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

Friday, April 13, 2012

Soros: Euro Crisis Is Lethal, A Break Up Is Possible

Soros: Euro Crisis Is Lethal, A Break Up Is Possible
Forbes
Billionaire investor George Soros is very worried about the Euro Zone, and he's asking leaders there to take radical action before it's too late. It was just over a month ago that the European Central Bank eased the fears of investors around the globe ...

Forbes

Europe now sees its financial crisis never really went away
Washington Post
Read more on this issue: Charles Lane: The man who predicted the European debt crisis The Post's View: Europe's day of fiscal reckoning is at hand Harold Meyerson: Europeans choose sides over financial crisis Jim Hoagland: We are all Greeks now.

Lower euro-zone yields, China GDP view lift Wall Street
Reuters
By Angela Moon | NEW YORK (Reuters) - US stocks rose more than 1 percent on Thursday as lower Italian bond yields eased some euro-zone concerns and rumors about China's strong GDP growth bolstered investors' appetite for risk.

The Unsolved Euro Crisis
Business Insider
The Euro crisis is not “solved.” Not by a long shot. Yet Bloomberg reports this morning (i,e, March 2nd) that European leaders “declared a turning point in the Greece-fueled debt crisis.” The next project for the busybodies: a commitment to a ...

Euro-Zone Data Point to Recession
Wall Street Journal
By ILONA BILLINGTON LONDON—Industrial production in the euro zone slumped in February by the largest amount in more than two years, Eurostat reported Thursday, adding to evidence that the common-currency bloc is in an economic recession.

Reawakening of eurozone crisis fuels concerns
CNN
By Richard Milne, FT.com Markets showed they were unimpressed by recent pronouncements by European politicians that the worst was over by pushing Spain and Italy's borrowing costs towards levels that prompted bailouts for other peripheral eurozone ...

US STOCKS-Lower euro-zone yields, China GDP view lift Wall St
Reuters
Benchmark bond yields in Italy and Spain dropped following solid demand at this week's Italian debt auctions, while the euro hit a one-week high against the US dollar, indicating a reduction in near-term concern about the euro zone's debt troubles.

Eurozone 'fix' may be a time bomb
Sydney Morning Herald
''This is turning into a disaster for the eurozone periphery now that the liquidity tap has been turned off. But given the opposition in Germany, the ECB can't easily do another LTRO until there is a major crisis.'' Spanish banks bought €67 billion of ...

Sydney Morning Herald

US prime money funds cut euro zone debt in March
Reuters
Funds reduce euro zone debt after two months of increases * Funds pare overall global bank exposure in March * JPMorgan cites quarter-end withdrawals, Moody's review * Some big funds bought euro zone bank CPs/CDs in March By Richard Leong NEW YORK, ...

Spanish bailout 'impossible' for eurozone, says prime minister Mariano Rajoy
Telegraph.co.uk
The eurozone is not equipped to bail out Spain, the country's prime minister Mariano Rajoy has admitted, as global traders continued to punish the nation's stocks and bonds. By Louise Armitstead Mr Rajoy said it was "not possible to rescue Spain" but ...

Telegraph.co.uk

Euro-Zone Industrial Data Signals Recession
NASDAQ
LONDON -- Industrial production in the euro zone slumped in February on an annual basis by the biggest amount in more than two years, Eurostat reported Thursday, adding to evidence that the currency bloc is in an economic recession.

METALS-Copper gains for 2nd day, euro zone worries ease
Reuters
ECB official says ready to intervene in debt markets * Traders cautious ahead of China GDP, Italian debt sale * Coming Up: Eurozone industrial output; 0900 GMT (Updates prices, adds quotes, details) By Carrie Ho SHANGHAI, April 12 (Reuters) - London ...

Canada Official Says Leaders To Discuss Eurozone Concerns At Americas Summit
Wall Street Journal
By Paul Vieira Of DOW JONES NEWSWIRES OTTAWA (Dow Jones)--A Canadian official said Thursday the Prime Minister is expected to discuss re-emerging concerns about the euro zonewith his peers at the Summit of the Americas this weekend.

Return of the euro crisis
The Economist
The U-turn owes a lot to the shifting dynamics of the euro-zone bond markets, which have also affected Italy. Missteps by Spain's new government have not helped. Beneath all this lie deeper fears about Spain's injured banks, the stringency of the ...

