Euro crisis needs "mother of all firewalls"-OECD
OECD says investor confidence fragile, banks weak * Euro zone needs "credible" debt reduction targets * EU's Rehn defends austerity, says will bring rewards By Robin Emmott BRUSSELS, March 27 (Reuters) - Euro zone finance ministers need to impress ...
Euro crisis needs "mother of all firewalls": OECD
By Robin Emmott | BRUSSELS (Reuters) - Euro zone finance ministers need to impress finance markets with the size of their rescue fund for indebted countries when they meet later this week, the head of the OECD said on Tuesday, advocating "the mother of ...
Euro crisis needs 'mother of all firewalls,' OECD warns
Los Angeles Times
By Tiffany Hsu Keeping the Eurozone financially stable amid "daunting" challenges will require a bailout fund of at least 1 trillion euros, or $1.3 trillion -- "the mother of all firewalls" -- the head of the Organization for Economic Cooperation and ...
Eurozone Follies: Confusing Callousness for Courage
reels again as rates rise over doubts it can roll over its debt, it is time to step back and note that the eurozone can almost surely solve its problems in the medium term if it truly wants to. Surprise? It shouldn't be. But rarely has there been such ...
OECD: Eurozone Needs Much Bigger Bailout
Voice of America
March 27, 2012 OECD: Eurozone Needs Bigger Bailout Fund, Reforms Lisa Bryant | Paris The Organization for Economic Cooperation and Development (OECD) demanded more reforms and a stronger financial rescue fund to help the eurozone recover from its debt ...
OECD Urges Euro Zone to Boost Firewalls
Wall Street Journal
By RIVA FROYMOVICH BRUSSELS—The European Union and the Organization for Economic Cooperation and Development on Tuesday urged euro-zone leaders to forge ahead with a decisive boost to the bloc's firewall to prevent runs against solvent sovereigns.
OECD Urges Euro Zone To Boost Firewalls Towards EUR1 Trillion
Wall Street Journal
BRUSSELS (Dow Jones)--The Organization for Economic Cooperation and Development, in a report Tuesday, urged euro-zone leaders to immediately reinforce firewalls to prevent runs against solvent sovereigns. The report comes ahead of a key meeting of ...
OECD pushes for $1.3 trillion eurozone crisis fund
Kansas City Star
Angel Gurria, the secretary-general of the Paris-based international development body, said existing plans for a (EURO)500 billion ($664 billion) European rescue fund were not enough to restore market confidence in the eurozone.
OECD Says Eurozone Needs Much Bigger Bailout Fund
Voice of America (blog)
On Tuesday, Angel Gurria, the OECD's secretary general, said eurozone finance ministers meeting later this week in Copenhagen need to create a $1.3 trillion rescue fund. He said the “mother of all firewalls” is needed — to be certain the fund has ...
Detroit's financial crisis: Key things you should know
Detroit Free Press
Detroit needs about $60 million a month to operate – much more than it takes in. Without a massive overhaul of how the city does business – including big concessions in pay and benefits for city employees, a change from a defined-benefit to a defined ...
Detroit Free Press
OECD: Eurozone Not Out of the Woods Yet
The euro zone's public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, with a warning that the bloc's banks remain weak, debt levels are still rising and fiscal targets are far from assured.
Detroit's financial crisis tests preachers' patience
Detroit Free Press
David Bullock has been preaching about Detroit's financial crisis from the pulpit. "Every Sunday," said Bullock, pastor of Greater St. Matthew Baptist Church in Highland Park and president of the Detroit chapter of the Rainbow PUSH Coalition.
Merkel's Plan at Home and Abroad
Wall Street Journal (blog)
By William Boston After yesterday's announcement that Germany plans to go along with a largereuro-zone firewall — even if the least effective option on the table — Chancellor Angela Merkel will now start to make sure her message does not get lost in ...
OECD Urges Euro Zone To Boost Firewalls To E1 Trillion
BRUSSELS -- The European Union and Organization for Economic Cooperation and Development Tuesday urged euro-zone leaders to forge ahead with a decisive boost to the economic bloc's firewalls to prevent runs against solvent sovereigns.
Euro-zone needs 1 trilllion euro firewall: OECD
By William L. Watts FRANKFURT (MarketWatch) -- Euro-zone finance ministers meeting at the end of this week need to boost the firepower of the region's rescue funds to at least 1 trillion euros ($1.34 trillion) in order to restore market confidence, ...
Bernanke Tackles 2008 Financial Crisis In Third GW Lecture
Federal Reserve Chairman Ben Bernanke is finally getting to the juicy, current events portion of his four-lecture series at George Washington University Tuesday, discussing the 2008 financial crisis. Previously released documents from the Fed have ...
Eurozone needs 'mother of all firewalls', says OECD
The eurozone needs "the mother of all firewalls" if it is to protect the EU's single currency from debt contagion, the Organisation for Economic Co-operation and Development (OECD) has warned. By Bruno Waterfield, in Brussels Angel Gurria,...
Europe Urged to Increase Firewall to a Trillion Euros
New York Times
BRUSSELS — The European Union should increase its financial firewall to about €1 trillion to restore market confidence in the euro zone and prevent the spread of fiscal contagion, the head of the Organization for Economic Cooperation and Development, ...
Eurozone finance ministers must raise ONE TRILLION euro bailout for the ...
By Anthony Bond The eurozone bailout fund should be increased to 1 trillion euros to provide 'the mother of all firewalls', the head of a leading international development body said today. Angel Gurria, the secretary general of the Organization for ...
