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

Wednesday, January 25, 2012

IMF cuts growth forecasts as euro crisis deepens

IMF cuts growth forecasts as euro crisis deepens
Telegraph.co.uk
The eurozone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said, as it sharply cut its outlook for global growth and called for policies to restore confidence. IMF managing director Christine Lagarde has...

Telegraph.co.uk 

Euro Zone Bounces Back
Wall Street Journal
By BRIAN BLACKSTONE FRANKFURT—The euro zone's private sector unexpectedly expanded in January, raising hopes that the Continent's economy will avoid a severe downturn even in the face of the debt crisis gripping the region's periphery.

Brent slips to $110 as euro zone worries weigh
Reuters
Euro zone talks over Greek debt crisis stall * German manufacturing data points to expansion * Coming Up: API crude stocks weekly data; 2130 GMT (Recasts, updates prices, adds comment) By Yeganeh Torbati LONDON, Jan 24 (Reuters) - Brent crude oil fell ...

Euro Crisis Clouds Global Outlook
Wall Street Journal
In recent days, the International Monetary Fund and the World Bank have sharply reduced their forecasts for global economic growth this year and next, citing one reason: the euro-zone crisis. A combination of higher government borrowing costs, ...

Euro Zone Ministers Reject Private Bondholders' Offer on Greek Bonds
Insurance Journal
By Jan Strupczewski & Andreas Rinke | January 24, 2012 Euro zone finance ministers on Monday rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the ...

Merkel walks fine line on boosting euro firewall
Reuters
By Luke Baker and Noah Barkin | BRUSSELS/BERLIN (Reuters) - Angela Merkel's conservative allies warned on Tuesday against committing additional German funds to euro zone bailout schemes, underscoring how difficult it will be for the chancellor to meet ...

Euro zone unlikely to fall in recession: ECB's Gonzalez
Reuters
NEW YORK (Reuters) - The euro zone is unlikely to slip into a "deep recession" as recent data suggested the economy might rebound in 2012, European Central Bank policymaker Jose Manuel Gonzalez-Paramo said on Tuesday. A surprise upturn in the euro ...

Euro Crisis Spells East Europe Bank Risk, Development Bank Says
Bloomberg
“While the most recent available GDP and other output measures do not at this point show clear signs of a euro-zone slowdown spreading in the region, financial sector, capital flows and leading indicators paint a gloomier picture,” the EBRD said.

Eurozone finance ministers reject private bondholders' offer
FX-MM
Eurozone finance ministers rejected the private bondholders' offer yesterday and asked them to consider a sub-4% yield on new bonds. There was no euro sell-off though, as there was reason for hope thanks to a statement from Germany indicating that it ...

Recovery in euro zone factory orders stalls in November
Reuters
New orders for November fall after October's uptick * Orders in Germany slide; demand for consumer goods rises BRUSSELS (Reuters) - New orders for factory goods in the euro zone fell by less than expected in November, data showed on Tuesday, ...

Eurozone lenders cling tightly to ECB life raft
Financial Times
By Mary Watkins and David Oakley Whether it is a “game changer”, a life raft or buying time, the consensus is that the European Central Bank's €489bn three-year loan liquidity shot last month has averted a credit crunch for the region's banks.

Some Euro-Zone Bears Still Unrepentently Bearish
Wall Street Journal (blog)
Our forecasts assume stock markets in the developed economies will fall in 2012, especially in theeuro-zone itself. We also expect equities in emerging economies overall to underperform those in developed economies. Meanwhile, with the exception of ...

Eurozone debt crisis hits Siemens
Telegraph.co.uk
With the eurozone teetering on the brink of recession, manufacturers such as Siemens are clamouring for factory orders and a shrinking number of energy projects, putting pressure on prices and profits. "The uncertainties of the ongoing debt crisis have ...

Telegraph.co.uk

Germany's low wages caused euro crisis, says report
GlobalPost
(Fabrice Coffrini/AFP/Getty Images) BERLIN, Germany — Germany may be the country contributing most to the euro-zone bailouts, but it may well be paying for a problem of its own making. While the industrial giant has powered ahead exporting its goods, ...

