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

Friday, February 3, 2012

Euro zone aims to agree on second Greek bailout by February 6

Euro zone aims to agree on second Greek bailout by February 6
By Jan Strupczewski and Luke Baker | BRUSSELS (Reuters) - Euro zone finance ministers aim to agree a second financing package for Greece on Monday, a decision they hope will boost market confidence in euro zone public finances and help contain the ...

Euro crisis impacts on Deutsche Bank profits
Not even Germany's biggest bank is immune from the euro crisis, with the bank suffering a slump in profits in the fourth quarter of last year. The bank booked a net income of 186 million euros ($245.06 million) for the last quarter of 2011, ...

TABLE-Euro zone Dec loan rates rise despite ECB rate cut
FRANKFURT Feb 2 (Reuters) - Euro zone household mortgage rates as well as rates on corporate loans rose in December despite the European Central Bank's cut in official rates, ECB data showed on Thursday. The central bank cut interest rates for the ...

Eurozone crisis live: Greek talks continue on Groundhog Day
The Guardian
They will be sought, used and appreciated" -- both in Germany and in the rest of theeuro zone. It may not be an easy sell. Three months ago, Klaus Regling of the EFSF toured the Far East looking for support, and came away empty handed.

The Guardian

Euro zone woes will widen London-UK property gulf
LONDON Feb 2 (Reuters) - The gulf in commercial property values between London and the rest of the UK will widen in 2012 as uncertainty over the euro zone crisis and the threat of recession hits real estate prices outside the best locations, ...

Eurozone bail-out funds not enough, warns OECD
The eurozone's bail-out funds are not big enough, the Organisation for Economic Co-operation and Development (OECD) has warned, amid mounting concerns about a Greek default. A meeting of the eurozone's finance ministers has been scheduled for Monday, ...


Eurozone Producer Price Inflation Slows As Expected
(RTTNews.com) - Eurozone producer price inflation eased as expected in December, lifting the scope for an interest rate cut from the European Central Bank, the latest figures from Eurostat showed Thursday. Producer price inflation fell to 4.3 percent ...

Renewed optimism about the euro zone has passed Portugal by
The Economist
SINCE the start of the euro crisis, a hope has been that a way could be found to support governments that were temporarily short of cash (because of skittish bond investors) but that had public finances that were otherwise sound.

TEXT-S&P report says Eurozone recession could end in late 2012
(The following statement was released by the rating agency) Feb 02 - The eurozone should gradually climb out of its mild recession in the second half of this year and into 2013, said Standard & Poor's today in announcing the publication of its report ...

Fitch's Riley Says Euro-Zone Crisis To Persist Another 12-18 Months
Wall Street Journal
The New York-based debt-rating firm believes it will take "at least 12 to 18 months before we have stabilization for the euro zone," Riley said. Fitch doesn't believe the euro zone will break up and that there will be "incremental gradual reform," ...

Positive Eurozone Manufacturing Data Supports Markets Before US Non Farm Payrolls
by Richard Cox - Spread Betting | View company's profile Risk assets managed to make a run higher yesterday as markets received a positive surprise from European manufacturing data, leading to analyst speculation that the worst of the current economic ...

Eurozone effects bearable
BY JIMMY C. CALAPATI SAYING that Philippine banks are "reasonably buffered against structural risks," Fitch Ratings yesterday maintained its 'stable' outlook on the country's financial institutions. "Banks' ratings have (generally) stable outlooks, ...

Triple-A euro zone finmins meet in Berlin on Friday -Germany
BERLIN Feb 2 (Reuters) - The finance ministers of the euro zone's four AAA-rated countries will meet in Berlin on Friday, Germany's finance ministry said on Thursday, days before they are to discuss a financing deal for Greece with their 13 currency ...

Eurozone crisis: causes and solutions
The Voice of Russia
Well, the fiscal compact has huge problems and the major problem of course is that it doesn't solve the fundamental flaw in the Eurozone which is applying one-sized fiscal monetary policy to this vast geographical area with very different countries, ...

The Voice of Russia

Cuts Address Detroit's Financial Crisis, But City Needs Longer-Term Plans
by Alex Ferreras on February 2, 2012 in Latest Financial News (Source: Stephen Henderson Detroit Free Press) – It's funny what passes for good news in Detroit these days. Early this week, there was buzz around the City Council deciding that union ...

