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

Thursday, May 31, 2012

Eurozone economic confidence slides in May

Eurozone economic confidence slides in May
Boston.com
A Greek exit from the euro or a worsening financial crisis in Spain could disrupt theeurozone's shaky banking system and hurt businesses ability to borrow and expand. A resulting slump in the economy could make it harder for Europe to work its way out...

Boston.com

Euro-Zone Business Confidence Slumps
Wall Street Journal
The weakening of business confidence indicates that investment and new hiring won't pick up in coming months, and the euro-zone economy is therefore unlikely to embark on a sustained recovery. The European Commission Wednesday said its economic ... 

Euro zone expansion stalls as crisis rages
Chicago Tribune
But as the crisis has spread, rocking even core euro zone economies like Spain and Italy, those still on track to adopt the currency have begun to have second thoughts. Six of the eight candidates on the list to adopt the euro - Bulgaria, ...

News Summary: Eurozone economic confidence slides in May to lowest level in ...
Washington Post
THE NEWS: Economic confidence across Europe fell sharply in May, a further sign that the recent escalation in the region's debt crisis is being felt across the continent. THE NUMBERS: The European Commission said its economic sentiment indicator for ...

In test for euro zone, Ireland votes on fiscal treaty
Washington Post
DUBLIN — Linked by a common currency but not a common economy, the crisis-battered euro-zone nations are facing a pivotal choice: Either forge more closely together or risk their currency union breaking apart. But are European voters — some in ...

EU calls for euro zone banking union, direct bank recapitalisations
Reuters
Commission calls for direct bank recapitalisations, banking union * Euro jumps in reaction * Spain under spotlight over public finances By Jan Strupczewski BRUSSELS, May 30 (Reuters) - The euro zone should move to a banking union and consider directly ...

US STOCKS - Wall St stumbles as euro zone worry grows
Reuters
Spanish, Italian yields rise on euro zone concerns * New Greek election poll shows leftist SYRIZA has taken lead * European Commission calls for banking union * Research in Motion tumbles in premarket * Indexes off: Dow 1.1 pct, S&P 1.2 pct, ...

Euro zone should have deposit guarantees, financial supervision
Reuters
BRUSSELS (Reuters) - The euro zone should have a banking union, joint financial supervision and bank deposit guarantees as elements of a deeper economic union that European Union leaders will discuss in June, EU Commission President Jose Manuel Barroso ...

EU calls for euro zone banking union, direct bank recapitalizations
Chicago Tribune
BRUSSELS (Reuters) - The euro zone must boost growth and cut debt to regain investor confidence but it should also move towards a banking union, consider eurobonds and the direct recapitalization of banks from its permanent bailout fund, the European ...

US STOCKS - Futures drop on euro zone fears
Reuters
Spanish, Italian yields rise on euro zone concerns * European Commisssion calls for banking union * Research in Motion tumbles in premarket * Futures off: Dow 97 pts, S&P 9.7 pts, Nasdaq 19.5 pts By Chuck Mikolajczak NEW YORK, May 30 (Reuters) - US ...

US Stocks Slide As Spanish Banks Reignite Euro-Zone Fears
Wall Street Journal
By Jonathan Cheng US stocks slumped Wednesday as rising worries about the health of Spanish banks reopened another front on global investors' worries over the euro zone's debt crisis. The Dow Jones Industrial Average dropped 130 points, or 1%, ...

Crude Falls 3.2% as Euro Crisis Deepens
Wall Street Journal
By DAN STRUMPF NEW YORK—Oil futures fell more than 3% to finish at their lowest level in seven months as Spain's intensifying banking crisis prompted fresh worries about the future of the euro zone. Light, sweet crude for July delivery fell $2.94, ...

Worries About Spain Weigh on Euro Zone
New York Times
Europe's economic stagnation and continuing financial turmoil in the euro zone have weighed on confidence, the European Commission said Wednesday. The commission's indicator of business sentiment in the 17-nation euro zone fell in May to 90.6 from ...

US Treasury bond yields hit record low as eurozone worries mount
Christian Science Monitor
A decline in global stock prices Wednesday shows that many investors are taking sanctuary in US Treasury bonds, anticipating major convulsions in the eurozone – and perhaps its breakup. By Mark Trumbull, Staff writer / May 30, 2012 A man passes an...

