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

Wednesday, May 16, 2012

Contagion risk deepens as new Greek elections called

Contagion risks deepen as new Greek elections called
CNN
By Chris Isidore @CNNMoneyInvest May 15, 2012: 1:37 PM ET NEW YORK (CNNMoney) -- The threat of contagion in Europe deepened Tuesday, when Greece announced it would hold new elections in June after failing to form a coalition government.

Euro-Zone Economy Avoids a Recession
Wall Street Journal
By BRIAN BLACKSTONE FRANKFURT—The euro-zone economy narrowly escaped recession in the latest quarter thanks to a surprising rebound in Germany, which offset deepening downturns in Spain and Italy. Although the region avoided two straight quarterly ...

Wall Street Journal

Contagion Fears Hit Markets
Wall Street Journal
Fresh data Monday showed industrial production in the 17-nation euro zone falling 2.2% in March from a year earlier. Supporters of the Greek Communist Party rally in Athens Monday. Italy's prime minister Mario Monti, center, in Brussels Monday.

Wall Street Journal

Eurozone avoids recession as Germany powers ahead
BusinessWeek
Germany propped up the ailing eurozone economy during the quarter, preventing it from falling back into recession -- officially defined as two consecutive quarters of negative growth. Without it, the economy of the remainder of the eurozone would have ...

Eurozone data pose dilemma for Osborne
Financial Times
By Sarah O'Connor, Economics Reporter News the eurozone managed to avoid slipping back into recession in the first quarter presented Britain's coalition government with an uncomfortable question. Why is the UK in a double-dip recession when the ...

Euro-Zone Economy Defies Doom-Mongers
Wall Street Journal (blog)
By RICHARD BARLEY The euro zone refuses to stick to the script. The currency bloc was predicted to slide back into recession in the first quarter; instead, the economy flat-lined, an improvement on the previous quarter's 0.3% contraction and well ahead ...

Wall Street Journal (blog)

Eurozone avoids recession in Q1, thanks to Germany
USA TODAY
There was one reason the eurozone avoided an overall recession — defined as two consecutive quarters of negative growth: Germany, Europe's biggest economy, was behind the better-than-expected performance as strong export figures helped it grow 0.5% ...

USA TODAY

Euro Zone Economy Skirts Recession
New York Times
That surprise news resided deep within first-quarter economic data for Europe released Tuesday that also showed, to everyone's mild relief, that the euro zone as a whole has still avoided slipping into a regional recession. Greece, where the economy ...

New York Times

Euro-Zone Economy Steadies As Split Emerges
Wall Street Journal
By PAUL HANNON LONDON—The euro-zone economy steadied in the three months to March as a surprisingly strong rebound in Germany was balanced by contractions in Italy and Spain. According to a definition accepted by many economists, two straight quarters ...

Euro zone economy avoids recession but split grows
Reuters
Euro zone GDP stable at 0.0 pct change in Q1 from Q4 2011 * Germany surprises with 0.5 percent growth in Q1 * French growth evaporates after positive Q4 * Italy epitomises depressed south, contracting 0.8 pct in Q1 By Robin Emmott BRUSSELS, ...

Eurozone Economic Growth Stalled in Early 2012
Voice of America
Earlier projections in recent weeks signaled that the eurozone had fallen into a recession in the January-to-March period this year, after contracting three-tenths of a percent in the last three months of 2011. But the region's economic powerhouse,...

Voice of America

Germany saves euro zone from recession, split deepens
Reuters
By Robin Emmott and Alexandra Hudson | BRUSSELS/BERLIN (Reuters) - Germany pulled theeuro zone's economy back from the brink of recession at the start of 2012 but stagnation in France and contraction in southern Europe underlined sharply differing ...

Greece to hold new election, jolts euro markets
Reuters
The tremors from Greece, compounding worries about Spain's debt-laden banking system, ended any honeymoon for new French President Francois Hollande, thrusting the growing risks to the euro zone to the top of the agenda for his first meeting with ...

GLOBAL MARKETS-World stocks ease with euro on Greece worries
Reuters
Investors have been concerned that long-lasting problems in the euro zone and a likely recession will hit global growth. Greek politicians again failed to agree on a new government, nine days after an inconclusive election.

Overheard on CNN.com: Readers debate Greece's financial savvy, role in Eurozone
CNN (blog)
Readers are debating what would happen if the country left the Eurozone, and if Greece is doing enough to help itself out. Some readers said they believe the Greek people are making too much of austerity measures. URSilly: "Let the Greeks suffer in ...

