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

Wednesday, February 1, 2012

Eurozone unemployment ends 2011 at 10.4 percent, the highest since euro was launched in 1999

Eurozone unemployment ends 2011 at 10.4 percent, the highest since euro was ...
Washington Post
There are huge disparities across the eurozone, however, with those countries at the front line of Europe's current financial turmoil, such as Greece and Spain, suffering record rates of unemployment that are stoking concerns about the social fabric of ...

Cameron takes flak for eurozone U-turn
Financial Times
By George Parker and Elizabeth Rigby David Cameron was accused on Tuesday of deploying a worthless veto in Brussels after the prime minister performed an about-turn and agreed that EU institutions should after all be given a role in enforcing eurozone ...

European shares rise on euro zone hopes
Reuters
FTSEurofirst 300 up 0.6 pct * Gains capped by weak US data * Index gains 3.6 pct in January By Brian Gorman LONDON, Jan 31 (Reuters) - European share prices rose on Tuesday on renewed hopes for a Greek debt deal and after euro zone leaders agreed to a ...

Views under the Palm - johnmpoole.com: Home prices continue to drop - turnaround in 2015?: "Forget the election year hype, the truth is in the data, and it shows U.S. housing is still in decline and no real turnaround is projected until 2015. "

Euro-Zone Data Point to Recession
Wall Street Journal
BY ILONA BILLINGTON LONDON—New economic data brought more signs that theeuro zone could be verging on a mild recession, with December consumer spending in the currency area's two largest economies dropping significantly and unemployment rising in the ...

Wall Street Journal

Oil falls on euro zone worry, eyeing Iran
Reuters
But confidence in the euro zone's economy strengthened in January for the first time since early 2011, according to the European Commission's economic sentiment indicator, more supportive news for oil. Also supportive, Italy's longer-term borrowing ...

Financial crisis claims British knight's title
Financial Post
It has toppled banks, politicians and wrecked untold havoc on the world's economies, but now the financial crisis has cost one British banker his knighthood. Britain announced Tuesday that it was cancelling Sir Fred Goodwin's knighthood almost three...

Financial Post

Unappreciated, euro zone ploughs path of reform
Reuters
But investors might not be giving enough credit to governments that, away from the summit spotlight, are at last forcing through long-shunned reforms to increase economic growth and thus tackle one of the root causes of the euro zone crisis.

Record unemployment in euro zone
TVNZ
The euro zone creaked under the weight of record unemployment at the end of 2011 while jobless rates in Germany fell to historic lows, putting the onus firmly on Europe's top economy to take the lead in steering the struggling region back to recovery.

Portugal as Greece Pressures ECB to Halt Contagion Prompting Nascent Bulls
Bloomberg
Play Video Play Video Chart: Portugal-Spain Standard Deviation Enlarge image Portugal as Greece Prods ECB to Halt Contagion Prompts Bulls Portugal as Greece Prods ECB to Halt Contagion Prompts Bulls Mario Proenca/Bloomberg A police officer stands ...

Bloomberg

Fed Survey: Euro Crisis Has Hurt US Loans
Wall Street Journal
"The ongoing crisis in the euro zone is beginning to have a more marked impact on domestic credit," said Paul Ashworth, chief US economist at Capital Economics. Of the 56 domestic banks surveyed—which received the questions on or after Dec.

Wall Street Journal

Euro zone banks may double emergency loans from ECB: report
Reuters
(Reuters) - Some of the euro zone's biggest banks have told the Financial Times that they are preparing to tap the European Central Bank's emergency funding scheme for up to twice as much as the ECB supplied in its December auction.

Tough new eurozone treaty proposes to cap deficits
USA TODAY
"Twenty-five is quite an achievement because the eurozone in itself is only 17," he said, referring to the number of countries that use the euro. German Chancellor Angela Merkel said the treaty, "Is an important step to the stable union," and added ...

USA TODAY

Eurozone jobless continues to rise
euronews
http://www.euronews.net/ Eurozone unemployment has hit its highest since before the euro was introduced at 16.5 million. The grim figures also reveal a widening gap between the weakest and strongest economies. Austerity measures and spending cuts ...

Eurozone should stay intact says Lamy
euronews
http://www.euronews.net/ Some blame part of the Eurozone's woes on globalization -- the interconnectedness of world economies held responsible for the downturn that's hit so many nations in turn. Pascal Lamy head of the World Trade Organisation joined ...

