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

Wednesday, February 15, 2012

Eurozone ministers eye Feb. 20 meeting on Greece

Eurozone ministers eye Feb. 20 meeting on Greece
Reuters
Next euro zone gathering planned for Feb. 20 * Eurogroup's Juncker- still waiting for Greek political commitments By John O'Donnell and Luke Baker BRUSSELS, Feb 14 (Reuters) - Eurozone finance ministers abandoned a plan to gather on Wednesday to ...

Eurozone wrangles over Greek bond-swap deal
Atlanta Journal Constitution
By GABRIELE STEINHAUSER AP BRUSSELS — As Greece scrambles to implement painful new budget cuts and reforms, the other member countries of the eurozone are trying to ensure Greece will be able to manage its debts after it receives a second massive ...

China non-committal on euro zone despite Merkel plea
Reuters
China offers support to Europe but no details * Euro crisis has turned a corner, Van Rompuy says * Jobs, growth best way to secure Europe's recovery BEIJING, Feb 14 (Reuters) - China is ready to help resolve Europe's debt crisis, its premier said on ...

Moody's Downgrades 6 Euro-Zone Nations, UK Outlook; Hurts Euro
Wall Street Journal
Moody's additionally revised its outlooks on the top-notch ratings of Austria, France and the UK to negative, highlighting the impact of the euro-zone debt crisis beyond the currency bloc. The downgrades weighed on the euro, which fell to $1.3152 from ...

Euro zone output falls, GDP set to contract
Reuters
Industrial production falls 1.1 pct in December * Euro zone economy likely shrunk in fourth quarter * Economists still see improvement from January By Robin Emmott BRUSSELS, Feb 14 (Reuters) - Output at factories in the euro zone tumbled in December, ...

US STOCKS-Futures flat after euro-zone downgrades
Reuters
Moody's also downgraded six euro-zone nations, including Spain and Italy. But data from Germany suggested that Europe's bulwark economy is picking up pace again. The Mannheim-based ZEW economic think tank's monthly poll of economic sentiment jumped to ...

Euro zone woes send UK property returns to 2-yr low
Reuters
"With so much uncertainty still surrounding the future of the UK and the euro zone, and reports indicating that the UK economy is falling back into recession, it's no surprise that demand from tenants remains lacklustre across all sectors," IPD's ...

Successful eurozone bond auctions ease market anxiety for now
The Guardian
Debt issued by the eurozone's weakest states has been sold at rates more favourable to governments, particularly for short-term loans, since the ECB's €500bn long-term refinancing operation (LTRO) in late December. Annalisa Piazza, economist at Newedge ...

The Guardian

New Euro Crisis Book to Demystify the Economic Issues Facing Europe
Sacramento Bee
By Wiley The problems facing the Eurozone are one of the biggest news, political and economic stories of this generation, yet the complexities have caused confusion to many in the UK. Responding to assist the puzzled public, The Euro Crisis For Dummies ...

Euro zone woes make Poles want to keep zloty- survey
Economic Times
WARSAW: The uncertain economic situation and fear that the euro zone debt turmoil could spill over to Poland make most Poles opposed to adopting the euro, a survey showed on Tuesday. Sixty per cent of Poles do not want the euro to replace the national ...

Eurozone crisis an opportunity for Indian IT: Expert
Times of India
India's Information Technology sector is well placed to take advantage of the current Eurozone crisis. PARIS: India's Information Technology sector is well placed to take advantage of the current Eurozone crisis as an increasing number of companies ...

FOREX-Yen weakens on BoJ easing but euro zone worries stem fall
Reuters
... Feb 14 (Reuters) - The yen fell on Tuesday as the Bank of Japan eased monetary policy by expanding its asset-buying scheme, but the impact on the currency may prove short-lived while nagging worries over the euro zone crisis keep it supported as a ...

German economy pulls away from European pack
Reuters
This contrasted starkly with other European data showing output at factories in the euro zone tumbled in December and Portugal's recession deepened in the last quarter of 2011. A Reuters poll showed the euro zone economy shrinking 0.4 percent in 2012, ...

