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

Tuesday, April 3, 2012

Eurozone unemployment hits record high, fuels recession fears; Greek impasse with bondholders

Euro-zone unemployment hits record high, fuels recession fears
Washington Post
The euro-zone's unemployment rate surged to a record 10.8 percent, the highest since the euro currency was established in 1999, the Associated Press reports. According to official data from Eurostat, seven out of the 17 euro-zone countries have ...

Youth unemployment passes 50pc in Spain and Greece - Telegraph: "Youth unemployment now exceeds 50pc in both Spain and Greece as the number of people out of work in the eurozone as a whole hit a 15-year high of 17.2m."

Greek talks with international-law debt holders hit impasse - Telegraph: "Greece is at an impasse with holders of its bonds who were not locked in to the historic €206bn (£171bn) debt restructuring, highlighting the country's continued problems in cutting its debt load." 

Euro zone unemployment reaches near 15-year high
Reuters
Euro zone unemployment at 10.8 pct in February * EU Commission says data shows need for reform * Sharp divide between north and south By Robin Emmott BRUSSELS, April 2 (Reuters) - Unemployment in the euro zone reached its highest level in almost 15 ...

Euro-Zone Jobless Picture Darkens
Wall Street Journal (blog)
The continued rise in unemployment is likely to dampen consumer spending in coming months, and limit the euro-zone economy's ability to grow rapidly. The number of people without jobs rose by 162000 to stand at 17.134 million, the largest number since ...

Euro Zone Unemployment Climbs to Near 15-Year High
Fox Business
Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year. Joblessness in the 17-nation ...

Downturn in eurozone manufacturing gets worse
Kansas City Star
Eurostat, the European Union's statistics office, said unemployment in theeurozone rose to 10.8 percent in February from 10.7 percent the previous month. The number of unemployed totaled 17.1 million, nearly 1.5 million higher than the same month a ...

Kansas City Star

Euro zone manufacturing malaise spreads to core
Reuters
By Jonathan Cable | LONDON (Reuters) - The euro zone's manufacturing sector shrank for an eighth month and at a faster pace in March, adding to signs the bloc is in recession as the downturn spread to core members France and Germany, a survey showed on ...

US, Asia factories rev up while euro zone lags
Reuters
By Jonathan Cable and Jason Lange | LONDON/WASHINGTON (Reuters) - Manufacturing strengthened in the United States and China in March while the euro zone contracted for the eighth straight month, underlining the uneven pace of global economic growth.

Euro crisis not over
UPI.com
Once again, the nations of the Eurozone have met, agreed new funding and declared that with their new trillion-dollar firewall the euro crisis is resolved. And once again they are mistaken. By MARTIN WALKER, UPI Editor Emeritus WASHINGTON, ...

Grim Data Cast Cloud Over Euro Zone
Wall Street Journal
By PAUL HANNON and ALEX BRITTAIN LONDON—Dire figures on unemployment and manufacturing activity in the euro zone's weakest members on Monday highlighted the scale of the currency bloc's economic problems, just days after finance ministers boosted ...

GLOBAL ECONOMY-US, Asia factories rev up while euro zone lags
Reuters
US ISM index rises to 53.4 in March * Euro zone factory sector contracts for eighth straight month * Bloc's downturn has spread to the core * British factory PMI at 10-month high * China official manufacturing PMI at 11-month high By Jonathan Cable and ...

Eurozone unemployment hits record as debt crisis bites
AFP
BRUSSELS — Eurozone unemployment jumped to an all-time high in February, hitting southern nations the hardest as the social toll from the debt crisis grips the 17-nation bloc, official figures showed Monday. The jobless rate rose for the 10th ...

AFP

Austerity Is a Disaster: The Lesson of Europe's Record Unemployment
The Atlantic
By Matthew O'Brien Euro zone unemployment just hit a 15-year high. German unemployment just hit a 15-year low. What can those of us across the Atlantic glean from this seemingly bipolar state of affairs? That austerity, every economic conservative's ...

Downturn in eurozone manufacturing gets worse
San Francisco Chronicle
Markit said the eurozone's two powerhouse economies, Germany and France, saw activity levels deteriorate. France, in particular, fared worse with activity at a 33-month low of 46.7. Only Austria and Ireland saw output increase during the month.

