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

Monday, April 30, 2012

Cameron says euro zone crisis far from over--Thousands protest health, education cuts in Spain

Thousands protest health, education cuts in Spain
Seattle Post Intelligencer
With unemployment at 24.4 percent - a Eurozone high - and more than half of Spaniards under 25 years old jobless, Prime Minister Mariano Rajoy's conservative government has introduced stinging austerity measures in its first five months in office.

Cameron says euro zone crisis far from over
Reuters UK
LONDON (Reuters) - Prime Minister David Cameron said the euro zone debt crisis was less than halfway through, and raised doubts about the future of the single currency in an interview on Sunday. Cameron said the euro zone crisis was partly to blame for ...

David Cameron blames UK double-dip recession on eurozone
The Guardian
David Cameron on Sunday held out the prospect of the UK economy being dragged down for years, as he predicted the euro crisis was "nowhere near half complete" and warned the single currency may yet break up. He also admitted efforts to move the UK ...

The Guardian

Eurozone: There Might Not Actually Be a Solution To The Euro Crisis - Forbes: " . . . If we use the US as an example of the size of the transfers necessary then we find that the EU simply cannot do this. Not at the required size: for government is already too large to make it possible to collect the necessary taxes. Thus there is no solution to the euro problem. Or to be more accurate, there is no managed solution: the best that can be hoped for is break up and starting again, however messy and painful that would be while it was actually happening."

Cameron warns over Eurozone crisis
The Press Association
David Cameron has warned the eurozone's debt crisis is not even halfway through as he blamed the continent for Britain's double-dip recession. The Prime Minister said economies struggling across the channel, which receive 40% of all UK exports, ...

Tens of thousands of Spaniards protest government health care and education ...
Washington Post
Unemployment is at a eurozone high of 24.4 percent, more than half of Spaniards under 25 years old are jobless, and Prime Minister Mariano Rajoy's conservative government has introduced stinging austerity measures in its first five months in office.

Keys for the Euro: ECB, Elections, Economics
Wall Street Journal
The ECB's monthly policy briefing takes place Thursday, and while no interest-rate change is expected, ECB President Mario Draghi's news conference will be scrutinized for indications of fresh stimulus as parts of the euro zone dip back into recession.

David Cameron warns European debt crisis is far from over
The Guardian
David Cameron has warned that the eurozone debt crisis is not "anywhere near halfway" to being resolved, and blamed it for Britain's double-dip recession. The prime minister said on BBC1's Andrew Marr Show that he would "strain every sinew" and ...

The Guardian

Eurozone's fiscal tightening may hamper growth
Milwaukee Journal Sentinel
During the interminably long eurozone financial crisis, it's been Germany that's had the money. And not surprisingly, German Chancellor Angela Merkel has been able to exert her budget-cutting will upon eurozone members. But Germany may soon be forced ...

A job description for Frankfurt
Financial Times
It is a question that should be taken seriously throughout the eurozone. This newspaper is a firm supporter of central bank independence. Since independent central banks became the norm in most countries in the 1990s, most have impeccably pursued the ...

UK PM: Will Redouble Efforts To Make Economic Policies Deliver
Wall Street Journal
But in pessimistic comments about the woes in its main trading partner, Cameron said the euro zone was not even half-way through its economic crisis. "I think it is going to be a very long and painful process in the euro zone as they work out, ...

Eurozone woes keep everyone guessing over gold
New Zealand Herald
"It's very much wait and see while the Eurozone is sorting itself out. The Federal Reserve is saying they're still willing to buy a lot of bonds. "As a result you get that big long queue of people waiting for something to happen, which means in the ...

ECB set to up the ante as eurozone fiscal compact cracks
The ECB has been quick to take on a fire-fighting role from the very beginning of theeurozone sovereign debt crisis. (File photo) By AFP The European Central Bank looks set to dig its heels in this week and refuse any more easy money for governments ...


