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

Thursday, February 9, 2012

Peering into a Eurozone Disaster Crystal Ball

Peering into a Eurozone Disaster Crystal Ball
Fox Business
For example, a total collapse of the eurozone -- something few are forecasting right now -- would trigger a 40% plunge in European equities, a 30% decline in the US and global stock markets and a surge in credit spreads, APT estimates.

Euro zone rescue fund eyes Feb debt sale
Reuters
By William James and Helene Durand | LONDON (Reuters) - The euro zone's EFSF rescue fund is eyeing a return to the bond market at the end of February or early March to enable it to fulfill its next disbursement for Ireland, an EU source said on ...

Eurozone: A Partial Deal on the Greek Debt
Forbes
We seem to have reached a partial deal on the Greek debt situation. Yes, Greece is still bust, yes Greece is going to have to default however “voluntary” that default is wrapped up to be. But we do seem to have had some movement and thus the path to a ...

ECB action lowers euribor rates
Financial Times
By Mary Watkins and David Oakley in London The cost of lending between eurozone banks has fallen to its lowest level in 12 months, underlining the effect of the European Central Bank's €489bn loan facility on funding across the region.

India's Tech Mahindra sees opportunity in euro zone crisis
Reuters
Sees opportunity in the euro zone crisis * Being invited to compete for larger contracts, CEO said (Adds CEO's comments) By Aditi Shah MUMBAI, Feb 8 (Reuters) - Tech Mahindra, India's fifth largest software services company, ...

German exports slump as euro crisis bites
GlobalPost
In fact, German exports topped 1 trillion euros for the first time ever, but the euro crisis impacted results at the end of the year, with demand for German goods dropping at the fastest rate in almost three years. The Federal Statistics Offices ...

Ireland Deputy PM Sees Greece Remaining In Euro Zone
Wall Street Journal
By Ian Talley Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--Greece won't leave the euro zone despite its escalating debt troubles, Ireland's deputy prime minister said Wednesday, criticizing such speculation by other politicians in the European Union.

Eurozone ministers to discuss Greece Thursday
China Daily
LUXEMBOURG - Eurozone finance ministers were scheduled to meet in Brussels Thursday evening to discuss a second bailout program for Greece, Eurogroup President Jean-Claude Juncker said Wednesday. "The President of the Eurogroup, Jean-Claude Juncker, ...

A Star Panel Debates Financial Crisis Prosecutions
New York Times
By PETER LATTMAN That was the provocative title of a panel discussion at New York University School of Law on Wednesday, featuring a trio of bold-faced names in the white-collar world: Lanny Breuer, the head of the Justice Department's criminal ...

Nine eurozone states wish to speed up work on FTT
Europolitics.info
By Tanguy Verhoosel | Wednesday 08 February 2012 Nine EU states, all members of the eurozone(Germany, France, Italy, Spain, Belgium, Austria, Portugal, Finland and Greece), urged the Danish EU Council Presidency, on 7 February, to “accelerate” work on ...

A solution to the eurozone crisis: it's the real economy, stupid
The Guardian
The results are a greater risk of recession, higher interest rates on refinancing loans, and the need for runaway financial aid to the southern eurozone countries. Greece is a dramatic portent of the direction things could take.

The Guardian

Euro zone rescue fund sees "significant" role on Greece
Reuters
LONDON (Reuters) - The euro zone rescue fund anticipates it will play a significant role in steps to set Greece's debt back on a sustainable path and provide more bailout funding, the fund's deputy CEO Christophe Frankel said on Wednesday.

German Impatience With Greece Puts Merkel in a Corner
Wall Street Journal (blog)
An increasing number of lawmakers seems to have given up on Greece and the German public appears to have few worries that an insolvency and Athens's dropout from the euro zone would be a death sentence for the euro. Wichard Woyke, professor of ...

Oil rallies on inventories data, euro zone optimism
Proactive Investors UK
... the New York Mercantile Exchange (NYMEX), rose US$1.45 to US$99.86/barrel in morning trade in New York. March Brent crude added 34 cents to reach US$116.63/barrel on the ICE Exchange this afternoon. Oil rallies on inventories data ,euro zone optimism.

