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

Thursday, January 19, 2012

Growing Worries Cast Shadow Over Eurozone

Growing Worries Cast Shadow Over Eurozone
Voice of America (blog)
European leaders are again trying to face down doubts they can overcome the eurozone debt crisis, as a growing unease spreads across the continent. Thousands of protesters took to the streets of Paris and Athens Wednesday, angry over government ...

Eurozone 'Will Not Disintegrate'
HispanicBusiness.com
Regling, however, was emphatic that speculation in London and on Wall Street that the euro zone will disintegrate and the euro will disappear was misinformed. "No country will be forced to leave the euro area," he said. "It is not a policy objective....

HispanicBusiness.com

Hungary Crisis Stokes Fears Of Debt Contagion
Voice of America
January 18, 2012 Hungary Crisis Stokes Fears Of Debt Contagion Henry Ridgwell | London The European Union is launching legal action against Hungary over new legislation passed in Budapest, which the EU claims breaks European law. ...

Eurozone debt crisis to cost Canada $10B in 2012: BoC
CTV.ca
The report predicts that the eurozone debt crisis will hold back Canada's economic growth by about 0.6 per cent in 2012, equivalent to about $10 billion. The cost to the global economy is forecast at one per cent, while the cost to the US economy is expected to be about 0.8 per cent. ...

Euro zone, Finland close to deal on bailout fund voting
Reuters
By Jan Strupczewski | BRUSSELS (Reuters) - The euro zone and Finland are close to a deal on a new voting system for a 500 billion euro bailout fund central to fighting the debt crisis, euro zoneofficials said, which would remove one of the last ...

IMF Said to Seek $1 Trillion Boost to Insulate Economies From Euro Crisis
Bloomberg
Enlarge image Christine Lagarde Christine Lagarde Nelson Ching/Bloomberg Christine Lagarde, managing director of the International Monetary Fund (IMF), attends the International Finance Forum (IFF) 2011 Annual Conference in Beijing. ...

Bloomberg

Financial crisis: get ready for next wave
Sydney Morning Herald
AUSTRALIA should brace for a return to the ''ugliest'' of times if the latest World Bank warning of a new financial crisis proves correct, a leading economist says. The World Bank yesterday signalled a downturn so severe it would eclipse the chaos that ...

Sydney Morning Herald

Analysis: Robust German economy won't mean largesse or diktat
Reuters
But Germany knows that the downgrades inflicted on close euro zone partners like France and Austria, and on the bloc's rescue fund, are likely to mean more demands on its generosity, and it may not relish the extra burden of responsibility. ...

Excess cash pushes Euribor rates to 9-1/2 mth lows
Reuters
FRANKFURT, Jan 18 (Reuters) - Key euro zone bank-to-bank lending rates fell to their lowest since last March on Wednesday, pushed down by a glut of excess liquidity in the money market and expectations of further official interest rate cuts. ...

Should Oil Consumers Hope for a Euro Zone Slump?
Wall Street Journal (blog)
By James Herron The disruption caused by planned sanctions against Iranian exports of crude this year could put the oil market back in the kind of uncomfortable position not seen since July 2008, when prices hit an all time high of $147 a barrel. ...

Atradius Believes Eurozone Breakup Unlikely
Sacramento Bee
By Atradius NV International credit insurer Atradius NV said in a recent economic report, 'Sticking together - The future of the Eurozone', that the consequences of a breakup of the Eurozone would be highly damaging for a country that leaves the euro ...

Eurozone crisis live: Greek bondholders close to deal with government
The Guardian
The contagion aspect of this deal has not gone away and no doubt there are some investors who are concerned that if the economic situation in certain countries deteriorates then the Greek deal could be used as a template for others. ...

The Guardian

Eurozone close to recession: Juncker
AFP
BRUSSELS — The eurozone is close to recession, Jean-Claude Juncker, the Luxembourg premier who heads the eurogroup, said Wednesday after the World Bank slashed its global growth forecasts. "In the eurozone we are on the brink of a technical recession ...

AFP

Canada Fin Min: Euro Zone Commitment To Crisis Not Enough
Wall Street Journal
OTTAWA (Dow Jones)--Euro-zone leaders have yet to pledge enough financial firepower to combat their sovereign-debt crisis, Canadian Finance Minister Jim Flaherty said Wednesday. Until that happens, he said, Canada and other Group of 20 members won't ...