Spain's Bond Auctions Likely to Test Investor Sentiment on Euro Zone
Jakarta Globe
Caught in a vice between sluggish global growth and worldwide debt de-leveraging, investors face another week of potentially gloomy economic news with no relief in sight from the growing concerns about euro zone debt. The focus will be mainly on the ...

Jakarta Globe

Warning: Euro Crisis No Longer Financial - Now It's Political, As Well
Seeking Alpha
The logic underlying this belief is that by enacting steep austerity measures and raising imposing "Firewall Funds" that enough time will be bought until eurozone nations work through their individual recessions and return to a growth mode.

Spaniards Take to Streets to Protest Budget Cuts
The protests, which were peaceful, were mirrored in over 50 cities across the country as Spaniards grow weary of austerity measures and years of hardship triggered by a real estate crash in the wake of the global financial crisis in 2008.


Brave but bloated
Financial Times
But the operation, which took its balance sheet above a towering €3tn, almost a third of eurozone gross domestic product, has since been credited with saving theeurozone from early meltdown. In August 2007, with a balance sheet of less than half that ...

Financial Times

Pondy govt responsible for financial crisis: Narayanasamy
"The whole government machinery has come to a standstill with financial crisis deepening fast as a result of poor planning, increased tax evasion and lack of action to spend the funds provided by the Centre," he told reporters here.

Goldman's Jim O'Neill approached for BoE job: paper
Orlando Sentinel
The ultimate decision on who will replace King to help guide Britain's $2.5 trillion economy, which has fallen into its second recession since the financial crisis, lies with Osborne and Prime Minister David Cameron. "The Governor still has a quarter ...

Leading article: Only part of the way to resolving the euro crisis
The Independent
Storm clouds are once again massing over the eurozone, and this time the problems are political. Europe's febrile bond markets have been calmer in recent months, thanks to the agreement of a "fiscal pact" requiring governments to limit their debts.

Five world markets themes in the coming week
But while the US central bank is now more upbeat about the outlook for the labor market than it was in January, the ECB has fewer reasons to grow more optimistic if the recent run of euro zone and national economic data is anything to go by.

EuroSpeak for "Starve the Beast" The Meaning of “Austerity Measures”
The Market Oracle
The eurozone is slipping into a recession that could have been avoided. Had policymakers provided fiscal support for stricken countries in the South and guarantees on their government bonds, (as the USG does for US Treasuries) then their economies ...

Sunday Times Rich List: Britain's Richest Get Richer Despite Eurozone Crisis ...
International Business Times
By Sreeja VN: Subscribe to Sreeja's RSS feed Europe's plundering financial crisishas hardly impacted the UK's richest, according to the Annual Sunday Times Rich List. The list reveals that Briton's richest has got richer despite the economic crisis...

International Business Times

Watch euro zone from the sidelines
Hong Kong Standard
Why not take a break this week to watch developments in the euro zone? Dr Check and/or The Standard bear no responsibility for any investment decision made based on the views expressed in this column.

Might want to delay investing in Europe
Florida Today
Spain's economic problems were put in sharp relief as official figures from the National Statistics Institute showed that unemployment has spiked to 24.4 percent in the first quarter of 2012, the highest rate in the 17-country eurozone, from 22.9 ...

Cameron's Euro line
When Andrew Marr asked him if he thought we were halfway through the Euro crisis or nearing the end of it, Cameron replied: 'I don't think we're anywhere near half way through it.' Cameron clearly does not believe that any resolution to the crisis is ...


By Nick Ferrari IN YEARS past only dictators or marauding warlords could deliver the kind of chaos and heartache we are currently witnessing across Europe, and even they did not have the damned cheek to ask for extra money to pay for it.

SANDERS: The cost of a collapsing Europe
Washington Times
But certainly it indicates that the euro crisis is still very much with us - and deepening. Political developments further diminish chances for a settlement - if attainable at all - without a breakup, perhaps of the European Union itself and not just ...

