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

Saturday, January 21, 2012

Greek unknowns feed contagion fears

Greek unknowns feed contagion fears
Financial Times
Even if there is a deal, the fate of one of the eurozone's smallest countries could upset the best start to a year for markets in decades. A Greek deal poses far more questions than it answers, says Nick Gartside, international chief investment officer ...

Financial Times

Euro Zone's Lingering Long-Bond Problem
Wall Street Journal
By RICHARD BARLEY The European Central Bank has dished out three years' worth of painkillers, but the euro zone still has a longer-term headache. Tensions in the Spanish and Italian government-bond markets have clearly eased since the ECB provided €489 ...

Wall Street Journal

Global financial crisis to bring out scam artists
Herald Sun
SCAM artists will ratchet up efforts to defraud Australian household investors as the global economy stutters, fraud experts warn. As new figures reveal almost 2 per cent was stripped from the average superannuation fund last year, experts say frauds ...

New treaty draft allows court to fine eurozone states that don't adopt ...
Washington Post
BRUSSELS — Europe's highest court should be able to fine states that fail to adopt sufficiently strict laws against overspending, according to the latest draft of a new eurozone treaty. The fines of as much as 0.1 percent of a country's gross domestic ...

Eurozone solution: Save banks, not nations
Christian Science Monitor
The eurozone needs an enforcer who can tell lawmakers what they don't want to hear: They have to let some eurozone nations fail and make sure eurozone banks don't. By Axel Merk, Contributor / January 20, 2012 In this 2009 file photo, the logo of German ...

Christian Science Monitor

Eurozone crisis events are like Hindi movies in cinema: Premji
NDTV
For IT czar Azim Premji, what's happening in the eurozone facing a two-year debt crisis is something like new Bollywood films hitting silver screens every week in India. "I think what you are really seeing in Europe is like a Hindi movie - it's a ...

Bailouts only buy time for eurozone: German minister
AFP
WASHINGTON — Endless rescue packages for indebted economies are not the answer to the eurozone's woes, German Foreign Minister Guido Westerwelle insisted Friday, urging fiscal reform at the region's roots. Speaking a day after Greece announced talks ...

AFP

Oil prices fall as Greece debt negotiations spark concerns about Europe's ...
Washington Post (blog)
The talks are a key part of broader efforts to deal with Europe's financial crisis. There have been concerns that the crisis could affect the global economy and reduce demand for oil and other energy products. Benchmark oil fell $1.62 to $98.92 per ...

Brent crude rises on euro zone optimism
Reuters
By Gene Ramos | NEW YORK (Reuters) - Brent crude oil futures climbed back in late trading to end almost 1 percent higher on Thursday on an easing of worries over the euro zone debt crisis and signs of steadier global economic growth. ...

Eurozone optimism inspires local investors
The Australian
IMPROVING market sentiment about Europe's sovereign debt crisis and the US economy buoyed the Australian sharemarket yesterday. The benchmark S&P/ASX 200 closed up 0.6 per cent at 4239.6 after base metal prices rallied early yesterday and shares on ...

Will Economic Crisis in Eurozone Affect Solvency II?
PropertyCasualty360
In Italy, the Eurozone's third-largest economy, the coupon on 10-year notes once again has eclipsed the threshold watermark of 7 percent—and recent Italian unemployment data reinforces this negative trend. And Germany, the largest and most robust ...

Schlumberger Beats in 4Q, But Warns of Eurozone Threat
Fox Business
However, the nation's largest oilfield services provider warned uncertainty remains in 2012 because of the ongoing debt crisis in the eurozone, which places downward pressure on GDP and oil demand forecasts. The International Energy Agency cut its ...

World Bank: Second financial crisis possible
People's Daily Online
Q: Will Europe fall into a financial crisis again? A: The rating agency Standard & Poor's has successively downgraded the credit rating of nine countries in the euro zone like France, the debt risks of the euro zone are far from stopping, ...

Eurozone Turmoil Will Create A Buy Opportunity For These White Hot Financials
Seeking Alpha
These stocks hit a low in November at the height of eurozone despair. Since that point, they have been on an absolute tear. The seven stocks are up an average of 23% since with Morgan Stanley leading the way with a 32% gain and Bank of New York Mellon ...

Euro Zone Is Stung As Oil Costs Rise
Wall Street Journal
Because oil is traded in dollars on the global market and the euro has depreciated in value against the dollar in recent weeks, individuals and companies in the euro zone have seen their energy costs rise, even though consumption has shrunk as the ...

Art lovers flock to the eurozone's crisis capitals
Financial Times
The Iberian economies may be in the dumps because of the eurozone's sovereign debt crisis, but never has Madrid's “golden triangle” of art museums welcomed so many visitors from near and far. The Prado, the Reina Sofía (home of Picasso's Guernica, ...

IMF slashes global forecast on eurozone crisis, with drastic falls in Italy ...
Telegraph.co.uk
The International Monetary Fund has slashed its global growth forecast for this year and exhorted the European Central Bank to boost liquidity to stave off a deepereurozone crisis. Italy's economy will contract by 2.2pc and Spain's by 1.7pc, ...

Telegraph.co.uk

Paris and Berlin look to bring back tax on share trading
Financial Times
Ms Merkel and her finance minister, Wolfgang Schäuble, have both spoken in favour of introducing an FTT for the 17-member eurozone alone, if the UK blocks the proposal for the full 27-member EU. But Mr Rösler's liberal Free Democratic party, ...