Christian Science Monitor

Stocks sink amid euro zone crisis fears
msnbc.com (blog)
By msnbc.com news services Stocks sank Wednesday, as investors worried about a spiraling of theeuro zone's debt crisis. The Dow Jones industrial average was lately down over 140 points, erasing all of the gains made on Tuesday.

Wall Street stumbles as euro zone worry grows
CNBC.com
NEW YORK (Reuters) - Stocks dropped on Wednesday, as rising bond yields for Italy and Spain and the latest poll results in Greece worsened fears about a spiraling of the euro zone's debt crisis. The region's fiscal woes sent the yield on the safe-haven ...

Hedge funds take bets against core euro zone bonds
Reuters
By Laurence Fletcher | LONDON (Reuters) - Hedge funds are piling into bets against the bonds of core euro zone countries like Germany and France, signalling a growing fear that nations once considered safe havens could be dragged down by the crisis in ...

OIL FUTURES: Crude Plunges As Euro Crisis Deepens
Wall Street Journal
The events in Spain underscore the broader crisis facing the euro zone as its weakest members continue to face fiscal and political turmoil that threaten to rend the currency union. More broadly, oil market participants worry that further upheaval in ...

Oil slides three percent on worries over euro zone, China
CNBC.com
NEW YORK (Reuters) - Oil fell more than 3 percent on Wednesday on the threat to petroleum demand from a spreading euro zone debt crisis as China signaled it is not planning a large economic stimulus. Rising borrowing costs for Spain and Italy and the ...

Could Germany save eurozone by leaving it?
CNN
However, there is still time for European leaders to reverse this destructive dynamic with one simple, outside-the-box solution: Instead of pushing Greece out of the eurozone, Germany should voluntarily withdraw and reissue its beloved deutsche mark.

EU sees rescue-fund bailout of euro-zone banks
MarketWatch
The proposals come as the European banking system continues to creak under the strain of theeuro-zone debt crisis and a continued deterioration in economic conditions. The Spanish banking system is under particular scrutiny as the Spanish government ...

Euro Crisis Deepens as Bank of Spain Governor Resigns
123Jump.com
The European indexes traded lower as the fear of contagion took a deeper hold in the region and peripheral nations' bond yields rose again. Spanish bond yields rose to a record high since joining the euro and investors sought the safety of the ...

Eurozone crisis 'shows UK strength'
Fife Today
The deepening eurozone crisis has emphasised the need for the UK to stick together and share the risks and rewards of the union, according to Labour leader Johann Lamont. Scotland could weather the storm if Greece withdraws from the euro, according to ...

Fife Today

Futures Dragged Lower on Euro Zone Fears
CNBC.com
US stock futures were dragged lower Wednesday, with the euro trading near 23-month lows against the dollar, as worries over the euro zone crisis intensified. Futures had briefly pared their losses earlier after the European Commission said the euro ...

EU urges direct bank aid in boost for Spain
Reuters
By Jan Strupczewski and Julien Toyer | BRUSSELS/MADRID (Reuters) - The European Commission advocated direct aid from a euro zone rescue fund to recapitalize distressed banks in a move that could eventually help Spain, the latest front in Europe's debt ...

Imagining A Eurozone Break Down
Forbes
Itau BBA imagines a "Lehman-like scenario" if the euro zone was dismantled. Whether or not Greece leaves the euro will be known sometime shortly after the Greek elections on June 17. If Greece leaves the euro, the eurozone GDP is seen ending the year ...

Forbes

Euro zone economic sentiment falls to near 3-year low
Reuters
BRUSSELS (Reuters) - Euro zone economic sentiment fell more than expected in May, as pessimism among manufacturers and retailers in particular worsened, although consumers became slightly less downbeat about the economy for the year ahead.

Lending, money data indicate weak eurozone economy
The Seattle Times
Credit and money data from the European Central Bank are showing that the eurozone economy remains weak. The Associated Press No comments have been posted to this article. Credit and money data from the European Central Bank are showing that the ...

Eurozone Economic Sentiment Near 3-Year Low
RTT News
This is not surprising given that the economic fundamentals currently look an unhealthy mix for consumer spending across the Eurozone - high and rising unemployment, recent sticky inflation, generally muted wage growth and tightening fiscal policy in ...