Washington Times

The Meaning of "Austerity Measures" -- EuroSpeak for "Starve the Beast"
By Mike Whitney (about the author) The eurozone is slipping into a recession that could have been avoided. Had policymakers provided fiscal support for stricken countries in the South and guarantees on their government bonds, (as the USG does for US ...

Ankara blames eurozone crisis for weak economy
New Europe
Turkey's Economic Minister Zafer Caglayan recently criticised European leaders for their failure to resolve the eurozone sovereign debt crisis, saying their failure has yield negative repercussions on Ankara's growth, news agencies reported.

New Europe

Cyprus replaces bank head amid crisis
Financial Times
By Kerin Hope in Athens and Ralph Atkins in Frankfurt Cyprus has replaced its internationally respected central bank governor amid a deepening banking crisis that could make the island the next eurozone member-state to seek a bail-out from its European ...

KU hosts lecture on global financial crisis
Srinagar, Apr 29: The Department of Central Asian Studies Saturday organized a lecture on 'Global Financial Crisis and its Impact on Indian Economy' at Kashmir University today.Prof and economist Naseer Ahmad Khan from the School of Economics, ...


Crisis-hit Spaniards march for change
Morning Star Online
Communist Party-backed United Left leader Cayo Lara addressed a big rally in Madrid where he said protesters believed the right-wing government was trying to use the financial crisis to force through its long-term goals of selling-off essential ...

Health and education cuts prompt protests across Spain
Also facing Spain's record unemployment levels, Prime Minister Mariano Rajoy's Conservative government is trying to reduce public spending by 10 billion euros a year and stop Spain becoming the next epicentre of the euro zone crisis.


Hollande's 'Growth Bloc' spells end of German hegemony in Europe
Photo: REUTERS/Petr Josek By Ambrose Evans-Pritchard The French-led counter-attack and rumblings of revolt through every branch of the EU institutions last week have brought this aberrant phase of the eurozone crisis to an abrupt end.


European Reality Check
Gold Seek
PIIGS = Portugal, Italy, Ireland, Greece and Spain. PIIGSBF = PIIGS plus Belgium and France. The third reality check is to accept that the EU countries in the PIIGS group will never repay their international debts. Despite protestations to the contrary ...

MoreLiver's Daily: 29th Apr - Weekender: Euro Crisis
By MoreLiver
It seems to me that the market bias to buying EUR in periods of risk appetite can easily disappear if it looks as if European policymakers have lost control over the euro crisis. I would stress that recent experience suggests that investors do not ...
MoreLiver's Daily

ECB set to up the ante as eurozone fiscal compact cracks ...
By SImon Morgan, Agence France-Presse
The European Central Bank looks set to dig its heels in this week and refuse any more easy money for governments as the political resolve to rein in deficits shows signs of crumbling, analysts say.

"We're not even halfway through the Eurozone crisis" warns ...
"We're not even halfway through the Eurozone crisis" warns Cameron #marr.
Breaking news - www.breakingnews.com

EuroWatch: Another government falls, more | eats shoots 'n leaves
By richardbrenneman
“I think it's going to be a very long and painful process in the eurozone as they work out do they want a single currency with a single economic policy and all the things that go with it or are they going to have something quite different.
eats shoots 'n leaves

Warning: Euro Crisis No Longer Financial - Now It's Political, As Well ...
By marketmaker
By Richard Bailey:Conventional wisdom is always right… right up to the moment it is proven wrong. The prevailing conventional wisdom of policy makers and the business media has been that the debt crisis in Europe is very serious but is ...
Bullfax.com - Market News & Analysis

Sober Look: In in Portugal the problem is the supply of credit, not the ...
By Walter Kurtz
In certain Eurozone nations demand for credit, particularly from small and medium size enterprises still exists. This demand is not always about expansion. Many of these businesses rely on credit to finance inventories, meet payroll, etc.
Sober Look

Mish's Global Economic Trend Analysis: Eurozone Retail Sales ...
Mish's financial blog covers global news and macroeconomic events regarding the world economy. The blog's primary focus is inflation, deflation, and ...

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