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

Tuesday, February 14, 2012

Euro crisis: Greek despair over deeper cuts

Euro crisis: Greek despair over deeper cuts
BBC News
They are against further austerity and yet they fear the unknown, bankruptcy and exclusion from the eurozone. Late on Sunday night the parliament voted to support the new spending cuts. It was a vote that revealed just how divided Greece is - 43 ...

BBC News 

Q&A: The Greek financial crisis
CBS News
When the financial crisis hit, it became too expensive for the nation to borrow money to pay off its debt. This revealed the true size of the debt problem, as well as the fact that Athens had been lying to the EU about its financial status.

Eurozone crisis an opportunity for Indian IT: Expert
Economic Times
By Ranvir Nayar PARIS: India's Information Technology sector is well placed to take advantage of the current Eurozone crisis as an increasing number of companies will look at "offshoring" as a way to cut their costs, says an expert with a leading ...

TEXT-Fitch:European investors expect Eurozone crisis to persist for another year
Reuters
"The investor survey largely accords with Fitch's view that the eurozone crisis will persist, be punctuated by episodes of severe financial volatility, and not be resolved without a broad-based economic recovery," said Ed Parker, ...

Eurozone: Muddle Through Or Meltdown?
YouTube
In this webinar we assess whether the eurozone will muddle through or end in a meltdown scenario, which could see the single currency bloc fall apart. Our Global Economic Strategists and Head of Europe Country Risk discuss why the ongoing crisis is a ...

EUROZONE: Hat-trick hero Ronaldo punishes Barca slip
Daily Mail (blog)
Cristiano Ronaldo hit a brilliant hat-trick as Real Madrid moved 10 points clear at the Primera Division summit with a 4-2 victory over 10-man Levante. Jose Mourinho's men took full advantage of Barcelona's defeat at Osasuna on Saturday night to move ...

CBI Is Ruling Out Recession for UK
Wall Street Journal
By AINSLEY THOMSON LONDON—The UK economy will remain subdued during 2012 as the euro-zone crisis weighs on sentiment, but it will avoid slipping back into recession due to an improvement in net trade and business investment, one of the country's main ...

The Financial Crisis Will Be Over When …
Wall Street Journal (blog)
In late 2008, as the financial crisis was tilting into a kamikaze dive, I expressed my hope that it would have a silver lining—a revival of the dying American virtue of thrift. After all, if you ask just about anybody what made America great—and what ...

Views under the Palm - johnmpoole.com: Greek Default is not End of the World: "The question is whether the Greeks will continue to agree to the Eurozone's (Germany et al) funding of Greece's payments to its creditors (Eurozone banks et al) and in return submit to further punishment ("austerity") of the Greek people."

German Bunds Drop as Greek Vote Cuts Contagion Risk; Spanish Bonds Advance
Bloomberg
Spanish 10-year bonds gained and Portuguese yields dropped to an 11-week low as the Greek vote reduced the risk of contagion to the region's most-indebted nations. Euro-area finance ministers plan to meet in two days to decide on a second financial aid ...

Bloomberg

Eurozone Debt Crisis Continues to Cloud Outlook at U.K. Banks
MarketWatch (press release)
Citigroup analyst Andrew Coomb said last week that UK banks could see weak loan growth in 2012 as households and corporations cut debt levels amid a tough economic environment and regulators press them to raise capital ratios.

Greece and the euro crisis jump the shark
MarketWatch (blog)
You guys know that throughout the last couple years that I have repeatedly loaded up on stocks and calls aggressively whenever the markets have panicked over Greece/Euro-crisis and that we've trimmed back and added to shorts when the markets are ...

Markets Rally as Greek Vote Quells Eurozone Jitters
Fox Business
Bouncing back from Friday's rare retreat, US stocks coasted to a higher close on Monday as a crucial Greek vote on austerity measures soothed the markets' eurozone headache and Apple catapulted the Nasdaq Composite to new 11-year highs.

Greg Halford positive despite Portsmouth financial crisis
BBC News
Portsmouth defender Greg Halford says the players are not feeling sorry for themselves despite the ongoing financial crisis at the club. The club were issued with a winding-up petition by HM Revenue and Customs on 3 January and will appear at the Royal ...