Proactive Investors UK

Willem Buiter: Greek eurozone exit probability rises to 50%
Business Insider
Now he raised the probably of Greek Euro Area Exit (Grexit) to 50% over the next 18 months from 25-30% previously (here our view maintains that Greece will default and exit the eurozone). While acontagion would be what people might have feared, ...

UK house prices 'resilient' despite euro crisis, says Grainger
Telegraph.co.uk
The UK's biggest listed owner of residential property says house prices have been more resilient than expected in the face of the eurozone crisis. By Graham Ruddick FTSE 250 property company Grainger said in a trading update that in the last four ...

Student loans leading to financial crisis
WWLP 22News
(WWLP) - College loan debt could be leading to a financial crisis for many people who borrow money for a higher education. A new report by the National Association for Consumer Bankruptcy Attorneys shows 81-percent of them said that they have seen a ...

Greek Problem Overshadows Other Euro Zone Reports
FXstreet.com
Despite the euro growing strong yesterday amid speculation the solid data that came out of the euro zone yesterday was generally bad. This just goes to outline the optimism investors have about the Geek deal and how much help the deal will give to the ...

Solution to Euro Crisis Lies in Mona Lisa's Smile: A.A. Gill
Bloomberg
But the genius and peerless beauty of Leonardo reminded us of something else we'd forgotten in the slow convulsions of the euro crisis and all its miserable consequences. As a continent, what we do well, we do better than anyone anywhere.

Bloomberg

Big US Firms Sidestep Euro-Crisis Damage
Wall Street Journal
By SCOTT THURM Big US companies have largely skirted major damage from the European financial crisis, but they are likely to face more trouble in the region, which is a key market for many of them. Revenue from Europe rose 11.4% in the fourth quarter, ...

Robo-Signing Forgery Charge Hits First Top Executive In Financial Crisis
Huffington Post
For the first time since the start of the financial crisis, a senior executive has been indicted on criminal charges and faces jail. The forgery charges against a mortgage processing executive come as the nation's largest banks attempt to close the ...

GSK emptying bank accounts to limit euro zone exposure
Irish Times
GLAXOSMITHKLINE is emptying out tens of millions of euro each day from its bank accounts in Europe's more fragile countries to minimise the risk of exposure to a regional banking or financial crisis. GSK chief executive Sir Andrew Witty said that since ...

Greece dragging Eurozone down
gulfnews.com
For the past 18 months, the Eurozone has been crippled by some of its member states being in need of bailouts and financial restructuring. The weak man of Europe is Greece. Continued instability in the Eurozone is dragging the continent into recession ...

Eurozone fears for BHP Billiton as profits drop
CITY A.M.
BHP Billiton last night warned the Eurozone debt crisis could hamper its growth as it reported its first half-year profit drop in two years. The world's largest miner also said longer-term demand from China would slow as it posted a seven per cent fall ...

France signals 9 euro zone states ready to trigger transactions tax
Straits Times
French Finance Minister Francois Baroin signalled on Tuesday that nine euro zonegovernments are ready to press ahead with the introduction of a Paris-inspired financial transactions tax. -- PHOTO: AP PARIS (AFP) - French Finance Minister Francois ...

Straits Times

Comment: The competitiveness challenge for the eurozone
International Financing Review
For eurozone peripheral countries this is especially difficult when they are being asked to deliver increasing fiscal austerity and reforms that sap the purchasing power of firms/households and at the same time suffer a competitive disadvantage.

International Financing Review

France: Debt To Increase Because Of Eurozone Situation
Eurasia Review
But Brussels has turned a blind eye to these “tacit” violations because of the 2008-2009 financial crisis and the growing debt problems and recession in certain EU nations. The French Cabinet met Wednesday to discuss contribution levels to the ESM and ...

Greeks to brief eurozone on tentative debt deal
Albany Times Union
Heads of the three parties backing the interim government will confer with Prime Minister Lucas Papademos on new income cuts and job losses, which Greece's eurozone partners and the International Monetary Fund are demanding to keep the country's vital ...

SNB Interim Chief Warns Of Eurozone Risk
Eurasia Review
By Simon Bradley An escalation of the eurozone debt crisis is the biggest threat to the economy as it could prompt deflation, the Swiss National Bank (SNB)'s acting chairman has warned. In a speech to the Swiss-American Chamber of Commerce, ...

