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

Saturday, April 7, 2012

Eurozone: Time to Panic Again

Eurozone: Time to Panic Again
Slate Magazine (blog)
In my latest column I note that Eurozone panic is back. The really bad news is that we aren't making any progress. The last time we patched things up a bit and kicked the can down the road, which did in fact succeed in buying several months' worth of ...

Eurozone crisis looms over French election
Financial Times
By Hugh Carnegy in Paris The spectre of the eurozone crisis has returned to haunt France's presidential election, with President Nicolas Sarkozy using the launch of his campaign manifesto to accuse Fran├žois Hollande, his Socialist rival, of threatening ...

Too Slowly, Euro Zone Laggards Start to Shape Up
CNBC.com
It may be cold comfort for countries on the euro zone's southern periphery mired in recession, but they are making clear strides by some measures towards putting their economies on a sounder long-term footing. All three countries have embarked on ...

CNBC.com

Battered Spain feeling euro crisis heat
Sydney Morning Herald
Worries about Spain's perilous economic outlook and the threat it poses to its fragile eurozoneneighbours intensified this week as investors dumped the euro and riskier government bonds ahead of the holiday weekend. A poorly received Spanish bond ...

GLOBAL MARKETS-Euro dips, bonds rise on euro zone worries
Reuters
"The euro zone firewall set up is not big enough to save Spain," said Dan Dorrow, director of research at Faros Trading in Stamford, Connecticut."If the ECB were the Fed right now they would be embarking on quantitative easing or lowering rates, ...

Eurozone Worries Resurface, But Are Probably Not Significant
Seeking Alpha
The outlook for the Eurozone has improved dramatically since late November, when Spanish and Italian 2-year yields hit levels which suggested a serious risk of default (see chart above). But over the past month, Spanish yields are up some 80 bps and ...

The next financial crisis
StandardNet
By An Editorial Back in 1965, in the days of the Great Society, when all things seemed possible with enough federal money, the government began underwriting student loans. On paper, it was -- and, when properly overseen, still is -- a good idea: ...

South Korea Won Down Late On Euro-Zone Concerns; Eyes On US Jobs Data
Wall Street Journal
SEOUL (Dow Jones)--The South Korean won was lower against the US dollar late Friday as concerns about euro-zone sovereign debt risks persisted. The weak euro and high government bond yields in Spain and some other European countries kept investors wary ...

AXA's Dominique Senequier: What's Next for the Eurozone
Knowledge@Wharton
Greece is a very small economy in the eurozone; it is only 2% of the eurozone. It's a $300 billion economy, which is rather small. It is clear that people have already written down the debts of Greece maybe by 80% to 85% or more.

Knowledge@Wharton

Futures down on eurozone worry
Pakistan Daily Times
NEW YORK: US stock index futures fell on Thursday as a rise in Spanish bond yields renewed concerns about the eurozone's financial health, and as investors awaited report on US jobless claims. Concerns mounted about Spain and its ability to meet budget ...

Rambo Amadeus's Euro Neuro: Eurovision Takes on the Eurozone
TIME (blog)
On March 30, euro-zone finance ministers announced they would contribute an additional $670 billion to the financial firewall meant to prop up countries facing debt problems. Amadeus will sing to that. “Euro Neuro, Euro Neuro/ Monetary break dance/ ...

TIME (blog)

Treasuries Rise 2nd Day on Speculation Euro Crisis Is Worsening
San Francisco Chronicle
April 5 (Bloomberg) -- Treasuries advanced for a second day as speculation the euro region's sovereign-debt crisis is worsening spurred demand for the safest assets. Ten-year yields posted the biggest two-day drop since January as borrowing costs rose ...

TSX Ends At 3-Month Low As Eurozone Worries Return - Canadian Commentary
NASDAQ
(RTTNews.com) - Canadian stocks settled lower for a third day at a three-month low Thursday, as investor concerns over the eurozone debt problems far outweighed some positive economic data from the US, China, and Canada.

Greece prepares for fresh wave of anti-austerity protests after pensioner's ...
Daily Mail
The Greek government is facing almost daily protests against its stringent austerity plans, put in place after the financial crisis put the country in danger of not being able to pay off its huge debts and being ejected from the euro.

Daily Mail

Should we change the way we teach economics?
Christian Science Monitor
Because of the recent financial crisis, teaching the basic principles of economics is harder than ever. By Mark Brandly, Guest blogger / April 6, 2012 A worker counts US dollar bills at a money changer in Manila in this file photo.

Christian Science Monitor

Here's Another SEC Regulation that Helped Cause the Financial Crisis
CNBC.com
A lot of people—including the government's Financial Crisis Inquiry Commission—tend to view the financial crisis as a result of a failure of capitalism or a result of deregulation. There's some truth to this. But the role that regulatory constraints ...

CNBC.com

Rehn: euro area must be stronger before expansion - report
Reuters India
| HELSINKI (Reuters) - European decision makers need to be cautious and the euro zonestrengthened before the area using the euro can be expanded, so as to avoid economic crises in the future, European Economic and Monetary Affairs Commissioner Olli ...

Rupee may weaken to 53 per dollar on Eurozone worries: India Forex
Economic Times
The Indian Rupee continues to remain volatile inspite of steps taken by the Reserve Bank of India (RBI) to contain it since the beginning of 2012. The surge in the rupee has primarily been on the back of 'hot money' pouring in as a result of easing ...

