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

Thursday, March 22, 2012

Spain may be eurozone's next source of contagion

Spain may be euro zone's next source of contagion
Reuters
Investors seeking the high yields on offer in the euro zone periphery have since been ditching Spanish bonds for Italian, in a sign that the epicentre of the crisis is shifting. "The whole Spanish situation has just deteriorated so quickly.

FOCUS: Euro-Zone Outflows Encourage Euro Pessimists
Wall Street Journal
By Jessica Mead Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Currency strategists with a negative view of the euro smell blood after monthly data this week showed investment funds pouring out of the euro zone, but others are unconvinced that the exodus ...

Euro Crisis Spurs Corporate Execs To Look At Forex Risk: Poll
Wall Street Journal
By Chana R. Schoenberger Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Corporate executives are looking hard at the euro zone's crisis and its effects on their foreign-exchange risk, with 47% reporting they are assessing their exposure to the euro, ...

The end of the euro crisis?
Salon
The immediate risk of catastrophe has receded, but the euro zone is far from finding its way out of the woods — and the big bad wolf of currency collapse is still lurking among the trees. Behind the cautious optimism lie several worrisome ...

Eurozone crisis not over yet, says Merkel
AFP
BERLIN — German Chancellor Angela Merkel told MPs from her conservative party Wednesday that she believed the eurozone's sovereign debt crisis was "not over" and the current relative calm was merely a "phase". "Concerning the development of the crisis ...

AFP

Senior Healthcare and Financial Crisis Returns
U.S. News & World Report (blog)
You can almost hear the ideological wagons circling again in Washington these days. Those intense debates about government spending and the "big three" entitlement programs—Medicaid, Medicare, and Social Security—are heating up once more.

Bernanke warns of possible European 'contagion'
msnbc.com
By msnbc.com staff Weakness in the eurozone is beginning to have an impact on the US economy, according to Federal Reserve Chairman Ben Bernanke, who will warn legislators Wednesday of possible "contagion." “The difficulties in the euro area have ...

Eurozone crisis live: Bernanke and Geithner to talk about Europe
The Guardian (blog)
Traders said the pricing was good, particularly considering the sell-off in safe-haven government bonds last week when confidence in US growth improved and fears about the eurozone diminished. Reuters is also reporting that there was €12.9bn of demand ...

The Guardian (blog)

Bernanke Says Risk of European Contagion Still a Concern
Fox Business
Federal Reserve Chairman Ben Bernanke will warn Congress Wednesday that possible “contagion” from the European debt crisis for US banks and money market funds remains "a concern” for the Fed and other financial regulators despite firms' recent steps to ...

Europeans choose sides over financial crisis
Washington Post
Even as many European nations recoil from the obligations of economic union (because neither borrowers nor lenders are very happy these days), a radical cross-border European politics is being born. Ironically, the founding document of a genuinely ...

Budget speech 2012: Economy to grow but George Osborne warns of euro crisis threat
Daily Mail
But with the single currency still in crisis, the Office for Budget Responsibility, the Treasury watchdog Mr Osborne set up to stop Chancellors fiddling the figures, said it now expects the eurozone to shrink by 0.3 per cent this year.

Daily Mail

Financial crisis out of sight, but investors should keep it in mind
TheNewsTribune.com
With the three-year anniversary of the stock market's bottom during the 2008-09 financial crisispassing last week, fund firms can show off three-year track records that no longer include the 10-month nosedive that cut the market's value in half.

Germany Is the Big Engine That Can't
Wall Street Journal
By BRIAN BLACKSTONE By flooding European banks in recent months with cheap, three-year loans, the European Central Bank is credited with healing much of what ails the euro zone or for at least buying it time to address problems.

Wall Street Journal

UK economy steady 'but eurozone still a threat'
Public Finance
By Nick Mann | 21 March 2012 The Office for Budget Responsibility has revised its growth forecast for the UK this year up from 0.7% to 0.8%, but the eurozone remains a 'major risk' to its prospects, Chancellor George Osborne said today.

Greek state hospital doctors, staff on strike
Huffington Post
Health spending was affected by new cuts this year to ensure Greece can continue receiving rescue loans from other eurozone countries and the International Monetary Fund. Facing a mountainous debt and gaping budget deficit resulting from years of ...

Greek state budget deficit shrinks
Bismarck Tribune
Prime Minister Lucas Papademos' government is expected to call general elections for late April or early May after successfully negotiating a massive debt deal for additional rescue loans fromeurozone countries and the International Monetary Fund and ...

