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

Tuesday, March 20, 2012

Eurozone: Portugal bailout fears grow

Eurozone crisis live: Portugal bailout fears grow
The Guardian
Gary Jenkins of Swordfish Research argue, though, that the financial markets could cope with a second Portuguese rescue package, if needed, but... if Italy were to do the same thing then it would probably spell the end of the Eurozone as we know it.

The Guardian
Investing in PIIGS: Portugal
Financial News
In 2008, it became PIIGS when Ireland was added after its banking crisis. While the acronym became something of a slur among the nations themselves, investors continued to use it to label the nations whose economies were in a death spiral: ...

Financial News

Euro Zone Current-Account Surplus Surges
Wall Street Journal
By TOM FAIRLESS FRANKFURT—The euro zone's current-account surplus surged in January to its highest level in almost five years, reflecting a strong balance of trade for goods and services, European Central Bank data published Monday showed.
 
Wall Street Journal

US Treasury completes sales of mortgage-backed securities bought during ...
Washington Post
WASHINGTON — The US Treasury Department has sold off the final portion of $225 billion in mortgage-backed securities it purchased during the height of the financial crisis. Treasury said Monday that the sales of securities issued primarily by troubled ...

Euro Zone Countries Exported More in Jan: European Central Bank
International Business Times
By Eleazar David Meléndez: Subscribe to Eleazar's RSS feed Euro zone countries exported more goods and services than they imported in January, lifting the monetary union's current account surplus, the European Central Bank said Monday.

International Business Times

Euro-crisis dilemma: austerity vs. stimulus
MarketWatch
By Mark Malloch-Brown LONDON (MarketWatch) — Spanish Prime Minister Mariano Rajoy has reopened a debate as old as the euro crisis or, indeed, debt crises themselves: Cut spending to reduce public deficits or spend to stimulate growth.

MarketWatch

German Current Account Surplus With Euro Zone Shrinks
NASDAQ
FRANKFURT -- Germany's current account surplus with other euro-zone states shrank last year to about half its 2007 peak, as German imports from the currency bloc picked up, the Bundesbank said Monday. German imports from other European states "remained ...

Today in the euro zone
Reuters Blogs (blog)
A payout of around $2.5 billion to holders of the insurance contracts on Greek bonds will not cause the calamity once feared by euro zone politicians and the ECB as it represents a drop in the ocean of losses investors have already taken on money lent ...

Euro-Zone Construction Output Shrinks Further
NASDAQ
LONDON -- Euro zone construction output fell for the second straight month in January, making a poor start to the year after a contraction in the final three months of 2011. Construction output in the 17 nations that use the euro shrank by 0.8% month- ...

Greek finance chief leaves to head Socialists
Huffington Post
Under Greece's second bailout, the country stands to receive a total of more than (EURO)172 billion euros in rescue loans from other eurozone countries and the International Monetary Fund over the next few years, including portions of its original ...

US economy growing, but high oil prices, eurozone woes a threat: S&P
Platts
While the outlook for the US economy has improved significantly over the last six months, external factors, including high oil prices or further eurozone problems, could put brakes on the recovery, Standard and Poor's said Monday.

Eurozone Current Account Surplus Rises In January
NASDAQ
(RTTNews.com) - The Eurozone current account surplus increased to EUR 4.5 billion in January from EUR 3.4 billion in December, the European Central Bank said Monday. The surplus in income account doubled in January and the current transfer deficit ...

Eurozone debt crisis may lead to more protectionism: WTO chief
Channel News Asia
By Linette Lim | Posted: 19 March 2012 2308 hrs SINGAPORE: The Eurozone debt woes which sparked a globalised crisis may lead to countries resorting to protectionism. This is according to the World Trade Organisation's (WTO) Director-General Pascal Lamy ...

IMF chief discusses eurozone crisis with Pranab
The Hindu
... on Monday had a meeting with Finance Minister Pranab Mukherjee and discussed the global economic environment, particularly in the wake of the continuing eurozone debt crisis and the role that emerging economies need to play in the changing world.