FOREX-Euro sinks to fresh 4-month low on Greek woes
Reuters
* Dollar gains on data and safe-haven flows * Euro falls with no government in Greece * Common currency vulnerable to risk of contagion By Gertrude Chavez-Dreyfuss NEW YORK, May 15 (Reuters) - The euro dropped to a new four-month low against the dollar ...

European Stocks Sink
Wall Street Journal
Though not totally insulated from the euro-zone's sovereign debt crisis, the UK's FTSE 100 fared a little better, closing down 0.5% at 5437.62. Greece's president conceded defeat Tuesday as politicians could not agree on a coalition following the ...

Doomsday scenario for the eurozone?
CNN (blog)
By Paul Ames, GlobalPost It was the scenario never to be named — a prospect so terrible that the mere mention of it would conjure up doom and destruction for the eurozone. In the last few days, however, the risk that Greece could be forced out of the ...

Germany Helps Euro Zone Avoid Recession
TIME
Eurostat, the EU's statistics office, reported that the euro-zone economy was flat when compared to the previous quarter — though some members of the single-currency bloc had fared much better than others. (LIST: 10 Big Recession Surprises) The ...

EU Finance Ministers Talk Tough On Greece As New Elections Loom
Wall Street Journal
Swedish Finance Minister Anders Borg warned Greece may be nearing the end of its time in theeuro zone. "We are very close to the end of the road," Borg told reporters in Brussels. "The situation is very serious." The prospect of new elections that may ...

FOREX-Euro slumps to fresh 4-month low; Greece weighs
Reuters
* Dollar gains on data and safe haven flows * Euro falls with no government in Greece * Common currency vulnerable to risk of contagion NEW YORK, May 15 (Reuters) - The euro slid to a fresh four-month low against the dollar on Tuesday after a spokesman ...

Euro zone finance ministers dismiss Greek exit "propaganda"
Reuters
By Jan Strupczewski and Valentina Za | BRUSSELS/ATHENS (Reuters) - Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout program ...

Why Hasn't The Euro Fared Worse?
Wall Street Journal
By ALEN MATTICH Euro-zone GDP data, released Tuesday morning, show why despite all the single currency's crises, it's not doing worse. Germany is growing and Greece makes up a tiny proportion of the euro-zone economy. Chris Dillow, an economist, ...

FOREX-Euro makes fragile gains on robust German data
Reuters
* Euro recovers from low of $1.2814, German GDP helps * Common currency vulnerable to risk of contagion * Dollar index hovers close to four-month high By Nia Williams LONDON, May 15 (Reuters) - The euro held above a four-month low on Tuesday after ...

Assessing the Odds of a Greek Euro Exit
BusinessWeek
By Carol Matlack on May 15, 2012 Has a Greek exit from the euro zone become inevitable—even desirable? Some European leaders appeared ready to let Greece walk after an anti-austerity backlash in May 6 elections left the country without a government.

German data hoists European shares from 2012 lows
Reuters
* FTSEurofirst up 0.3 pct after Monday's 1.8 pct drop * Strong German performance supportseuro zone GDP * Greek concerns remain, underlying economic picture weak * Technicals suggest too soon to talk of a rebound By Toni Vorobyova LONDON, ...

FOREX-Strong Germany GDP supports fragile euro
Reuters
* Euro recovers from low of $1.2814, German data helps * But common currency vulnerable to risk of contagion * Aussie recovers from 5-month low vs dollar By Anirban Nag LONDON, May 15 (Reuters) - The euro held above a four-month low on Tuesday after ...

Germany Wants Greece In EMU, Insists On Troika Demands - Merkel Allies
Wall Street Journal
By Andrea Thomas and Beate Preuschoff BERLIN (Dow Jones)--Germany wants to keep Greece in the euro zone despite Athens heading for new elections, but the country must respect demands from international creditors regardless of the outcome of the new ...

Euro zone set to enter recession as fortunes diverge
Reuters
By Robin Emmott | BRUSSELS (Reuters) - The euro zone's sick economy probably slipped into its second recession in just three years in early 2012, data is due to show on Tuesday, as the debt crisis sucks southern Europe into a downward spiral and widens ...

