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

Monday, April 16, 2012

Concerns Over Spain and Italy Show Europe's Problems Aren't Over

Concerns Over Spain and Italy Show Europe's Problems Aren't Over
New York Times
BRUSSELS — Is the euro crisis back with a vengeance, or do investors have a needless case of the jitters? Until very recently, the gloom over the Continent had seemed to be lifting, with the conclusion of Greece's second bailout and the calming effect ... 

Views under the Palm - johnmpoole.com: Spanish banks now "mainlining" ECB cash: "Spain is beyond "life support"--its banks are now "mainlining" ECB cash to stay alive-- . . . . First Greece, now Spain, coming soon Portugal and Italy. The "turmoil" continues-- the Eurocrisis is far from over--oh, and the French are about to throw out Sarkozy . . .  "

Euro zone looks to Washington
Reuters Blogs (blog)
But the deal may not be done in Washington and she emphasized that IMF resources would be devoted to protecting non-euro zone countries caught up in the turmoil. That may be the political message she needs to deliver to make headway.

Jitters Over Spain Could Punish Euro
Wall Street Journal
By JAVIER E. DAVID NEW YORK—The euro could falter this week if bond yields in Spain, theeuro-zone economy now occupying center stage in the region's debt saga, continue their upward march. Traders on Friday fled from Spain's stocks and government ...

Viva Espana? International investors not so sure
Huffington Post
The eurozone has recently increased the size of its financial firewall to help out its members should they fail to raise money from the markets. But Spain's (EURO)1.1 trillion ($1.45 trillion) economy is twice the size of the previous three bailout ...

Why a visit to the eurozone doctor won't relieve the pain in Spain
So much for the idea that the euro crisis is over! Last week it resurfaced again – with Spain now first in the firing line. How serious is the Spanish problem? What did for Spain was the mother and father of a boom in private spending and borrowing, ...


US earnings may lift mood, despite eurozone crisis
National Business Review
BUSINESSDESK: A big week of US first-quarter earnings might help lift the mood in coming days, though the euro zone's sovereign debt crisis is again front and centre on every investor's radar screen. The American first-quarter earnings season got off ...

Euro Area to Seek Bigger IMF War Chest as Spain Concerns Mount
“After three months that were calmer than expected, the euro crisis is back,” said Holger Schmieding, chief economist at Berenberg Bank in London. “The speed of the recent surge in yields has elements of a renewed market panic.


Fragile world, fractious leaders
A surge in Spain's 10-year bond yields last week to test the 6 percent level last reached at the height of the euro zone debt crisis in 2011 - a sign that investors are demanding higher returns to compensate for perceived risk - has underscored this ...

The 2012 Euro Crisis By Noela D'Souza
But the PIIGS, Portugal, Ireland, Italy, Greece and Spain needed bailouts. Markit's purchasing managers index for the EU, which measures business activity, fell to a three month low of 47.7% in March 2012. A figure below 50 indicates contraction.

IMF Plan To Raise New Funds Pushing Tensions To A Boil
Huffington Post
By Lesley Wroughton WASHINGTON, April 13 (Reuters) - Tensions among some of the world's leading economies are on a boil over a plan to raise new resources for the International Monetary Fund to contain the euro zone debt crisis and a quest by emerging ...

Fears for Spanish debt auctions
That was true until last week, when an auction of medium-term debt hit the bottom end of what Spain was expected to raise, sending yields up and pushing the country firmly back into the eurozone debt crisis. In reality, worries about Spain have always ...


Q&A: ECB Board Member Jörg Asmussen
Wall Street Journal
Do you feel comfortable telling policymakers outside of Europe that the worst of the debt crisis is over and that the euro zone is not a source of risk to the global economy? Asmussen: The worst of the crisis seems to be over, but the crisis of public ...

The single currency has arrived at a three-pronged fork in the road
The Guardian (blog)
The next 12 months will decide the fate of the eurozone. The problems of the single currency have not gone away and will again dominate this week's meeting of the International Monetary Fund in Washington. Every one of those in attendance knows that ...

The Guardian (blog)

Japan mulling '$60 bn contribution' to IMF
TOKYO — Japan is considering lending about $60 billion to the International Monetary Fund to help strengthen a global firewall against contagion from the European sovereign debt crisis, Kyodo news agency said on Sunday. Tokyo is talking with some ...


Dan White: The pain in Spain could be our gain
Irish Independent
JUST when it seemed that it was safe to go out again, it looks as if we are facing a new eurozone crisis. With polling day in the fiscal compact referendum just six weeks away, the rapidly worsening Spanish situation strengthens the Irish hand in ...

