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

Monday, February 6, 2012

Euro zone insists no Greek rescue without reforms

Euro zone insists no Greek rescue without reforms
Reuters
By Jan Strupczewski | BRUSSELS (Reuters) - Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro ...

Euro crisis and global downturn
Himalayan Times
The root causes of financial crisis followed by debt-led euro crisis and their contagion etc are now gradually creating ground for the urgency of lternative economic policy regime that could contribute to augment equitable growth and create jobs ...

China 'has stake' in euro crisis
Irish Times
China has a stake in helping euro zone countries get through their debt crisis, Chinese premier Wen Jiabao said in comments published today, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.
 
Irish Times

Real problem of eurozone
Korea Times
By Patrick Artus The downgrade of the ratings of several eurozone countries, especially of France, Spain and Italy, is the subject of very divergent comments and analyses. It is sometimes argued that eurozone countries' fiscal policies should be made ...

Korea Times

Pharma seeks to ease pain of euro crisis
Financial Times
By Andrew Jack in London With Greece and Spain struggling to repay billions of euros in outstanding debts to the healthcare sector as the eurozone crisis festers, Merck of Germany is stepping up action to ease the pain. “We have introduced cash on ...

Financial expert claims that eurozone crisis is 'probably now behind us'
WalesOnline
by Rhodri Evans, Western Mail THE “crisis” in the eurozone is probably now behind us, according to a leading market expert. Speaking on a visit to meet investors in Cardiff, Mike Lenhoff, chief strategist at Brewin Dolphin, said he believed that recent ...

Eurozone debt crisis: Germany wages war against 'burnout'
Economic Times
BERLIN: Germany, holding up better than its eurozone partners in the current debt crisis, is battling the increasingly widespread phenomenon of "burnout" which it says is costing its economy billions of euros (dollars) each year.

Euro crisis, earthquakes slam Munich Re profits
New Europe
Munich Re, the world's biggest reinsurer, said on 2 February that profits plummeted last year due to heavy losses from both the Eurozone debt crisis and a string of natural catastrophes, The Local reported. Munich Re said in a statement it booked ...

Eurozone loses patience with Greece
ForexLive (blog)
By Gerry Davies || February 5, 2012 at 09:10 GMT They think, that we think that the unthinkable cannot be thought. But they better think again,” the first official said The content of this field will not be shown publicly. http://uk.reuters.com/article/2012/02/04/uk-eurozone-idUKTRE8130TL20120204

[David Ignatius] Two cheers for the ECB president
The Korea Herald
WASHINGTON ― Two years into the European debt crisis, there was something faintly comical about a recent headline in Wall Street Journal: “Leaders of Euro Zone Agree on Closer Union.” That phrase must be on a program key on computers in Brussels.

London stock market warning: Shares could dive 30 per cent if euro dissolves ...
This is Money
By Simon Watkins London stock market could slump by as much as 30 per cent - with financial shares collapsing by 60 per cent - if the eurozone debt crisis leads to a break-up of the single currency. The warning comes as Greece battles to reach a deal ...

Hamish McRae: We can survive a eurozone slowdown, but only if the Chancellor ...
The Independent
Here's a puzzle: can the UK manage to continue its, albeit scruffy, recovery this year if theeurozone slips back into recession? It is a question that the Bank of England's monetary committee will have to contemplate this week as it decides whether to ...

With job spurt, US economy races ahead of Europe
AFP
Economists said the American economy is shaking off the debt woes of the eurozone, where unemployment has hit 10.4 percent, the highest since the creation of the single currency. Some 1.9 million US jobs have been created in the past five months, ...

AFP

Stuck between a Bric and a volte-face
Financial Times
It will also encourage those currently posing the following question: should Germany detach itself from the eurozone mess and become a Bric – a mid-sized global economic power, like Brazil, Russia, India and China, whose initials constitute the Bric ...

India not out of woods totally, says Pranab on food inflation fall
Times of India
On the outlook for the near future, he said: "Given the Eurozone problems, the overall scenario is not very encouraging...If a credible package for the Eurozone is worked out and if the US economy stablises, then in the next couple of years we must be ...

TCS upbeat as its Europe exposure out of euro zone
mydigitalfc.com
TCS is confident that even if the Euro zone's troubles do not get solved soon it would continue to see growth in business there. “When companies have problems they have got to cut their budgets. In such a scenario they find that the value created by ...

Most Germans want Greece to quit euro - poll
Reuters India
Euro zone ministers had hoped to meet this coming Monday to finalise the second Greek bailout, which must be in place by mid-March to prevent a chaotic default, but the meeting was postponed because of reluctance in Athens to commit to reforms.

What Obama does today, Europe will do tomorrow
Hindu Business Line
He added that the Eurozone crisis was only a blip on the radar and would not affect the Indian IT industry in the long run. eW: How is the Eurozone crisis affecting the Indian IT industry? LN: This is the early stage of a mega trend.

Hindu Business Line

Greece Perilously Close To Default
24/7 Wall St.
Greece is within a day of a catastrophic default the ripple effects of which could put immense pressure on other troubled eurozone nations, particularly Portugal. The government has been told by its eurozone neighbors that if the country's Parliament ...

More services likely in tax net; negative list on cards
Chandigarh Tribune
PTI Eurozone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF. Eurozone ministers had...

Chandigarh Tribune

Fifty Three Percent Of Germans Think Greece Should Leave Eurozone
24/7 Wall St.
About the future of Greece will continue wrestling: The Greek Finance Minister Evangelos Venizelos negotiated yesterday by telephone with his fellow euro-zone on a second rescue package. 53 percent of Germans believe, however, that it would be better ...