Positive Euro-Zone Indicators Fails to Boost EUR
NASDAQ
Investors once again reverted back to the safe-haven dollar as it became clear that the euro-zonecrisis is far from over. Despite better than expected euro-zone manufacturing indicators, the EUR/USD once again dropped below the 1.3000 level.

Utility shares outperform but banks fall as FTSE drops on eurozone worries
The Guardian (blog)
Utility shares outperformed a falling market as investors opted for safety in the wake of the latesteurozone developments. After earlier optimism that a deal could be reached between Greece and its private bondholders, European Union officials ...

Eurozone clears new safety net fund for early debut
Deutsche Welle
Finance ministers from Europe's single-currency bloc have confirmed an early start for the European Stability Mechanism, the eurozone's latest rainy day fund. Talks in Brussels on a Greek debt swap made less progress. Eurozone finance ministers reached ...

Citizenship and the Financial Crisis in Europe
Huffington Post (blog)
As the weaker states desperately seek national remedies for the crisis, they are drawn powerfully to zero-sum, beggar-thy-neighbor, free-riding policies -- especially currency devaluation -- that must ultimately fracture the Euro zone.

Confidence of world's leading chief executives dented by eurozone crisis
The Guardian
The continuing crisis in the eurozone has dealt a damaging blow to the confidence of the bosses of some of the world's biggest companies, according to a survey by PricewaterhouseCoopers which set a gloomy tone to the start of the World Economic Forum ...

The Guardian

TSX Down As Eurozone Worries Hurt Commodities - Canadian Commentary
NASDAQ
(RTTNews.com) - After recording gains in the past four straight sessions, Toronto stocks were lingering in the red Tuesday morning as worries over the euro zone debt situation resurfaced after the latest setback in the efforts to restructure Greek debt ...

A blueprint for Germany to save the eurozone
Financial Times
And what are the costs of a eurozone breakdown if seemingly precipitated by German “austerity” policies? Germany needs to expand its proposal for a fiscal pact into a plan that offers incentives and support to countries that translate words into action ...

Eurozone complacency prompts 'over-exuberance' in markets
Citywire.co.uk
... Marshall on Jan 24, 2012 at 16:02 It would be 'unwise to aggressively chase markets', Neptune's Ewan Thompson says, warning of too much 'exuberance' in markets so far this year amid complacency about the health of the eurozone and US economies.

Bond prices fall on eurozone optimism
Sydney Morning Herald
Longer-dated Australian bond futures prices fell for the second consecutive day this week, with ten-year futures dropping to their lowest in more than six weeks on positive eurozone news. By 1630 AEDT on Tuesday the March 10-year bond futures contract ...

Economic Gloom To Weigh On Eurozone Consumer Spending: IHS Global Insight
NASDAQ
(RTTNews.com) - Serious concerns over domestic and wider Eurozone economic situations as well as tight fiscal policies across the countries in the region are likely to dampen consumer spending in the coming months, Howard Archer, Chief European and UK ...

Eurozone crisis to affect China, India
Herald Sun
THE stratospheric growth forecast for two of Australia's largest trading partners - India and China - may not eventuate because of the eurozone crisis, analysis shows. Slashing its forecast for global growth this year, the International Monetary Fund ...

Shares flat on renewed eurozone woes
Herald Sun
AUSTRALIAN shares ended flat after retreating from positive territory on growing concerns that Greece and Portugal may need more bailout funds. "Risk assets continue to trade cautiously on the slight chance that the result out of Greece comes in ...

'Eurozone crisis will affect GCC countries' Real estate, precious metals ...
Arab Times Kuwait English Daily
KUWAIT CITY, Jan 23: The Eurozone debt crisis, if worsening, will affect the GCC countries as the European banks will shrink their capital and be less effective in the many restructuring efforts in the region, says Nitin Mehta, Managing Director of CFA ...

Arab Times Kuwait English Daily

Eurozone crisis: Osborne an 'observer' at EU talks
Scotsman
By JENNIFER O'MAHONY Chancellor George Osborne is in Brussels today for a meeting of ministers of the EU Economic and Financial Affairs Council to discuss theeurozone debt crisis. However, Britain will have the role of an “observer” only during ...