Troubled eurozone states most at risk from high oil price
Gulf Times
Oil prices at record levels in euro terms are threatening to rock the eurozone'seconomy more than might be expected, with those countries least capable of riding out a shock being the worst hit. Standard estimates of the impact of oil prices on the ...

Gulf Times

Spanish Government Bonds In The Crosshairs: The Sidelines Look Good
Seeking Alpha
Spain has once again brought the focus of the markets on the continuing eurozone crisis as yields continue to climb and Spanish ministers are calling for more bond purchases. A Spanish minister called on the European Central Bank to do more to stem the ...

Wave of changes must take place
Business Times - Malaysia
To countries like Malaysia, the International Monetary Fund (IMF) still stirs up such memories as the region fell victim to the massive financial crisis also known as Asian Contagion, leaving many scarred from the currency turmoil and capital flows.

Add to Anticrisis Funds, ECB Official Suggests
Wall Street Journal
Europe "has done its part" to help protect the global economy against financial turbulence, Mr. Asmussen said in an interview, pointing to European leaders' pledges to boost the euro zone'sbailout resources to around $1 trillion and to contribute an ...

Negative news from Eurozone jolts Forex markets - report
Kuwait News Agency
KUWAIT, April 15 (KUNA) -- The foreign exchange markets had mixed performances last week as negative news out of Europe resurfaced, alongside disappointing job market figures from the US, a specialized economic report showed Sunday.

A History Lesson for Treasury Bears
Wall Street Journal
Economic data from China, the world's second-largest economy, also raised uncertainty about that nation's economy, while stress has resurfaced in the euro zone, highlighted by a selloff in government bonds in Spain and Italy. The uncertainty is likely ...

Eurozone needs a growth strategy not more austerity – Roubini
ForexLive (blog)
By Gerry Davies || April 15, 2012 at 09:47 GMT Majimaji: Thnks you guys for the góod work.. I solely use this site when am trading most of the time. Guys that i... Asier: So is the baltic dry index. However, this recovery is based on spending.

Spanish king under fire over "irresponsible" hunting trip
By Julien Toyer | MADRID (Reuters) - Spain's King Juan Carlos I came under intense media fire on Sunday for hunting elephants in Botswana when his country was being sucked back into the euro zone's financial crisis and one young Spaniard out of two was ...

John Norris: We saw European debt crisis coming
Montgomery Advertiser
What of the contagion or domino effect? That is the real worry, but the same argument holds true. If European bank Y keeps Greek bonds on their balance sheet at the original cost, as opposed to actual market value, in the hopes of some kind of bailout, ...

Spain has accepted mission impossible
Financial Times
That, to me at least, is the key question facing eurozone policy makers. The ultimate outcome of the eurozone crisis will depend to a large extent on how that question is answered. News coverage seems to suggest that the markets are panicking about the ...

LTRO Effect Appears To Have Worn Off: The War For Spain
Seeking Alpha
But what that does is yield the unintended consequence of making a breakup of the eurozoneeasier, as it helps get Spanish and Italian debt off the books of German and French banks. The only reason Germany and France, et al., cared about Greece is that ...

Threadneedle's Weldon calls end of US financial crisis
Investment Week
It signifies the end of the financial crisis,” he added. The string of positive economic data that has emerged from the US this year has prompted a more bullish outlook for the region in general, said Weldon. He identified three key tailwinds to the US ...

Investment Week

Savers rush for gold as eurozone debt fears drive up price
This is Money
By Richard Dyson Renewed panic about debts in the eurozone has caused the price of gold to rise, triggering predictions that it will soon hit a record high. Gold trades today at just under $1700 (£1070) an ounce, down from a record $1900 last September ...

This is Money

Japan mulling $74.8b contribution to IMF: Report
TOKYO - Japan is considering lending about US$60 billion (S$74.8 billion) to the International Monetary Fund to help strengthen a global firewall against contagionfrom the European sovereign debt crisis, Kyodo news agency said Sunday.


Spain in recession
When these losses are realized Spanish banks will be in even worse shape andmay trigger a bailout. The deflationary pressures in Spain, Italy, Portugal, Greece and Ireland has led many to contemplate a break up of the Eurozone.