Needed, caring capitalism
The Hindu
They were in a mood to question everything, starting from the steps being taken to finding a just resolution to the eurozone crisis to the problems posed by capitalism. The theme, 'The Great Transformation: Shaping New Models', clearly indicated that ...

How To Profit As Central banks Throw The Euro A Life Raft (UUP, FXE, FXI, VGK ...
ETF Daily News (blog)
And that is going to continue — not only because the European Central Bank is working overtime to save the euro zone, but because its counterparts are also complicit in this game to keep interest rates down and credit lines open.

For the record
The Guardian
"Downgrades, debt and junk: key questions about the eurozone crisis answered" (Business), said: "The [Eurozone financial stability facility] fund has already committed large sums to Greece, Ireland and Portugal and will need to raise more money should ...

Taylor Wimpey alone in Majorca
Telegraph.co.uk
The eurozone debt crisis has left British construction firm Taylor Wimpey as the last homebuilder still actively developing on the Spanish island of Majorca. Taylor Wimpey says it has been left the only developer currently active on the island.

Telegraph.co.uk

The CDB: Realities and challenges
Jamaica Observer
INDICATORS of likely worsening of the Eurozone economic crisis in 2012 could have a negative impact on funding resources for the Caribbean Development Bank (CDB) just when it needs to be in an improved position to better assist its borrowing member ...

Jamaica Observer

Underwriting, Online Trading to Boost CIMB Securities' Strategy in Indonesia
Jakarta Globe
The company is bullish on its investment banking and securities businesses in Indonesia this year thanks to the country's ratings upgrade and resilience against theeuro zone crisis. (Agency Photo) CIMB Securities Indonesia, a part of Malaysia's CIMB ...

Jakarta Globe

Cultural Exchange: 'EuroCrash!' laughs in the face of financial meltdown
Los Angeles Times
By Mark Ehrman, Special to the Los Angeles Times In Europe, seeing the ministers and heads of state doing their song-and-dance routines over how best to resolve the long-running financial crisis might be commonplace, but for a brief engagement at a ...

Los Angeles Times

There's a case for ending QE but will the Bank of England listen?
The Guardian (blog)
Fire-fighting by the European Central Bank (ECB) has eased fears that the eurozonewill slide into a severe recession this year. Upbeat surveys of both the manufacturing and service sectors suggest that the UK should return to growth in the first ...

The Guardian (blog)

NewsDaily: Euro zone insists no Greek rescue without reforms
By Jan Strupczewski
Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF.
NewsDaily: Business Headlines

Prison Planet.com » The Euro Zone and the Crisis of Sovereign Debt
By admin
The creation of the euro zone may have given participants one currency, but it created other problems as well. One interest rate was supposed to fit all. Those sovereigns on the financial periphery of the 17 nations found low interest rates too ...
Prison Planet.com

Eurozone refuses Greek rescue without reforms - Business - Mail ...
Eurozone ministers have told Greece they could not go ahead with an agreed deal to restructure privately held debt until it guaranteed reforms.
Mail & Guardian News Feed

The Coming Crisis: Eurozone insists no Greek rescue without reforms
By Lynsey
Euro zone ministers had hoped to meet on Monday to finalize the second Greek bailout, which has to be in place by mid-March if Athens is to avoid a chaotic default, but the meeting was postponed because of Greek reluctance to commit to ...
The Coming Crisis

Transmission of Sovereign Risk in the Euro Crisis
By repec
We assess the role of financial linkages for the transmission of sovereign risk in the Euro Crisis. Building on the narrative approach by Romer and Romer (1989), we use financial news to identify structural shocks in a VAR model of daily ...
PoliEcon

Euro zone loses patience with Greece (Reuters) | 1 Pakistan News
By YAHOO
1 Pakistan News : Reuters - Euro zone finance ministers told Greece on Saturday it could not go ahead with an agreed deal to restructure privately-held debt until.
1 Pakistan News

Weekly Fundamentals – Germany Calls China for Investing in ...
By RSS Feed
central bank meeting. Germany's Chancellor Angela Merkel started her 3-day trip in China, meeting leaders of the world's second largest economy for discussions on resolution of the Eurozonesovereign debt crisis, Iranian and Syrian issues, ...
Clearing and Settlement — Clearing...

Lessons not learned from the financial crisis « Rturpin's Blog
By rturpin
Francis Fukuyama provides a great interview on five books that explain parts of the financial crisis. Among his take-away points: Lloyd Blankfein [CEO of Goldman Sachs] doesn't get up in the morning and say, “OK. How are we going to ...
Rturpin's Blog

UPDATE 1-New Greek package may need up to 145 bln from euro ...
By MrMukMuk
BRUSSELS Feb 3 (Reuters) – Euro zone governments may have to provide up to 145 billion euros to Athens under a second emergency loan programme for Greece, EU sources said on Friday, 15 billion euros more than previously expected.
weareallmukmuks.com

Euro zone insists no Greek rescue without reforms | Bogobogo
By admin
BRUSSELS (Reuters) – Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it gua...
Bogobogo

Fitch cuts Italy, Spain, other euro zone ratings - Business - msnbc.com
NEW YORK (Reuters) - Fitch Ratings on Friday downgraded the sovereign credit ratings for Italy, Spain, Slovenia, Belgium and Cyprus indicating there is a ...
www.msnbc.msn.com/.../fitch-cuts-italy-spain-other-euro-zone...

Feeling more positive about the eurozone crisis? Don't | Business ...
Phillip Inman: Psychologists may say today is the happiest Monday of the year, but for theeurozone this early spring euphoria smacks of desperation.
www.guardian.co.uk/.../feeling-positive-eurozone-crisis-dont

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