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

Tuesday, March 27, 2012

Merkel: Greek euro exit would be "catastrophic"

Merkel: Greek euro exit would be "catastrophic"
Reuters
* Germany's Merkel warns against Greece leaving euro zone * Departure would be a "huge political mistake" LONDON, March 26 (Reuters) - Greece's exit from the euro would be a "catastrophic" political and economic mistake that would severely weaken ...

Bigger EU firewall won't stop financial contagion
CBS News
Yesterday, the German government reversed itself and backed a $266 billion increase for a firewall supposed to stop the spread of financial contagion in Europe. For weeks Chancellor Angela Merkel had steadfastly opposed any such increase for Europe's ...

CBS News

Germany Backs Boost to Bailout Fund
Wall Street Journal
By WILLIAM BOSTON BERLIN—Germany is officially backing down from its strict stance against boosting the euro zone firewall, seeing itself isolated as international pressure grows on Europe to boost its protections against the spread of financial ...

Wall Street Journal

Germany open to temporarily boost bailout fund to $930 billion, falls short of ...
Washington Post
BERLIN — Germany has backed down from its resistance to boosting Europe's financial firewalls, after Chancellor Angela Merkel said she was open to temporarily boosting the eurozone's bailout funds to €700 billion ($930 billion).

Germany's Merkel Supports Existing EFSF Loans To Run Parallel With ESM
Wall Street Journal
BERLIN (Dow Jones)--German Chancellor Angela Merkel said Monday that she would support allowing existing euro-zone bailout programs to continue to run in parallel with the planned permanent bailout fund. The compromise position would effectively boost ...

Ms. Merkel Builds Her Dream House
Huffington Post
Greece has been the most vulnerable point in the Euro-zone construction. For months now it has looked as if impending bankruptcy could topple exposed banks and undercut the financial foundations of one country after another -- putting in peril the ...

Germany's Merkel Assents to Bigger Bailout Fund
Voice of America (blog)
Germany is backing down from its resistance to increasing the size of the eurozone's bailout fund to rescue debt-ridden countries. The 17-nation currency bloc has created a new $666 billion rescue fund that is set to take effect in July.

Merkel backs stronger firewall; Spain concerns grow
Reuters
By Luke Baker and Noah Barkin | BRUSSELS/BERLIN (Reuters) - Germany signaled for the first time on Monday its willingness to increase the resources available for tackling the euro zonedebt crisis, a shift that may help protect Spain as its bond yields ...

Spain eyes female ESM nominee as grip on ECB seat slips: sources
Reuters
By Marc Jones and Julien Toyer | FRANKFURT/MADRID (Reuters) - Spain is considering proposing a female candidate to head the euro zone's permanent rescue fund in a bid to avoid being left without a top euro zone job as its hopes of clinging onto its ...

Spain eyes female ESM nominee as grip on ECB seat slips: sources
Chicago Tribune
FRANKFURT/MADRID (Reuters) - Spain is considering proposing a female candidate to head the euro zone's permanent rescue fund in a bid to avoid being left without a top euro zone job as its hopes of clinging onto its seat on the European Central Bank ...

Eurozone firewall talk fails to quell fears
Financial Times
By Richard Milne To listen to many eurozone policymakers, one would imagine all is now well with their two-year long struggle with the sovereign debt crisis. Progress on plans for a beefed-up “firewall” to bail out distressed countries, which now have ...

GLOBAL MARKETS-Ifo cheer fades as euro zone debt fears resurface
Reuters
Although the euro zone debt crisis has eased, fears that Italy and Spain may struggle to cut their debt burdens and revive growth have resurfaced. Both countries are seen as being too big for the euro zone to bail out. The Ifo has now risen for five ...

Merkel: Eurozone must avoid Greek exit
BBC News
In an exclusive Newsnight interview, she said Germany would do everything it could to keep the eurozone together. She also calmed fears of further bailouts foreurozone countries, saying important lessons had been learned.

BBC News

Merkel no longer against temporary boost to eurozone firewall
Monsters and Critics.com
Berlin/Brussels (dpa) - Chancellor Angela Merkel signalled on Monday that she was ready to drop her long-standing opposition to an expanded eurozone rescue fund. Speaking at a press conference in Berlin, Merkel said the new European Stability Mechanism ...

Euro zone ready to bolster firewall
CTV.ca
Germany signalled for the first time on Monday its willingness to increase the resources available for tackling the euro zone debt crisis, a shift that may help protect Spain as its bond yields rise and concerns grow about its public finances.

Michigan Court Reverses Detroit Financial Crisis Review Order
BusinessWeek
... Cronin Fisk on March 26, 2012 A Michigan (STOMI1) appeals court reversed a judge's ruling that required his approval for implementation of any agreement between Detroit and a state financial review team to address the city's financial crisis.

Merkel: Greek eurozone exit would be 'huge mistake'
Irish Examiner
The departure of Greece from the eurozone would be a "huge political mistake", according to German chancellor Angela Merkel. In an interview for tonight's edition of BBC television's 'Newsnight', she said it would be "catastrophic" to ask the country ...

Berlin backs plan to raise euro firewall
Financial Times
By Quentin Peel in Berlin and Peter Spiegel in Brussels Angela Merkel, Germany's chancellor, for the first time publicly confirmed on Monday that her government will back plans for an increase in the eurozone's financial “firewall” to at least €700bn, ...

Hopes Of Eurozone Bailout Enhancement Perks Up Risk Appetite
NASDAQ
(RTTNews.com) - The major US index futures are pointing a higher opening on Monday, with hopes concerning a beefed up eurozone bailout fund offering support to all risk currencies. Earlier in the Asian session, sentiment took a beating after Italian ...