The Hindu

Eurozone crisis, loan insurance payouts and tax rises blow hole in bank ...
This is Money
By This Is Money Reporter The eurozone debt crisis, compensation costs after the PPI mis-selling scandal and higher taxes slashed the combined profits of the five biggest banks by 13 per cent last year. Barclays, HSBC, Lloyds Banking Group, ...

A Look Back at the US Financial Crisis: 2008
Business Insider
Inspired by this great timeline from the St. Louis Federal Reserve we are looking back on my thoughts at various points throughout the US Financial Crisis In a post last week we looked at 2007 which set the stage for the crisis with trouble in the MBS ...

Eurozone Construction Output Falls For Second Month
NASDAQ
(RTTNews.com) - Eurozone construction output declined for a second consecutive month in January, figures from the Eurostat revealed Monday. Output fell 0.8 percent month-on-month after a 1.9 percent fall in December. Compared to January last year, ...

REPEAT-BMO Harris Private Banking Market Report: Global Equities Continue ...
MarketWatch (press release)
The report notes an improvement in the outlook for the eurozone and a continued advance in global equity markets. "Coming into 2012, we identified the possibility of imminent default by Greece on its sovereign debt, and unsustainably high bond yields ...

IMF chief Lagarde meets Pranab; discusses euro zone crisis
Economic Times
NEW DELHI: The International Monetary Fund (IMF) chief Christine Lagarde today met Finance Minister Pranab Mukherjee and discussed the global economic situation, including theeurozone crisis. "We particularly discussed the euro area situation and we ...

Eurozone current account surplus grows: ECB
Economic Times
FRANKFURT: The eurozone's current account surplus grew to 4.5 billion euros ($5.9 billion) in January from 3.4 billion euros in December, data published by the European Central Bank showed on Monday. The current account on the balance of payments, ...

Bank of Greece sees deep recession in 2012
Bismarck Tribune
The gloomy predictions were made despite the coalition government successfully negotiating financial rescue deals with both its private creditors and emergency lenders from the eurozoneand International Monetary Fund. THIS IS A BREAKING NEWS UPDATE.

IMF chief meets FM,discusses euro crisis
Indian Express
International Monetary Fund chief Christine Lagarde on Monday met finance minister Pranab Mukherjee and held discussions on the global economy. Lagarde, who is on her first visit to India after taking the IMF top job also spoke on the proposed revision ...

PM: Greece over halfway to recovery
CNN
By Ralph Atkins and Kerin Hope, FT.com Greece's caretaker PM claims that most Greeks want to stay in the Eurozone, despite frequent anti-austerity demonstrations. (Financial Times) -- Greece's caretaker prime minister insists that a "large, ...

Drive Weakens For Big Fund Boost
Wall Street Journal (blog)
By Matthew Dalton The impetus for a large increase of the euro zone's bailout capacity appears to be weakening as tensions have eased in the region's government bond markets, euro-zoneofficials say. Governments in December said they would consider ...

Eurozone to return slowly to growth in 2013, Ernst & Young report
EMportal
Although the Eurozone faces a challenging year with large amounts of public and private sector debt yet to be refinanced, tight credit conditions, further fiscal austerity and more job losses,Ernst & Young said in its Eurozone Spring Forecastpredicting ...

IMF chief Lagarde meets Pranab, discusses euro zone crisis
Business Standard
PTI / New Delhi Mar 19, 2012, 18:48 IST The International Monetary Fund (IMF) chief Christine Lagarde today met Finance Minister Pranab Mukherjee and discussed the global economic situation, including the euro zone crisis.

Euro zone trade balance figures - worse than expected
Harpers Wine & Spirit Trade Review
In Europe, data release on Friday showed that Italian Trade balance and euro zone wide trade balance figures came in much worse than expected . This week's main releases will be the Manufacturing and Services Purchasing Managers' Index (PMI) from the ...

