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

Thursday, February 16, 2012

Eurozone ponders delay of 2nd Greek program

Euro zone ponders delay of 2nd Greek program
Reuters
By Luke Baker and Jan Strupczewski | BRUSSELS (Reuters) - Euro zone finance officials are examining ways of delaying parts or even all of a second bailout program for Greece while still ensuring it avoids a disorderly default, several EU sources said ...

Euro zone economy shrinks as north-south divide widens
Reuters
Euro zone contracts for first time since March 2009 * France surprises with growth as Greece, Italy struggle BRUSSELS Feb 15 (Reuters) - The euro zone economy's shrunk at the end of 2011 as the sovereign debt crisis crushed a recovery and looked set to ...

Eurozone Has One Foot in Recession
ABC News
The 17-nation eurozone has one foot in recession, according to official figures showing the economy contracted 0.3 percent in the final three months of 2011 from the previous quarter, a clear sign that Europe's debt crisis has spared no country in the ...

ABC News

Gold rises against darkening euro zone backdrop
Reuters
By Veronica Brown and Amanda Cooper | London (Reuters) - Gold rose in Europe on Wednesday, helped in part by a softer dollar, as investors sought clarity on prospects for a second Greek debt bailout and the outlook for growth in the euro zone.

China to keep investing in euro zone debt: China central bank
Reuters
By Aileen Wang and Nick Edwards | BEIJING (Reuters) - China will continue to invest in euro zone government debt and it remains confident in the euro, the country's central bank governor said on Wednesday, while calling on Europeans to produce more ...

Eurozone Optimism To Boost Stocks
WGAL Lancaster
NEW YORK (CNNMoney) -- US stocks were poised for a higher open Wednesday, thanks to better-than-expected European economic data and fresh promises from China to keep buying debt issued by eurozone governments. The Dow Jones industrial average, ...

King Says BOE Stimulus Isn't at Limit Amid Euro Crisis Risk
BusinessWeek
By Jennifer Ryan Feb. 15 (Bloomberg) -- Bank of England Governor Mervyn King said policy makers can expand their stimulus program further if needed to ward off the threat to Britain's “slow and uncertain recovery” posed by the euro region's debt crisis ...

Eurozone calls for tighter Greek surveillance
STLtoday.com
Greece's finance minister said that all pending issues in its international creditors' requirements for the country's second bailout will be completed ahead of a Wednesday evening conference call between eurozone finance ministers.

ECB ready to forego Greece bond profit
Reuters
By Gernot Heller | BERLIN (Reuters) - European Central Bank policymakers said they have no wish to book a profit on Greek sovereign bonds the ECB holds and gave a green light on Wednesday for euro zone member states to pass on the funds to Greece.

Ratings reflect old eurozone problems
Vancouver Sun
Moody's downgrade of several eurozone economies and its warning to three more may be making head-lines, but the message the move conveys - that the governments involved aren't doing enough to get their financial houses in order - is scarcely news.

Brent holds above $118 as supply trumps Euro zone woes
Reuters
EURO ZONE UNCERTAINTIES The supply risks far outweigh continued Euro zone woes and will likely keep prices above $110, Friesen said. Europe was once again mired with uncertainties as Euro zone finance ministers dropped plans for a face-to-face meeting ...

Eurozone has one foot in recession
Albany Times Union
Britain's AAA credit rating was put on a "negative outlook" by ratings agency Moody's Tuesday, amid fears over weaker growth prospects and potential shocks from the eurozone crisis. Britain's Chancellor George Osborne said the assessment was a ...

Greek FM: several eurozone countries 'want us out'
euronews
The official line was that any outstanding issues would be resolved before a planned conference call with eurozone ministers, who cancelled a face-to-face meeting. Athens needs to make further savings of 325 million euros in this year's budget; ...

News Wrap: Eurozone Meeting on Greece Bailout Canceled
PBS News Hour
In other news Tuesday, eurozone finance ministers canceled a meeting set for Wednesday on approving a $170 billion bailout for Greece. The group plans to meet Monday after discussing how Greece will achieve promised savings. Also, in Syria, the army of ...