Eurozone needs 'federal fiscal union' to survive: Czech PM
MSN Philippines News
Czech Prime Minister Petr Necas, who recently nixed his country's membership in the EU's new budgetary discipline pact, on Thursday said the eurozone needed a federal fiscal union in order to survive. "The eurozone has no choice now: either it will ...

Euro Weakens Against Majors; Eurozone PPI Eyed
(RTTNews.com) - The euro edged lower against its major rivals in early European deals on Thursday as majority of European stock markets trimmed their initial gains despite positive cues in Asia. Thus far, Germany's DAX fell 0.13 percent, ...

Euro Zone Wholesale Prices Eases; Spanish Jobless Rate at 22.9%
Euro-zone producer price inflation eased in December, the latest data from Eurostat showed today. The producer price index for the total industry, excluding construction, rose 4.3% from a year ago in December compared to the 5.4% rise in November.

Bernanke:Fed Would Try To 'Mitigate Contagion' From European Banking System
By Corey Boles and Jeffrey Sparshott, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Federal Reserve Chairman Ben Bernanke said the central bank would try to "mitigate contagion" from any further expansion of the European sovereign-debt crisis.

INTERVIEW: Scania CFO Examining Ways To Reduce Euro-Zone Currency Risk
Wall Street Journal
... STOCKHOLM -(Dow Jones)- Swedish truck maker Scania AB (SCV-A.SK) is examining how it can best match the geographic spread of receivables and payables across Europe to minimize potential currency risk as the euro zone's debt crisis rumbles on.

Shelia Bair Concerned About Euro Zone Recession
CNBC.com (blog)
“But, frankly, he's doing what he needs to do to stabilize that banking system there and prevent any kind of a sudden financial crisis.” European banks, she added, needed to raise more and new capital, “as opposed to gimmicks and asset-sells or ...

Private meetings on Detroit's financial crisis illegal, suit says
Detroit Free Press
Bing and the City Council claim they can fix the financial crisis without an emergency manager, but they have yet to reach significant savings. Bing has said such savings would have to include union concessions.

Austerity no solution for eurozone - French socialist MEP
BBC News
... in the French presidential election, which could lead to further clashes with the stance of the UK coalition if the left were to win. Pervenche Berès, an MEP from Mr Hollande's party, explained why austerity was "no solution for the the eurozone".

BBC News

Munich Re profits plunge after multiple disasters; eurozone crisis
Washington Post
“We have never experienced a year like 2011 before — extreme burdens from natural catastrophes combined with the financial crisis, which flared up again after the slight recovery in 2009 and 2010,” said chief financial officer Joerg Schneider.

Eurozone collapse 'would trigger a deep recession', IFS warns
This is Money
By Hugo Duncan Meltdown in the eurozone would plunge Britain back into 'deep recession' and push the ballooning national debt to dangerously high levels, a leading budget watchdog warned yesterday. The UK economy would shrink by 1.7 per cent this year ...

This is Money

Euro rescue funds need to be doubled- OECD official
By Leigh Thomas | PARIS Feb 2 (Reuters) - The euro zone's EFSF and ESM rescue funds need their combined resources doubled to help keep a lid on the bloc's debt crisis, a senior OECD official said, adding to pressure on Germany to agree to a ...

Eurozone must show “colour of Mmoney” before world helps with financial rescue
People's Daily Online
By Adrian Monck (People's Daily Overseas Edition) Davos-Klosters, Switzerland, 28 January 2012 – Before it can expect other countries to help, the Eurozone must allocate more of its own money on a financial firewall to prevent the economic problems of ...

FOREX: Dollar Torn Between Euro Crisis Fears, Dovish Bernanke Outlook
By DailyFX 02/02/12 - 02:45 AM EST By Ilya Spivak, Currency Strategist Currency markets consolidated in overnight trade, with the US Dollar (ticker: USDollar ) little changed against most of its leading counterparts (the Australian Dollar was a sole ...