Alasdair Macleod: TARGETing problems in eurozone | Gold Anti ...
By cpowell
Alasdair Macleod: TARGETing problems in eurozone. Submitted by cpowell on Sun, 2012-04-15 14:48. Section: Daily Dispatches. 10:45a ET Sunday, April 15, 2012. Dear Friend of GATA and Gold: With his commentary at GoldMoney ...
Gold Anti-Trust Action Committee...

Brad DeLong: George Soros On The Eurozone Crisis
By J. Bradford DeLong
George Soros: >[Maastricht] failed to take into account the fallibility of the architects: there is neither an enforcement mechanism nor an exit mechanism… put[ting] the weaker members into the position of a third world country that became ...
Brad DeLong

Eurozone crisis roars back to savage Spain @ Forex Factory
By From telegraph.co.uk
Eurozone crisis roars back to savage Spain - 'Today the problem is solved," declared French President Nicolas Sarkozy just five weeks ago. "How happy I am a solution to the Greek crisis, which has weighed on the economic and financial ...
Forex Factory

Pension Pulse: Resurrecting Eurozone's Ailing Economy?
By Leo Kolivakis
He said that the rules of the eurozone need "radical revision" and suggested that all countries be able to refinance their existing debts at the same rate. He acknowleged that the Bundesbank would not accept his ideas but concluded: "The ...
Pension Pulse

TARGETing problems in eurozone » The Cobden Centre
By Alasdair Macleod
It seems that every time you turn over a stone on the rocky shore that is the financial condition of the Eurozone you find yet another nasty creature underneath. This time it is to be found across the accounts of the individual national central ...
The Cobden Centre

Irish Taxpayer Sacrificed to Prop Up Eurozone Banks German ECB ...
By Guido Fawkes
Irish Taxpayer Sacrificed to Prop Up Eurozone Banks German ECB Board Member Speaks Truth ECB Press Office Erases Remarks from Transcript. On Thursday Dublin hosted a speech by Jörg Asmussen, a member of the Executive Board of ...
Guy Fawkes' blog

The Eurozone at a Crossroads: Reflections from a European by ...
By thesingaporeglobalist
By thesingaporeglobalist ⋅ April 15, 2012 ⋅ Post a comment. Filed Under currency, economy,euro crisis, eurozone, money, union. Until the eurocrisis unfolded, I had absolutely no idea why the euro had been implemented in the first place.
The Singapore Globalist

Money illusion as a solution to the eurocrisis? | Protesilaos Stavrou
By Protesilaos Stavrou
Many neoclassical macroeconomists uphold that a higher inflation rate in the eurozone in the range of 5-6% constitutes a large part of the remedy to the ongoing crisis. It is those people who were happy with the LTRO among others, while they ...
Protesilaos Stavrou

ENDGAME: The End of the Debt Super Cycle | Financial Crisis
By Niki Nicastro McCuistion
ENDGAME: The End of the Debt Super Cycle and How it Changes Everything examines the effect and impact of the present financial crisis on the world and the USA economy and examine what may happen when all these countries can no ...
McCuistion TV

Increasingly in Europe, Suicides 'by Economic Crisis'
By The Huffington Post News Editors
Financial Crisis. On New Year's Eve, Antonio Tamiozzo, 53, hanged himself in the warehouse of his construction business near Vicenza, after several debtors did not pay what they owed him. On New Year's Eve, Antonio Tamiozzo, 53, hanged ...
The Full Feed from HuffingtonPost.com

Eurozone crisis roars back to savage Spain | RevolutionRadio.org
By Paul Martin
'Today the problem is solved,” declared French President Nicolas Sarkozy just five weeks ago. “How happy I am a solution to the Greek crisis, which has weighed on the economic and financial situation in Europe and the world for months, has ...

Spanish Bonds Decline for Second Week on Debt Contagion ...
Telegraph.co.uk Spanish Bonds Decline for Second Week on Debt Contagion Concern BusinessWeek By Lucy Meakin and Anchalee Worrachate on April 14, 2012 Spanish bonds fell for a second week on concern European Central Bank ...
Translations News

Nouriel Roubini Blog: Eurozone Periphery: The Credit Crunch Is ...
By Admin
The credit crunch in the eurozone periphery is intensifying: thanks to the ECB long-term cheap loans, banks there don't have a liquidity problem now, but they do have a massive capital shortage. - in Project Syndicate Related, iShares MSCI ...
Nouriel Roubini Blog

"Eurozone Chutzpah and the IMF" by Simon Tilford | Project Syndicate
European officials take it for granted that the IMF should support the eurozone, as if the rest of the world had some kind of duty to do so. It does not, and it should ...

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