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

Tuesday, January 17, 2012

IMF executive warns of eurozone 'spiral'

IMF executive warns of eurozone 'spiral'
AFP
A senior International Monetary Fund executive warned on Monday that Europe required bold action to avert a "downward spiral" that could drag the world economy into "catastrophe".
IMF First Deputy Managing Director David Lipton, in his first major speech since his appointment late last year, told a meeting of Asian finance and banking chiefs in Hong Kong that the world economy was in trouble....

AFP

Euro Zone Bailout Fund Is Downgraded
New York Times
PARIS — The euro zone's main bailout vehicle lost its AAA rating from Standard & Poor's on Monday, just three days after the agency downgraded France and eight other European countries. S.&P. said the cut reflected the fact that bonds issued by the ...

Eurocrisis: Yet More Problems in Greece
Forbes
There's something about this Greek bailout that has people scratching their heads. We're regularly told that Greece's debt burden is about 150% of what is sustainable. That's why it must be cut to something more reasonable. The troika is seeking to put ...

UK in recession says Item Club economic forecasters
BBC News
It said that even if the eurozone could resolve its problems the UK economy would grow by just 0.2% this year. It also predicted unemployment would rise by a further 300000 to just below three million people. "We are probably in technical recession," ...

BBC News

Euro Zone Hit by Markets' 'Over-Expectation': Economist
CNBC.com
Markets expect too much from European policymakers when it comes to plans to solve the euro zone debt crisis, which worsened on Friday when rating agency Standard & Poor's downgraded some euro members, a former Bank of England official told CNBC....

CNBC.com

UK Osborne: Euro Zone Needs To Stand Behind Its Currency
Wall Street Journal
By Nicholas Winning LONDON (Dow Jones)--The euro zone needs to show convincingly that it can stand behind its currency and resolve the Greek debt crisis, UK Chancellor of the Exchequer George Osborne said Monday in response to the downgrade of nine of ...

Euro zone deals double blow to UK property
Reuters
LONDON Jan 16 (Reuters) - The euro zone sovereign debt crisis and weak UK economy dealt a double blow to the country's commercial property market on Monday, derailing a major London scheme and curbing growth prospects. The first setback came when ...

Eurozone debt crisis likely to be over soon, predicts HSBC
Telegraph.co.uk
Mr Flint spoke after Standard & Poor's, the rating agency, cut the credit ratings of France, Italy and Spain and other eurozone countries on Friday, while a solution for Greece's debt problems remains unclear. George Osborne, Britain's Chancellor, ...

Telegraph.co.uk

ECB's Draghi: Europe in 'Very Grave' Economic Situation
Fox Business
Europe is an a "very grave" economic situation, European Central Bank President Mario Draghi said on Monday, but he added that euro zone governments are progressing well with efforts to put their finances in order. Speaking in his capacity as head of ...

Eurozone ratings cuts reverberate
Financial Times
Traders are wary of adding to racier bets as fears return that the eurozone debt crisis could sap sentiment, hobble the banking system and thus denude economic growth worldwide. The euro, unsurprisingly, is bearing the brunt of the caution. ...

Oil prices rise as market tracks Nigeria, Iran, eurozone
AFP
LONDON — Oil prices rose on Monday as the market reacted to potential supply disruptions in Nigeria and Iran, while keeping a watch over fresh eurozone strains after last week's ratings downgrades, analysts said. New York's main contract, ...

AFP

UK braced for eurozone meltdown: Hague compares crisis to stricken Costa ...
Daily Mail
By Ruth Sunderland William Hague said yesterday that Britain was braced for fresh disasters in the eurozone as markets looked set to plunge after France was stripped of its coveted Triple A credit rating. The Foreign Secretary said the Government had ...

Daily Mail

The eurozone's three deadly sins
Financial Times (blog)
Friday's actions from Standard and Poor's were hardly the biggest surprise in the financial universe: the ratings agency warned in December that eurozone nations were in danger of being downgraded. Germany is, in effect, the last man standing. ...

The rising costs of eurozone rescues
BBC News
The eurozone has two bailout funds of any size at all: the European Financial Stability Facility, which exists now, and the European Stability Mechanism, which is supposed to be launched in July. They exist (mainly) to lend to governments deemed to be ...

