EU ...
The euro zone may yet escape recession thanks to a surprise upturn in the service sector that outweighed the ongoing contraction in manufacturing this month, ...

Austerity Fails: Eurozone Countries in Mass Downgrade | Common ...
S&P said austerity was driving Europe even deeper into financial crisis as it also cut Austria's triple-A rating, and relegated Portugal and Cyprus to junk status.

The coming resolution of the Eurozone crisis | vox - Research-based ...
Policy reactions to the Eurozone crisis are seen by many as short-sighted, incoherent, and driven by political expediency. This column disagrees. What we are ...

Eurozone: Fiscal or trade crisis? - Economic Times
Most people think of the eurozone crisis as a fiscal crisis. They see the southern European countries collectively called the PIIGS (Portugal, Ireland, Italy, Greece ...

Euro Crisis - Google News

Fiscal Cliff - Google News

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