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Friday, January 13, 2012

'Zombie bank' threat haunts eurozone

'Zombie bank' threat haunts eurozone
Cazenove European fund manager Chris Rice says eurozone banks are in danger of emulating their Japanese counterparts. by Matthew Goodburn on Jan 12, 2012 at 13:57 Chris Rice, manager of the Cazenove European fund, a pick of Citywire Selection, ...

Euro-Zone Breakup Emerges as Buyer Risk in UniCredit Stock Sale ...
UniCredit SpA is telling investors considering buying shares in the Italian lender's 7.5 billion- euro ($9.6 billion) rights offer they should weigh the possibility that .the euro may be abandoned. “Concerns that the euro zone sovereign debt crisis could worsen may lead to the reintroduction of national currencies in one or more euro-zone countries or, in particularly dire circumstances, the abandonment of the euro,” UniCredit wrote in its prospectus published yesterday. A euro-area breakup could have “a significant negative impact” on the lender, it wrote...

Draghi notes signs of stabilization in eurozone
FRANKFURT, Germany—European Central Bank president Mario Draghi says the bank sees "tentative signs of stabilization" in the troubled eurozone economy. Draghi made the remark after the bank left its main interest rate unchanged at 1.0 percent. ...

Italy: Financial crisis an issue for 2020 Rome bid
AP ROME -- The Italian government is warning the financial crisis could be a stumbling block in Rome's bid for the 2020 Summer Olympics. Italy's spiraling debt costs have added another challenge to the economic woes of the country, which is mired in a ...

Eurozone relief: Spain, Italy meet bond auction targets
Alaska Dispatch
The eurozone heaved a sigh of relief today: Italy and Spain, the eurozone's third- and fourth-largest economies, were able to borrow fresh money at surprisingly favorable terms, indicating growing confidence about their economic prospects. ...

German economy grew by 3 percent in 2011
"While the German economy grew very strongly in the last two years, this year's growth will be much lower, especially because of the crisis in the eurozone," Ferdinand Fichtner, the head of the DIW economic institute, said in a statement. ...

EU's Barroso: more has to be done to boost euro zone firewalls
COPENHAGEN Jan 12 (Reuters) - The euro zone should further strengthen its bailout capabilities to boost investor confidence and help end the sovereign debt crisis, European Commission President Jose Manuel Barroso said on Thursday. ...

Eurozone waters down its tough fiscal rules in new treaty
The London-based think tank said: "From the eurozone's point of view, the draft may actually be worse news than the previous version, as the markets could judge the watering down of the enforcement mechanisms through the EU institutions as a weakness ...


Fitch does not see French govt capitalising banks
Fitch put France's AAA credit rating on negative outlook last month and said that it was the triple A country the most exposed to a deterioration of the euro zone's debt crisis. French banks' holdings of debt from troubled states and reliance on ...

INTERVIEW: Euro Zone Must Step Up, Finalize Plans To Win Support
Wall Street Journal
By Sean Carney PRAGUE (Dow Jones)--Euro-zone leaders must bring the ad hoc European fiscal pact draft into a final rendering before they can expect the Czechs to consider signing up because the treaty would reshape the entire European economic ...

Eurozone debt fears dent market gains
Vancouver Sun
... 2012 Markets gave back a little of the ground they won in the previous day's rally on Wednesday after Germany said its economy had probably contracted in the fourth quarter, raising the spectre once again of the eurozone debt crisis. ...

Romney Runs Against...Europe?
There's no way the euro zone crisis was going to help Europe's image in the rest of the world. But exactly how much reputational damage has occurred was highlighted in the victory speech given by Republican presidential candidate Mitt Romney after he ...


Output Slumps in Euro Zone, UK
Wall Street Journal
By ALEX BRITTAIN LONDON—Euro-zone factory output suffered its first decline on a year-to-year basis in almost two years in November, the latest sign the currency bloc's economy is heading into recession as leaders battle to end their debt crisis. ...

Eurozone Industrial Output Falls For Third Month
(RTTNews.com) - Eurozone industrial production contracted for a third consecutive month in November, adding to evidence that the economy is in a mild recession. Data from the Eurostat showed Thursday that production fell 0.1 percent month-on-month in ...

Eurozone Sovereign Spread Tightening
Business Insider
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. The return of confidence, in our opinion, is the continuation of the ...

FDP signals may let Merkel press for euro zone-only bank tax
Until now the Free Democrats, junior government partners to Merkel's CDU-CSU conservative bloc, had said a transactions tax levied only in euro zone states would put them at a disadvantage to countries like Britain that are outside the currency bloc ...

Eurozone predictions for 2012
Interactive Investor
Very frustratingly eurozone leaders in particular do not seem to comprehend the importance of sentiment both in the real economy and in the financial markets. Yes, the root problem is too much debt and ultimately that needs to be corrected, ...

Interactive Investor

Eurozone is Struggling While East Africa Insists on its Monetary Union
The crisis in the eurozone does not bridle East African's desire to create its monetary union. Despite recent and persistent problems of our single currency and the dire predictions by respected economists and even politicians, a collapse of the Euro, ...


Greece could force errant creditors into bond swap -sources
By Jan Strupczewski and Annika Breidthardt BRUSSELS/BERLIN Jan 12 (Reuters) - Greece could force reluctant creditors to sign up to a bond swap, three senior euro zone sources said on Thursday, as Athens struggles to get enough private investors to ...

Eurozone crisis: thanks to globalisation, we really are all in it together
The Guardian (blog)
New research by Goldman Sachs suggests that as the eurozone slowdown bites in the coming months, families and businesses from Istanbul to Lima will be reminded that, like it or not, we're all in this together. Emerging economies – including the ...