The Economist

US STOCKS-Wall St up on euro zone yields, earnings bets
Reuters
Benchmark bond yields in Italy and Spain ticked lower following an Italian auction of three-year notes, while the euro rose against the US dollar, signaling easing near-term concern about theeuro zone's debt troubles. "Auctions (in Europe) have not ...

Eurozone Afloat, but Still a Wreck
The Weekly Standard (blog)
A cynic would be tempted to compare the eurozone to Ryou-Un Mara, the rusty Japanese ghost ship that floated across the Pacific after last year's earthquake. Some wrecks surprise us by staying afloat for a long time, but that does not make them less of ...

PRECIOUS-Gold treads water; euro zone caution remains
Reuters
"The comment has stabilised the stock market and euro, but the prospect in the euro zone still looks grim with yields in Spain and Italy trading at relatively high levels," said Peter Tse, director at ScotiaMocatta in Hong Kong.

Spain Stands By Austerity
Wall Street Journal
By DAVID ROMÁN MADRID—Spanish industrial production fell at an accelerated pace in February, the latest sign that the euro zone's fourth-largest economy remains mired in contraction, as Prime Minister Mariano Rajoy expressed renewed support for deep ...

Wall Street Journal


IMF chief looks beyond eurozone crisis
The Guardian
Lagarde's comments came as Italy was forced to pay sharply higher interest rates when it auctioned €5bn (£4.1bn) worth of bonds on Thursday, underlining anxiety in financial markets about the health of the eurozone's crisis-hit economies.

The Guardian

Time to put the doomed euro out of its misery
Telegraph.co.uk
Nowhere is this old saw more applicable than in the eurozone, where only a month or so back, leaders were warmly congratulating themselves on having seen off the worst of the debt crisis. As is apparent from the events of the past week, ...

Telegraph.co.uk

Italy hits bond trouble as eurozone tensions return
AFP
The European Commission in Brussels meanwhile urged eurozone leaders to work together, with a spokesman saying: "We want the 17 euro area member states to move forward together to preserve their common good, the euro.

AFP

Euro zone Feb industrial output beats expectations
Reuters
BRUSSELS, April 12 (Reuters) - Euro zone industrial production rose in February against January, beating market expectations of a contraction, but January's output was revised lower, data showed on Thursday. The European Union's Statistics Office said ...

Euro Zone: 'Great Dichotomy' to Continue
CNBC.com
The problems of the euro zone are back under the magnifying glass this week, but investors need to be careful to distinguish between the less and more successful countries. “The idea that Europe is one great homogenous whole which is going into ...

CNBC.com

Eurozone crisis to trim global trade, World Trade Organisation warns
The Guardian
Government hopes of an export-led recovery were dented on Thursday as the weakest trade figures for almost six months coincided with a warning from the World Trade Organisation that the turmoil in the eurozone would act as a major drag on international ...

The Guardian

Spanish Budget Law Progresses
Wall Street Journal
But if any euro-zone member were to get into trouble, the region's bailout funds have sufficient resources to help them, she said. "We carefully observe all the countries, and those who have problems get help," Ms. Fekter said in an interview.

You Can't Spell Spain Without 'Pain'
Wall Street Journal (blog)
Investors are increasingly skeptical that policymakers or the rescue funds will solve Spain's problem quickly, and concern is mounting about contagion to Italy. We continue to believe that, if needed, support will eventually be forthcoming to avoid a ...

Italy's borrowing costs continue to rise as uncertainty grows for eurozone ...
Washington Post
MILAN — Italy's borrowing costs are continuing to rise amid renewed uncertainty about its debt load and growth prospects. Italy easily sold €4.88 billion ($6.41 billion) in bonds in four denominations on Thursday, but investors demanded higher returns.

Eurozone industrial output rises
Financial Times
By James Wilson in Frankfurt Industrial output in the eurozone rose unexpectedly in February but did not dispel gloom over the difficulties facing the region's largely stagnant economy. A winter surge in energy output appeared to be partly behind the ...

TABLE-Euro zone industrial production in February
Reuters
... Statistics Office released the following data on Thursday on industrial production in the 17 countries sharing the euro and the whole European Union of 27 countries: MONTH-ON-MONTH Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 EURO ZONE Total industry ...