Germany's policy prescription re the Euro Zone is (quite rightly ...
By Kiron Sarkar
A number of you think I have been transformed into a raging bull. I certainly have not. It is just that I remember the lessons of 2009, when the FED and other.
The Big Picture

Calafia Beach Pundit: Still more improvement in the Eurozone
By Scott Grannis
I've been highlighting the importance of swap spreads as good leading indicators for over three years, and three weeks ago I noted how euro basis swap spreads (a measure of the difficulty that Eurozonebanks are having in obtaining dollar ...
Calafia Beach Pundit

Has The Eurozone Credit Crunch Been Averted? - Seeking Alpha
By Shareholders Unite
For instance, apart from raising new capital to meet the 9% tier one standard, about 230B euro of bank bonds had to be repaid in the first quarter, but few euro zone banks seems able to tap the markets. For the whole of 2012, there is a ...
SeekingAlpha.com: Home Page

Deutsche Bank's Net Profits Down 69 Perent On Eurozone Debt Crisis
By The Huffington Post News Editors
FRANKFURT, Germany -- The eurozone debt crisis took its toll on Germany's Deutsche Bank and its investment banking businesses, sending fourth-quarter net profits down 69 percent to euro186 million ($245.06 million). Net profits fell far ...
The Huffington Post | Full News Feed

Euro crisis, earthquakes slam Munich Re profits - The Local
Munich Re, the world's biggest reinsurer, said Thursday that profits plummeted last year due to heavy losses from both the eurozone debt crisis and a string of natural catastrophes.
The Local - Germany's news in English

The Euro Crisis Presents a Unique Opportunity for Freelancers
By FreelanceSwitch.com
Unless you've been living underneath a very large rock for the past couple of years, you've probably heard that Europe ...

A weekend guide on the global financial crisis « Mostly Economics
By Amol Agrawal
The financial crisis of 2007‐2009 was perhaps the most important economic event since the Great Depression. All professional economists need a working knowledge of the key details of this crisis. This paper summarizes these details using ...
Mostly Economics

Opinio Juris » Blog Archive » Julian Arato on the Eurozone Crisis ...
By Kenneth Anderson
In my last comment, I said that the 2009 decision in Lisbon looms like a specter over the Eurozonecrisis. Let me explain a bit more why and how. The key point is that in Lisbon the Court construes the entrenchment of Germany's “democratic ...
Opinio Juris

Forex - EUR/GBP remains lower after euro zone debt auctions By ...
By Forexpros
Forex - EUR/GBP remains lower after euro zone debt auctions.
Forex Pros RSS News Feed | Forex News

Increased positive outlook in the euro zone | Olive Press Newspaper ...
By Smart Currency Spain
Solid euro zone bond auctions eased the negative sentiment towards the euro zone and Portugal in particular.
Olive Press Newspaper Spain

Eurozone PMI Manufacturing points to stall in Q1 2012 ...
Though several European PMIs surprised to the upside in January overall Eurozone PMI Manufacturing is still pointing to a stall.
Tradingfloor.com - the home of...

XE.com - Euro zone Dec producer prices fall m/m as expected
Cheaper energy pulled down euro zone producer prices as expected in December against the previous month, data showed on Thursday, in a sign inflationary pressures early in the pipeline eased as the economy possibly contracted at the ...
XE Forex News

No Country Will Exit the Euro Zone This Year: Jim Rogers
Billionaire investor and chairman of Singapore-based Rogers Holdings, Jim Rogers believes that no country will exit the euro zone this year. “I don't think we'll see anybody will leave the euro zone in 2012, there are 40 elections in 2012 there ...

Tightening lending standards vary materially across the Eurozone
By Walter Kurtz
FT: A European Central Bank survey on Wednesday showed the eurozone debt crisis has triggered a severe credit squeeze across the region with banks imposing significantly harsher loan terms on businesses and consumers. Demand for ...
Sober Look

Euro zone inflation stable, bets still on for ECB rate - Yahoo! Finance
From Yahoo! Finance: Consumer price inflation in the euro zone remained at 2.7 percent for the second straight month in January, data showed on Wednesday, ...

Fitch Downgrades Ratings of Five Eurozone States | Business | RIA ...
Ratings of Italy and Spain, two Eurozone economic heavyweights, were slashed by two notches . The countries now have the ratings of A- and A, respectively.

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