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

Thursday, March 1, 2012

Eurozone: Big banks on dope

Eurozone: Big banks on dope
BBC News
Investors and creditors worried that certain eurozone countries with big debts would struggle to repay what they owe. This fear focussed on Greece first, and is still most acute in its case, and spread to Ireland, Portugal, Spain and Italy. 

Euro Zone Banks Lap Up €530 Bln of 3-Year ECB Loans
International Business Times
The 3-year loans are the ECB's latest attempt to fight the euro zone crisis. ECB President Mario Draghi, whose native Italy was at the epicenter of the crisis when the bank announced the measure late last year, said after the first of the operations, ...

International Business Times

ECB pumps cheap cash into eurozone banks
Channel News Asia
That beats the 489.19 billion euros borrowed by 523 banks in a first operation in December but analysts said the move would merely buy time and not be enough on its own to solve the eurozone'scrippling debt crisis. The ECB launched the ultra-long ...

Eurozone banks rally following LTRO
Financial Times
Analysts had predicted that eurozone banks would borrow roughly €500bn from the ECB, but the number of bidders was larger than expected. “The total number of bidders suggests that a lot small banks participated, which may be seen as encouraging by the ...

Eurozone crisis live: ECB to launch massive cash injection
The Guardian
Ultimately, the ECB is supported by the members of the eurozone, who have put up capital to back it. 8.48am:Is anyone prepared to stick their necks out and predict how large today's LTRO will be? City predictions range from €300bn to €1trn.

The Guardian

Euro-Zone Inflation Fell in January
Wall Street Journal
The annual rate of inflation in the euro zone was lower than first estimated in January, although still well above the European Central Bank's target. The European Union's official statistics agency Eurostat Wednesday said consumer prices in the 17 ...

Euro-Zone Banks Flock to LTRO
Wall Street Journal (blog)
“The ECB's second three-year loan operation will provide further vital support for the euro-zone'sbeleaguered banking sector. But hopes that the funds will also solve the fiscal crisis and breathe life into the ailing euro-zone economy are likely to ...

Eurozone crisis: live blog
Financial Times (blog)
Welcome back to our continuing coverage of the eurozone crisis. By Tom Burgis and Esther Bintliff on the news desk in London with contributions from our correspondents around the world. All times are GMT. Another big day for “Super” Mario Draghi, ...

TEXT-S&P reports on impact of ECB funding on Eurozone banks
We expect significant sectoral restructuring in the peripheral eurozone countries, but note generally greater stability in parts of northern Europe such as the Nordic region. There have been a number of rating actions on the top 50 European banks over ...

Eurozone fiscal pact tears up rules, say Conservative MPs
BBC News
Conservative MPs have accused EU leaders of having "torn up the rulebook" in efforts to create a treaty to tighten eurozone budget rules. A succession of backbenchers questioned whether the fiscal treaty, agreed by 25 of the 27 EU states, was legal.

BBC News

Irish vote, German court add euro zone uncertainty
By Padraic Halpin and Eva Kuehnen | DUBLIN/KARLSRUHE, Germany (Reuters) - A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone's debt crisis, just when a flood of central bank ...

Euro zone is not considering Greek exit - Juncker
BRUSSELS (Reuters) - Euro zone governments are not discussing debt-stricken Greece's departure from the currency bloc, Jean-Claude Juncker, the chairman of the euro zone finance ministers, said on Wednesday. "We've got a 17-member euro zone.

Eurozone Jan. Inflation Revised Down To 5-Month Low
(RTTNews.com) - Eurozone's annual inflation for January was revised down, fueling expectations that the European Central Bank may slash interest rates further in the coming months. Final results released by Eurostat on Wednesday showed that inflation ...

Germany's Merkel Urges Euro Zone To Become More Competitive
Wall Street Journal
BERLIN (Dow Jones)--Angela Merkel Wednesday urged euro-zone members to become more competitive and take the strongest countries' economies as a role model, highlighting Berlin's tough reform stance ahead of a European Union summit later this week.