Selling Gains Steam on Wall Street as Eurozone Meeting is Scrapped
Fox Business
US stocks retreated Tuesday afternoon as Wall Street's economic and eurozone concerns were renewed by a weaker-than-expected retail sales report and the cancellation of a key meeting on the Greek bailout. As of 2:49 pm ET, the Dow Jones Industrial ...

Eurozone wrangles over Greek bond-swap deal
STLtoday.com
As Greece scrambles to implement painful new budget cuts and reforms, the other member countries of the eurozone are trying to ensure Greece will be able to manage its debts after it receives a second massive bailout. When the currency union's leaders ...

Eurozone wrangles over Greek bond-swap deal
Newsday
Click here Eurozone wrangles over Greek bond-swap deal Originally published: February 14, 2012 5:04 AM Updated: February 14, 2012 6:19 AM By The Associated Press DAVID McHUGH (AP Business Writers), GABRIELE STEINHAUSER (AP Business Writers) (AP) -- As ...

Eurozone ministers cancel Greece debt meeting
Aljazeera.com
Decision follows demands by eurozone members that country detail how it intends to cover its $428m budget gap. European finance ministers have cancelled a meeting scheduled for Wednesday that was to discuss Greece's second bailout.

Aljazeera.com

UK austerity v US stimulus: divide deepens as eurozone cuts continue
The Guardian
But we need to find more substance to it," says a government minister from aeurozone country That effort is hampered, however, by the acute differences in perception on the crisis – its roots, causes, and cures. In Germany, the key to the euro's fate, ...

The Guardian

Eurozone crisis not hurting hotel demand
Air and Business Travel News
The ongoing eurozone crisis has yet to hit the hotel industry according to the world's largest hotel company IHG. IHG (InterContinental Hotels Group) said it had seen “no sign yet” of demand being reduced by the financial crisis within the EU.

Stocks: Mixed signals out of Europe
CNN
On one hand, Moody's downgraded six eurozone countries -- Italy, Malta, Portugal, Slovakia, Slovenia and Spain -- late Monday, and the credit rating agency also warned that it may also cut the outlooks for Aaa-rated Austria, France and the United ...

Industrial production down by 1.1% in Eurozone in December 2011; Down by 0.6 ...
FinFacts Ireland
By Finfacts Team In the month of December 2011, seasonally adjusted industrial production fell by 1.1% in the Eurozone (EA17) and by 0.6% in the EU27. In November production remained stable in both zones. In the year to December, industrial production ...

FinFacts Ireland

Eurozone downgrades hit local market
The West Australian
The Australian sharemarket rally stalled again after ratings agency Moody's downgraded six eurozone nations and reports that Germany was not ready to sign off on Greece's second bailout. The S&P/ASX fell 42.3 points, or 0.99 per cent to 4242.8 points ...

The West Australian

Large Banks, Broker-Dealers Could Face 'Financial Crisis Responsibility Fee ...
Thompson.com
A “financial crisis responsibility fee” that could hit up broker-dealers as well as large financial institutions for the cost of expensive bank bailouts during the financial crisis that began in 2008 was unveiled at Treasury headquarters Feb.

S&P says euro crisis will hurt GCC development
The National
European banks have cut lending lines to the region as a result of market headwinds emanating from the euro-zone's sovereign-debt crisis, which have left lenders racing to raise capital and fill a shortfall estimated at €78 billion (Dh377.94bn) by the ...

The National

The Greek Left Strikes Back
Wall Street Journal (blog)
By Matina Stevis Leftist and progressive parties across the euro-zone have seen their popularity plummet with the rise of fiscal conservatism as the new orthodoxy over the last couple of years. In Greece the socialist Pasok party has suffered repeated ...

Newsdesk live - how we cover the Eurozone debt crisis
The Guardian (blog)
Today I'll be focusing on our coverage of the Eurozone debt crisis. For those who want to read the latest news developments, our business live blog and Andrew Sparrow's politics blog can bring you up to speed. Here we'll be asking what readers want ...

OECD sees Germany growth at 0.4% in 2012: Economy Ministry
Economic Times
"Due to weak foreign trade and the debt crisis in the eurozone, the OECD sees price-adjusted growth in gross domestic product in Germany of 0.4 percent," the ministry said, ahead of the report's official publication. The German government itself ...