The Guardian (blog)

Euro crisis, slowdown to hit Indian IT growth: Infosys
Economic Times
BANGALORE: European debt crisis and slower growth in developed markets could affect the growth of the Indian IT industry, a top Infosys official said Thursday. "The global economy, driven by slower growth in developed markets and coupled with the ...

Slovakia: Allow Euro Members to Leave
Wall Street Journal
"It'd be ideal to save the euro [and the euro-zone] in its current composition without any additional costs for bailing out Greece," Mr. Miklos said in an interview. "But the question is whether it will be possible to keep the euro zone in its existing ...

Futures Rise on Positive Developments in the Euro Zone
Beacon Equity Research
Stock index futures are gaining in trading today following positive developments in the euro zone. Futures are also rising ahead of the release of some key US economic data. Ahead of the opening bell the Dow Jones Industrial Average futures are trading ...

Credit Suisse offers trades for eurozone shorting
Financial Times
By Sam Jones, Hedge Fund Correspondent Credit Suisse is offering its hedge fund clients off-the-shelf products that allow traders to replicate hypothetical gains made by betting against European stock indices that include equities covered by eurozone ...

Financial Times

European Investment Opportunities Outside the Euro Zone
U.S. News & World Report
By Rachel Koning Beals Euro-zone officials, with global central bank help, may have patched the region's vulnerable financial system for now, but borrowing costs remain steep in Italy, Spain, and elsewhere. A heavy and expensive debt load brings added ...

Euro Zone: Weak activity
by Clemente De Lucia - BNP Paribas | View company's profile Industrial production inched down in November, losing 0.1% over the month, after falling more markedly over the previous two months. Survey data showed that activity was rather weak also in ...

Timothy Geithner: Eurozone Needs A 'Firewall' To Prevent Crisis ...
By The Huffington Post News Editors
TOKYO, Jan 12 (Reuters) - Europe is making progress in resolving its two-year-old sovereign debt crisis, but creating a "firewall" around the euro zone to prevent the crisis from spreading is a crucial next step, U.S. Treasury Secretary Timothy ...
The Full Feed from HuffingtonPost.com

Calafia Beach Pundit: More improvement in eurozone financial ...
By Scott Grannis
Liquidity conditions in the Eurozone financial markets are improving, and although this doesn't necessarily lessen the risk that one or more sovereign defaults will occur, it means that the impact of any eventual defaults will be less severe than ...
Calafia Beach Pundit

Euro zone survival? Depends where you're from | MacroScope
By Andy Bruce
There was an interesting slant to the forecasts in Wednesday's Reuters poll about what's next for the euro zone debt crisis.

Euro Zone Industrial Production Declines In November
By Forexpros
Forexpros – Industrial production in the euro zone declined for the third consecutive month in November, official data showed on Thursday. In a report, Eurostat, the European statistics agency said industrial production fell by a seasonally ...

NewsDaily: Spain tests demand for weaker euro zone states' bonds
By Nigel Davies
Spain will provide 2012's first real test of demand for debt from the euro zone's bruised periphery on Thursday when it sells around 5 billion euros ($6.39 billion) of bonds.
NewsDaily: Top Headlines

The battle goes on | Presseurop (English)
Cartoon. Eurozone crisis ... He also produces animated political cartoons for the Dutch TV news show Nieuwsuur. Categories. Angela Merkel · European Union · Eurozone crisis · France · Germany · Nicolas Sarkozy. Type Cartoon · Tweet ...

Evolving Financial Crisis. Solvency of the Euro Zone :: The Market ...
Evolving Financial Crisis. Solvency of the Euro Zone :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle

Fuel Fix » Eurozone worries keep traders in cautious mood
By FT.com - Energy
Eurozone worries keep traders in cautious mood. ... Tweet. Share share E-mail. Markets mixed amid conflicting news on global growth prospects and wariness about eurozone 'headline risk'. 53. |. Tweet. Share share E-mail. « Previous Post ...
Fuel Fix

Huge ECB Loans Fail to Boost Eurozone Economy « SGTreport.com
By Stefan B
Huge ECB Loans Fail to Boost Eurozone Economy. Eurozone banks have deposited nearly all the money they borrowed last month from the European Central Bank back with the lender, according to analysts at Barclays Capital. by Harry ...

XE.com - INSTANT VIEW 2-Euro zone Nov industrial output falls 0.1 ...
Energy production in the euro zone helped steady slumping industrial output in November, EU data showed on Thursday, but deep falls in the assembly of consumer goods are unlikely to inject any optimism that Europe can avoid a mild ...
XE Forex News

Euro zone industrial production declines in November By Forexpros
By Forexpros
Euro zone industrial production declines in November.
Forex Pros RSS News Feed | Forex News

Euro crisis: Greek Children 'dumped in streets by parents | Ya ...
By syh
Youngsters are being dumped by their parents who are struggling to make ends meet in what is fast becoming the most tragic human consequence of the Euro crisis. It comes as pharmacists revealed the country had almost run out of aspirin, ...
Ya Libnan

Euro Crisis Affecting Families In the Worst Way | THE WESTERN ...
By Jason Bradley
Greece's austerity measures and the Euro crisis are hitting families hard and those who were just making ends meet before hand have all but given up. Athens' Ark of the World youth centre said four children, including a newborn baby, had ...

Merkel, Sarkozy to seek growth, jobs for euro zone - Business ...
BERLIN — The German and French leaders meet on Monday to discuss ways to boost growth ineuro zone states struggling to overcome the sovereign debt ...

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