Rajan Menon: Whither Eurozone Austerity?
By Rajan Menon
Europe's political winds have shifted over the past month. The first sign of this preceded the event now being hailed as the catalyst, Sarkozy's loss in France's presidential election, and it occurred in an unlikely place: the Netherlands.
The Full Feed from HuffingtonPost.com

The New Nostradamus of the North: The euro crisis: Kabuki ...
By NNoN
While Greece is burning, the euro zone decision makers are continuing their version of the traditional Japanese kabuki theater. Particularly, the euro zone chairman, Luxembourg´s Jean-Claude Juncker has aquired an important element of the ...
The New Nostradamus of the North

Eurozone crisis 2012: What you missed while you were sleeping ...
By James Pethokoukis
Germany pulled the euro zone's economy back from the brink of recession at the start of 2012 but stagnation in France and contraction in southern Europe underlined sharply differing fortunes in a bloc laboring under the effects of austerity.
The Enterprise Blog

Eurozone Industrial Production Falls – Steepest Rate Since 2009 ...
By Jeff Harding
The Eurozone PMI numbers are sinking: According to Markit: Eurozone industrial production fell 0.3% in March, the strong rate of growth seen this time.
The Daily Capitalist

EU and Eurozone GDP, first quarter 2012: German growth due to ...
By merijnknibbe
Today, Eurostat published data on first quarter GDP in the Eurozone and the EU. Some cherries: * an increasing number of countries has slipped into a technical recession (two subsequent quarters in which seasonally adjusted GDP declines) ...
Real-World Economics Review Blog

Eurozone GDP Growth: 0.0% - Business Insider
By Joe Weisenthal
Eurozone GDP growth came in at 0.0%. That's better than some estimates, which were calling for a slight loss. It's still no growth, and it's unevenly distributed, with the core getting the gains (especially Germany) and much of Europe falling into ...
Clusterstock

NewsDaily: Euro zone finance ministers dismiss Greek exit ...
By Jan Strupczewski and Valentina Za
Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and nonsense" on Monday, but said the country had to respect the terms of the bailout program agreed with the EU and the International Monetary ...
NewsDaily: Business Headlines

Greek Financial Crisis: Negotiations To Form Government Continue
By The Huffington Post News Editors
ATHENS, Greece — Marathon efforts to break Greece's post-electoral paralysis are lurching into a ninth day amid the country's worst crisis in decades, with fractious party leaders summoned to a yet another emergency meeting Tuesday that ...
The Huffington Post | Full News Feed

Far Left Risks Greece's Expulsion From Eurozone | Atlantic Sentinel
By Nick Ottens
Greek left wing parties rejected proposals to support a technocratic government on Tuesday, a last ditch effort by Greece's president to avert new elections and possibly bankruptcy. “We don't want to consent to any kind of bailout policies, even ...
Atlantic Sentinel

Democratizing the Eurozone — Social Europe Journal
By Vivien Schmidt
In recent months, more and more attention has been focused on the failure of the Eurozoneleaders' policies of fiscal consolidation, with growth presented as the alternative. The problems for the Eurozone stem not just from the policies, ...
Social Europe Journal» Columns

Fuel Fix » Strong German GDP eases eurozone fears
By FT.com - Energy
Strong German GDP eases eurozone fears. ... News the German economy is standing stoic within the eurozone helps to ameliorate fears about any possible Greek exit from the monetary union. Read more from Financial Times ...
Fuel Fix

The Daily Banter » Greece Close to Euro Zone Exit as Talks Fail
By Ben Cohen Admin
Greece Close to Euro Zone Exit as Talks Fail. By Ben Cohen Admin. May 14,2012. Greece default copy resized. Negotiations on forming a new Greek government have ended after an hour but will resume on Tuesday. Three previous attempts ...
The Daily Banter

Powered By Germany, Eurozone Avoids Recession : NPR
The economy of the 17 countries that use the euro narrowly avoided a recession in the first quarter despite a raging debt crisis that's raising the specter of an EU ...
www.npr.org/.../powered-by-germany-eurozone-avoids-recess...

Euro zone finance ministers dismiss Greek exit "propaganda ...
From Yahoo! News: BRUSSELS/ATHENS (Reuters) - Euro zone finance ministers dismissed talk of Greece leaving the euro zone as "propaganda and ...
news.yahoo.com/euro-zone-finance-ministers-dismiss-greek-e...

A crucial 48 hours for the eurozone | European Voice
a crucial 48 hours for the eurozone greek government talks, rules for banks, and the new french president's first engagements will be major issues this week.
www.europeanvoice.com/article/2012/may/...-/74333.aspx

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