BBC News

Eurozone's firefight
The Lawyer
Still, against a background of at best anaemic growth and slippages in fiscal plans,eurozone sovereigns need to issue large sums of debt, with the scale of such issuance a key challenge for eurozone markets this year. We estimate that total gross ...

The Lawyer

Bonds firm on rand, eurozone sentiment
Fin24
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp. Greek lawmakers have approved a new round of drastic austerity measures after a long day of street ...

PREVIEW: China, EU to discuss eurozone, bolster economic links
Monsters and Critics.com
China's potential to increase its support for the eurozone is expected to take centre stage at Tuesday's summit. The European Union is keen to win China's verbal, and ideally practical, support for its handling of the debt crisis.

Gold edges down on lingering euro-zone worries
MarketWatch
By Claudia Assis and Virginia Harrison, MarketWatch SAN FRANCISCO (MarketWatch) — Gold futures inched lower Monday as investors cheered a Greek austerity deal but wrestled to reconcile its passage with the questions raised by rioting in Athens.

Nine Eurozone states push for progress on financial tax
Times of Malta
Despite the clear opposition of some member states, including Malta and the Netherlands in theEurozone and others like the UK, Sweden and Denmark outside, the nine member states, which include Germany, France and Italy, want a first reading of the new ...

The Ultimate Bad Bank
Wall Street Journal (blog)
In order to save the euro-zone's sovereigns, the European Central Bank has thrown itself in front of the runaway bus (train, bullet, comet… you get the idea). By taking pressure off euro-zone banks through massive infusions of liquidity, ...

Unsettling News Is Wafting From the East
Wall Street Journal (blog)
By Nicholas Hastings Worried about global growth in the Euro Zone? Developments in the Far East are giving plenty of reasons for concern. Japan's economic contraction is more severe than expected; China's widely forecast soft landing could still prove ...

Are We Already Planting the Seeds of the Next Financial Crisis?
TIME
By trying to make a little extra money, European banks are increasing their exposure to Eurozoneproblems. If the Eurozone crisis gets worse, the entire global banking system will feel the effects, including institutions in the US None of these ...

CORRECT: OIL FUTURES: Crude Carried Higher By Continuing Euro Zone Optimism
NASDAQ
("OIL FUTURES: Crude Carried Higher By Continuing Euro Zone Optimism," at 1306 GMT, misstated the day of the week in the first paragraph. The correct version follows:) By Sarah Kent LONDON -(Dow Jones)- Crude-oil futures continued to climb Monday, ...

OECD Helps Lift the Gloom
Wall Street Journal (blog)
By Paul Hannon The gloom surrounding the euro zone's economic prospects has lifted slightly in recent weeks, despite the panic on the streets of Athens. And there was another ray of light Monday, as the Organization for Economic Cooperation and ...

APTOPIX Greece Financial Crisis
KMOV.com
Riots engulfed central Athens and at least 10 buildings went up in flames in mass protests late Sunday as lawmakers prepared for a historic parliamentary vote on harsh austerity measures demanded to keep the country solvent and within the eurozone.

Fisher: PIIGS Won't Stop Market This Year
The Guru Investor
While many say the Eurozone crisis will weigh on stocks, Fisher says he doesn't see it. “Only Spain and Italy really matter. Italy needs to roll over almost half this year's debt in February, March and April. Thereafter the coast is pretty darned clear ...

Spanish village goes back to peseta as euro crisis takes hold
Daily Mail
The price of basic foodstuffs has also risen by a staggering 43 per cent since 2002 and there are fears Spain may have to be bailed out by the eurozone. Shopkeepers in the village took the drastic step of going back to the peseta in the hope that some ...

Daily Mail

Eurozone auctions coming down the pike | ForexLive
Yipeeeee Deutsche Finanzagentur planning to sell 4.0 bln of a new 6 month bubill maturing August 15 Results due soon after 10:30 GMT Italian.
ForexLive

Europe: austerity bites (in the Eurozone) « Real-World Economics ...
By merijnknibbe
Europe: austerity bites (in the Eurozone). February 13, 2012 merijnknibbe Leave a comment Go to comments. Tomorrow (14 February) Eurostat publishes new data on EU industrial production in December 2012. Data for many countries are ...
Real-World Economics Review Blog