Eurozone Unemployment At Record High
NASDAQ
(RTTNews.com) - Eurozone unemployment rate rose to a record high in February, reflecting increasing divergences between countries. The seasonally adjusted jobless rate rose to 10.8 percent, the highest since 1997, from 10.7 percent in January, ...

US economy contrasts with eurozone
Financial Times
Manufacturing activity in the US is picking up as its domestic economy recovers, underlining the diverging fates of the world's biggest economy and the eurozone. UK manufacturers, however, surprised economists by expanding a little quicker in March ...

Euro zone unemployment rises to record 10.8 percent
GlobalPost
(Dani Pozo /AFP/Getty Images) Unemployment in the euro zone rose to an all-time high of 10.8 percent in February, following 10 consecutive months of increases that have taken the largest toll on the currency bloc's most heavily indebted southern ...

Euro-zone unemployment rate hits 10.8%: Eurostat
MarketWatch
By Kim Hjelmgaard LONDON (MarketWatch) -- The unemployment rate in the 17-nation euro zone increased to 10.8% in February, on a seasonally-adjusted basis, compared to 10% in February last year, according to Eurostat, the statistical office of the ...

Eurozone jobless rate rises for 10th month
Financial Times
By Ralph Atkins in Frankfurt Eurozone unemployment has risen for a 10th consecutive month to reach a new euro-era high, with the pace of increase showing little sign of slowing as the region struggles to return to growth.

Financial Times

Detroit financial crisis: City comes down to the wire on consent deal with state
Detroit Free Press
By Paul Egan and Dawson Bell Time is rapidly running out for Detroit to reach an agreement with the state that will avert the appointment of an emergency manager, a spokeswoman for Gov. Rick Snyder said Sunday. The Detroit City Council is to meet today ...

Euro-zone composite PMI confirms March downturn
MarketWatch
By Barbara Kollmeyer MADRID (MarketWatch) -- The downturn for manufacturing activity in the 17-nation euro zone worsened in March, according to the final Markit Eurozone Manufacturing Purchasing Managers Index. The final manufacturing PMI dropped to a ...

Eurozone Unemployment Rate Hits 14-year High Amid Faltering Growth
International Business Times
By Shankar besta: Subscribe to Shankar's RSS feed The unemployment rate in theeurozone increased to its highest level in 14 years in February, as the region's faltering economic growth left more than 17 million people jobless in the month.

International Business Times

In Europe, Unemployment Up, Manufacturing Down
Voice of America
The European Union reported Monday that the jobless rate in the 17-nation eurozone edged higher in February to 10.8 percent. The new figure was the highest point since the currency was introduced in 1999. The EU said nearly a quarter of Spanish workers ...

Eurozone unemployment reached highest level in almost 15 years in February
Montreal Gazette
BRUSSELS – Unemployment in the eurozone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year.

Eurozone unemployment rate rises in February
BBC News
"Eurozone manufacturers suffered a miserable March, with a renewed downturn in production wiping out marginal gains seen in the first two months of the year," said Markit chief economist Chris Williamson. "Manufacturing is therefore likely to have...

BBC News

A look at the unemployment rates in the eurozone
CBS News
Eurostat, the EU's statistics office, estimates that unemployment across the 17-countryeurozone rose to 10.8 percent in February, a new record since the euro launched in 1999. Here's how the countries compare: Spain 23.6 percent Greece 21.0 percent+ ...

Eurozone Struggles Continue with Debt and Unemployment
ValueWalk
By Matt Rego Unemployment in Europe has climbed to an all time high in February; hitting the southern half of the continent the hardest. Unfortunately, this is the tenth consecutive month of a jobless increase to where it currently sits at 10.8% ...

Eurozone unemployment hits record high amid budget cuts
Monsters and Critics.com
By Andrew McCathie Apr 2, 2012, 10:50 GMT Berlin - Unemployment in the eurozone rose for the 10th consecutive month in February to hit a record high as the numbers out of work surged in nations at the centre of the region's debt crisis, data released ...

Eurozone unemployment hits record 10.8%
Bangkok Post
The eurozone unemployment rate hit a 15-year record high of 10.8 percent in February, up from 10.7 percent the previous month, official figures showed on Monday. People walk towards a job center in Potsdam near Berlin, 2009. The eurozone unemployment ...

