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

Saturday, February 25, 2012

No G20 deal on IMF cash this weekend, pressure on Europe to do more

No G20 deal on IMF cash this weekend, pressure on Europe
Reuters
By Luis Rojas and Alonso Soto | MEXICO CITY (Reuters) - The world's leading economic powers will not reach a deal this weekend to provide the IMF with more money to help ease the euro zone debt crisis because European leaders first need to do more ...

Eurozone Economy to Contract 0.3 Percent in 2012
HispanicBusiness.com
The economic output of the 17-nation eurozone is expected to contract 0.3 percent in 2012, instead of the previous estimated growth of 0.5 percent, the European Commission said in a report Thursday. If the EU's forecast materializes, this would be ...

HispanicBusiness.com

Euro Crisis Week Ahead as ECB Prepares Three-Year Cash Operation
San Francisco Chronicle
Feb. 24 (Bloomberg) -- Following is a timeline of events scheduled for the next weeks after European governments approved a second bailout package for Greece and won concessions from private investors in their efforts to resolve the debt crisis.

G-20 set to press Europe over crisis firewall
MarketWatch
By Polya Lesova, MarketWatch NEW YORK (MarketWatch) — European officials heading to Mexico this weekend will face strong pressure from other Group of 20 members to boost theeuro zone's firewall against the sovereign debt crisis that's plaguing the ...

What happens to the eurozone after the second Greek bailout?
CNN (blog)
This week's Wikistrat drill looks at possible future pathways for the eurozone. Greece: Should I pay or should I go now? The second bailout imagines Greece reducing its debt burden down to about 120 percent of its GDP from its current position north of ...

ECB Greek bond swap could raise euro zone yields -S&P
Reuters
FRANKFURT (Reuters) - The European Central Bank may have made it harder for debt-strained euro zone countries to raise funding by exempting itself from taking losses on its Greek bond holdings, Standard & Poor's said on Friday.

EU expects eurozone to suffer mild recession
NorthJersey.com
AP AP Olli Rehn, a top European Commission economic official, is predicting that the 17-nation eurozone will have a modest recession this year, despite recent signs of stabilization. While the contraction is expected to be relatively severe in Greece, ...

NorthJersey.com

Eurozone to slip back into recession in 2012, EU officials predict
Austin American-Statesman
By Stephen Castle BRUSSELS — The European Union lowered its growth forecast Thursday for this year and warned that the eurozone would undergo a "mild recession," casting further gloom on the continent's economic prospects. The new figures are likely ...

EU expects eurozone to suffer recession
Southeast Missourian
By PAN PYLAS and GABRIELE STEINHAUSER ~ AP BRUSSELS -- Half the economies in the 17-nation eurozone are forecast to shrink this year, raising concerns that government austerity programs introduced to combat unsustainable debt levels are holding back ...

Fears for crude overtake euro crisis woes
Financial Times
By Javier Blas, Commodities Editor “Until recently, my mornings started with a check on the Italian bond yield,” says Wall Street strategist Ed Yardeni. Not anymore, though. Now he checks the price of Brent crude first. In a week when oil prices jumped ...

European Commission: Eurozone economy will shrink slightly this year
Helsingin Sanomat
According to the European Commission, the gross domestic product in the eurozone is expected to contract by 0.3 per cent this year compared with 2011. The estimates, however, are somewhat uncertain owing to the fact that there is a lot of variation ...

Europe Fiscal Pact to Tame Euro Crisis, Slovak Prime Minister Says
Wall Street Journal (blog)
By Leos Rousek BRATISLAVA — Europe's latest agreement on the Greek bailout and fiscal rules are sufficient safeguards to prevent the euro-zone debt crisis from escalating further and engulfing other governments, Slovak Prime Minister Iveta Radicova ...

Euro zone crisis: a pause for reflection
GlobalPost (blog)
The euro zone crisis at half-time, what's going to happen next? (Sean Gallup/AFP/Getty Images) It's half-time in the euro zone crisis. So gather round and take a knee, and let's figure out what we've learned from the first half. 1.