Greek Debt Insurance Auction Underscores Investor Concern
International Business Times
The auction and ISDA's ruling are good news for investors who bought insurance against default on the bonds of other weaker euro zone countries such as Spain and Portugal because it implies they would get paid if those countries run into trouble.

International Business Times

Eurozone didn't focus enough on Greek growth: Juncker
Bangkok Post
The eurozone has focused on helping Greece put its financial house in order while ignoring the vital question of growth, Eurogroup chief Jean-Claude Juncker said in an interview on Sunday. The eurozone has focused on helping Greece put its financial ...

Bangkok Post

Euro zone current account surplus widens in January By Forexpros
By Forexpros
Forexpros - The euro zone's current account surplus widened more-than-expected in January, official data showed on Monday. In a report, the European Central Bank said that the euro zonecurrent account recorded a seasonally adjusted ...
Forex Pros RSS News Feed | Forex News

Samuelson: Causes of the financial crisis | Richmond Times-Dispatch
Four years after the onset of the financial crisis -- in March 2008 Bear Stearns was rescued from failure -- we still lack a clear understanding of the underlying causes.
www2.timesdispatch.com - News

XE.com - TABLE-Investment flows out of euro zone in January
FRANKFURT, MARCH 19 (Reuters) - Investment flowed out of the euro zone in. Januray, the European Central Bank said on Monday. The ECB reported the. following data on the euro zonebalance of payments. Figures are in billions of ...
XE Forex News

Euro zone January adj current account surplus 4.5 bln | ForexLive
By Gerry Davies
Pretty much in line with median forecast of 4.3 bln. Compares to 3.8 bln in December.
ForexLive

The Coming Crisis: Eurozone countries face deeper budget cuts ...
By Lynsey
Eurozone finance ministers piled pressure on their Spanish counterpart in a meeting in Brussels on Monday night (12 March) as they demanded a sharper reduction in the 2012 budget deficit than the country's government was planning.
The Coming Crisis

Euro Zone Current-Account Surplus Surges – Wall Street Journal ...
By Google Inc.
By TOM FAIRLESS FRANKFURT—The euro zone's current-account surplus surged in January to its highest level in almost five years, reflecting a strong balance of trade for goods and services, European Central Bank data published Monday ...
Wall Street Financial News

Mortgage-backed securities that brought about the financial crisis ...
By Agence France-Presse
The US Treasury said Monday it had earned $25 billion from investments it made in mortgage-backed securities during the height of the financial crisis in 2008-2009. Announcing the completion of its disposal of its position in the securities, ...
The Raw Story

US economy growing, but high oil prices, eurozone woes a threat ...
By us economy - Google News
US economy growing, but high oil prices, eurozone woes a threat: S&PPlattsWhile the outlook for the US economy has improved significantly over the last six months, external factors, including high oil prices or further eurozone problems, ...
Daily Financial News

Assessing George Soros' latest Plan for Saving the Eurozone
By Yanis Varoufakis
In preparation, I decided to take a closer look at Soros' latest proposals for the eurozone. Here are some preliminary thoughts emanating from these proposals which I also compare and contrast to our Modest Proposal. Soros' plan works as ...
Social Europe Journal

EXCLUSIVE: GERMAN BANKERS GIVE MERKEL ULTIMATUM ...
By John Ward
With the help of Frankfurt and Parisian sources, US contacts, and German readers of this site, The Slog has been able to put together compelling evidence of Greece being perilously close to ejection from the eurozone. Doubts in Brussels and ...
The Slog

Mild Asia-Pacific Impact despite Expected Eurozone Contraction ...
By Admin
by Jared Heng Despite forecasting a contraction in eurozone GDP this year, an Ernst & Young report released on Monday expects the.
Biz DailyBiz Daily | Biz Daily

Euro Zone May Up Bailout Fund Capacity To Near 700 Billion Euros ...
By goldguru
Reuters By Jan Strupczewski March 16, 2012 (Reuters) – The euro zone may raise the combined lending power of its bailout funds to close to.
Gold Newswire

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