Eurozone inflation unexpectedly eased to 2.6 percent in January
Washington Post
Eurostat, the EU's statistics office, said eurozone inflation dropped to 2.6 percent in the year to January from 2.7 percent the month. In its previous estimate for the month, Eurostat said there had been no change from December's rate.

Brussels Turns More Upbeat
Wall Street Journal (blog)
The European Commission last week predicted the euro zone would return to recession this quarter. It said the region's economy will contract 0.3% this year* and sharply revised down growth forecasts for Greece, Italy and Spain.

Italy's Monti Signals Euro Crisis Abating
“If the approach to firewalls is constructive enough in Europe, I believe we will all be in a better position to face any further contagion effect or any resurgence of the crisis.” Germany's Stance Asked about Germany's issues with increasing the ...


Next Big Financial Crisis Will Be Made in China
The next big global financial crisis will emanate from China. That is not a firm prediction. But few countries have avoided crises after financial liberalization and global integration. Think of the US in the 1930s, Japan and Sweden in the early 1990s, ...


China calls for steps on euro zone crisis
China Daily
BEIJING - China on Monday called for steps to address the euro zone debt crisis, high oil prices and volatile capital flows, adding that Group of 20 nations should focus on ensuring a global economic recovery and financial market stability.

ECB's Nowotny says euro zone on path to recovery: report
LONDON (Reuters) - The euro zone may soon witness the "green shoots" of economic revival, Ewald Nowotny, a member of the European Central Bank's governing council, said in a newspaper interview published on Wednesday. Nowotny told the Times there was a ...

Euro zone January inflation slips, ECB may delay action
Reuters UK
By Jan Strupczewski and Robin Emmott | BRUSSELS (Reuters) - Euro zone inflation was lower than estimated in January, data showed on Wednesday, supporting market expectations that price growth will continue slowing as the economy contracts and possibly ...

Eurozone annual inflation fell to 2.6% in January
FinFacts Ireland
By Finfacts Team Eurozone annual inflation was 2.6% in January 2012, down from 2.7% in December 2011. A year earlier the rate was 2.3%. Monthly inflation was -0.8% in January 2012, according to Eurostat, the EU's statistics office.

FinFacts Ireland

ECB's Nowotny says euro zone on path to recovery-report
LONDON Feb 29 (Reuters) - The euro zone may soon witness the "green shoots" of economic revival, Ewald Nowotny, a member of the European Central Bank's governing council, said in a newspaper interview published on Wednesday.

Eurozone cash boost has prevented further crisis, says Bank of England
The long term refinancing operation (LTRO) has been widely praised for helping to avert another financial crisis in Europe and Sir Mervyn King told MPs it had helped banks to avoid a run. But he dismissed questions at a Treasury Select Committee ...


Euro crisis makes UK road to recovery bumpy
London: Britain's economy faces a bumpy road to recovery littered with risks and the Bank of England will be guided by the evidence when deciding whether to sanction another round of money creation, its top policymakers said yesterday.

Eurozone bank appetite for cheap central bank loans tops €1trn
Investment Europe
Eurozone banks used the European Central Bank's second round of cheap three year loans even more heavily than the first in December, but fund managers said the latest €529.5bn headline figure "does not solve the underlying solvency problems in the euro...

Investment Europe

Irish referendum likely to decide fate of euro zone
Sydney Morning Herald
DUBLIN: The fate of the euro zone is once again in the hands of Irish voters after Ireland's attorney-general recommended that a referendum be held on the EU's latest fiscal compact treaty. The Irish prime minister, Enda Kenny, told parliament that, ...

TEXT-S&P assesses emerging Europe's sensitivity to Eurozone shocks
Nineteen non-eurozone sovereigns are assessed in a report titled, "S&P's Sensitivity Index Measures Emerging Europe's Vulnerability To Eurozone Shocks," published on the Global Credit Portal on Feb. 28, 2012. While the Emerging Europe Sensitivity Index ...