Euro-zone limp into recession – Equities gain on recovery hopes
Kuwait Times
—AFP LONDON: The rally in riskier assets like the euro and equities resumed yesterday on hopes a growing flood of money from major central banks will support growth as data showed the euro-zone's debt-laden economy headed for a recession.

Kuwait Times

Bovespa Advances as China's Euro Crisis Pledge Lifts Commodities
Bloomberg
The Bovespa index headed for a one- week high as China's pledge to help resolve the European debt crisis lifted commodities, boosting the outlook for Brazil's biggest companies. MMX Mineracao e Metalicos SA, the mining company controlled by billionaire ...

HANK PAULSON: The #1 Root Cause Of A Financial Crisis Is Government
Business Insider
Paulson, who is known for arranging the numerous bailouts of banks and other non-bank financial companies during the height of the financial crisis, suggested that the blame being passed around for the 2008 downturn was unevenly spread.

Business Insider

Dow seen opening higher on eurozone optimism, Zynga, MetLife in focus
Proactive Investors USA & Canada
The overall eurozone economy shrank for the first time in more than two years during the final three months of 2011, but the 0.3% quarterly drop was not as bad as economists expected. The performance was driven by a smaller-than-expected drop in German ...

Proactive Investors USA & Canada

Eurozone Economy Contracts
Daily Reckoning - American Edition
Anyway, the “but” here is that the rally was stopped in its tracks by a report out this morning that showed the eurozone economy contracted in the fourth quarter for the first time in 2½ years. The good news was that it didn't contract as much as was ...

Treasurys Rise on Euro-Zone Doubts, Retail Data
Wall Street Journal
By MIN ZENG NEW YORK—Treasury bonds lured investors on Valentine's Day, as uncertainty over the euro zone's debt crisis and disappointing US retail sales boosted demand for safe assets. A day after Greece approved austerity measures, a precondition ...

Euro-zone GDP contracts 0.3% in fourth quarter
MarketWatch
By William L. Watts FRANKFURT (MarketWatch) -- Gross domestic product across the 17-nationeuro zone contracted by 0.3% in the final three months of 2011 compared to the previous quarter, the European Union statistics agency Eurostat said in a ...

A look at the eurozone's economic growth rates in the final two quarters of 2011
Washington Post
In the last three months of 2011, the 17-nation eurozone's economy suffered its first quarterly contraction since the second quarter of 2009. The figures are adjusted for seasonal factors. Here's how the individual countries compare.

Czechs Shield Bonds From Euro Contagion With Debt Aversion
BusinessWeek
By Peter Laca Feb. 15 (Bloomberg) -- Sylvie Pekarova, a 33-year-old pharmaceutical researcher in Prague, has no debt. She doesn't even own a credit card. Consumers like Pekarova have helped the Czech Republic avoid the fate of the euro region, ...

Short-term Euribor rates rise as ECB sugar rush fades
Reuters
FRANKFURT, Feb 15 (Reuters) - Short-term bank-to-bank lending rates in the euro zone rose on Wednesday for the first time since the European Central Bank flooded the banking system with ultra-cheap 3-year loans in December, a sign that the beneficial ...

Secondary Sources: Unemployment Extension, Euro Zone Crisis, Oil and Spending
Wall Street Journal (blog)
–Euro Zone Crisis: Martin Wolf examines the structure of the euro zone. “The eurozone is in a form of limbo: it is neither so deeply integrated that break-up is inconceivable, nor so lightly integrated that break-up is tolerable.

$A rockets on good euro zone news
Sydney Morning Herald
The Australian dollar rose three-quarters of a US cent following some good news that should alleviate the euro zone financial crisis. At 1700 AEDT on Wednesday, the Australian dollar was trading at 107.52 US cents, up from 106.86 cents on Tuesday.

Eurozone has one foot in recession
Newsday
Click here Eurozone has one foot in recession Originally published: February 15, 2012 5:16 AM Updated: February 15, 2012 7:55 AM By The Associated Press (AP) -- The 17-nation eurozone has one foot in recession, according to official figures showing the ...