BBC News

Eurozone troubles rattle stockmarket investors
The Australian
A trader views a sea of red as sharemarkets reel over the eurozone crisis. The bourse closed lower yesterday Source: AFP THE European sovereign debt crisis was back in the spotlight yesterday after Standard & Poor's cut the credit ratings of nine ...

S&P Euro-Zone Downgrade Casts Shadow over Czech Support to Currency Bloc
Wall Street Journal (blog)
The downgrades of several euro-zone countries late last week by Standard & Poor's Ratings Services may further cloud the Czech government's wait-and-see approach regarding boosting its support for the troubled euro zone. “It is absolutely natural that ...

Eurozone fears hit shares but Aussie bonds popular
The Australian
Asian markets also closed broadly lower as investors were reminded that the eurozone crisis would overhang markets for some time yet. The yield on the Australian 10-year government bond, which moves down when prices rise, hit an all-time low of 3.668 ...

S&P's euro zone downgrade "additional challenge": Noyer
Reuters
PARIS (Reuters) - Ratings agency Standard & Poor's decision to downgrade the credit ratings of nineeuro zone countries constitutes an additional challenge for the euro zone, ECB governing board member Christian Noyer said on Monday. ...

SE Asia Stocks-Lower amid euro zone concerns
Reuters
Mass euro zone rating cuts increase risk-aversion * Need for cash rises ahead of Chinese New Year By Viparat Jantraprap BANGKOK, Jan 16 (Reuters) - Southeast Asian stock markets fell on Monday, led by commodities-related and banking shares, after euro ...

European Financial Crisis Weighs on Outlook for NVIDIA and Marvell Technology
MarketWatch (press release)
NEW YORK, NY, Jan 16, 2012 (MARKETWIRE via COMTEX) -- The European debt crisis and floods in Thailand have weighed heavily on chipmakers of late. According to the latest stats from the Semiconductor Industry Association, semiconductor sales in Europe ...

Eurozone downgrade to impact GCC currency market: Banker Monday, 16 January ...
Peninsula On-line
DOHA: Standard and Poor's decision to downgrade eurozone is likely to have a considerable impact on the GCC financial markets. The decision is set to rattle the currency market, believes Qatar's one of the biggest lenders Doha Bank. ...

Eurozone debt crisis: China a harbinger for global slowdown
Economic Times
Ratings downgrades on nine euro zone countries by Standard & Poor's late Friday - including France, Italy and Spain - sent a shiver through financial markets. But the move was long telegraphed, likely limiting any spillover. A global economy slowing ...

Eurozone crisis hits regional stocks
gulfnews.com
Developments in the Eurozone are continuing to have an adverse impact on investor sentiment across the Arab world in the wake of the S&P downgrades. Elsewhere in the region yesterday, Saudi Arabia's Tadawul All Share Index lost 1.1 per cent, ...

Indian Shares Shrug Off Eurozone Downgrades
RTT News
(RTTNews) - Indian shares rose modestly on Monday, reversing early losses, as a sharp fall in December inflation numbers to a two-year low spurred hopes that the Reserve Bank of India will reverse its rate-tightening cycle. ...

TSX lower after eurozone ratings cuts, Pembina to buy Provident Energy
Proactive Investors USA & Canada
Late Friday, ratings agency Standard & Poor's cut the credit ratings of nine eurozonenations, including France, signaling the region's debt crisis is worsening. S&P warned that Europe's efforts to fight its crisis are falling short as it lowered the ...

Proactive Investors USA & Canada

Italian Luxury Clothiers Say Euro Crisis Won't Stop 2012 Growth
BusinessWeek
By Andrew Roberts Jan. 16 (Bloomberg) -- Ermenegildo Zegna SpA and Raffaele Caruso SpA are among Italian luxury goods makers that say they are optimistic for 2012 even as Europe's sovereign-debt crisis weighs on demand in the region and growth slows in ...

