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

Wednesday, May 2, 2012

Eurozone Austerity Faces Political Challenges as Economy Worsens

Eurozone Austerity Faces Increasing Political Challenges as Economy Worsens
Huffington Post (blog)
It takes place in the same room of that giant greenhouse-looking World Bank building on 19th Street in Washington, DC And the IMF's defense of its policies in the eurozone is not getting any stronger. Maybe it's because most economists at the IMF don't ...

Eurozone crisis live: May Day austerity protests in Greece; Venizelos warns ...
The Guardian
The motivations of the various groups vary, reflecting changes since the financial crisis began. In the Philippines, workers marched today to demand wage increases and an end to rising fuel prices. But in Europe the protests are aimed at the eurozone's ...

The Guardian

NYMEX-Crude down on euro zone worries, weak data
Reuters
Paltry consumer spending, Midwest slowdown hits oil * OPEC April output highest since 2008-Reuters poll * Spain slips into recession, deepens euro zone worries * Coming up: API petroleum stocks data, 4:30 pm EDT Tuesday NEW YORK, April 30 (Reuters) ...

The euro-zone crisis Breaking up is slow to do
The Economist (blog)
THE odds of a euro-zone breakup may not be high but they are not zero. As policymakers debate the relative merits of austerity and growth, the risk of the worst-case scenario is influencing the behaviour of businesses and banks on the ground.

The eurozone should sort out its own mess
Telegraph.co.uk
By Jim Flaherty At the meeting of the International Monetary Fund recently, Canada decided against contributing more resources to support the eurozone. We also argued that all countries borrowing from the IMF should be treated equally.

Telegraph.co.uk

Fed's Lockhart concerned about contagion from Europe
Reuters
LOS ANGELES May 1 (Reuters) - A top US Federal Reserve official said on Tuesday he is concerned about possible spillover effects from Europe's simmering debt crisis that could cause another financial crisis. "What concerns me is risk channels, ...

Eurozone crisis hits manufacturing
The Press Association
The UK's recovery hopes have been dealt a blow as problems in the crisis-hit eurozone - the UK's biggest trade partner - hit the manufacturing sector. The Markit/CIPS survey, where a reading above 50 represents growth, fell to 50.5 in April from 51.9 ...

Europe's credit crunch: James Saft
Reuters
As for the future, European banks still have hundreds of billions of capital to raise, implying that even when demand for credit returns, the unbalanced recession in the euro zone might be extended by continued tough loan market conditions.

Austerity Vs. Growth In The Eurozone
Business Insider
The renewed flare-up in the sovereign debt crisis and accompanying political developments have brought the Eurozone back to the forefront of investor concerns in April. Strong prospects of a Socialist government taking power in France in May, ...

EuroCrisis: Default, Austerity and Deleveraging
International Business Times
The default in Greece was one of the worst moments since the 2008 financial crisis, part of the European Union defaulted on their debt and with the help of the ECB, World Bank and IMF strong armed bond holders in to accepting massive write offs.

World workers express anger, gloom on May Day amid eurozone fears
Columbia Missourian
BY Daniel Woolls/AP MADRID — Banging drums and waving flags, hundreds of thousands of workers marked May Day in European cities Tuesday with a mix of anger and gloom over austerity measures imposed by leaders trying to contain the eurozone's ...

Greek Elections and the Euro
Wall Street Journal (blog)
Since Greece got its second bailout in March, the country has faded from the spotlight as a potential source of euro-zone instability. One euro-zone government official who sits on the influential Economics and Financial Committee of the European Union ...

UK at risk of longer slump as Euro crisis hits factories
Economic Times
LONDON: Manufacturing output barely grew at all in April as an economic slowdown in the euro zone curbed demand for goods made in Britain, a survey showed on Tuesday, raising the risk of a longer recession. The unexpectedly sharp slowdown is fuelling a ...

Germany takes new approach to eurozone crisis
Deutsche Welle
As French presidential frontrunner Francois Hollande announces plans to recast the eurozone's fiscal compact, German Chancellor Angela Merkel adds a growth agenda to her strategy for curbing the eurozone crisis. It was quite a triumph for Merkel when ...

Deutsche Welle

ECB Loans Plant Seeds of European Disintegration
Bloomberg
“Basically you're planting the seeds for the disintegration of the euro zone.” The ECB began two rounds of extraordinary three-year loans at an interest rate of 1 percent in December in its longer-term refinancing operations.

