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

Monday, May 28, 2012

Eurozone Grexit Cometh?

Will Greece exit the eurozone?
Economic Times
The contagion will spread since faith in the euro would vanish. Peripheral countries such as Portugal and Spain, where the banking system is perceived to be weak, will also come under assault as people will pull out funds. Once the contagion spreads, ...

In Euro Zone, a Debate Over Bonds
New York Times
FRANKFURT — To euro zone countries in need, euro bonds would be a noble expression of European solidarity and a crucial instrument for preserving the common currency. To Germans and quite a few others, though, euro bonds would be a lot like co-signing ...

Eurozone spells trouble for US
InvestmentNews
By Jeff Benjamin As the question of Greece's abandoning the eurozone increasingly shifts from “if” to “when,” speculation mounts about what impact a European crisis would have on the US economy and the upcoming presidential election.

Clegg dismisses Eurozone exodus as 'breathless talk' in clear barb at Theresa May
Daily Mail
He said there were no intentions to 'pull up the drawbridge' on an exodus of workers from crisis-hit eurozone nations. The Deputy Prime Minister, speaking on BBC1's Andrew Marr show, said: 'I really do think some of the breathless talk in the media ...

Daily Mail

BOE'S Dale says expects euro zone uncertainty set to continue
Reuters
LONDON (Reuters) - Uncertainty in the euro zone will continue for the next few years, acting as a drag on the UK economy, Bank of England policy maker Spencer Dale was quoted as saying in a newspaper on Sunday. Britain is not a member of the single ...

How to build a fiscal union to save the eurozone
Financial Times
If Greece were forced to abandon the euro, the eurozone would mutate from a monetary union into a loose single currency area. I would then expect a mass withdrawal of foreign investment, a credit crunch and a large sustained fall in economic output.

Euro crisis: Leaders debate the F-word
GlobalPost
(Sinead Lynch/AFP/Getty Images) London — The euro zone crisis boils along, like a tea kettle left screaming on the stove. Another summit of European leaders last week failed to resolve the crushing questions of Greece and how to square the circle ...

Greek pro-bailout party committed to euro zone
TVNZ
Greece's conservatives have regained an opinion poll lead that would allow the formation of a pro-bailout government committed to keeping the country in the euro zone, a batch of new surveys showed on Saturday. Greece was forced to call repeat ...

Nick Clegg: eurozone foundations are 'weaker than anyone could have predicted'
Telegraph.co.uk
Nick Clegg has warned that the foundations of the eurozone are "weaker than anyone could have predicted", as he urged Greece to stay in the euro and stick with its austerity programme. By Andrew Trotman It comes as Business Secretary Vince Cable ...

Telegraph.co.uk

Switzerland draws up eurozone collapse action plan
AFP
GENEVA — Switzerland does not foresee a break-up of the eurozone but is nonetheless drawing up an action plan in the event of its collapse, the country's central bank chief said on Sunday. Thomas Jordan, who became chairman of the Swiss National Bank ...

AFP

WEEK AHEAD: Traders seek data distraction from Eurozone uncertainty
Hamilton Spectator
TORONTO Expectations for the Toronto stock market are fairly tame this week as traders continue to labour under the growing possibility of a Greek exit from the eurozone and uncertainty surrounding the knock-on effects such a move would have on other ...

Clegg dismisses immigration claims
Irish Times
British deputy prime minister Nick Clegg dismissed suggestions today that Britain was planning to “pull up the drawbridge” on any exodus of workers from crisis-hit euro zone nations. His intervention came after home secretary Theresa May disclosed that ...

Crisis, what crisis? Have another Ouzo, Greece is staying in the eurozone
Daily Mail
John Cridland, the boss of the Confederation of British Industry, said Britain faced an 'economic earthquake' if Greece left the eurozone. Head of the IMF Christine Lagarde and other bureaucrats have made similar apocalyptic pronouncements.

Daily Mail

EuroCrisis: Run on Banks Expected in Europe
Live Trading News
As the EuroCrisis continues, several possible outcomes have emerged according to Economist Shayne Heffernan. 1. Europe finds the money for a real bail out of Greece, Spain, Italy, Portugal, for now this seems unlikely. 2. Greece leads the mass exit of ...

Live Trading News

Greek Exit from Eurozone Could Undermine the ECB
Greek Reporter
By Andy Dabilis on May 27, 2012 in Economy, News, Politics With growing fears that Greece could be forced out of the Eurozone if voters on June 17 elect parties opposed to the bailout deals from international lenders who required austerity measures in ...

Greece could decide fate of US economy
Philadelphia Inquirer
THANASSIS STAVRAKIS / Associated Press Will Greece exit the eurozone? Hard to believe, but the answer to this question could determine the fate of the US economy this year. Global investors have been driving stock prices down, as odds rise that Greece ...

Eurozone crisis: if Greece goes, Germany's prosperity goes with it
The Guardian
It is only the efforts of the European Central Bank, as a giant recycler of liquidity to dry areas of the eurozone banking system, that is ensuring a stability of sorts. This position can't be sustained. You would be hard-pressed to identify any shift ...

The Guardian

Better for Club Med to stay in eurozone
The Australian
None of that should surprise the leaders of the eurozone. For as former German chancellor Helmut Kohl said, with the euro "integration became irreversible". But that irreversibility is not merely because of the euro's design, which lacks any mechanism ...