Euro crisis to top agenda of Merkel's visit to China
Expatica Germany
The eurozone debt crisis, Iran and Syria will be among the topics up for discussion when German Chancellor Angela Merkel makes a two-day trip to China this week, government sources said Tuesday. In her fifth visit to the world's number two economy, ...

Eurozone crisis dominates debates at Davos
euronews
Now it is the anguished debate on how to tackle the eurozone debt crisis which is resonating through the ski resort. It is the top of the political and business leaders agenda at this World Economic Forum in Davos. Solutions, growth, belief and the ...

Eurozone crunch time
euronews
http://www.euronews.net/ Europe's weaker economies are again having to offer much higher rates of interest to get investors to buy their government bonds. This comes as Greece debt talks turned into a marathon and Germany suggested Athens may have to ...

Eurozone leaders reach debt agreement
CityNews
French Foreign Minister Alain Juppe on Tuesday welcomed the agreement struck at a European Union summit to rein in euro zone member countries' debts and deficits. The agreement also calls for tough action to be taken to stop violence in Syria, ...

Record Eurozone Unemployment Pits North Against South
Forexrazor
High-Risk Warning Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, ...

Eurozone unemployment ends 2011 at record high
Newsday
Click here Eurozone unemployment ends 2011 at record high Originally published: January 31, 2012 5:07 AM Updated: January 31, 2012 2:54 PM By The Associated Press PAN PYLAS (Associated Press) (AP) -- Unemployment across the 17 countries that use the ...

Newsday

Business shrugs off eurozone economic woes
ABC Online
Chief economist Alan Oster says despite the slowdown, the survey indicates a belief among businesses that the economy should be relatively sheltered from the eurozone's sovereign debt problems. "I think that message is getting through," Mr Oster said.

Hedge funds: Did they trigger financial crisis?
Christian Science Monitor
Hedge funds didn't cause the financial crisis. But new research suggests that when a few hedge funds figure out how to tell good securities from bad ones, they can trigger a systemic collapse. By John Carney, CNBC.com Senior Editor / January 31, ...

Christian Science Monitor

Send In the IMF
Wall Street Journal
The Fund should be given the mandate and resources to sort out the euro zone. By ANDREW TYRIE The euro-zone crisis has the capacity to engulf us all. The Bank of England has apocalyptically described the danger we face as a "very significant ...

Eurozone jobless continues to rise
euronews
But German exports could suffer from the expected mild recession this year in theeurozone. The German Labour Minister, Ursula von der Leyen, said the latest figures reflect the effect of the country's economy picking up last year.

euronews

Dutch Socialists gain from eurozone woes
Financial Times
With their uncompromising stance against government budget cuts and eurozone bail-outs, the Socialists have become this year's big story in Dutch politics. Recent polls show them doubling their share of the vote to 20 per cent, far ahead of Labour (12 ...

MONEY MARKETS-Interbank pipelines still frozen in euro zone
Reuters
Interbank lending volumes steady in January, despite excess cash * Any improvement is expected to be slow, policy dependant * Greece, Portugal hurting confidence among banks By Marius Zaharia LONDON, Jan 31 (Reuters) - Euro zone interbank lending ...

Australians Shift Assets Over Eurozone Fears
aiCIO
Australia's Future Fund has moved more assets in to cash as fears of fallout from the Eurozonespook investment decisions. (January 31, 2012) -- The largest Australian superannuation fund has shifted its portfolio away from risk assets, ...

Tokyo stocks end mixed on US dollar's fall vs. yen, eurozone concerns
Xinhua
31 (Xinhua) -- Tokyo stocks ended mixed Tuesday, with the benchmark Nikkei index edging up 0.11 percent reflecting a circumspect market mood as investors received mixed messages from the debt-plagued eurozone, amid some disappointing earnings results ...

Currencies Rally on Eurozone Agreement
Daily Reckoning - American Edition
But the eurozone leaders did agree to accelerate the setup of a full-time 500-billion euro (EUR) rescue fund, and adopt the German-inspired deficit control treaty… This helped the euro rise… Then there was this ditty, a simple twist of words that ...

EU 25 reaches compromise on eurozone deal
thenews.pl
Poland has won the right to attend some eurozone meetings, as EU nations bar Czech Republic and UK agree to sign up to the new EU anti-crisis fiscal pact. “[The agreement] does not satisfy us 100 percent but we have decided to sign the pact,” Prime ...

