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

Friday, March 16, 2012

Eurozone: rising unemployment, hourly labor costs

Euro zone job rate shrinks, labour costs rise
Reuters
Employment down by 0.2 pct in euro zone in Q4 vs Q3 2011 * Euro zone hourly labour costs rise 2.8 pct in Q4 2011 vs Q4 2010 * Economists see rising unemployment; contrasts to US jobs recovery By Robin Emmott BRUSSELS, March 15 (Reuters) - The number of ...

Despite Progress, Euro Crisis Is Far From Over
Spiegel Online
AP Luxembourg Prime Minister Jean-Claude Juncker (right) with Spain's Economy Minister Luis de Guindos at the finance ministers' meeting on Monday: Despite recent progress, the euro crisis isn't over yet. The Greek debt cut worked and the rescue ...

Spiegel Online

Euro-zone real wages, employment fall again
MarketWatch
Wages in the euro zone rose 2.5% on the year in the fourth quarter of last year. While that was marginally stronger than the 2.4% increase in the third quarter, it compares with an average inflation rate of around 2.9%, indicating real wages fell over ...

Real Wages Fall in Euro Zone
Wall Street Journal
The 17-nation euro zone is a collection of countries with vastly different economic profiles. See how they stack up on the major measures. Hear six families—from Greece, Spain, France, Germany, Italy and the Netherlands—tell their stories.

Euro zone's woes a chance to build trust
The National
They highlight the euro zone's institutional deficits - a single currency and a central bank but none of the other elements of a well-functioning monetary union. Of course, in all of these areas, the critics have a point.

The National

Eurozone crisis may affect Indian banks
Times of India
NEW DELHI: Though Indian banks' exposure to the troubled eurozone is negligible, funding pressure could impact them, Economic Survey 2011-12 today said. "The recent regulatory prescriptions for European banks have raised fears of deleveraging.

Eurozone crisis live: Greece task force reports as UK warned by Fitch
The Guardian
9.06am: Here's today's agenda: • Italian general dovernment debt data - 9.30am GMT / 10.30am CET • Eurozone employment data for Q4 2012 - 10am GMT / 11a, CET • Bank of England's Ben Broadbent speech in London - 11.30am GMT • EU Task Force to Greece ...

The Guardian

Euro Mixed After Eurozone Employment Report
NASDAQ
(RTTNews.com) - The euro showed mixed trading against its major rivals on Thursday following a report showed that the employment rate in the eurozone fell in the fourth quarter. While the single currency edged lower against the yen, it remained its ...

Eurozone countries face deeper budget cuts than expected
European Voice
By Ian Wishart - Today, 05:19 CET Eurozone member states may have to make tougher cuts than they expected to ensure that they keep their budget deficits over the next few months within targets agreed at European Union level. Eurozone finance ministers ...

Euro zone not out of the woods, RBC executive warns
Globe and Mail
Approval of Greece's sovereign debt overhaul, the biggest bond restructuring on record, does not mean the worst is over for the euro zone despite buoyant markets, one of the top Royal Bank of Canada executives and other market watchers say.

Globe and Mail

Stocks close higher; S&P 500 tops 1400-mark for first time since financial crisis
msnbc.com (blog)
Stocks rose Thursday, with the S&P 500 index, a broad gauge of the market, topping the 1400-mark for the first time since the financial crisis on a strong run of economic data. Though 1400 on the S&P, which marks the highest level for the index since ...

msnbc.com (blog)

Eurozone's employment drops again
Financial Post
By Robin Emmott BRUSSELS — The number of people in work in the eurozone fell again in the last three months of 2011 while hourly labour costs rose, highlighting Europe's difficulty in driving a US-like recovery in jobs. Employment in the 17 nations ...

Eurozone crisis at heart of UK's economic woes, MPC member says
The Guardian
The eurozone crisis and the sucker punch it delivered to the UK banking sector is at the heart of the UK's current economic woes, a Bank of England policymaker said on Thursday, giving support to the chancellor's view that external forces are largely ...

The Guardian

Expectations For A Euro Zone Recession Growing: Reports
International Business Times
Expectations that the euro zone will fall into recession this year or, at best, post anemic growth are growing. Two forecasts for the euro zone's gross domestic product, or the GDP of its member states, this year from the European Central Bank and ...