Iceland Keeps Rates Unchanged as Euro Crisis Weighs on Growth
BusinessWeek
Policy makers in December halted a tightening cycle started last year to protect the economy from the fallout of the euro crisis, which threatens export-reliant nations such as Iceland. Iceland, whose banks defaulted on $85 billion in 2008, ...

CASSH: The Next PIIGS? | The Big Picture
By Barry Ritholtz
click for full graphic full graphic after the jump Five Countries That Offer Hidden Value Hat tip Dave Wilson via i Shares.
The Big Picture

Moody's Downgrades Six Eurozone Nations
By Chuck Butler
Chuck Butler discusses Moody's downgrade of six Eurozone nations alongside the moves in various currencies versus the US dollar.
The Daily Reckoning

Eurozone Leaders Still Wary of Second Greek Bailout | FDL News ...
By David Dayen
Greek lawmakers held up their end of the bargain by agreeing, despite mass riots in Athens, to crushing austerity measures required by the.
Firedoglake

EUR/USD: Trading the Eurozone GDP | Forex Crunch
By kenny
The Gross Domestic Product (GDP) indicator is a measurement of the production and growth of the economy. Analysts consider GDP one the most important.
Forex Crunch

Greece should stay inside the Eurozone - expert: Voice of Russia
By Kudashkina Ekaterina
Interview with Zsolt Darvas, research fellow at Bruegel, which is the independent European economic think tank based in Brussels., Kudashkina Ekaterina.
Voice of Russia, News

EMU DATA: Industrial production in the Eurozone fell. | ForexLive
EMU DATA: Industrial production in the Eurozone fell by an expected 1.1% on the month in December after stabilizing in November, lowering output levels 2.0%
ForexLive

Eurozone Finance Ministers Won't Meet, Greece Has Not Yet Done ...
By Simone Foxman
Reuters reports that Eurozone finance ministers will probably not hold a planned meeting in Brussels tomorrow as the paperwork for Greece's austerity plan is still incomplete. Instead, they're expected to hold a conference call. Evidently, it's ...
Clusterstock

XE.com - UPDATE 1-Eurozone ministers eye Feb. 20 meeting on ...
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 financial rescue plan.
XE Forex News

The Left's financial crisis narrative lies behind Obama's new tax ...
By Peter J. Wallison
If there was ever any doubt that the causes of the financial crisis are still a relevant issue, it has been erased by the president's budget and his call for new assessments on banks and other financial institutions. The budget contains a “financial ...
The Enterprise Blog

Big Wednesday Critical for Eurozone and Euro Traders
By Barbara Zigah
(eToro Blog) Two major events are going to occur tomorrow in the Eurozone, both of which will have a major impact on the Euro, as well as the European bourses.
eToro Blog

Eurozone Wrangles Over Greek Bond-Swap Deal | Stock Market ...
By Editor - Finance Top Stories
BRUSSELS (AP) -- As Greece scrambles to implement painful new budget cuts and reforms, the other member countries of the eurozone are trying.
Rocket News

EU debt crisis: Eurozone ready to punish Spain | Economy | News ...
A final decision still has to be made, but the European Commission believes the new government overstated the deficit figures for 2011 so the current year's data would look better.
FP Top Stories List

Euro zone puts Greek plan under microscope (Reuters) | Wall Street ...
By Yahoo! News: Business - European Economy
Reuters - Greece's bid for a new bailout got close inspection on Tuesday from euro zone officials poring over the details of Athens' budget to decide whether it has met conditions to get the money. Short URL: http://www.wallst.net/?p=472847 ...
Wall Street Financial News

Euro zone insists no Greek rescue without reforms Alex Jones ...
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 ...
www.infowars.com/euro-zone-insists-no-greek-rescue-without...

Eurozone crisis has brought a reluctant Germany to the fore - Los ...
In 1953, the novelist Thomas Mann appealed to an audience of students in Hamburg to strive for "not a German Europe but a European Germany." This stirring ...
articles.latimes.com/.../la-oe-gartonash-germany-20120209

Failed forecasts and the financial crisis: How to resurrect economic ...
The database includes models of the US economy, the Eurozone, and several multi-country models. Some of the models are fairly small and focus on explaining ...
www.voxeu.org/index.php?q=node/7616

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