Eurozone Problems - NYTimes.com
By By PAUL KRUGMAN
Eurozone Problems. I'm giving a talk in Paris tomorrow. Here are some slides; they won't come as a shock to regular readers, but it may be useful to see them all in one place. First, I make the case that the overall economic crisis is driven by ...
Paul Krugman

Eurozone Unemployment Ends 2011 With Record High 10.4 Percent
By The Huffington Post News Editors
LONDON — Unemployment across the 17 countries that use the euro ended 2011 at a record high of one person in every 10, official figures showed Tuesday, a day after EU leaders acknowledged they would have to boost economic growth ...
The Huffington Post | Full News Feed

Eurozone Inks Fiscal Pact, But Growth Problems Remain | FDL ...
By David Dayen
Yesterday, 25 of the 27 Eurozone countries signed a fiscal consolidation pact that almost immediately drew scorn from observers as inadequate and largely.
Firedoglake

Why were women's warnings about the financial crisis ignored?
By Lori
Yes, these details are infuriating enough. But in a new op-ed commentary, Keith Chrostowsky of the Kansas City Star points out yet another infuriating component of the financial crisis: namely, that among that small minority who did protest the ...
Feministing

Eurozone unemployment hits record 10.4 percent | The Raw Story
By Agence France-Presse
Eurozone unemployment hit a record 10.4 percent in November and December, provisional official figures showed on Tuesday. The Eurostat data agency had previously estimated anunemployment rate of 10.3 percent in November but it was ...
The Raw Story

The Eurozone Crisis and Europe's Persistent 'No-Demos Problem ...
By eutopialaw
As usual, things are moving so quickly in the Eurozone crisis that pressing controversies one day seemingly become old news the next. In the lead up to this week's EU summit, for example, Germany caused a stir by calling for the appointment ...
eutopialaw

French Politics: The Euro Crisis Drags On
By Arthur Goldhammer
President Sarkozy was all smiles after yesterday's EU summit in Brussels, though it's hard to say why. Angela Merkel's victory was complete, and virtually nothing remained of France's at best inaudible peep concerning the need for measures ...
French Politics

Fuel Fix » Eurozone jobless rate at euro-era high
By FT.com - Energy
Posted on January 31, 2012 at 5:18 am by FT.com - Energy in. 2. |. Tweet. Share share E-mail. Rising unemployment in the single currency region highlights fragile nature of bloc's economic recovery. 2. |. Tweet. Share share E-mail. « Previous ...
Fuel Fix

Eurozone debt treaty gets support - Spokesman.com - Jan. 31, 2012
BRUSSELS – All European Union countries except Britain and the Czech Republic agreed Monday to sign a new treaty designed to stop overspending in the eurozone and put an end to the bloc's crippling debt crisis, while EU leaders also ...
Spokesman.com: Business stories

Beyond the Transition: Eurozone Problems: Paul Krugman
By Gavin Rae
He presents a number of clear charts that show, for example how the current economic difficulties in the Eurozone, and in particular the GIPS countries in Southern Europe, were not caused by a rise in public debt. Rather the rise in public debt ...
Beyond the Transition

A look at eurozone unemployment rates | The Associated Press ...
By The Associated Press
Eurostat, the EU's statistics office, estimates that unemployment across the 17-nation eurozonerose by the end of 2011 to 10.4 percent, a joint record high since the euro launched in 1999. Here's how the countries compare: Spain 22.9 percent ...
Examiner Nation RSS

XE.com - Moody's says eurozone crisis could impact refinancing
Twenty-five companies rated B3 negative or lower hold 12% of the debt of high-yield non-financials maturing by 2016, or almost $80bn, and they could have difficulty refinancing it because of the knock-on effects of the sovereign debt crisis in...
XE Forex News

Jim Rogers Blog: No Country Will Exit The Euro Zone This Year
By Admin
CNBC video interview: No country will exit the euro zone this year but a solution to the debt crisis remains elusive, Jim Rogers, CEO and Chairman at Rogers Holdings, told CNBC Jim Rogers is an author, financial commentator and successful ...
Jim Rogers Blog

Record Unemployment in the Eurozone
By Steven L. Taylor
Via the BBC: Eurozone unemployment hits new record The jobless rate in the 17 countries that use the single currency was 10.4% in December, unchanged.
Outside the Beltway

How Will the Euro Crisis End? - Clive Crook - Business - The Atlantic
The Peterson Institute recently staged a debate about the European debt crisis between Simon…
www.theatlantic.com/business/archive/2012/01/.../252090/

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