Euro zone today – manning the defences
Reuters Blogs (blog)
By Mike Peacock In euro zone terms, two themes will dominate the week: Spain and the size of the euro zone rescue fund (Italy's labour reforms will play a supporting role). Yesterday, Spanish Prime Minister Mariano Rajoy won a key regional election in ...

Summary Box: Germany receptive to boost bailout fund to $930B, but short of ...
Washington Post
Chancellor Angela Merkel said she was open to temporarily boosting the eurozone's bailout funds to €700 billion ($930 billion). IS IT ENOUGH?: The €200 billion increase may still be short of what may be needed to protect Italy and Spain from collapse ...

Merkel gives ground on higher euro firewall
AFP
BERLIN — Chancellor Angela Merkel indicated Monday Germany was prepared to allow a boost in the eurozone's firewall against the eurozone debt crisis ahead of talks on the issue by European finance ministers. In an apparent shift of position amid ...

AFP

Merkel signals readiness to compromise on firewall
Chicago Tribune
BERLIN (Reuters) - German Chancellor Angela Merkel signaled for the first time on Monday that she was prepared to compromise on boosting the resources available for bailing out strugglingeuro zone states, paving the way for an increase in the bloc's ...

Euro zone to bolster firewall; Spain concerns grow
Economic Times
BRUSSELS: Euro zone finance ministers are ready to sign off on an increase in the region's financial firewall this week, with concerns about Spain's fiscal position banishing any complacency that the currency bloc's debt crisis is a thing of the past.

Eurozone must avoid Greek exit
AngolaPress
In an exclusive interview, she said Germany would do everything it could to keep the eurozonetogether. She also calmed fears of further bailouts for eurozone countries, saying important lessons had been learned. And she applauded the UK government's ...

German Market Modestly Higher
RTT News
Meanwhile, Italian Prime Minister and economist Mario Monti expressed concerns about Spain's public finances and warned the European Union is worried about "contagion" from Spain's debt crisis. The Euro Stoxx 50 index of eurozone bluechip stocks is ...

A look at economic developments and activity in major stock markets around the ...
Washington Post
... around the world Monday: ___ BERLIN — Germany backed down from its resistance to boosting Europe's financial firewalls, after Chancellor Angela Merkel said that she was open to temporarily boosting the eurozone's bailout funds to $930 billion.

EU: Large Firewall Needed To Boost Confidence In Euro Area
Wall Street Journal
BRUSSELS (Dow Jones)--A large rescue fund will signal that the euro zone isn't being complacent about the sovereign-debt crisis and will boost market confidence, a European Union spokesman said Monday. The spokesman made it clear that Olli Rehn, ...

Merkel, Under Pressure, Backs Euro Zone Bailout-Fund Increase
International Business Times
By IBTimes Staff Reporter: Subscribe to IBTimes's RSS feed Germany's Chancellor Angela Merkel, who has been reluctant to enlarge funds set aside for potential rescues of euro zone economies, agreed Monday to support a €200 billion ($265 billion) ...

International Business Times

A look at economic developments around the globe
Atlanta Journal Constitution
AP BERLIN — Germany backed down from its resistance to boosting Europe's financial firewalls, after Chancellor Angela Merkel said that she was open to temporarily boosting theeurozone's bailout funds to $930 billion. But the move still falls short of ...

Merkel Comes Around to Euro-Zone Firewall Boost
Spiegel Online
AP German Chancellor Angela Merkel and her Finance Minister Wolfgang Schäuble have long opposed a further expansion of the euro-zone bailout fund, which would expose German taxpayers to billions in new liabilities. But SPIEGEL has learned that Merkel ...

Spiegel Online

Oil Steady, Focus on Euro Zone Worries
International Business Times
By Zaida Espana Oil prices were steady at around $125 per barrel on Monday, pausing after a rally of around 1.5 percent the previous session as renewed worries about the financial stability of the eurozone returned to the fore.

The 4th Media » FUTURE OF THE EUROZONE: The Consequences ...
By Kiyul Chung
A Safety Net for the Creditor Banks. Through the second half of 2011 there were persistent signs of financial stress in many banks right across Europe – not only in Greece, Ireland, Portugal, Spain and Italy, but in France and even Germany too ...
The 4th Media

BBC – Merkel Interview: Eurozone Must Avoid Greek Exit | Keep ...
By keeptalkinggreece
German Chancellor Angela Merkel told BBC that it would be a huge political mistake if debt-ridden Greece was allowed to leave the eurozone. In an exclusive interview to British broadcaster, Merkel warned that the eurozone would be ...
Keep Talking Greece

EUR – Boosting Euro-zone Firewalls and the Problem Behind Spain ...
By Nick Nasad
Today's session saw the EUR rallying, but that move may had more to do with USD weakness that EUR strength. This week brings a key development as European leaders are set to increase the total funding capacity of their bailout funds.
FXTimes - Forex News, Commentaries,...

XE.com - Germany says financial transaction tax for euro zone won't ...
Finance Minister Wolfgang Schaeuble conceded for the first time on Monday that efforts to get a financial transaction tax implemented in the euro zone were doomed.
XE Forex News

Eurozone fears cause drop in UK takeovers | Business | The Guardian
Debt crisis causes 14% fall in number of takeovers and mergers, but average size of deal rises 41%, report reveals.
www.guardian.co.uk/.../26/eurozone-fears-drop-uk-takeovers

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm

johnyah