How the ECB saved the eurozone (last time) | Money Supply | News ...
By Ralph Atkins
The top economics writers at the Financial Times share insights into the global economy, and the central bankers and policymakers who shape it. Economics blog with data and graphics.
Money Supply

Trading the euro and euro zone banks after Greek budget deal ...
By Richard Rittorno
The Greek parliament is still required to layout detailed plans on how EUR325 million ($428.6 million) in spending cuts will be obtained and provide the euro zone finance minister with a full plan for implementation before they reconvene on ...
Emerging Money

Euro Crisis: Cold morning after a hot night in Athens… « Slugger O ...
By Mick Fealty
For most of the last two years, the euro zone has done what is necessary to prevent a catastrophic collapse of the euro zone while seeking to avoid rich countries having to take responsibility for the debts of the corrupt, unreliable and ...
Slugger O'Toole

THE ASTUTE BLOGGERS: NEXT BIG EUROZONE DEADLINE IS ...
By Reliapundit
NEXT BIG EUROZONE DEADLINE IS WEDNESDAY... Eurozone ministers must now ratify the measures at a meeting in Brussels on Wednesday before bailout funds can be released. The ministers rejected proposals put forward by the Greeks ...
THE ASTUTE BLOGGERS

Trust Your Instincts: The Swedish model for stopping a financial crisis
By Richard
Clearly the policies that have been pursued since the financial crisis began on August 9, 2007 have not stopped the crisis, but rather have seen the crisis morph from a bank "solvency" crisis to a sovereign debt and bank solvency crisis to a ...
Trust Your Instincts

Eurozone crisis an opportunity for Indian IT: Expert
Eurozone crisis an opportunity for India...For that, Indian companies like Infosys, TCS, Wipr..."In 2011, India contributed 72 percent to the..."In comparison, continental Europe will still...A speaker at the Nasscom International Leadership ...
Daily News Headlines | Today's...

Does this in any way tell us how to solve the Eurozone crisis?
By Zarathustra
ECB's research provide evidence that markets do watch football, and trading volume fell during the match.
Also sprach Analyst

Greece approves austerity cuts to secure eurozone bailout and ...
By dimitriswright
With eurozone leaders declaring it was time for Greece to put up or shut up and that Athens' promises could no longer be believed, Greece's two main parties and the caretaker prime minister invoked apocalyptic scenarios for the country if the ...
REinFORM.nl

Sorry But Black-Scholes Did Not Cause the Financial Crisis ...
By Eddy
Sorry But Black-Scholes Did Not Cause the Financial Crisis. The UK Guardian carries a remarkably silly story on the Black-Scholes options pricing formula called “The mathematical equation that caused the banks to crash.” I honestly don't ...
Crossing Wall Street

Will Currency Devaluation Fix the Eurozone? - Frank Shostak ...
A policy of currency devaluation can only make things much worse.
mises.org/.../Will-Currency-Devaluation-Fix-the-Eurozone-Cri...

Greece approves austerity cuts to secure eurozone bailout and ...
MPs in Athens approve severe budget cuts imposed by the EU after rallies against the bill erupt in street violence.
www.guardian.co.uk/world/.../greece-austerity-cuts-euro-bailo...

Germans' Life Ratings Decline Slightly Amid Eurozone Crisis
Germans were slightly less positive about their lives in 2011 than they were in 2010. Their emotional wellbeing also worsened somewhat last year.
www.gallup.com/.../germans-life-ratings-decline-slightly-amid...

The effects of the Euro zone crisis on the CFA franc zone: a View ...
In the case of Cameroon, the Euro zone still represents the main market for the country's exports and hosts the largest community of Cameroonians abroad.
blogs.worldbank.org/.../the-effects-of-the-euro-zone-crisis-on-...

News Release
Eurozone manufacturing downturn eases as Germany returns to growth ... Eurozone PMI®, 50 = no change in business conditions on month. Source: Markit ...
www.markiteconomics.com/.../Pages/ViewPressRelease.aspx?...

Why China isn't Buying Eurozone Bailout Bonds (Yet) | Asia Pacific ...
China has still not committed to invest in the European Financial Stability Facility (EFSF), the stopgap fund created to tackle the European sovereign debt crisis.
www.asiapacificmemo.ca/why-china-not-buying-eurozone-bai...

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