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

Saturday, January 14, 2012

France Loses AAA as Greek Talks Break Down


France Loses AAA as Greek Talks Break Down - Bloomberg: "France was stripped of its top credit rating by Standard & Poor’s and banks suspended talks with Greece over debt restructuring, the first blows this year to efforts aimed at stemming Europe’s fiscal turmoil."

S&P Cuts Credit Ratings for Nine Euro Zone Nations - Business News - CNBC: "S&P lowered its long-term rating on Cyprus, Italy, Portugal and Spain by two notches, and cut its rating on Austria, France, Malta, Slovakia and Slovenia by one notch. "Today's rating actions are primarily driven by our assessment that the policy initiatives that have been taken by European policy makers in recent weeks may be insufficient to fully address ongoing systemic stresses in the euro zone," S&P said in a press release announcing the downgrade."

Eurozone crisis: signs of hope … then credit agencies strike
The Guardian
But around lunchtime rumours surfaced that the ratings agency S&P had chosen this singularly inappropriate moment to detonate the bomb that has been waiting to go off for the past five weeks – a debt downgrade of eurozone countries. ...

The Guardian

Looming downgrades, Greek debt impasse hit euro zone |
Reuters
By Matthias Sobolewski and Dina Kyriakidou | BERLIN/ATHENS (Reuters) - Standard & Poor's was set to downgrade the credit ratings of several euro zone countries on Friday, including France and Austria but not Germany or the Netherlands, ...

Euro tumbles vs dollar, yen on euro zone downgrade talk
Reuters
A senior euro zone government source said Standard & Poor's is set to downgrade the ratings ofeuro zone countries, but not Germany's. This was later confirmed by French Finance Minister Francois Baroin, who said France and other euro zone countries ...

Stocks slide on eurozone downgrade chatter
CNN
By Hibah Yousuf @CNNMoneyMarkets January 13, 2012: 3:04 PM ET NEW YORK (CNNMoney) -- US stocks were under pressure Friday as anxious investors reacted to a report suggesting that Standard and Poor's may downgrade several eurozone countries later in the ...

Gold falls 1 percent on euro zone downgrade talk
Reuters
By Frank Tang and Jan Harvey | NEW YORK/LONDON (Reuters) - Gold fell 1 percent on Friday, after the dollar surged against the euro and fears about an imminent credit downgrade of euro zonecountries prompted bullion investors to take profits on the ...

Dimon says Eurozone regulations make no sense
Financial Times
By Tom Braithwaite in New York Jamie Dimon, chief executive of JPMorgan Chase, said on Friday that European policymakers were “making the situation worse, not better”, prolonging the eurozonecrisis with contradictory directives. ...

France loses AAA-rating in blow to eurozone
Chicago Sun-Times
Baroin said France had received a change to its rating “like most of the eurozone,” referring to the 17 European nations that use the euro currency, but there was no confirmation from S&P that any other nation had been downgraded. ...

Euro Zone Posts Rare November Trade Surplus
Wall Street Journal
By ALEX BRITTAIN LONDON—A surge in exports helped the euro zone post a major surplus on trade with the rest of the world in November, an unexpected development that could boost hopes that the region will avoid a severe economic downturn. ...

Britain's FTSE hit by euro zone rating fears
Reuters
A senior euro zone government source said S&P would cut credit ratings for several euro zonecountries later on Friday, although not for Germany or the Netherlands. S&P declined to comment. The big question, said traders, was what would happen to the ...

METALS-Copper dips on euro zone downgrade speculation
Reuters
S&P could downgrade several euro zone countries on Fri - source * Tepid Italian debt sale signalseuro zone crisis not over * Copper cancelled warrants climb to highest since May 09 By Tom Childs and Harpreet Bhal LONDON Jan 13 (Reuters) - Copper ...

Financial News: Euro-Zone Finance Industry Hits Tobin Tax
Wall Street Journal
By Sebastian Walsh Of FINANCIAL NEWS Trade bodies representing the Dutch finance industry have warned that a euro-zone Tobin tax could cost the country's institutional investors over EUR4 billion a year--and cut the value of pensions by up to 10%. ...

Stocks Tumble on Eurozone Downgrade Fears
TheStreet.com
By Chao Deng 01/13/12 - 09:47 AM EST NEW YORK (TheStreet) -- US stocks opened lower Friday as investors feared that credit rating agency Standard & Poor's may downgrade some eurozone countries later in the day. Standard & Poor's will cut debt ratings ...