EUROBONDS: Primary Activity Muted, Euro-Zone Data Disappoints
Fox Business
Elsewhere, the cost of insuring European sovereign and corporate debt mostly rose, while data from the European Union indicated that consumption and confidence remain weak due to declining employment and falling real wages in the euro zone.

Euro crisis to keep markets volatile
Business Today
"The euro zone imbroglio kept the global markets fluctuating throughout the year. Unless the crisis in Europe is settled, volatility in global markets including India will tend to persist," said the annual report card of the state of economy, ...

Business Today

Eurozone countries approve 130-billion-euro second bailout for Greece
The Australian
THE eurozone countries overnight finally signed-off on Greece's second bailout program, ending a protracted and dramatic negotiating process that started last July. The hope is that the €130 billion ($162.1 billion) package, funded mostly by eurozone ...

Eurozone Q4 Employment Falls, Hourly Labor Costs Rise
NASDAQ
(RTTNews.com) - The number of employed persons in Eurozone fell 0.2 percent sequentially in the fourth quarter, the same rate of decline as seen in the third quarter, Eurostat said Thursday. The largest sequential fall in employment was recorded in ...

A Modest Proposal To Solve Greek Financial Crisis: License Its History
Forbes
Of all the places I know, Greece lies most at the core to me, the place to which I always return as if visiting a beloved, again. To be there has always meant to be surrounded by life, poems, history, legacy, beauty of place, art and timelessness.

Create firewall to check contagion in financial sector: Survey
Zee News
"Efforts therefore have to be made towards building firewalls to prevent contagionfrom one sector to another, especially in times of stress," it said, adding that any financial stability issue regarding banks in the conglomerate may have an amplifying ...

Zee News

Today in the euro zone
Reuters Blogs (blog)
Visibility may be down to a minimum but there is a developing view that the euro zone debt crisis, if not solved, is in remission. Spain should follow Italy's lead yesterday and sell short- to medium-term bonds with ease despite a tussle with the EU ...
IMF approves euro28BN funding for Greece
Huffington Post
Greece will receive a total euro172.7 billion in rescue loans from its eurozone partners and the IMF to keep it afloat in the next few years, as dizzily high borrowing rates have blocked its ability to raise money on the international bond markets.

Eurozone Gives Final OK for Greek Bailout
The Chosun Ilbo
After months of negotiations with its European neighbors, Greece has secured final approval of a new $170 billion bailout, the country's second rescue package in two years. Luxembourg Prime Minister Jean-Claude Juncker said Wednesday the first...

The Chosun Ilbo

The ECB's Difficult Crisis Exit
Bloomberg
The bank already forecasts euro zone inflation to remain above its target 2 percent threshold all year–and sees further “upside risk”–even as the region is on the cusp of another recession. All in all, it's an uncomfortable situation.

Bloomberg

Trouble Finding a Loan in Euro Zone
Wall Street Journal
Despite the European Central Bank's massive injections of cash since December to help theeuro-zone's banking sector avoid a liquidity crisis, there are scant indications that the money has started trickling down to companies and households on the ...

Eurozone formally approves new Greek aid
BigPond News
The eurozone has formally approved a second bailout for Greece and authorised the release of $A49 billion. Countries in the 17-nation eurozone have formally approved a second bailout for Greece and authorised the release of 39.4 billion euros ($A49 ...

BigPond News

Global financial crisis as a human rights issue
Aljazeera.com
My topic these days is the financial crisis as a human rights issue and I was invited by an international NGO to bring it to the sessions alongside the Human Rights Council composed of 47 member states. Inside Story: US 2012 - Wall Street in the White ...

Aljazeera.com

What Asean can learn from euro-zone meltdown
The Nation
The euro-zone mess was triggered by a complex set of factors. Yet, although economists might argue over the real cause of the crisis, there are at least three interrelated factors that Asean can take lessons from. First is the disparity in economic ...

Banks maintain robustness amid Euro Zone crisis
Indian Express
Given the weak global economic prospects and continuing uncertainties in the international financial markets, the availability and cost of foreign funding for banks and corporate is likely to be negatively impacted. Indian financial markets, especially ...