Euro crisis puts UK companies in 'vicious cycle'
Telegraph.co.uk
The Eurozone debt crisis is creating a “vicious cycle” of delayed payment among UK companies, an analysis of foreign exchange payments reveals. A rally in Athens against the ongoing austerity measures last year. Spikes in delayed payments among...

Telegraph.co.uk

Fidelity's O'Neil Now Holds Zero Euro-Zone Sovereign Bonds
Wall Street Journal
By Min Zeng Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--For now, euro-zonegovernments can't count on any extra money from top Fidelity Investment bond manager Ford O'Neil to bolster their crisis-wracked debt markets. The co-manager of the $14 billion ...

Goldman Sachs sees opportunities in eurozone crisis
Telegraph.co.uk
Goldman Sachs is starting to see "some glimmer of opportunities" in Europe from a crisis that sent profits at the Wall Street bank tumbling last quarter. By Richard Blackden, US Business Editor Profits at Goldman plunged 58pc to $1.1bn (£714m) in the ...

Italy's Monti urges better euro-zone governance
MarketWatch
By Polya Lesova LONDON (MarketWatch) -- Italian Prime Minister Mario Monti called for more effective governance of the European Union and the euro zone in order to tackle the sovereign debt crisis. Speaking at the London School of Economics and ...

Citi's Turnaround Plan Hits Euro Crisis Speedbump
Wall Street & Technology
The results also show that Citigroup, which had to be bailed out by the US government during the financial crisis, still has a long way to go and the global economy and regulatory environment are not helping, even though the New York-based bank has ...

S&P Follows up on Euro Zone Rating Actions
Insurance Journal
Nine of the ratings out of the 17 euro zone member countries were lowered, while S&P affirmed the ratings on the other seven euro zone countries. All of the countries were then removed from S&P's CreditWatch. However, S&P's bulletin stated: “The bias ...

A Different Take on the Euro Zone Debt Crisis: Blame It on the Sun
Huffington Post (blog)
They are solidly soldiering through the Euro Zone Debt Crisis that has rocked the financial and political structures of their mostly southern neighbors. While Greece has received a €110 billion loan from the International Monetary Fund and its euro ...

Euro crisis becomes a windfall for regional advertising sector
gulfnews.com
This is according to the creative head of DDB Worldwide, part of Omnicom Group Inc. "With the ongoing Eurozone crisis, global companies are definitely shifting their focus from Europe to other markets such as the Middle East in terms of advertising and ...

gulfnews.com

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 and Spain) with huge debt/GDP ratios or huge fiscal deficits that look unsustainable, ...

TEXT-Fitch:Swedish credit markets expect nordic region to avoid contagion
Reuters
(The following statement was released by the rating agency) Jan 18 - According to a delegate voting poll taken at Fitch Ratings' European Credit Outlook seminar in Stockholm yesterday, 60% of participants do not see contagion from the Eurozone crisis ...

Czech government wants lower loan to IMF as part of eurozone effort to stop ...
Washington Post
Necase also sounded cautious on a new European treaty — proposed by the 17 eurozone nations but open to all EU countries to join — that would give bureaucrats in Brussels greater oversight of budgets. Necas said the government would propose to hold a ...

Gold off one-month high; euro zone eyed
Economic Times
Gold edged higher on Wednesday, but traded below the one-month high hit in the previous session on an improved global economic outlook, while investors shifted focus once again to the troubles of the euro zone. Gold rallied with riskier assets on ...

Italy Critical For Euro Zone's Future - Fitch
Wall Street Journal
"Italy is absolutely critical for the future of the euro zone," Edward Parker told a seminar organized by the credit ratings agency, MF-Dow Jones reports. "With the [former Prime Minister Silvio] Berlusconi government an opportunity was lost to do ...

Eurozone also at risk of currency crisis, warns Dagong
Fundweb
Chinese ratings agency Dagong Global Credit Rating has warned that the eurozonedebt crisis could morph into a currency crisis as the year progresses. In its annual outlook, the agency also argues that the US could eventually prove a greater threat to...