Euro Zone Is Reason to Buy, Not Sell, Sterling
Wall Street Journal (blog)
By Nicholas Hastings The euro zone may still be casting a nasty dark shadow over sterling, but there is still little reason to really sell the UK currency just now. On the contrary, the recent decline in sterling, triggered by concern that the Bank of ...

Trouble in Euro Zone Paradise?
Wall Street Pit
This is what Greek economist Yanis Varoufakis has called “cauterize and print”: Germany's belated epiphany is that, without a major redesign of the euro architecture, a number (>1) ofeurozone member states are irretrievably insolvent.

The Euro Zone's Austerity Dilemma
Wall Street Journal
The UK—outside the euro zone but also pursuing austerity—has promised three-quarters of its budget reduction will come from lower spending. Iain Begg, a professor at the London School of Economics, says he thinks the balance of spending cuts to tax ...

Wall Street Journal

ECB chief defends eurozone austerity
AFP
FRANKFURT — European Central Bank (ECB) president Mario Draghi defended eurozone austerity on Friday in an interview and urged countries to press on with reforms despite a gloomy economic forecast. "There is no feasible trade-off" between economic ...

AFP

Eurozone to contract by 0.3 per cent
The Independent
The economy of the eurozone will contract in 2012, according to the latest forecast from the European Commission. The executive body of the European Union says that the 17 members of the currency bloc will shrink by 0.3 per cent in 2012, ...

Eurozone set for mild recession, warns EC
MyFinances.co.uk
Workers in Greece began a 48 hour strike today following demands by Eurozone ministers for the country to make more cuts in exchange for a financial bailout. The Eurozone is heading for a mild recession in 2012, latest predictions from the European ...

Greece leaving the eurozone is 'not a credible option'
Montreal Gazette
The main issue facing Greece right now is whether the country can stabilize its economy, resume growth and remain within the eurozone, given how a disorderly default might threaten the survival of the zone itself. Against this backdrop, the Greek ...

Eurozone problems top G20 agenda
euronews
Eurozone countries want their G20 partners to commit more money to the International Monetary Fund to help victims of the crisis. But a number of the G20 governments feel Europe must increase funding for its own financial firewalls before they back any ...

euronews

EU's Barroso In Germany: No Alternative To Supporting Bailout Programs
Wall Street Journal
BRUSSELS (Dow Jones)--Speculation about Greece falling into a disorderly default is undermining confidence in the euro zone and there is no alternative but to support bailout packages for the country, European Commission President Jose Manuel Barroso ...

The Euro Crisis and the Decline of Europe
AINA (press release)
Greece, a member state of the EU and a member of the euro-zone, is now a candidate for ejection. Decades of cradle-to-grave socialism, a short work week and long vacation periods for European Union workers have taken a toll on the treasuries of the ...

Eurozone headed for 'mild recession' in 2012, EU says
Salt Lake Tribune
The eurozone economy as a whole will probably shrink 0.3 percent in 2012, the commission said, the region's second economic contraction since 2008, despite years of attempts to solidify the eurozone's economic standing. The eurozone's largest economies ...

ECB's Draghi Says Euro Zone Recovering Slowly
CNBC.com
The euro zone economy is on the mend after a very weak end to 2011 and there have been more positive signs over the last two weeks, European Central Bank President Mario Draghi was quoted on Thursday as saying. Asked if the positive signs had increased ...

CNBC.com

EU's Juncker: Hopeful Greece Will Meet Conditions For Bailout
Wall Street Journal
By Andrea Thomas Of DOW JONES NEWSWIRES STRALSUND, Germany (Dow Jones)--Jean-Claude Juncker, head of the group of euro-zone finance ministers, said Friday he is hopeful Greece will meet the conditions required for it to receive its second bailout ...