Eurozone Bailout Downgraded By S&P To AA+
By The Huffington Post News Editors
BRUSSELS — Rating agency Standard & Poor's said Monday it has downgraded the creditworthiness of the eurozone's rescue fund by one notch to AA+, putting the fund's ability to raise cheap bailout money at risk. The downgrade follows ...
The Huffington Post | Full News Feed

Eurozone Busily Decimating Member Countries | FDL News Desk
By David Dayen
When Standard and Poor's downgraded nine European countries last Friday, they said plainly that European leaders were blinding themselves to the full.
Firedoglake

NewsDaily: S&P, Greek standoff pressure euro zone to boost defenses
By Mike Peacock
Mass euro zone ratings downgrades are unlikely to shake up investors too much, but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been ...
NewsDaily: Top Headlines

Georges Ugeux: France's Downgrade Threatens the Eurozone's AAA
By Georges Ugeux
By not applying to itself the discipline it has been keen to impose to other countries, France is knowingly opening the European creditworthiness's Pandora box. Europe's AAA rating is in danger, and with it its ability to fund its unavoidable ...
The Huffington Post Full Blog Feed

Forex – EUR/USD Remains Lower As Euro Zone Concerns Weigh
By Forexpros
Forexpros – The euro remained lower against the U.S. dollar on Monday, as concerns over sovereign funding in the euro zone continued to weigh on market sentiment after a weaker than expected French debt sale. EUR/USD hit 1.2626 ...
DailyMarkets.com

Eurozone Downgrade Barely Fazes Markets - Finance - CBN News ...
Standard and Poors' downgrade on nine of the 17 eurozone countries had little effect on European stocks Monday.
CBN.com - CBN News

Instapundit » Blog Archive » EUROPE: Eurozone Bailout Fund ...
By Glenn Reynolds
January 16, 2012. EUROPE: Eurozone Bailout Fund Loses AAA Rating. Posted by Glenn Reynolds at 2:52 pm. Tweet · RSS Feed · Podcast RSS Feed · Email Instapundit. Sic gorgiamus allos subjectatos nunc! Making even the dumbest sh** ...
Instapundit

The eurozone's three deadly sins | The A-List | Must-read views on ...
By Stephen King
The A-List from the Financial Times provides timely, insightful comment on the topics that matter, from globally renowned leaders, policymakers and commentators.
The A-List

JP Morgan: We are Riding Some PIIGS (NYSE:JPM, NYSE:XLF ...
By info@wallstcheatsheet.com (Damien Hoffman)
JPMorgan & Chase could lose $5 billion from troubled euro zone countries...
Wall St. Cheat Sheet

Eurozone madness: Why the Germans will look for a graceful exit ...
By John Ward
The problem with the eurozone – and increasingly with the EU – is, as I've blogged before, there simply isn't enough money to sort it out. And so whatever anyone tries, fails. Or put another way: whatever school of thought is in the ascendancy, ...
The Slog

EU Commission: Timing of S&P's Eurozone credit-rating ...
EU Commission: Timing of S&P's Eurozone credit-rating downgrades 'very odd' - Reuters.
Breaking news

Fuel Fix » Eurozone ratings cuts reverberate across markets
By FT.com - Energy
Eurozone ratings cuts reverberate across markets. ... Share share E-mail. Traders paring back racier bets and shifting some funds into perceived havens as fears return that the eurozone debt crisis could sap sentiment. 0. |. Tweet. Share share ...
Fuel Fix

Europe's road to financial crisis - CNN.com
Europe's road to financial crisis. updated 5:52 PM EST, Fri January 13, 2012. Share this on: Facebook Twitter Digg delicious reddit MySpace StumbleUpon ...
www.cnn.com/2012/01/13/world/europe/.../index.html

Eurozone Bailout Downgraded By S&P To AA+
BRUSSELS — Rating agency Standard & Poor's said Monday it has downgraded the creditworthiness of the eurozone's rescue fund by one notch to AA+, ...
www.huffingtonpost.com/.../eurozone-bailout-downgrade-sp_...

UK braced for eurozone meltdown: Hague compares crisis to ...
The Foreign Secretary, pictured, said the Government had devised contingency plans to evacuate British citizens from Europe in the event of financial meltdown.
www.dailymail.co.uk/.../UK-braced-eurozone-meltdown-Hagu...
RIGZONE - Crude Falls As Euro-Zone Woes Resurface
RIGZONE News - leading source for the latest news and information for the oil and gas industry.
www.rigzone.com/news/article.asp?a_id=114244

Euro-zone policies have fallen short: S&P - MarketWatch
Standard & Poor's credit analysts said Saturday that Euro-zone policy makers have failed to address the “broadening and deepening” financial crisis the region ...
www.marketwatch.com/.../euro-zone-policies-have-fallen-shor...

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm

johnyah