Swiss govt says easing for euro crisis paves way for Swiss economy ...
By Gerry Davies
Sees 2012 growth at +0.8% from previous forecast of +0.5% Sees 2012 inflation at -0.4% from previous forecast of -0.3% Sees 2013 growth at +1.8% from.
ForexLive

XE.com - UPDATE 1-Euro zone job rate shrinks, labour costs rise
The number of people in work in the euro zone fell again in the last three months of 2011 while hourly labour costs rose, highlighting Europe's difficulty in driving a U.S.-like recovery in jobs.
XE Forex News

Trust Your Instincts: Eurozone shows how losses are transferred ...
By Richard Field
In discussing the difference between the Japanese and Swedish models for handling a bank solvency led financial crisis, your humble blogger noted that under the Japanese model losses are transferred to the taxpayers while under the ...
Trust Your Instincts

Protest Contagion: North Africa & the Middle East Today | The ...
By globalization
Protest Contagion: North Africa & the Middle East Today: A Symposium. Monday March 19th, 2012. 3pm Reception | 4pm Lecture Dining Hall, Patio Room, Queens College. Click here for the conference flyer: North African Conference poster ...
The Committee on Globalization...

WSJ editorial lumps Providence financial crisis in with Detroit's ...
By Ted Nesi
The clock's running out on Detroit. City leaders are up against a $200 million deficit driven by exploding labor costs and may not be able to pay the bills come May. The state of Michigan has just swept in with a deux ex machina. Trouble is, city ...
WPRI.com Blogs

Fabrice Grinda: Musings of an Entrepreneur » Is the Euro zone crisis ...
By Fabrice Grinda
While doing research for the section on the Euro zone crisis, I came across an article I helped write for Niall Ferguson in 2003 where I argued that the European Union was far from an “optimal currency area” with broadly homogeneous ...
Musings of an Entrepreneur

EUR/USD: Euro down on disappointing data from Euro-zone ...
By GCI Financial
For the 24 hours to 23:00 GMT, EUR declined 0.38% against the USD and closed at 1.3029, amid weak data from the Europe. On a yearly basis, industrial production in the Euro-zone fell 1.2% in January, compared to a 1.8% decrease ...
GCI Forex News

NPthinking: Will May be a turning point in EU and Eurozone politics?
By noreply@blogger.com (nickp)
With French election round 2 (May 6), the German Bundestag and Bundesrat votes on the Fiscal Compact and now the North Rhine-Westphalia elections, May can prove a turning point in EUropean politics, stopping the tide of Merkozian ...
NPthinking

Predicting the Next Euro-Zone Crisis – Unfolding in 2012Q3: The ...
By fmpdea
I recently wrote a series of posts on the political, economic and social risks in Europe. There was a lot of information in it so it took me some time to digest them. Having done so, I have come to see a pattern of approaching events that I believe ...
Place du Luxembourg

Euro Mostly Flat on Disappointing Data — Forex News
By MMarquit
Eurozone data continues to disappoint, leaving the euro mostly flat today. Even though euro is a little higher against the US dollar and the UK pound, gains have been somewhat insignificant so far. Concerns about recession in the eurozone ...
Forex News

Euro-Zone News and Analysis - Article Viewer
Eurozone finance ministers cleared the way for the second Greek bailout yesterday, which means that the first €39.4bn tranche of funds can be released with most going towards recapitalising Greek banks. The planned merger of Greek banks ...
Open Europe

Eurozone Q4 employment change q/q -0.2% vs -0.2% expected and ...
By Vincent Facchino
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Forex News and Commentary by FXDD

Ironies Too: IMF changes rules to fit Greece and the Euro Zone.
By Martin
IMF changes rules to fit Greece and the Euro Zone. The full report is in the Wall Street Journal linked here. The following is an even more eye-opening quote than this posting's headline, from the content of the article: The fund has lent Greece ...
Ironies Too

What Made the Financial Crisis Systemic? | Patric H. Hendershott ...
Author: Patric H. HendershottKevin Villani, Published: 2012-03-06, Type: Policy Analysis.
www.cato.org/.../policy.../what-made-financial-crisis-systemic

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