Bloomberg

The eurozone debt crisis has hit Britain's manufacturing sector
Express.co.uk
By Emily Fox for express.co.uk BRITAIN'S manufacturing sector hit a new low today as theeurozone debt crisis finally hit home. Manufacturing fell to 50.5 per cent in April from 51.9 in the previous month and City expectations of 52, according to the ...

Weak eurozone and strong pound combine to dent exports and manufacturing
This is Money
By Harry Glass Weakness in the UK's strongest trading partner - the eurozone - saw demand curbed for exports and meant manufacturing data disappointed last month. Growth was expected to slow, but not by so much - the Manufacturing Purchasing Managers' ...

This is Money

Time to apply EM lessons to euro crisis
Financial Times
Political leaders in Europe must now confront the eurozone crisis with the boldness and realism that leaders in successful emerging markets did in the past. Further fence-sitting is unacceptable: financial market confidence in the ability of Europe's ...

EuroCrisis: Italy Heads to Default as Austerity Bites
International Business Times
By Paul A. Ebeling, Jnr. Prices in Italy rose 4.7% in April, a surprising jump for a slow growing economy where wages are falling and unemployment is on the rise. According to the figures released Monday by Italian National Statistic Institute Istat, ...

Eurozone lending growth slows, banks spend ECB cash on bonds
Gulf Times
Growth in lending to eurozone firms and consumers slowed in March as banks scaled up purchases of government bonds, showing that an ambitious funding drive by the European Central Bank has yet to trickle down to the real economy.

Ottawa put up billions to help banks
TheChronicleHerald.ca
Canada's big banks received billions in support from the federal government and the Bank of Canada during the 2008-09 financial crisis. (ADRIAN WYLD / CP) OTTAWA — Canada's big banks received billions in support from the federal government and the ...

TheChronicleHerald.ca

Taxpayers not told of secret bank bailout: report
Vancouver Sun
Canadians were never told the true cost of a $114-billion "secret bailout" for the country's biggest banks during the financial crisis, says a report from the Canadian Centre for Policy Alternatives. "We've had a false sense of security," said study ...

Will Biggest Reduction In Interest Rates In Three Years Increase Gold And ...
Daily Markets
Treasuries are rallying on fears of a slowing economy in the US after weak economic data was released recently and as geopolitical uncertainty increases in the Eurozone. France has an election May 6th, where we may see a possible changing of the regime ...

Illinois: State museum faces financial crisis
Kankakee Daily Journal
SPRINGFIELD -- The Illinois State Museum might have to close one of its six sites -- or push for an entrance fee -- if its finances don't improve. "We can't sustain much more in terms of cuts," museum Director Bonnie Styles said.

Peter Jones: Eurozone in revolt against austerity
Scotsman
But what seems certain to survive is the demand he plans to put to Angela Merkel, Germany's chancellor, that the Eurozone's austerity-focused fiscal compact be renegotiated to allow for spending aimed at stimulating growth. This seems likely to strike ...

Scotsman

Dutch Save Reputation, but Real Test Lies Ahead
Wall Street Journal (blog)
Being one of the foremost advocates of fiscal stringency in the euro zone, the Dutch center-right government couldn't allow itself to miss a European Commission demand under the new fiscal pact. In order to save face it needed to show how it intends to ...

Eurozone fears hit NY stock prices
The Press Association
News that Spain's economy has entered another recession renewed worries about the fragility of Europe's finances and nudged stocks lower on Wall Street. The market ended its first losing month this year. The Standard & Poor's 500 index slipped 5.45 ...

Recession means new reality for Netherlands, stalwart economy of euro zone
Public Radio International PRI
The Netherlands is one of the richest and strongest economies in the euro zone. But, in recent months, the country has dipped back into recession as it tries to shave nearly $20 billion from its budget. It's forced some people living on the margins to ...

French Election Gives Country's Banks a Fresh Headache
Wall Street Journal (blog)
Like their peers across the region, BNP Paribas SA, Société Générale SA and Credit Agricole SA are being hit by renewed fears about the euro zone crisis, centered largely on Spain. “French banks, given their widespread presence in Europe are very ...