Eurozone unemployment hits all-time high
Aljazeera.com
At least 17 million people are jobless across 17-nation eurozone, the highest level since euro was introduced in 1999. Unemployment across the 17-nation eurozonehit a record high of 10.8 per cent in February, up from 10.7 per cent the previous month, ...

Aljazeera.com

PMI mixed bag: China up, eurozone upsets — RT
By RT
The Purchasing Managers Indices around the globe show a mixed picture on global manufacturing activity. With euro zone results significantly down, and a mixed outlook for China and the UK investors are puzzled.
News RSS : Today

Prison Planet.com » Eurozone unemployment hits 15-year high
By admin
Michael Millar Sharecast April 2, 2012. Unemployment across the countries that use the euro hit a 15-year high of 10.8 per cent in February. Figures from the European Commission's official statistics agency, eurostat, showed unemployment ...
Prison Planet.com

This week in the euro zone | MacroScope
By Mike Peacock
A new quarter dawns and although a holiday-shortened week isn't likely to see dramatic investment decisions taken, the burning question is whether the strong ECB-fuelled rallies of the first three months of the year can continue.
MacroScope

Unemployment in the Eurozone, February 2012 « Real-World ...
By merijnknibbe
Unemployment in Spain – the country with the highest unemployment of the entire Eurozone – continues to rise. The increase has even picked up speed… but unemployment in Greece is increasing even faster. What a waste. And no recovery ...
Real-World Economics Review Blog

The Eurozone has failed – time for an orderly retreat | Bill Mitchell ...
By bill
While the counter-factual (whether Germany and the Netherlands, two of the Eurozone“powerhouses” would have grown faster without the Euro) is difficult to be conclusive about, the fact that two non-Euro, EU nations and the big two ...
Bill Mitchell - billy blog

Euro Drops on Speculation that Eurozone Economy is in Recession ...
By MMarquit
Euro is lower today, dropping as speculation arises regarding the eurozone economy, and the possibility of recession. Manufacturing in the 17-nation currency zone has contracted for the eighth month in a row, and unemployment is at a level ...
Forex News

Euro zone should beware the “F” word | Hugo Dixon
By Hugo Dixon
Political leaders and the ECB have bought the time needed to resolve the euro crisis. But there are signs of fatigue. A renewed sense of danger may be needed to spur policymakers to address the region's underlying problems. It would be ...
Hugo Dixon

Detroit's financial crisis: Keep focus on city's people — not politics ...
By Mildred Gaddis
The city is running out of money because it spends far more than it collects in revenue, and it owes 33 times the net value of all its assets. And the city is running out of time, because the clock runs out on the state's financial review on Thursday.
WCHB-AM: NewsTalk 1200

Eurozone unemployment up at 10.8% in February; highest since ...
Eurozone unemployment up at 10.8% in February; highest since euro introduced in 1999 - @AP.
Breaking news - www.breakingnews.com

Over There: Unemployment rate at new high in Euro Zone
By CalculatedRisk
Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, according to figures released Monday. Joblessness in the 17-nation currency zone rose to 10.8 percent, ...
Calculated Risk

Eurozone unemployment hits record 10.8 percent in February | AAJ ...
By Humair Rana
The eurozone unemployment rate hit a 15-year record high of 10.8 percent in February, up from 10.7 percent the previous month, official figures showed on Monday. The Eurostat data agency estimated that more than 17.1 million men and ...
AAJ News

Ifo's Sinn Sees No End To Eurozone Debt Crisis: Press | ForexLive
By Market News International
BERLIN (MNI) - The head of Germany's Ifo economic research institute, Hans-Werner Sinn, sees no end to the Eurozone's sovereign debt crisis.
ForexLive

Eurozone unemployment rate rises in February
By sferguson
Eurozone unemployment rate rises in February. BBC. Unemployment across countries that use the euro edged higher in February to 10.8%. That's up from 10.7% in January and the highest level since the introduction of the single currency in ...

Euro-zone unemployment rate hits 10.8%: Eurostat - MarketWatch
LONDON (MarketWatch) -- The unemployment rate in the 17-nation euro zone increased to 10.8% in February, on a seasonally-adjusted basis, compared to ...
www.marketwatch.com/.../euro-zone-unemployment-rate-hits-...

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

johnyah