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

Friday, February 17, 2012

Eurozone debt deal hopes push euro higher

Euro zone debt deal hopes push euro higher
National central banks within the euro zone are set to exchange their holdings of Greek bonds into new bonds in the run-up to a private sector debt deal to avoid any forced losses, euro zone sources said on Thursday. The swap is to happen over the ...

Eurozone calls for tighter Greek surveillance
By GABRIELE STEINHAUSER and ELENA BECATOROS Greece has made progress convincing the rest of the eurozone that it should get a euro130 billion ($170 billion) bailout -- but the country's austerity efforts will need much tighter surveillance, ...

Greek bailout deal targeted for Monday: euro zone officials
By Jan Strupczewski | BRUSSELS (Reuters) - The euro zone is putting the finishing touches to a second bailout deal for Greece for finance ministers' approval on Monday, with the focus on how Greece can prioritize debt repayment and ways to ensure ...

Greek bailout deal targeted for Monday - euro zone officials
Deal on second Greek bailout seen on Monday * Reports says Greek debt to reach 129% of GDP in 2020 * Euro ministers to fine-tune bailout parameters By Jan Strupczewski BRUSSELS, Feb 16 (Reuters) - The euro zone is putting the finishing touches to a ...

Contagion fears back on Greek bailout uncertainty
Jean-Claude Juncker, who heads eurozone finance meetings, promised more clarity on Monday, when he said decisions will be made. Over the past few days, doubts grew that the bailout deal may be unravelling and on Wednesday relations between Greece and ...

Eurozone crisis: Greek government claims EU bailout deal is close
The Guardian
... Brussels to defuse the tension that has been building between Greece and Germany over the past week, it appeared that the austerity stricken southern European country had found the additional budget cuts being demanded by the rest of the eurozone.

The Guardian

Latest developments in Greece's financial crisis
By AP Eurozone finance ministers Wednesday welcomed progress made by Greece in implementing strict austerity programs in return for a euro130 billion ($170 billion) bailout. However, the group wants to put the country under even tighter surveillance ...

European Stocks Drop
Wall Street Journal
Investors have been left shaken since reports emerged Wednesday that euro-zone officials are considering a delay to all or part of Greece's second bailout package until after the country's general election, expected to take place in April.

President of the European Commission seeks to calm nerves in war of words over ...
Washington Post
BRUSSELS — The debate over what Greece must do to get more rescue loans has sparked a war of words with other eurozone countries, with top politicians trading barbs over Greece's trustworthiness as a borrower. In recent days, politicians from Germany ...

Greece Expects Eurogroup To Approve Loan Monday
Wall Street Journal
ATHENS (Dow Jones)--Greece's government expects its euro-zone partners to approve a EUR130 billion bailout for the country at a meeting of finance ministers next week, government spokesman Pantelis Kapsis said Thursday at a briefing.

Greece, Germany and the Eurozone Sovereign Debt Crisis
Huffington Post
The current Eurozone debt crisis is not only an acute economic and debt crisis. It is also political farce, with a heavy dose of irony. The motivation for the creation of the euro was noble; the European continent had ripped itself apart over centuries ...

Eurozone economy shrinks by 0.3 percent in Q4
The 17-nation eurozone economy contracted by 0.3 percent in the final three months of 2011 as many countries slipped back into recession, official figures showed Wednesday, in a clear sign that the impact of Europe's debt crisis has hit every country ...

Euro zone ministers eye February 20 meeting on Greece
Reuters UK
By John O'Donnell and Luke Baker | BRUSSELS (Reuters) - Eurozone finance ministers abandoned a plan to gather on Wednesday to discuss aid for Greece and instead decided to talk by phone as they continued to grapple with unresolved problems over a ...

Euro countries voice doubts over Greek bailout
By GABRIELE STEINHAUSER and ELENA BECATOROS Some eurozone countries have strong doubts over whether a second massive bailout can actually save Greece, officials said Wednesday, even as Athens rushed to meet tough conditions to qualify for the euro130 ...

Eurozone members want Greece out
16 (UPI) -- A top Greek official accused the eurozone of repeatedly upping the ante for a $170 billion bailout because key players want Greece out of the single currency. "There are many in theeurozone who don't want us anymore," Deputy Prime Minister ...

Eurozone holds off on approving second bailout for Greece
Los Angeles Times
The decision came despite a last-minute scramble by Athens and capped a day of escalating tension between Greece and its Eurozone partners, including unusually blunt remarks from top Greek officials, who accused other Europeans of trying to boot their ...

Los Angeles Times

EU contagion fright back
Khaleej Times
Over the past few days, fears have grown that the bailout deal may be unraveling and on Wednesday relations between Greece and its partners in the eurozone hit a new low. Greek Finance Minister Evangelos Venizolos told the country's president, ...

Some Eurozone Countries 'Don't Want Us Any More': Greek Finance Minister
Business Insider
The Greek Finance minister has hit out at some eurozone nations who he claims do not want his country in the single currency any longer as the brinkmanship over a second bailout for Greece continues. Doubts remain over whether the austerity measures ...

Business Insider

European shares fall on Greek delays
A messy default of Greece would increase pressure on other debt-laden euro zone countries in the debt market and fuel concerns of other defaults. Banking stocks, which are heavily exposed to euro zone sovereign debt, were the biggest drag on the ...

AP Source: Plans to reduce Greek debt to sustainable levels are far off target
Washington Post
The fact that even substantial new help, both from the eurozone and private bondholders, cannot sufficiently decrease Greece's debt load is one of the main reasons doubts over a second, €130 billion ($170 billion) bailout for Athens have emerged.

