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

Monday, March 19, 2012

Portugal Next? Warnings Euro Crisis Is Not Over

Monti Presses Ahead Amid Warnings Euro Crisis Is Far From Over
Bloomberg
With billions of euros committed to hold Greece afloat and investors looking to see whether contagion could spread to Spain or Italy, the fragility of rescue efforts were reflected in bond yields last week. Spain's 10-year yield climbed 20 basis points ...

Bloomberg

Portugal will be the next Greece, predicts Mohamed El-Erian
The Guardian
Portugal will follow Greece to be the next eurozone country to falter, according the boss of the world's largest private sector bond fund. Like Greece, it will need extra cash from Brussels to stop the country going bust, Pimco chief executive Mohamed...

The Guardian

Eurozone didn't focus enough on Greek growth: Juncker
AFP
ATHENS — 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. "I believe we have not paid enough attention on the ...

AFP

Juncker Admits Being Worried Greece Would Exit Eurozone -Report
Wall Street Journal
ATHENS (Dow Jones)--Luxembourg Prime Minister Jean-Claude Juncker, who heads the group of euro-area finance ministers, said Saturday he was really worried at some time about the possibility Greece to exit the euro zone. In an interview with the ...

There is no Spanish siesta for the eurozone crisis
Financial Times
By Wolfgang Münchau The markets have concluded that the eurozone crisis has ended. Several politicians said that they, too, believed that the worst was over. Complacency is back. I recall similar utterances in the past. Whenever there is some technical ...

Global financial crisis upends division of labour
The Australian
LOWER-SKILLED men have done better than lower-skilled women in the job market in the three years since the bottom of the global financial crisis. At the top of the corporate ladder, women are gaining ground on men in management and extending their lead ...

A Quick Guide To Everything Going On In The Eurozone Right Now
Business Insider
But while Europe may look a lot healthier now that banks have plenty of capital and Greece is no longer on the verge of collapse, this doesn't mean the eurozone is any closer to actually solving its problems. The biggest issue right now remains the ...

Lee McCulloch admits he's gutted Rangers' financial crisis has robbed him of ...
Scottish Daily Record
Lee McCulloch drove into Murray Park on February 13 buoyed by the belief Rangers were still on course for Four-in-a-Row. But when the midfielder left the training ground five hours later he was certain their title was gone – and that was the least of ...

Juncker: Eurozone has done little for Greek growth
Agenzia Giornalistica Italia
(AGI) Athens - The Eurozone has focused its aid to Greece on money, ignoring the vital question of economic growth, said European President Jean-Claude Juncker in an interview with the Greek publication Kathemerini. "I think," said Juncker, ...

Global Economy on Recovery Path: IMF
International Business Times
(Reuters) - The global economy has stepped back from the brink of danger and signs of stabilisation are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, ...

International Business Times

Samuelson: Economists' 'science' didn't stop financial crisis
Asbury Park Press
WASHINGTON — 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. Hundreds of studies and books have given us an increasingly ...

The financial crisis is at the heart of the problems with Solvency II
Telegraph.co.uk
Solvency II is not a subject likely to excite the hearts of the British consumer. By Otto Thoresen Yet this anonymous-sounding EU directive has become one of the most difficult challenges to face the European insurance industry, in which the UK is a ...

Telegraph.co.uk

The oil price is the new eurozone crisis
Telegraph.co.uk
No sooner has the pressure on markets from the eurozone crisis begun to ease than investors have found something else to worry about – the oil price. By Tom Stevenson If, as they say, bull markets “climb a wall of worry” then the seamless shift from ...

Telegraph.co.uk

Juncker: Eurozone Didn't Focus Enough on Greek Growth
Greek Reporter
By A. Papapostolou on March 18, 2012 in Economy, News, Politics The eurozonehas focused on helping Greece putting its financial house in order while ignoring the vital question of growth, Eurogroup chief Jean-Claude Juncker said in an interview on ...

Greek Reporter

Eurozone: Give Michel Platini some credit for making the Champions League more ...
Liverpool Echo
by Neil Jones, Liverpool Echo THOSE who hanker for a return to the days when the European Cup was, well, a European Cup, will have been delighted to see Chelsea overcome Napoli in their Champions League last 16 clash. Roberto Di Matteo's side's ...

Nothing Set in Stone for 'This Time Is Different' Economy
Wall Street Journal
By JUSTIN LAHART Even if market sentiment has brightened lately, the received wisdom says that in the wake of the financial crisis, the US economy is destined for long-term malaise. That may not be exactly right. Among policy experts and economists, ...

A Greek bond deal that falls foul of fair
Financial Times
Unable to pay its out-of-control debts, Athens and eurozone governments decided private bondholders should lose about three-quarters of their investment. The deal is replete with unfairness. The European Central Bank, which bought up bonds in the ...

Financial Times

Jean-Claude Juncker on the Greek rescue
Kathimerini
Juncker admits that there was a point when he was very concerned regarding Greece's future in the eurozone, when the reactions of the markets became so irrational that it appeared that a political solution could not be found to the problem.

Le Moyne professor answers the question: What caused the financial crisis?
Syracuse.com (blog)
As the financial crisis deepened, in the fall of 2008, it came to light that the “salesmen” of AIG had pocketed gargantuan commissions, while AIG had (literally) bet that it would not have to pay any settlements, and thus had maintained only minuscule ...

Syracuse.com (blog)

Global economy on recovery path, risks remain: IMF chief
Reuters
By Nick Edwards and Koh Gui Qing | BEIJING (Reuters) - The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising ...