RTT News

Waiting For Godot: Existential Eurocrisis Edition | ZeroHedge
By Tyler Durden
Waiting For Godot: Existential Eurocrisis Edition. Tyler Durden's picture. Submitted by Tyler Durden on 05/29/2012 18:16 -0400. Michael Cembalest. From JPM's Michael Cembalest. Average: 4.214285. Your rating: None Average: 4.2 (14 ...

Keithgram: Contagion Defined | The Daily Capitalist
By Jeff Harding
I have not really preferred the word contagion. When an effect happens, even in the monetary system, it has a cause. This is generally not merely that a.
The Daily Capitalist

Spain Crisis Quickening Pace for Eurozone Response | FDL News ...
By David Dayen
A couple days ago, Spain floated an idea to deal with their bailout of Bankia, which would have represented a back-door way for the country to print money.
Firedoglake

It's Groundhog Day for saving the euro zone | Ian Bremmer
By Ian Bremmer
Despite all of the elections, the pain, the protests, and the German Sturm und Drang, the fundamental basis of the crisis, and the situation, remains the same. Yet this isn't as bad as it sounds.
Ian Bremmer

Sober Look: Eurozone contagion spreads to emerging markets
By Walter Kurtz
Eurozone contagion spreads to emerging markets. Emerging markets currencies are under pressure again. In particular the rupee is getting slammed - now above R56 per $1. The Eurozone-based risk aversion as well as India's economic ...
Sober Look

Eurozone Should Consider “Banking Union” - 24/7 Wall St.
By Paul Ausick
The executive branch of the European Union — the European Commission (EC) — is set to release a report today that recommends allowing the funds in the European Stability Mechanism (ESM) to be used directly to increase capital in the ...
24/7 Wall St.

Calling bluffs in the eurozone crisis | Brèves | LEAP 2020
By Deutsche Welle
In mid-June, Greece will have renewed elections. If opponents of austerity win, a Greek exit from theeurozone seems more likely. The consequences would be fatal for Greece and uncertain for th...
LEAP 2020

ekathimerini.com | Greeks in the UK, Lagarde, eurozone, buying ...
EU should force Greece to stay in the eurozone. To force Greece to exit the Eurozone is legally absolutely impossible. To force the country to stay in the Eurozone is a much smarter strategy! One irrefutable fact about financial crises is: serious ...
Latest News

Euro-Zone continues down the plug hole | The Big Picture
By Kiron Sarkar
Australian retail sales declined unexpectedly by -0.2% in April MoM, the 1st fall in 10 months. The weaker data suggests further cuts of interest rates by.
The Big Picture

Euro-Zone Crisis Delay and Pray, Stock Market Not Bearish Enough ...
Euro-Zone Crisis Delay and Pray, Stock Market Not Bearish Enough to Support a Rally :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website.
The Market Oracle

May 30, 2012: Eurozone fears lower global indexes
By mike.yamamoto@optionmonster.com
U.S. equity futures are indicating a negative open as Eurozone sovereign debt fears further gripped the markets today.
optionMONSTER News

DealBook | Dim Prospects for Financial Crisis Prosecutions ...
By 4closureFraud
As has been noted many times, the lack of criminal prosecutions arising out of the financial crisishas been painfully obvious. And two items in the news last week underscores that the prospect for a signature case is growing even more distant.
Foreclosure Fraud - Fighting...

EU calls for euro zone banking union, direct bank recapitalisations ...
By From reuters.com
EU calls for euro zone banking union, direct bank recapitalisations - The euro zone must boost growth and cut debt to regain investor confidence but it should also move towards a banking union, consider eurobonds and the direct ...
Forex Factory

Euro crisis: Should I cancel my vacation? - CNN
In the last decade of the 20th century, the Turkish lira fell in value 1000 times against the U.S. dollar, meaning that tourists returning to that country after several ...
articles.cnn.com/.../travel_greece-tourism-euro-fears_1_euro-c...

Greece and Germany in War of Words Over Euro Crisis - NYTimes ...
A telephone conversation on Friday between Germany's chancellor and Greece's president became the latest flashpoint in the unfolding crisis over Greece's ...
www.nytimes.com/.../a-war-of-words-between-greece-and-ger...

Insight: Greek exit could cost eurozone 100s of billions of euros ...
From Yahoo! News: FRANKFURT (Reuters) - A Greek exit from the euro zone could expose the European Central Bank and the currency bloc it seeks to protect ...
news.yahoo.com/insight-greek-exit-could-cost-eurozone-100s...

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