Today in the euro zone –
Reuters Blogs (blog)
By Mike Peacock Conflicting pressures for the euro zone bond market today – a strong signal from Germany that it is willing to increase the firewall built around the currency bloc but ongoing concerns that Spain is being dragged into the mire.
Germany open to raise crisis firewall to $930 bn
By GABRIELE STEINHAUSER and DAVID RISING Germany has backed down from its resistance to boosting Europe's financial firewalls, after Chancellor Angela Merkel admitted that she was open to temporarily boosting the eurozone's bailout funds to (EURO)700 ...
Europe's Firewall Follies
Wall Street Journal
Angela Merkel said Monday that the German government will support expanding the resources of the euro zone's bailout fund to €700 billion from €500 billion. The European Commission wants €940 billion for the European Stability Mechanism (ESM), ...
German Leader Agrees to More Bailout Money for Euro Zone Nations
New York Times
BRUSSELS — The European Union took a big step on Monday toward building a financial firewall strong enough to prevent the spread of fiscal contagion to major economies like Spain. The move came after Germany dropped its opposition to bringing the ...
OECD calls for 1.0-tn-euro eurozone debt fund
BRUSSELS — The eurozone came under new pressure to boost the firepower of its debt rescue fund on Tuesday, with the 34-nation OECD pressing for a safety net of at least 1.0 trillion euros ($1.33 trillion). "The European firewalls should be expanded ...
Bernanke In Lecture Defends Fed's Actions In Financial Crisis
By Kristina Peterson and Michael R. Crittenden WASHINGTON -(Dow Jones)- The Federal Reserve's forceful response during the financial crisis prevented a more severe economic recession, Chairman Ben Bernanke said Tuesday in one of his most comprehensive ...
OECD calls on eurozone finance ministers to take decisive action
The struggling eurozone needs the "mother of all firewalls" to provide the breathing space from its debt crisis needed to revive growth, the west's leading economic thinktank said on Tuesday. In its annual health check on the 17-nation single currency ...
OECD urges eurozone rescue fund boost to 1tn euros
The head of the Organisation for Economic Co-operation and Development (OECD) has said that the eurozone needs to double its bailout fund to 1 trillion euros ($1.3tn, £836m). Angelo Gurria said the eurozone must show investors they have the "firepower ...
Euro zone rescue funds should be at least 1 trn euros: OECD
London: The debt-laden euro zone nations should bolster their financial firewall to at least one trillion euros to boost growth in the region, Paris-based think tank OECD said Tuesday. The 17-nation euro area, that share the common currency euro, ...
Germany agrees to more bailout money for eurozone
Michael Sohn/AP German Chancellor Angela Merkel said she was open to temporarily boosting the eurozone's bailout funds to 700 billion euros, reversing Germany's stance on the lending capacity. As part of a technology change, commenting will not be ...
OECD presses eurozone on need for 1-trillion-euro bailout fund
Monsters and Critics.com
By Alvise Armellini Mar 27, 2012, 11:35 GMT Brussels - The eurozone needs a 1-trillion-euro (1.34-trillion-dollar) bailout fund, the Organization for Economic Cooperation and Development (OECD) insisted Tuesday, as the currency bloc was set to approve ...
Jeff Madrick: Eurozone Follies: Confusing Callousness for Courage
By Jeff Madrick
The essence of the euro crisis is that members cannot devalue or control their own monetary policy. But the ECB could have done so. If it had recognized its obligations, the crisis would not have been nearly as great.
Europe on Huffington Post
Will Holland Escape the Eurozone Debt Crisis by Exiting the ...
Will Holland Escape the Eurozone Debt Crisis by Exiting the European Union? :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle
Forex - NZD/USD steady amid euro zone uncertainty By Forexpros
Forexpros - The New Zealand dollar was steady against its U.S. counterpart on Tuesday, as markets were jittery after downbeat German economic data while concerns over a third round of monetary easing in the U.S. weighed on demand for ...
Forex Pros RSS News Feed | Forex News
French Politics: OECD Warns Eurozone on Need for Reform
By Arthur Goldhammer
OECD Warns Eurozone on Need for Reform. The OECD has told the Eurozone that it needs to undertake "ambitious structural reforms" in order to avoid a further recession. It also warned that the financial backstop might need to be increased.
OECD predicts tough times ahead for eurozone - Business - Mail ...
The Organisation of Economic Cooperation and Development has warned that the eurozone'sdebt crisis is not over and banks in the bloc remain weak.
Mail & Guardian News Feed
Marc Faber: Continuing Financial Crisis Must Be Endured ...
By Stefan B
Marc Faber: Continuing Financial Crisis Must Be Endured. by Ed Bace, CFA, Seeking Alpha: Marc Faber, editor of “The Gloom, Boom and Doom Report,” kicked off the CFA Institute Middle East Investment Conference by quoting Ernest ...
SGTreport - The Corporate Propaganda...
OECD's Gurria: Eurozone needs to boost bailout funds beyond ...
By Joe Brown
In an effort to also boost reassurance in the markets which are still shaky. We need the mother of all firewalls to shock markets positively with.
XE.com - Most JGBs fall as Fed, eurozone firepower hopes boost ...
Most Japanese government bond prices edged down on Tuesday on expectations of prolonged monetary easing in the United States and measures to bolster the euro zone's rescue funds.
XE Forex News
Euro zone debt crisis far from over: OECD - Yahoo! News
From Yahoo! News: BRUSSELS (Reuters) - The euro zone's public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, ...