Osborne says new budget will help the poor
gulfnews.com
Osborne also said yesterday the Eurozone crisis and high oil prices posed a threat to the global economy. "My priority is to help low and middle earners. That is where the bulk of the effort in the budget is going to be," he said on BBC television.

Germany's Schaeuble tipped as new Eurogroup chief
The News International
FRANKFURT: German Chancellor Angela Merkel has tipped finance minister Wolfgang Schaeuble to take over as head of the Eurogroup of Eurozone finance ministers, a newspaper reported on Friday. The Financial Times Deutschland, quoting sources in Brussels ...

Tensions rise as Italy labor talks enter home stretch
Chicago Tribune
ROME (Reuters) - Prime Minister Mario Monti faces an arduous task this week to reconcile the demands of unions and employers and draft a labor reform aimed at boosting Italy's competitiveness and shielding it from the euro zone debt crisis.

Why EAC must not rush single currency
Business Daily Africa
If you have not been following the unraveling of the Eurozone crisis that joke will mean nothing to you. But there are two reasons why East Africans should pay some attention to what's going on in the Eurozone. Firstly, the crisis was cited as one of ...

Business Daily Africa

Mutual funds say 'bye' to bad three-year records
MarketWatch
By Chuck Jaffe, MarketWatch With the three-year anniversary of the US stock market's bottom during the 2008-09 financial crisis passing last week, fund firms have a lot to be joyful about. They can now show off three-year track records that no longer ...

The UK economy has had the rain, now here come the green shoots
Telegraph.co.uk
By Angela Monaghan, and Philip Aldrick When the Chancellor delivered his Autumn Statement in November the country was heading for a double-dip recession; theeurozone crisis was escalating; China was slowing, and the US economy still looked ...

Telegraph.co.uk

Can Swiss National Bank Rescue Switzerland's Economy?
International Business Times
However, on the negative side, Capital Economics points out that the still high level of the franc and weakening demand from the eurozone are hurting exports. Roughly half of Swiss exports typically go to the eurozone. Capital Economics adds that with ...

ECONOMIST: Calls For Greece To Leave The Euro Are Shortsighted
Business Insider
Greece's recent return to financial stability hasn't stilled economists like Nouriel Roubini and Ken Rogoff, who argue that only a Greek exit from the eurozone will return the country to growth and long-term sustainability. In an article published in ...

Business Insider

This burden of bank debt is simply not sustainable
Irish Independent
Indeed, Ireland ran budget surpluses in every year but one since eurozone membership commenced in 1999 and was one of the few eurozone countries that stayed within both the deficit and debt limits of the Stability and Growth Pact in every year up to ...

Alasdair Macleod: Eurozone banks and contagion risk | Gold Anti ...
By cpowell
Alasdair Macleod: Eurozone banks and contagion risk. Submitted by cpowell on Sun, 2012-03-18 15:57. Section: Daily Dispatches. 11:55a ET Sunday, March 18, 2012. Dear Friend of GATA and Gold: Economist and former banker Alasdair ...
Gold Anti-Trust Action Committee...

Euro Crisis: Plight of the Netherlands, Staggering Unemployment in ...
Euro Crisis: Plight of the Netherlands, Staggering Unemployment in Spain and Greece :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle

The new political economy of the Eurozone « Real-World ...
By merijnknibbe
But the Eurozone has neither. As Eurozone countries may not be in the same phase of the business cycle, monetary policy is sometimes just not an option. Unified fiscal policy is hard to achieve. And exchange rate policy is also not an option ...
Real-World Economics Review Blog

Incentives Matter: No Solution for Greece Outside of the Eurozone
By Pedro H. Albuquerque
Exiting the Eurozone would only add to the debt burden without resolving Greece's competitiveness problem, which stems primarily from regulatory barriers to competition, restrictive labour practices, and red tape that raise the cost of doing ...
Incentives Matter

Reflecting Back And Looking Forward – The Fuller Brush Man by ...
By Ken Gross
From the Detroit Jewish News - March 15, 2012 Two weeks ago, Fuller Brush Co. filed for Chapter 11 bankruptcy. The story generated a trip down memory.
Financial Crisis Talk Center...

David Lindsay: Liberal And Democratic After All?
By David Lindsay
The UK is not part of the Eurozone. In December, European leaders agreed new rules for the Eurozone which will mean that countries in the Eurozone will have to balance their budgets, there will be punishments for countries which run up ...
David Lindsay

Greece Default Programs – Where To Go
By Shepard
In October 2011 and February 2012, the eurozone leaders agreed on more measures designed to prevent the collapse of member economies. This included an agreement whereby banks would accept a 53.5% write-off of Greek debt owed to ...
Have You Any Wool

Impacts of the global economic and financial crisis on women in ...
By AidNews
Unemployment is one of the consequences of the global crisis. In 30 percent of households in Tajikistan, only half of the household members, who are able ....
AidNews

The European Union is even seen as a waste of money by France ...
By THEUNHIVEDMIND
The poll findings reveal simmering tensions across all member states as the eurozone crisis takes i. Sunday March 18,2012. By Kirsty Buchanan. http://www.express.co.uk/posts/view/308852/Even-the-French-think-the-EU-is-a-waste-of-money ...

Greece's exit from the Eurozone would be all pain, no gain | vox ...
With Greece in deep recession for the fifth year running, several prominent observers have been calling on it to exit the Eurozone. This column argues this would ...
www.voxeu.org/index.php?q=node/7737

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