Eurozone jitters over Irish vote and court ruling in Germany
A PLANNED referendum in Ireland and a German court ruling have cast new uncertainty over efforts to overcome the eurozone's debt crisis, just when a flood of central bank money appeared to be calming financial markets. Ireland's prickly electorate ...


Eurozone crisis: live blog | The World | International affairs blog from ...
By Josh Noble
Gideon Rachman and his FT colleagues debate international affairs.
The World

Calafia Beach Pundit: US equities trounce Eurozone equities
By Scott Grannis
The top chart compares the level of the S&P 500 to the level of its Eurozone counterpart, the Euro Stoxx index, while the bottom chart shows the ratio of the two. U.S. equities have massively outperformed Eurozone equities over the past five ...
Calafia Beach Pundit

Fuel Fix » Eurozone crisis: Live blog
By FT.com - Energy
Another big day for Europe, after Dublin announces plans to hold a referendum on the eurozone fiscal pact. Read more from Financial Times · « Previous Post · Next Post » · FT.com - Energy. You can read more energy news from the Financial ...
Fuel Fix

Euro zone CPI eases unexpectedly in January By Forexpros
By Forexpros
Euro zone CPI eases unexpectedly in January. ... Forexpros - Consumer price inflation in the euro zone eased unexpectedly in January, official data showed on Wednesday. In a report, Eurostat said consumer price inflation rose by a ...
Forex Pros RSS News Feed | Forex News

Eurozone CPI (y/y) 2.6%; worse than the 2.7% forecast.
By John Teister
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Forex News and Commentary by FXDD

XE.com - IATA sees oil price, euro crisis hitting airlines
The global airline industry faces hurdles from high fuel prices and the euro zone debt crisis, although passenger traffic rose in January from a year earlier and the slide in air freight seems to have tapered off, international air body IATA said on.
XE Forex News

Financial Crisis yields Prison Reform
Don't Throw Away the Key. Publication: Washington Post. Date: February 20, 2012. Except: IF THERE IS a silver lining to financial crises it is that governments may consider sensible policy changes that were once politically off-limits. Such is ...
Center For Law and Justice

Analysis: Eurozone HICP Revised Down To +2.6% Y/Y in January ...
By Market News International
January: -0.8% m/m, +2.6% y/y (revised from +2.7%) December: +0.3% m/m, +2.7% y/y November: +0.1% m/m, +3.0% y/y October: +0.3% m/m, +3.0% y/y.

The euro crisis: This is a problem | The Economist
On a day when Mario Draghi is supposedly shoving a meltdown ever farther from the realm of possibility, markets are souring on Portuguese debt in a big way. Perhaps the long-term refinancing operations aren't a cure-all after all. Given the ...
Free exchange

Eurozone Crisis: Is Short-Term Relief Enough To Ensure Survival ...
By rghosh
The approval of a second bailout for Greece and a second LTRO auction by the European Central Bank have significantly alleviated meltdown risks for the eurozone.
Risk Watchdog

Euro-Zone News Could Result in Yen Volatility
By forexyard
The Japanese yen saw slight gains against the US dollar during European trading yesterday, as investor concerns regarding the pace of global economic growth led to some risk aversion in...
PalFX - Information Services

Euro zone is not considering Greek exit – Juncker – forex.ch
By Forex.ch
Euro zone governments are not discussing debt-stricken Greece's departure from the currency bloc, Jean-Claude Juncker, the chairman of the euro zone finance ministers, said on Wednesday. “We've got .. See the rest here: Euro zone is not ...

Investing: Avoid The Eurozone? | Bankrate.com
Worried about investing in the eurozone? Read what William Reichenstein, CFA, Ph.D., says about international investments and the euro. Should you invest?

EU's Rehn sees deal on euro zone bailout funds in March - Yahoo ...
From Yahoo! News: MEXICO CITY (Reuters) - Euro zone countries are likely to reach a deal during March on raising the combined capacity of their bailout funds ...

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