TheStreet.com

TSX down on eurozone rating downgrade talk, gold, oil prices drop
Proactive Investors USA & Canada
Toronto's main market was lower Friday on speculation that Standard & Poor's will cut its ratings on some eurozone countries later today, rekindling fears about the region's debt crisis. As at 11.35am EDT, the S&P/TSX Composite was down 116.37 points, ...

Proactive Investors USA & Canada

Eurozone Sovereign Spread Tightening
Wall Street Pit
By Global Macro Monitor Jan 13, 2012, 2:00 PM Author's Website After the better than expected Spanish bond auction, eurozone sovereign spreads have come in significantly today. The widely watched Italian 10-year bond yield fell to 6.63 percent. ...

Eurozone Breakup Twice as Likely; Housing Could Surge: BofA Survey
CNBC.com
The January survey saw muddle through as the top choice by a wide margin, with 57 percent of the respondents expecting the Eurozone to survive but struggle. The potential for an ECB QE program tumbled all the way in half, to 19 percent, ...

Analysis: S&P downgrades to cut EFSF firepower, boost firewalls
Reuters
By Jan Strupczewski and Robin Emmott | BRUSSELS (Reuters) - Euro zone rating downgrades expected to be announced on Friday will substantially cut the lending power of the EFSF, especially if the euro zone bailout fund insists on keeping its AAA rating, ...

Euro-Zone Bond Yields Rise On S&P Ratings News
Wall Street Journal
LONDON (Dow Jones)--Peripheral bond yields reversed Friday early falls and moved sharply higher on news that several euro-zone countries could face an imminent ratings downgrade by Standard and Poor's. The Italian 10-year yield added 20 basis points to ...

Euro crisis reaches far beyond Europe
Hindustan Times
The “interconnectedness” of economies around the world became startlingly clear in the aftermath of the collapse of Lehman Brothers in 2008, as the shock was transmitted and amplified through financial markets. that as the euro zone slowdown bites in ...

Mortgage Rates: Low Mortgage Rates Continue As Investors Worry Over Euro Zone ...
FreeRateUpdate.com
Current low mortgage rates continue today as investors are worried once again over the future of theEuro zone after reports of a possible downgrade to several countries. Also happening today, Greek debt talks have come to halt without a solid solution ...

Oil falls on euro zone worries, eyes Nigeria and Iran
Yahoo!7 News
By Robert Gibbons NEW YORK, Jan 13 (Reuters) - Oil prices fell on Friday as anticpation of a credit downgrade for some euro zone countries pressured the euro and equities, countering the supportive effect of potential supply disruptions in Nigeria or ...

Markets fall on eurozone downgrade talk, with Vodafone hit by continental concerns
The Guardian (blog)
After a calm start, markets headed south again as speculation swirled round about Standard & Poor's downgrading of a number of eurozone members. Among the biggest fallers was Vodafone, down 2.5% or 4.5p to 175p on concerns about the effect of the ...

Will BRICS Save Eurozone From Crisis?
«Market Leader» - news and previews making you rich.
The eurozone is on the verge of collapse. Another attempt to resolve the crisis has failed. The multiple loans generously provided by the IMF, the EFSF and the World Bank to the sick eurozone economies of Greece, Portugal , Ireland hasn't made a ...

«Market Leader» - news and previews making you rich.

Berlin Urged to End Austerity Measures
Inter Press Service
Although almost all 17 members of the Eurozone currently suffer from sovereign debt, financial markets sanction each of them differently by imposing different interest rates for new state debt bonds. For instance, Germany, which has a sovereign debt of ...

Ireland's Market Return Rests On Resolving Wider Euro Crisis-NTMA
Wall Street Journal
By Eamon Quinn DUBLIN (Dow Jones)--The head of Ireland's debt office, the National Treasury Management Agency, said Friday that Ireland is winning over investors with its adherence to its bailout program, but that resolving the wider euro-zone debt ...

Will Europe's financial crisis stall foreign home buying activity?
Forbes
He explains that “as Europe's financial crisis turns into a deeper recession, Europeans will spend less on nearly everything, including real estate. But for those Europeans who would still be in a position to invest, US assets — including US real ...

Dollar Rockets To Fresh 16-Month High Versus Euro; Euro Zone Downgrades Coming
NASDAQ
(RTTNews.com) - The dollar surged to a fresh 16-month high versus the euro on Friday, amid numerous reports suggesting that S&P will downgrade 15 euro zone nations due to exposure to Italian, Greek, and Spanish debt. France's finance minister just ...

Loonie lower on reports of euro zone cuts
Reuters Canada
The possible downgrades would not include Germany and the Netherlands, a senior euro zonegovernment source said. It was unclear which or how many countries' debt ratings S&P would cut. "It's a wholesale move back into the US dollar and the Japanese ...