Scotsman

6 TOP ECONOMISTS ANSWER: Is The Euro Crisis Over? And If Not ...
By Simone Foxman
We spoke to six leading economists at a variety of top financial services and research organizations, and asked them to respond to the question: "Is the euro crisis over? And if not, what next?" These voices don't necessarily represent the mix ...
Clusterstock

Euro Zone Bank Stress Test | The Big Picture
By Barry Ritholtz
Here's another fun quiz, this one from Reuters Breakingviews: Wanna know how much Capital that needs to be raised by Eurozone banks? How much of a haircut.
The Big Picture

Euro zone industrial new orders drop less-than-expected By Forexpros
By Forexpros
Euro zone industrial new orders drop less-than-expected.
Forex Pros RSS News Feed | Forex News

Sentences to ponder, the eurozone crisis as political failure ...
By Tyler Cowen
Italian Prime Minister Mario Monti's program includes no general wage cuts. In Portugal, the government abandoned attempts to engineer unit labor cost reductions through “internal devaluation” after meeting political opposition. In Ireland, the ...
Marginal Revolution

NewsDaily: IMF slashes world growth outlook as euro zone weighs
By Lesley Wroughton
The euro zone debt crisis is escalating and dragging down the world economy, the International Monetary Fund said on Tuesday, as it sharply cut its outlook for global growth and called for policies to restore confidence.
NewsDaily: Top Headlines

Instapundit » Blog Archive » EUROPE: Eurozone finance ministers ...
By Glenn Reynolds
EUROPE: Eurozone finance ministers reject Greek debt offer. “Talks to restructure Greece's debt hit a new impasse after eurozone finance ministers rejected an offer from private bondholders because the cost of sweeteners on new Greek ...
Instapundit

Euro-zone Recession Not a Done Deal | Forex Crunch
By Yohay
The initial estimates for purchasing managers' indices came out better than expected and provide hope that the euro-zone could avoid an outright.
Forex Crunch

Calculated Risk: Greece: Eurozone finance ministers push for lower ...
By CalculatedRisk
The International Monetary Fund and the euro zone's four triple-A-rated countries—Germany, the Netherlands, Finland and Luxembourg—are pushing for a low average interest rate on new bonds to be issued as part of the restructuring .
Calculated Risk

Euro zone flash January composite PMI 50.4 | ForexLive
Up from 48.3 in December and much better than Reuter's median forecast of 48.5. Services PMI 50.5, up from 48.8 in December and better than Reuter's median.
ForexLive

#Japan PM Noda warns Eurozone crisis is not "a fire on the other ...
Japan PM Noda warns Eurozone crisis is not "a fire on the other side of the river." - @W7VOA.
Breaking news

XE.com - WRAPUP 4-Euro zone minister reject private bondholders ...
Euro zone finance ministers on Monday rejected as insufficient an offer made by private bondholders to help restructure Greece's debts, sending negotiators back to the drawing board and raising the threat of Greek default.
XE Forex News

Eurozone PMI figures show expansion; Nokia drops 7.1 ...
S&P 500 Index futures are down 0.5 percent indicating a lower open as traders in Europe are taking profits. The sell-offs are taking place despite better-than-expected PMI figures in Europe signalling that the continent is not falling into a hole.
Tradingfloor.com - the home of...

S&P downgrades eurozone bailout fund to AA+ - Business - World ...
Rating agency Standard & Poor's cut its credit rating of the European Financial Stability Facility, theeuro zone's rescue fund, by one notch to AA+ on Monday.
www.msnbc.msn.com/.../sp-downgrades-eurozone-bailout-fun...

Euro zone ministers reject private bondholders' Greece offer - Yahoo ...
From Yahoo! News: BRUSSELS/BERLIN (Reuters) - Euro zone finance ministers have rejected an offer made by private bondholders to help restructure ...
news.yahoo.com/euro-zone-finmins-rule-glacial-greek-debt-ta...

European Investment Opportunities Outside the Euro Zone - US ...
Investors look beyond the zone's heavy debt loads to non-euro nations with healthier balance sheets.
money.usnews.com/.../european-investment-opportunities-outs...

Technology Sector Closing In on Pre-Financial Crisis Highs
The S&P 500 Technology sector has gotten off to a great start to 2012. While it has gotten a bit overbought in the short term, the sector is closing in on a key ...
www.bespokeinvest.com/.../technology-sector-closing-in-on-p...

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