THE EUROZONE IS SHRINKING SLIGHTLY LESS THAN EXPECTED
By Gus Lubin
Total eurozone GDP showed less than expected contraction at -0.3% q/q versus expectations for -0.4%. This is the first contraction since 2009, but remember, it takes quarters of negative growth in a row to constitute a recession. The Stoxx ...
Money Game

NewsDaily: Euro zone ponders delay of 2nd Greek program
By Luke Baker and Jan Strupczewski
Euro zone finance officials are examining ways of delaying parts or even all of the second bailout program for Greece while still avoiding a disorderly default, several EU sources said on Wednesday.
NewsDaily: Top Headlines

Some Eurozone Finance Ministers Call for Greek Exit From ...
By David Dayen
New statistics out of Greece show that austerity shrunk the economy more than expected last year. GDP in Greece fell 6.
Firedoglake

Eurozone has one foot in recession - Home » Other Sections ...
The 17-nation eurozone has one foot in recession, according to official figures showing the economy contracted 0.3 percent in the final three months of 2011, a clear sign that Europe's debt crisis has spared no country in the single currency ...
philstar.com - Breaking News

Forex - Euro softens after euro zone GDP contracts By Forexpros
By Forexpros
Forex - Euro softens after euro zone GDP contracts.
Forex Pros RSS News Feed | Forex News

Greece Finmin: Many Eurozone Members Do Not Want Us | ForexLive
By Angelika Papamiltiadou ATHENS (MNI) - Greece's Finance Minister Wednesday strongly suggested that other euro area governments are pushing for.
ForexLive

Eurozone Optimism To Boost Stocks - Project Economy News Story ...
NEW YORK (CNNMoney) -- U.S. stocks were poised for a higher open Wednesday, thanks to better-than-expected European economic data and fresh promises from China to keep buying debt issued by eurozone governments. ... Wednesday ...
WDSU.com - Most Popular - National News

EURUSD Collapses On Report Eurozone Considering Delay Of ...
By From zerohedge.com
EURUSD Collapses On Report Eurozone Considering Delay Of Greek Bailout - And scene. EURO ZONE FINANCE OFFICIALS CONSIDERING PROPOSAL TO DELAY ALL OR PART OF GREEK BAILOUT YET STILL AVOID DEFAULT-EU ...
Forex Factory

Fuel Fix » Eurozone contraction smaller than feared
By FT.com - Energy
Share share E-mail. GDP fell by 0.3 per cent in the fourth quarter, as France's robust performance partly offset chronic weakness across much of southern Europe. Read more from Financial Times · Tweet. Share share E-mail. « Previous Post ...
Fuel Fix

Sussman: Either/Or: The Future of the Eurozone | Daily Gazette
By Sam Sussman
Europe has for two years faced down its moment of existential truth, the point at which it must either supplement monetary integration with fiscal coordination, or dissolve the Eurozone. There are solid arguments for either decision, and each ...
Daily Gazette

Eurozone states 'want Greece out' | Stock Market News - Business ...
By Editor - Top News Stories
15 February 2012 Last updated at 12:06 ET Evangelos Venizelos warned.
Rocket News

Euro zone goes into recession, in Italy recession is a fact | Ashi ...
By Ashiinvestments
Euro area economy is again on the brink of recession. This show express Eurostat data for the last quarter of 2011. At the same time it became clear that the third-largest economy in the euro zone.
Ashi Investments - Daily Analysis,...

Instapundit » Blog Archive » EUROPE: North and south split as euro ...
By Glenn Reynolds
February 15, 2012. EUROPE: North and south split as euro zone economy shrinks. Posted by Glenn Reynolds at 8:17 am. Tweet · RSS Feed · Podcast RSS Feed · Email Instapundit. Sic gorgiamus allos subjectatos nunc! Making even the ...
Instapundit

Eurozone GDP shrinks - Yahoo! Finance
The eurozone economy is widely expected to suffer a mild recession this year as the region's debt crisis and planned austerity reforms take their toll.
finance.yahoo.com/.../eurozone-gdp-shrinks-163800945.html

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