Fundweb

How China's Boom Caused the Financial Crisis - By Heleen Mees ...
By HELEEN MEES
Since the 2008 financial crisis, Wall Street has been the perpetual whipping boy for the ensuing recession that has rocked the global economy. In the United States, Manhattan bankers relied too heavily on subprime mortgages, the story goes, ...
Foreign Policy

Gold Futures Add To Losses As Euro Zone Debt Fears Linger
By Forexpros
Forexpros – Gold futures added to losses on Wednesday, easing further off the previous session's four-week high as concerns over the euro zone's sovereign debt crisis continued to weigh on market sentiment. On the Comex division of the ...
DailyMarkets.com

- Alpha.Sources - Banking follies in the eurozone
By CV
Edward Hugh has a brilliant analysis of recent events in the eurozone and especially how banks are leveraging the liquidity provided by the ECB to "cleanse" their balance sheet of bad assets and essentially exchanging these for freshly ...
Alpha.Sources

The Costs of Eurozone "Slippage" | Gold News
By Eric J.Fry
Gold News - Gold Market Analysis & Gold Investment Research - Gold Price Commentary & Forecasts.
Gold News - Gold Market Analysis...

Euro Crisis Part XVII: Boardgame Edition — The Monkey Cage
By Joshua Tucker
In this exciting new version, the value of the properties go down once you buy them and the bank has no money….
The Monkey Cage

Euro Crisis: World Bank warns developing nations
By ojiego
Euro Crisis: World Bank warns developing nations. On January 18, 2012 · In News · Tweet. By Emeka Aginam. As Euro area debt problems and weakening growth in several big emerging economies are dimming global growth prospects, the ...
Vanguard News

XE.com - Euro zone, Finland close to deal on bailout fund voting
The euro zone and Finland are close to a deal on a new voting system for a 500 billion euro bailout fund central to fighting the debt crisis, euro zone officials said, which would remove one of the last obstacles to the scheme's launch in July.
XE Forex News

Gold futures add to losses as euro zone debt fears linger By Forexpros
By Forexpros
Gold futures add to losses as euro zone debt fears linger.
Forex Pros RSS News Feed | Forex News

THE WEEKLY GLOBAL INVESTOR: EURO CRISIS : ECB MULLING ...
By JUANCARLOSHI
Created in 2007 to give you a timely warning about the causes and consequences of the next globalfinancial crisis since 1997, through the exposition of fundamental events analysis. ---(Tuesday Through Thursday Updates: 3 p.m. México City ...
THE WEEKLY GLOBAL INVESTOR

Stocks Rising into Final Hour on Less Eurozone Debt Angst
By Gary
BOTTOM LINE: Today's overall market action is very bullish, as the S&P 500 trades at session highs, convincingly above its late-Oct. high, on less Eurozone debt angst, less financial/tech sector pessimism, short-covering and better US ...
BETWEEN THE HEDGES

As Euro Crisis Heightens, Germans Resist Tapping Foreign ...
By hans
<a href:”http://german.pomona.edu/wp-content/uploads/2012/01/As-Euro-Crisis-Heightens-Germans-Resist-Tapping-Foreign-Students-for-Revenue-Global-The-Chronicle-of-Higher-Education.pdf</a>. Posted at January 18th, 2012 | Tags: ...
German Program

EURO CRISIS : ECB MULLING ALTERNATIVES TO BOND-BUY ...
By juancarlosnavanava
EURO CRISIS : ECB MULLING ALTERNATIVES TO BOND-BUY PLAN – NOWOTNY ! ECB mulling alternatives to bond-buy plan – Nowotny. via ECB mulling alternatives to bond-buy plan – Nowotny | Reuters. ...
JUAN CARLOS NAVA'S BLOG

S&P downgrades euro zone rescue fund, Greece pressured | Reuters
BRUSSELS (Reuters) - U.S. rating agency Standard & Poor's cut its credit rating of the euro zone'sEFSF rescue fund on Monday, and Greece was under ...
www.reuters.com/.../us-eurozone-idUSTRE80E0RN20120116

Asian Markets Lower After Euro-Zone Downgrades
Asian markets started lower Monday tracking weekend losses in overseas markets after Standard & Poor's.
news.morningstar.com/articlenet/article.aspx?id=532823

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