Exports top €1 trillion despite euro crisis - The Local
German exports topped €1 trillion for the first time in 2011, but fell at year-end as the eurozone debt crisis hit demand for goods made in Germany, official data showed on Wednesday.
The Local - Germany's news in English

Nervous GlaxoSmithKline Pulls Cash Out of Eurozone
GlaxoSmithKline has been pulling cash out of some eurozone countries in case the debt crisis takes a turn for the worse. Speaking at the drugmaker's.
BioSpace.com Featured News and Stories

cryptogon.com » GlaxoSmithKline Clears Cash From Eurozone On ...
By Kevin
GlaxoSmithKline is clearing cash out of eurozone countries on a daily basis to protect itself against a potential banking and liquidity crisis in the region. Sir Andrew Witty, chief executive of Britain's biggest drug maker, said that early last year ...
cryptogon.com

WHY I DON'T BELIEVE THE EUROZONE CRISIS IS OVER ...
By Cullen Roche
I owe readers a mea culpa on Europe as of late. The LTRO far surpassed my expectations of helping stabilize the region. But my position hasn't changed much.
PRAGMATIC CAPITALISM

Head of Eurogroup: eurozone finance ministers to meet Thursday to ...
Head of Eurogroup: eurozone finance ministers to meet Thursday to discuss Greece bailout - @AP.
Breaking news

As Eurozone Equities Push Higher, Bullish Positions Build on ...
By Barbara Zigah
(eToro Blog) European equity markets are all higher, led by the Eurozone's banking sector, as investors' optimism of a favorable resolution to the Greek.
eToro Blog

Greece should default within the eurozone: On CNBC « Yanis ...
By yanisv
The debt-deflationary downward spiral will be given another impetus. Here I tell CNBC that Sisyphus' optimal strategy is to stop pushing the rock up the hill. And that the assumption that if Greece defaults it must exit the eurozone is a motivated ...
Yanis Varoufakis

GSK emptying bank accounts to limit euro zone exposure - The Irish ...
GLAXOSMITHKLINE is emptying out tens of millions of euro each day from its bank accounts in Europe's more fragile countries to minimise the risk of exposure to a regional banking or financial crisis. GSK chief executive Sir Andrew Witty said ...
Jack's posterous

SINK OF SWIM — WILL THE EURO ZONE CRUMBLE? | PROSPECT
By admin
European countries are experiencing yet another wave of recession and public insolvency in what has been dubbed the Euro Zone crisis. This crisis has ballooned public debts, vastly increased unemployment and has forced European ...
PROSPECT

Euro-Zone News and Analysis | The Albion Alliance presents
By admin
Euro-Zone News and AnalysisPress Summary: ECB considers taking part in Greek restructuring; Greece misses another deadline as Greek unity government fails to find consensushttp://www.openeurope.org.uk/Article/Page/en/LIVE?id=8460 ...
The Albion Alliance presents

Eurozone finance ministers meet on Greece Thursday – forex.ch
By Forex.ch
A top eurozone official says that the currency bloc's 17 finance ministers will meet in Brussels Thursday evening to discuss a second massive bailout for Greece.Jean-Claude Juncker, who heads the finance … Read more here: Eurozone ...
forex.ch

The Eurozone's financial transaction tax is a waste of time
By Alice Cook
The French Finance Minister - Francois Baroin - announced that Austria, Belgium, Finland, France, Germany, Greece, Italy, Portugal and Spain have all agreed to introduce a financial transaction tax. It is an impressive list, but there are at least ...
UK Bubble UK Economy

Eurozone crisis: Brussels gets tough as Greek resistance grows ...
The likelihood is that Brussels will sue for peace and stitch a compromise together, probably tomorrow, before a eurozone ministers meeting on Wednesday.
www.guardian.co.uk/business/economics-blog/.../debt-crisis-e...

Francis Fukuyama on the Financial Crisis | FiveBooks | The Browser
You've chosen the financial crisis as your topic, but I can't help but start by asking how it fits in with your famous essay, “The End of History”? Given the crisis and ...
thebrowser.com/interviews/francis-fukuyama-on-financial-crisis

The Financial Crisis Of 2008 Was Just A Warm Up Act For ... - Infowars
During the financial crisis of 2008 there was a little “hiccup”, but the truth is that not much deleveraging really took place at all. And since the recession “ended”, ...
www.infowars.com/the-financial-crisis-of-2008-was-just-a-war...

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