OECD reports global financial crisis takes bite out of global aid
China Post
PARIS -- Spending on foreign aid by the world's major donors fell for the first time since 1997, the OECD said on Wednesday, as developed economies tightened budgets in the wake of the global financial crisis. The Organization for Economic Co-operation ...

EURUSD: S&P Releases Eurozone Economic Forecast
«Market Leader» - news and previews making you rich.
According to S&P's forecast for the eurozone economy, the current economic instability in the region will last till Q3 2012. The eurozone economy will start recovering in late 2012. The economies of Germany, France and other keyeurozone members will ...

«Market Leader» - news and previews making you rich.

Spain is the real test for euro zone
TODAYonline
by Bloomberg editorial The decisive test of the euro area's plans for economic recovery was never Greece but Spain and the European Union (EU) shows every sign of failing it. The Spanish government's new austerity plan hasn't won investor confidence ...

What Will Be Next Step If Any In Current Eurozone Crisis? – OpEd
Eurasia Review
By Kubra Turk Christopher Alessi indicates that in the long path of European integration, theeurozone as a crowning achievement has been buffeted by a sovereign debt crisis of nations whose membership in the currency union has been poorly addressed in ...

Golden rules for the eurozone
China Daily
Since the 2008 financial crisis erupted, there has been something of a renationalization of financial behavior in Europe. Up to the late 1990's and the advent of monetary union, most European Union sovereign debt was domestically held: in 1998, ...

Spanish minister says hike in bond rates due to EU growth doubts, rules out ...
Greenfield Daily Reporter
AP MADRID — Spain's economy minister says the jump in interest rates demanded for Spanish and other eurozone bonds is due largely to market nervousness over economic growth in Europe. Luis de Guindos told Spanish National Radio the release of poor ...

Markets: Eurozone fears add to UK's troubles
Scotsman
By PETER RANSCOMBE FRESH worries about the eurozone debt crisis and fears over the strength of the UK's economic recovery meant the Footsie struggled to make significant gains yesterday. A shock fall in UK manufacturing output for February flew in the ...

After the global financial crisis, why are rating agencies still trusted?
thejournal.ie
A US congressional committee later found that Moody's and S&P inflated the credit ratings of such products prior to the financial crisis. Why such ratings were given to products that later transpired to be less than creditworthy is the subject of much ...

Fiscal devaluation as a cure for Eurozone ills – Could it work? | vox ...
Troubled Eurozone countries face the difficult challenge of regaining competitiveness without devaluing their currency. Could a fiscal devaluation, shifting taxes from employers to consumers, help? This column presents evidence suggesting ...
VoxEU.org: Recent Articles

Cause of 2008 Financial Crisis Remains Lost on Corporate ...
By RogerShuler
John Allison, former CEO of BB&T Corp., told the Birmingham Kiwanis Club that banks were not the primary culprits in the financial crisis. Instead, he placed the blame almost entirely on the federal government, drawing a round of ...
RogerShuler's myFDL diary

Calafia Beach Pundit: Eurozone worries resurface, but are probably ...
By Scott Grannis
The outlook for the Eurozone has improved dramatically since late November, when Spanish and Italian 2-yr yields hit levels which suggested a serious risk of default (see chart above). But over the past month, Spanish yields are up some 80 ...
Calafia Beach Pundit

Fuel Fix » Eurozone crisis looms over French election
By FT.com - Energy
President Nicolas Sarkozy has used the launch of his campaign manifesto to accuse his Socialist rival of threatening the country with the fate of Greece or Spain. Read more from Financial Times ...
Fuel Fix

XE.com - Euro zone inflationary pressures edge up -ECRI
Inflationary pressures in the euro zone edged up in February, pushed up by increases in Germany, Italy and Spain, according to an indicator designed to predict inflation trends.
XE Forex News

Roubini: Portugal Will Leave the Euro Zone
By Robert Wenzel
the man is tied in, so you can dismiss his comments, although it does look like the ECB will continue to prop up all the PIIGS at this stage to prevent a crack-up of the EZ. Posted by Robert Wenzel at 12:55 PM · Email ThisBlogThis!Share to ...
EconomicPolicyJournal.com

 Financial Crisis: Chairman Bernanke's ...
By fulltextreports
In March 2012, Chairman Ben S. Bernanke will deliver a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series begins with a lecture on the origins and missions of central banks, followed by ...
Full Text Reports...

The euro crisis: Europe's half-depression | The Economist
While peripheral euro-zone economies are contracting, it will be very difficult to hit deficit targets. If the result of disappointing fiscal performance is pressure for ...
www.economist.com/blogs/freeexchange/2012/.../euro-crisis?...

"Golden Rules for the Eurozone" by Harold James | Project Syndicate
The European Monetary Union, as many of its critics maintain, looks a lot like the pre-1913 gold standard, which imposed fixed exchange rates on extremely ...
www.project-syndicate.org/.../golden-rules-for-the-eurozone

OECD: Euro Zone Lagging - CNBC
The OECD warns the euro zone nations are falling behind the U.S. and Canada as a fragile ...
video.cnbc.com/gallery/?video=3000081192

Real-time forecasting for the Eurozone | vox - Research-based ...
This column develops an early warning system to capture the trembling of the Eurozoneeconomy before anyone else notices it, as seismologists do with ...
www.voxeu.org/index.php?q=node/7829

Flint's financial crisis: Emergency manager backs off budget deadline to ...
MLive.com
By Kristin Longley | klongley1@mlive.com FLINT, MI -- Flint emergency manager Michael Brown has eased off his self-imposed deadline for a plan to turn around the cash-strapped city's finances, despite a state-declared "financial emergency.

MLive.com

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