Eurozone crisis: what should expats do?
As a result, many Greeks have been moving their money out of Greek banks and depositing their savings in stronger eurozone countries, and indeed to London and offshore banks. While moving money out of Greece exacerbates the problem and further weakens ...


A look at economic developments around the globe
By AP BRUSSELS -- Greece has made progress convincing the rest of the eurozone that it should get a $170 billion bailout -- but the country's austerity efforts will need much tighter surveillance, the chairman of the eurozone's finance ministers said.

Eurozone crisis live: Greece bailout fears unnerve markets
The Guardian
8.03am: Shares have fallen across Europe at the start of trading, driven down by jitters over the eurozone. The FTSE 100 fell 50 points, or 0.86%, to 5841. There are steeper losses in other markets – Germany's DAX fell 1.3%, the Spanish IBEX dropped by ...

The Guardian

Greece rescue at crossroads as debt cut shortfall grows
Sydney Morning Herald
A massive rescue package for Greece faced a substantial rewrite on Thursday after officials revealed that Athens would miss its debt targets and divisions deepened over its future in the eurozone. "We're back to square one," Dutch Finance Minister Jan ...

Greece bailout: Eurozone calls for tighter oversight
BBC News
Eurozone finance ministers have demanded much greater oversight of Greece's economy in return for a 130bn-euro (£110bn; $170bn) bailout package. In a three-hour conference call on Wednesday, the ministers scrutinised Greece's planned budget cuts.

BBC News

Summary Box: Eurozone economy contracts in 4Q
By AP THE BIG CHILL: The economy of 17-nation eurozone contracted 0.3 percent in the final three months of 2011 versus the previous quarter, the first since the second quarter of 2009, the European Union's statistics agency said Wednesday.

Eurozone sliding toward recession, new figures show
Austin American-Statesman
World Bank President Robert Zoellick said Wednesday that he will step down this summer after enduring the global financial crisis. As part of a technology change, commenting will not be available on some articles for a number of months.

Austin American-Statesman

Greece seeks Monday bailout deal, EU questions remain |
By Dina Kyriakidou and Lefteris Papadimas | ATHENS (Reuters) - Greece expressed hope it can secure its second EU/IMF bailout in as many years and a deal on easing its debt burden next week, but its euro zone peers made clear the months of increasingly ...

Greece heads for debt deal, eurozone tightens controls | Bangkok Post: news
Bangkok Post
Greece on Thursday grappled with the notion of direct fiscal control from Brussels as it rushed to finalise a eurozone debt rescue and overcome mounting EU scepticism in time to avert bankruptcy. Employees of the state-owned Labor Housing Organization ...

Doubting Greeks' Resolve, Euro Zone May Hold Back Full Bailout
New York Times
Financial experts say they still expect the deal to go through in some form, but the haggling and potential changes — spiced by a remark from the Greek finance minister, Evangelos Venizelos, that “there are many in the euro zone who don't want us ...

ECB To Fund Eurozone Central Banks As PSI Sweetener | ZeroHedge
By Tyler Durden
A number of headlines from Bloomberg, via Die Welt, that the ECB will undergo a bond swap with the NCBs on their greek government bonds and the 'profit' will flow to governments. *ECB SWAPPING GREEK BONDS FOR NEW GREEK ...

XE.com - Greek bailout deal targeted for Monday - euro zone officials
The euro zone is putting the finishing touches to a second bailout deal for Greece for finance ministers' approval on Monday, with the focus on how Greece can prioritise debt repayment and ways to ensure Athens implements agreed reforms.
XE Forex News

Euro zone central banks to exchange Greek bonds for new ones ...
ECB/ Greek debt swap to be completed over the weekend ECB to profit from bond swap. according to Die Welt EUR/USD firming, now at 1.3070.

Euro zone crisis: the view from the Continent's east side ...
By joetaxpayer
“There is a financial crisis in the euro zone. This has had a psychological effect on Poles, but I do not think it has had a fundamental influence on our attitude towards the European Union, which remains positive. There is a deep-rooted social ...

Eurozone: Bailing out the bailout | Tradingfloor.com
By Neil Staines
For the very short term I would expect the deterioration in risk appetite to go a bit further into the weekend as the short-term risk positive market positioning is unwound.
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Iran Targets Weakest of EU Members (PIIGS) with their Counter ...
By willyloman
The countries are mainly the nations designated as the “PIIGS” countries that the EU and European Central Bank so called them due to their poor economic standing after the bank-made global economic crisis of 2008: Portugal, Ireland, Italy, ...
American Everyman

Eurozone Pressures Greece As The Euro Declines
By Richard Lee
Eurozone finance ministers are stepping up the pressure on Greece, hoping to ensure that measures proposed by the fiscal agreement submitted last week will be implemented without any disruptions. Even as Greek officials remain ...
Forex Alliance

Douglas Carswell MP: Euro crisis; the Treasury response got it very ...
Euro crisis; the Treasury response got it very wrong.
TalkCarswell RSS Feed

Greek finance minister says EU bailout disputes solved — RT
Greece has clarified all issues surrounding the country's austerity program for this year, Finance Minister Evangelos Venizelos says. But some sources claim EU finance chiefs still plan to delay a second bailout for the crisis-stricken country.
News RSS : Today

Eurozone Central Bank debt swap deal to spare their bonds from ...
By Greg Michalowski
New Greek bonds ill have the same characteristic as the original bonds. The move by the central bank to exchange old Greek bonds for new ones is thought to help the Greek debt situation as Greece will not have to pay the now higher rate.
Forex News and Commentary by FXDD

Euro-zone ministers see Greek deal next week - MarketWatch
SYDNEY (MarketWatch) -- Euro-zone finance ministers held off on approving the country's second tranche of aid, saying late Thursday that the Greek parliament ...

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