Eurozone slips into double-dip recession
Sky News Australia
Eurozone slips into double-dip recession Updated: 12:04, Friday February 24, 2012 Theeurozone's double-dip recession is official. Data released on Thursday by the European Union shows the 17-nation currency bloc's economy slumping into recession for ...

Euro zone in recession, commission declares
Irish Times
THE EUROPEAN Commission yesterday said the euro zone had entered its second recession in three years. Economics commissioner Olli Rehn insisted the recession was “mild” and that the European economy was showing signs of stabilising, ...

Irish Times

Business Bites: Eurozone to dominate G20 meeting
BBC News
The question of eurozone funding is set to dominate discussions between G20 finance ministers and central bankers as they meet in Mexico City. Eurozoneofficials want G20 partners such as China and Japan to put more money into the European stability ...

BBC News

Recession Looms in Euro Zone | Wall St. Cheat Sheet
By info@wallstcheatsheet.com (Damien Hoffman)
The euro zone is headed for a mild recession this year, the region's second economic contraction since 2008, the European Commission said Thursday.
Wall St. Cheat Sheet

The Euro Crisis and the Decline of Europe | FrontPage Magazine
By Joseph Puder
The nations that made up the EU gave up a portion of their sovereignty to join a competitive and effective market, and in the process 17 euro-zone European nations (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, ...
FrontPage Magazine

New Economic Perspectives: Trouble in Euro Zone Paradise?
By Mitch Green
Germany's belated epiphany is that, without a major redesign of the euro architecture, a number (>1) of eurozone member states are irretrievably insolvent. As for the two strategic choices, the first is Berlin's conclusion that German politics ...
New Economic Perspectives

Expert: Look outside the eurozone — RT
By RT
After the global crisis of 2008 and disturbances of 2011, investors around the world are puzzling over the best places to put their money. Alex Friedman, wealth manager at UBS, disclosed to RT a few home truths on investment opportunities in ...
News RSS : Today

Greece (and the PIIGS) Are a MAJOR Problem... Even for the ...
By Phoenix Capital Research
Graham's note: this is an excerpt of a client letter I sent out to clients. Deutsche Bank trades on US stock exchanges and so has to publish SEC filings on its balance sheet risk. Well, according to Deutsche Bank's own filings, it had 1.6 billion ...
ZeroHedge

Forex - U.S. dollar lower on strong euro zone numbers, ECB support ...
By Forexpros
Forex - U.S. dollar lower on strong euro zone numbers, ECB support.
Forex Pros RSS News Feed | Forex News

Euro Crisis Gives Cause for Worry: Indonesian Bankers | The ...
Indonesian bankers have expressed concern over the potential impact of the euro zone crisis on the nation's economy and on its banks.
Jakarta Globe RSS: Business

Europe says goodbye to solidarity | Presseurop (English)
Behind the name-calling that marks out Greece's relationship with its eurozone partners lies a complete breakdown of trust. Many Europeans – and I am not talking only about Germans – do not believe that politicians in Athens will keep their ...
Presseurop

Grahnlaw: Transparency during the eurozone crises
By Grahnlaw
During these last two years, no questions have been more central to the economic wellbeing of European citizens than the ongoing multiple crises in the eurozone, the efforts to contain the effects and to return to a path towards economic ...
Grahnlaw

Raising Flags Over The Eurozone | iStockAnalyst.com
Aside from the obvious—the eurozone is experiencing some economic troubles—the estimate also sheds light on an underappreciated factor we frequently point out in this space. Europe continues to operate as a relatively multi-speed ...
Home: iStockAnalyst.com Feed

Coeure: ECB's Liquidity Helping to Stabilize Eurozone Economy ...
PARIS (MNI) - The European Central Bank's efforts to pump liquidity into the banking system have helped to forestall fire sales of bank assets and are.
ForexLive

The American Spectator : Background to the Financial Crisis
A key error of postwar finance, still uncorrected, was the persistent encouragement of debt.
spectator.org/archives/2012/.../background-to-the-financial-cr

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