Budget 2012: 'eurozone still presents threat to UK economy', says Telegraph ...
Telegraph.co.uk
Following the Chancellor's Budget speech in the House of Commons, the Telegraph's Economics columnist Roger Bootle said that the "Eurozone still presents a huge threat" to the UK's economic outlook. He added that the Budget was "essentially irrelevant" ...

Euro contagion still a risk to US banks, Bernanke says
Fundweb
US financial institutions' exposure to Europe is still creating risk of contagion from the debt crisis, the chairman of the Federal Reserve says. Speaking before the US House of Representatives, Ben Bernanke highlighted the measures taken by the ...

Fundweb

5 Myths of the Post-Financial Crisis World
Morningstar.com
By Paul Kaplan | 03-21-12 | 06:00 AM | E-mail Article This is perhaps the biggest myth about the crisis. By definition, a black swan is an unprecedented major catastrophic event. However, there were many previous such crises whose long history ...

Was The Financial Crisis Caused By A Fictional Hooker-Loving Master Of The ...
DealBreaker
Next up among actors who think roles they portrayed on the big screen contributed to thefinancial crisis is Richard Gere. Glamorizing being a corporate raider who made enough money to buy a hooker is his personal cross to bear.

Denmark's GDP to grow above rest of eurozone in 2012: Central Bank
Equities.com
Denmark's central bank expects the country's gross domestic product (GDP) to grow 1.2 percent in 2012, a rate higher than that of the eurozone, it said in a report here Wednesday. Danmarks Nationalbank made the forecast in its quarterly report for the ...

US muni defaults another blow for insurers
Reuters
But defaults on insured bonds are putting pressure on these insurers, which never fully recovered from the last decade's financial crisis. The California cities of Stockton and Hercules, as well as Pennsylvania's capital, Harrisburg, have opted to ...

With Europe in crisis, Spain looks at India
TwoCircles.net
By IANS, New Delhi : With the eurozone crisis threatening the continent's economy and putting its own in a downswing, Spain is looking at India for some support and solutions. This was conveyed by Spanish Basque Country chief minister Francisco Javier ...

ECCP - Eurozone Debt Crisis Breakfast Forum
ScandAsia.com
The European Chamber of Commerce of the Philippines (ECCP) is pleased to invite you to a breakfast forum on the Eurozone Debt Crisis with our special guest speaker: Dr. Dan Steinbock, Research Director of International Business at the India, ...

ScandAsia.com

US Finance Leaders See Much Reduced Risk From Europe
New York Times
The two officials said that the euro zone fiscal compact struck in January and actions by the European Central Bank — particularly its long-term refinancing operations, which provide cheap financing to cash-starved banks — had helped ease distress ...

Germany to Balance Budget Early
Wall Street Journal
Not even Ć¢‚¬1 trillion ($1.32 trillion) in cold, hard cash can't cure the Euro-zone's most vexing issue: the economic divide between Germany and southern Europe. Brian Blackstone reports on Markets Hub. (Photo: REUTERS/Thierry Roge) "We are ...

ECB's Nowotny: euro zone north-south split to grow
Financial Mirror
The gap between northern and southern euro zone economies will continue to widen for another three years, European Central Bank policymaker Ewald Nowotny said on Tuesday, adding that rising oil prices were now the bloc's main inflationary threat.

A Eurozone Recovery Is In Sight
Seeking Alpha
This chart of US and Eurozone industrial production shows the huge divergence in economic activity that has opened up in the past several months between the US and Europe. From the looks of this chart, the Eurozone economy has probably been in the ...

Eurozone crisis “a once in a lifetime opportunity” - Qatar banker
ArabianBusiness.com
By Shane McGinley The crisis in the eurozone is “a once in a lifetime opportunity” for Gulf investors to snap up trophy assets for knockdown prices, a leading Qatari banker told Arabian Business. As the euro continued to dip and European stocks fell on ...

ArabianBusiness.com

SOARING EUROZONE GAS PRICES… | PRAGMATIC CAPITALISM
By Sober Look
As the Eurozone tries to cope with recession, the retail gasoline prices are adding insult to injury. The chart below shows the average gasoline price at the pump across Europe (in EUR/ 1000 Liters.) We are at a multi-year high with €1.63 per ...
PRAGMATIC CAPITALISM

ekathimerini.com | Escrow account gets first deposit
By By Sotiris Nikas
This was the bulk of the first installment of 5.9 billion euros from the eurozone's second package that was credited to Greece on Monday, with just 1 billion of that going into a Greek state account, held by the Bank of Greece, for the country's ...
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