Eurozone 'back in recession this year'
The Independent
The International Monetary Fund will next week forecast a return to recession for the eurozone in 2012, a move likely to increase the pressure on governments to contribute to its latest $600bn (£388bn) fundraising drive. The IMF is scheduled to release ...

Has Portugal's debt default clock begun to tick?
Reuters
By Axel Bugge | LISBON (Reuters) - Portugal clinched a deal on ambitious labor market reforms this week and carried out its biggest debt sale since seeking a 78-billion-euro bailout, but the challenges for the second-most risky country in the euro zone ...

Crisis in the Eurozone: The Reality of the European Downgrades
Money Morning
By Jack Barnes, Global Macro Trends Specialist, Money Morning That included dropping Austria and France to AA+ status from their formerly lofty AAA rating. While the decision was expected, and will most likely be followed by additional downgrades from ...

Learn from eurozone crisis, EAC urged
IPPmedia
By The guardian reporter The government has been urged to take precautionary measures before endorsing the East African Monetary Union to avoid a crisis similar to that gripping the Eurozone. Speaking soon after a public lecture in Dar es Salaam on ...

S Korea Won Up Late On Euro Zone Optimism; Bonds Down
Wall Street Journal
SEOUL (Dow Jones)--The South Korean won was higher against the US dollar late Friday as concerns about the euro zone's debt troubles eased somewhat following successful debt auctions in Spain and France Thursday and as hopes grew for progress on Greek ...

New eurozone compromise deal to be put to Poland
thenews.pl
As EU president Herman van Rompuy prepares for a visit to Warsaw next week, a compromise draft has emerged on whether non-eurozone states, such as Poland, can take part in eurozone negotiations. Prime Minister Donald Tusk said this week that Poland ...

Spreads tighten on euro zone funding relief, Winsway tumbles
Economic Times
HONG KONG: Asian credit spreads compressed and new issues rallied on the back of positive global risk sentiment but Chinese high yield industrial bonds underperformed following fraud allegations about Winsway Coking Coal's books. ...

Global Financial Crisis Hits Canadian Banks
Marketwire (press release)
NEW YORK, NY--(Marketwire - Jan 20, 2012) - Shares of Canadian banks took a hit earlier this month after Barclays Capital lowered its rating on the Canadian financial services sector, saying domestic and global headwinds are likely to slow earnings ...

Gulf banking 'has low exposure to euro crisis'
gulfnews.com
He added that in the 2008 financial crisis "the GCC governments did not bail out any bank in the region because of our strong and strict banking regulations." "The Mena capital adequacy is well capitalised and our banks are strong enough, ...

gulfnews.com

Meaningful improvement in Eurozone fundamentals
By Scott Grannis
Here's a quick recap of important indicators of financial market health, which all register substantial improvement, especially in the Eurozone. Even though a Greek default is a virtual certainty (Greek 2-yr yields today are 180%), these ...
Calafia Beach Pundit

Euro Crisis: 50% of Firms Stuck Behind the Planning Eight Ball
By Kristin Moyer
Results of the polling revealed that 50% of respondents covering all industries have no contingency plans in place to manage a worsened euro crisis. We urge clients to better prepare themselves via accessing existing research available on ...
Kristin Moyer

Which Etfs Could Suffer From Latest Euro-Zone Downgrades ...
My main question: What took them so long? The bigger news came Monday when S&P also downgraded the European Financial Stability Facility (EFSF). EFSF is the mechanism that was supposed to save the euro zone's unstable members.
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EU financial crisis…Billion$$ in aid to Guyana unaffected-envoy ...
By KNews
Europe's financial crisis will not affect the billions of dollars in developmental program being carried out in Guyana, officials of the European Union (EU) said yesterday. According to John Caloghirou, Head of the Caribbean Unit of the ...
Kaieteur News

Eurozone Debt Crisis, The Reality of the European Downgrades ...
Eurozone Debt Crisis, The Reality of the European Downgrades :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle

XE.com - U.S. crude ends lower on euro zone concerns, China
U.S. crude oil futures fell for a third straight day on Friday as investors awaited a potential debt-restructuring deal that would allow Greece to avoid a crippling debt default and as signs of weakness in China's factory activity stoked demand...
XE Forex News

Laggards or performers? CEE vs. PIIGS countries' catch-up with the ...
By repec
This research paper develops a comparative analysis between the new members states of the European Union (EU) – from Central and Eastern Europe (CEE) – and PIIGS countries (Portugal, Italy, Ireland, Greece and Spain) in terms of ...
PoliEcon

Finance and treasury: Potential break-up of the Eurozone: overview ...
By PwC
The unprecedented levels of uncertainty experienced in the Eurozone during 2011 are expected to continue into 2012. PwC have considered a range of potential scenarios for 2012 (see PwC paper What next for the ...
Finance and treasury
The Australian economy withstood the global financial crisis but a ...
By JR
It survived the global financial crisis and won acclaim for its strength in adversity. But the Australian economy now finds itself at the crossroads, spooked by a jobs crisis not seen since Paul Keating's "recession we had to have". Australia's ...
A Western Heart

The euro crisis: Checking in on Europe | The Economist
Given a number of positive developments in the euro zone—like fairly successful debt auctions for Spain and Italy, and corresponding drops in bond yields—it's worth keeping a close eye on the situation to make sure that something important ...
Free exchange

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