The Unsolved Euro Crisis
By Dan Amoss
Dan Amoss discusses the ongoing Euro crisis, rooted in government spending and terrifying European bank behavior, and why gold owners will benefit in the next buying opportunity.
The Daily Reckoning

George Soros: Eurozone Crisis Has Entered “A Less Volatile but ...
By Matt Stoller
Matt Stoller is a fellow at the Roosevelt Institute. You can follow him on twitter athttp://www.twitter.com/matthewstoller. As the next INET conference begins in Germany, one topic of conversation is sure to be George Soros's piece discussing the ...
naked capitalism

GEORGE SOROS: The Euro Crisis Has Entered A 'Less Volatile But ...
By Sam Ro
A eurozone break up has become more likely, but...
Business Insider

Why Germany Should Leave the Eurozone @ Forex Factory
By From time.com
Why Germany Should Leave the Eurozone - Most discussion about a potential breakup of the Eurozone assumes that Greece and other financially troubled countries would be the ones who ended up abandoning the common euro currency.
Forex Factory

IS EUROPE'S RECESSION SPREADING BEYOND THE EUROZONE?
By Sober Look
When Sweden's Q4 GDP fell 1.1% from the previous quarter, most analysts thought of it as a temporary blip. After all the Q4 GDP was still positive on a year-over-year basis.
PRAGMATIC CAPITALISM

XE.com - TABLE-Euro zone industrial production in February
The European Union's Statistics Office released the following.
XE Forex News

3 numbers to watch: Eurozone ind. prod., US PPI, jobless claims ...
By Mads Koefoed, Macro Strategist, Saxo Bank
Eurozone Industrial Production will show the gap between the haves in the north and the have-nots in the south. Later,initial Jobless Claims will deliver the first new information about the US job market since Friday's disappointing payrolls ...
Feed for all blogs

Euro Zone Industrial production defies expectations; keeps into ...
Euro Zone Industrial production, throughout the month of February, rose to 0.5% from the previous 0.2% defying expectations for a 0.2% contraction.Good.
RTFX - News Feed

Eurozone Jan Industrial production + 0.5% m/m, -1.8% y/y (expected ...
By Joe Brown
Better on a monthly basis but in line on the y/y. EU Jan IP revised to flat m/m from +0.2% and -1.7% y/y from -1.2% Little reaction in the market with EUR.
ForexLive

Emerging markets relatively immune to eurozone woes, HSBC says ...
China's slowing economy is causing widespread concern for capital markets, but the rise in economic output across most emerging markets over the past six months proves that they are relatively immune to the havoc unfolding in the ...
FP Top Stories List

Financial crisis, austerity policies and geographical inequalities in ...
By pearcej1
On the one hand the direct impact of the financial crisis (e.g. unemployment) on health is clearly detrimental to the individual concerned and their immediate family. For instance, the incidence of suicide, drug abuse and domestic violence ...
Centre for research on environment,...

USAGOLD News and Views » Blog Archive » Euro-Zone Data Point ...
By News
12-Apr (The Wall Street Journal) — Industrial production in the euro zone slumped in February by the largest amount in more than two years, Eurostat reported Thursday, adding to evidence that the common-currency bloc is in an economic ...
USAGOLD News and Views

Public Policy and the Past: History shows that the Euro crisis isn't ...
By thehistorian
As predicted here many, many times, the Euro crisis just keeps rolling on (and on). The bad news just won't give up - despite a period of eerie calm that actually made a bit less sense than the arm-waving, sell-everything panic. Italian growth ...
Public Policy and the Past

Dr. Eric Edmond's Blog: Eurozone is slowly dying
By Eric Edmond
Eurozone is slowly dying. That was the message Gerald Lyons, chief economist of Standard Chartered gave on Jeff Randall tonight. He nailed Lagarde's obsession with debt. The problem is not debt but lack of growth or even contraction.
Dr. Eric Edmond's Blog

Eurozone crisis: Italy's borrowing costs jump | Business | guardian ...
Italy has managed to sell €4.88bn of its €5bn of bonds on offer, but at a considerable price.
www.guardian.co.uk/.../eurozone-crisis-live-italy-approaches-...

Wall Street up on euro zone yields, earnings bets - Yahoo! News
From Yahoo! News: NEW YORK (Reuters) - Stocks edged higher in early trading on Thursday as concerns about rising yields in some euro zone countries ...
news.yahoo.com/stock-index-futures-signal-early-gains-11015...

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