OIL FUTURES: Nymex Crude Rebounds; Euro Zone, Iran To Remain Focus
Wall Street Journal
Crude market sentiment is now back to neutral between worries over euro-zone economies and possible supply disruptions due to greater sanctions on Iran, Newedge Japan trader Yusuke Seta said. Thursday's more-than-2.5% fall on Nymex was "a correction," ...

Sensex rebounds 117 pts on easing eurozone debt worries
Hindustan Times
PTI The BSE benchmark Sensex today recovered by 117 points on buying funds on hopes of rate cut by RBI after softening inflation and easing worries over eurozone debt crisis. The 30-share index gained 117.11 points, or 0.73% to close at 16154.62 with ...

Euro zone crisis: a pause for reflection
GlobalPost (blog)
Was Silvio Berlusconi's departure the turning point for the euro zone debt crisis? (ANNE-CHRISTINE POUJOULAT/AFP/Getty Images) There is probably no riskier form of behavior for a blogging journalist than to claim that a corner has been turned in ...

Bottom Line - Stocks drop amid reports of euro zone cuts
By msnbc.com news services Wall Street stocks sank Friday, amid reports that Standard & Poor's could downgrade the credit rating of several euro zone members. The Dow Jones industrial average was lately down over 120 points.
Newsvine - Bottom Line - Articles

Business cycles: Tracking the euro-zone economy in real time | The ...
A resolution, in turn, will be difficult to come by if the euro zone falls back into recession. If output is shrinking and unemployment rising, then austerity measures are likely to make economic conditions worse while raising very little new revenue ...
Free exchange

S&P Likely To Downgrade Much Of Eurozone
By The Huffington Post News Editors
PARIS -- Mounting speculation that a leading credit agency is to imminently downgrade the ratings of a number of eurozone countries drove global markets sharply lower Friday and sent the euro currency spinning down to a 17-month low.
The Huffington Post | Full News Feed

Hedge Fund On Greek Eurozone Exit: 'The Word Catastrophic ...
By Joe Weisenthal
drachmas greece. Wikipedia. From Reuters via Ekathimerini, London-based hedge fund Toscafund is warning of Zimbabwe-like hyperinflation should Greece attempt to leave the Euro. In a stark note to clients, chief economist Savvas Savouri ...
Business Insider

WPR Article | EU Must Restructure Debt to Solve the Eurozone Crisis
By info@worldpoliticsreview.com (John Ryan)
From the start, the eurozone crisis has been a battle over who will ultimately be liable for the losses on sovereign debt held by European financial institutions. For political reasons, the EU has implemented what amounts to a covert bank ...
World Politics Review: Articles

What would eurozone downgrade mean? – Business 360 - CNN ...
By CNNi blog producer
London (CNN) -- European markets were given a final-hour fright Friday upon reports of an imminent downgrade for eurozone countries by ratings agency Standard & Poor's (the influential credit assessors declined to comment when ...
Business 360

France downgraded, other Euro Zone counties would be hit | Ya ...
By syh
In December, S&P placed the ratings of 15 euro zone countries on credit watch negative— including those of top-rated Germany and France, the region's two biggest economies—and said “systemic stresses” were building up as credit ...
Ya Libnan

XE.com - UPDATE 1-Euro zone trade surplus reaches 2-year high in ...
The euro zone posted its biggest trade surplus since mid-2009 in November, EU data showed on Friday, as exports grew at more than twice the rate of imports and signalled that Europe's economy may escape a prolonged downturn.
XE Forex News

Stocks Slide On Eurozone Downgrade Chatter - Project Economy ...
NEW YORK (CNNMoney) -- U.S. stocks were under pressure Friday as anxious investors reacted to a report suggesting that Standard and Poor's may downgrade several eurozone countries later in the day. ... Friday, January 13, 2012.
WPBF.com - Money Headlines

Bye-Bye AAA: Euro Zone ETFs Hit After France Downgrade | Benzinga
By ETF Professor
This is the first time France, the Euro Zone's second-largest economy, has lost its AAA rating. Austria is expected to lose its AAA status and despite a strong bond auction earlier this week, S&P cut Italy BBB+ from A, Bloomberg reported citing ...
Benzinga - Stock Market Quotes,...

The euro crisis: Just a tiny recession | The Economist
The largest destination for its goods is obviously the euro zone. The single- currency area is descending into a dangerous recession. Since much of the euro ...
www.economist.com/blogs/freeexchange/.../euro-crisis-0?fsrc...

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