Sober Look: Rise in Eurozone M3 is not improving credit conditions
By Walter Kurtz
With the second round of the LTRO program, the ECB has managed to slightly improve liquidity in the Eurozone. This is evidenced by the growth in M3, the broad money stock. But as discussed before, this liquidity is not translating into ...
Sober Look

Is the Eurozone on fire? – roseanna - My Telegraph
By rosie
Eurozone fire. According to Lord Ashdown (remember him? Paddy Pantsdown) David Cameron is throwing cans of petrol onto the Euro currency fire, all because he said the euro economies faced “a very long and painful process” ...
roseanna

The financial crisis: a European trilemma and global dilemma - The ...
The financial crisis: a European trilemma and global dilemma. The European think-tank, Breugel, recently produced a report suggesting that there was a fundamental.
NationMultimedia.com - Opinion

Fed's Lockhart: Concerned contagion from Europe could lead to ...
By Jamie Coleman
Fed's Lockhart: Concerned contagion from Europe could lead to financial crisis. By Jamie Coleman || May 1, 2012 at 18:35 GMT. || 0 comments || Add comment. Reuters headline. Share and Enjoy: RSS · Facebook · Twitter · LinkedIn · email ...
ForexLive

XE.com - Fed's Lockhart concerned about contagion from Europe
A top U.S. Federal Reserve official said on Tuesday he is concerned about possible spillover effects from Europe's simmering debt crisis that could cause another financial crisis.
XE Forex News

What Merkel's Isolation Means For the Euro Crisis @ Forex Factory
By From spiegel.de
What Merkel's Isolation Means For the Euro Crisis - Angela Merkel's euro crisis strategy is unpopular and she has lost a number of allies. Worse yet, French presidential candidate François Hollande has pledged a change of course from the ...
Forex Factory

Lest We Forget: The Lasting Effects of the Financial Crisis | Dylan ...
By Dylan Ratigan
Let's take a look at some of the lasting impact of the financial crisis on ordinary Americans — just the basics, to start. We've got a massive, ongoing unemployment crisis, clocking in at 8.2% in March, which we at the DR Show refuse to accept ...
Dylan Ratigan

How are artists visualizing the financial crisis? - The Irish Economy
By Philip Lane
How are artists visualizing the financial crisis? This post was written by Philip Lane. Frieze Magazine weighs in here. Update: The comments thread contains links to an array of crisis-related imagery. This entry was posted on Monday, April ...
The Irish Economy

Thinking about the eurozone as a bar » Public Relations | Blog ...
By Jo Breiner
Thinking about the eurozone as a bar. May 1st, 2012. Marketplace Vivien Schmidt, College of Arts & Sciences. Spain chopped its budgets but now austerity is biting back… View article. Comments are closed. join the conversation. visit the ...
Public Relations

Berlin Insists on Euro Zone Austerity – CNBC.com | The Wall Street ...
By Wall Street Examiner Newswires
CNBC.comBerlin Insists on Euro Zone AusterityCNBC.comThe euro zone must stick to its austerity-led recovery plan, Germany's finance minister insisted ...
The Wall Street Examiner

Eurozone crisis hits manufacturing « This Is Guernsey
By PA
The UK's recovery hopes have been dealt a blow as problems in the crisis-hit eurozone - the UK's biggest trade partner - hit the manufacturing sector.
This Is Guernsey » This Is Guernsey

Latin American Lessons from the 2008 Financial Crisis – Liliana ...
By Lawrence MacDonald
Conventional wisdom has it that when the United States catches a cold, Latin America gets pneumonia. But when the United States caught financial pneumonia in.
Global Prosperity Wonkcast

Euro-Zone News and Analysis | The Albion Alliance presents
By admin
Euro-Zone News and AnalysisPress summary: Greek Socialist leader suggests euro exit should not be ruled outhttp://www.openeurope.org.uk/Article/Page/en/LIVE?id=8818. Share and Enjoy: Add to favorites; email · Print · Twitter · Facebook ...
The Albion Alliance presents

EuroCrisis: Default, Austerity and Deleveraging | Live Trading News
By Shayne Heffernan
Following on from the disastrous Greece Default, the ECB, IMF and World Bank are ready for the Sequels, Spain, Italy, Portugal and Ireland. As the IMF.
Live Trading News

THE EUROZONE DECOUPLING…. | PRAGMATIC CAPITALISM
One of the more controversial ideas I wrote about last year was the decoupling of Europe and the USA. My thinking was that austerity was setting Europe apart.
pragcap.com/the-eurozone-decoupling

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