Traders look to slew of economic data as distraction from eurozone uncertainty
CanadianBusiness.com
By Malcolm Morrison, The Canadian Press | May 27, 2012 TORONTO - Expectations for the Toronto stock market are fairly tame this week as traders continue to labour under the growing possibility of a Greek exit from the eurozone and uncertainty ...

The Eurozone Crisis For Dummies
Yahoo!7 News
When the financial crisis hit, however, problems came to a head. Debt levels in Portugal, Italy, and Greece became unsustainable, and taxes in a contracting economy are no longer enough to pay the bills. Greece, Portugal, and Ireland are still ...

BSP chief expects banks to resist euro zone woes
BusinessWorld Online Edition
PHILIPPINE BANKS have continued to reduce their exposure to the troubled euro zone and thus the possibility of a further worsening will have a limited impact, Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. said.

Cable: 'Don't lecture eurozone'
BBC News
The UK should learn from Germany's successful economy, rather than lecturing the eurozone, Business Secretary Vince Cable says. He also said that being called a socialist who did not support business was "absolutely ludicrous".

BBC News

Merkel party urges opposition to back fiscal pact
Chicago Tribune
"We have clear-cut conditions in the interest of a stable euro zone and the coalition has to accept them - otherwise there won't be backing from the SPD," SPD deputy party leader Andrea Nahles said on Saturday. Greens parliamentary floor leader Renate ...

Global markets week ahead: Summer of discontent beckons
Pakistan Daily Times
An escalating euro zone crisis and weak data from China and Europe have turned investment flows ever more firmly toward safe-haven assets, mainly in the US, and away from anything with a hint of risk - a trend that is firmly entrenched.

Shadow of the eurozone crisis may accelerate a dive in property prices
The Independent
A difficult spring for the property market could turn into a summer of discontent for house sellers as the eurozone crisis goes from bad to worse. This time of year usually sees a boost in sales as potential buyers begin house hunting but the latest ...

Europe debt crisis and jobs numbers to drive stocks
CNN
Following a three-day weekend (US markets are closed Monday for Memorial Day), uncertainty will continue to swirl over Europe, with the threat of Greece leaving the eurozone still looming. Worries over Greece's future and the broader region's debt ...

Gold, oil rise despite eurozone fears
MENAFN.COM
The yellow metal has falled in two of the past three sessions as investors continue to worry over Greece's fate, and whether it will have to exit from the euro, as well as the fate of the entire eurozone region. For the week, gold was down 1.4 per cent ...

MENAFN.COM

Migrant alert over euro crisis
Scotsman
There are concerns, too, that the contagion could spread to other weak Eurozone countries. In a newspaper interview, May said the government was examining “trends” to see whether immigration was rising from countries with stricken economies.

Scotsman

GLOBAL RECESSION: Mounting signs of deepening global economic slump
Center for Research on Globalization
by Andre Damon New economic figures point to a renewed downturn of the world economy amid a growing debt crisis in Europe and the threatened breakup of the euro zone. The economy of the 17-member euro zone contracted sharply in May, according to the ...

Center for Research on Globalization

EuroCrisis: Greece Decides
Live Trading News
Greek exit from the EuroZone can result in turmoil in the country and create a Domino Effect in the single-currency bloc, a German economist warned in a recent interview. Horst Loechel, professor of economics with Frankfurt School of Finance ...

Live Trading News

A Power Vacuum is Killing the Eurozone — Marginal Revolution
By Tyler Cowen
That is the title of my latest column, here is one excerpt: We thus face the danger that the euro, the world's No. 2 reserve currency, could implode. Such an event wouldn't be just another depreciation or collapse of a.
Marginal Revolution

The Eurozone Crisis For Dummies - Business Insider
By Simone Foxman
Sovereign bonds in the PIIGS countries (Portugal, Ireland, Italy, Greece, and Spain) — which just a few years ago were highly rated — have lost their high ratings, forcing banks to fear big write downs that cripple lending. Investors wary about ...
Clusterstock

Sentences to Ponder on the Eurozone, Arnold Kling | EconLog ...
By Arnold Kling
John Cochrane says it makes no sense for Greece to stop using euros. Well, as long as somebody is willing to lend them euros, yes. But if no one is willing to lend them euros, and they have big budget deficits, and they are not allowed to print ...
EconLog: Library of Economics...

NewsDaily: BOE'S Dale says expects euro zone uncertainty set to ...
Uncertainty in the euro zone will continue for the next few years, acting as a drag on the UK economy, Bank of England policy maker Spencer Dale was quoted as saying in a newspaper on Sunday.
NewsDaily: Business Headlines

MoreLiver's Daily: 27th May - Weekender: Euro Crisis
By MoreLiver
Last November, the Germany's economic advisor council, known as the Wisemen, recommended a redemption fund in the euro zone as an alternative to joint bond proposals and as a strategy to put the region's debt on a sustainable path.
MoreLiver's Daily

Feldstein: Greece Will Leave the Eurozone and Soon
By Robert Wenzel
Feldstein: Greece Will Leave the Eurozone and Soon. My favorite Keynesian economist, Martin Feldstein, in the clip below talks about the euro. He knew the euro was going to be a disaster right from the start. In an article, "EMU and ...
EconomicPolicyJournal.com

In the Euro Zone, a Lethal Vacuum — Economic View – NYTimes.com
By Newswires
AS problems mount in the euro zone, it's increasingly evident that we've been witnessing an institutional failure of monumental proportions. ... The...
The Wall Street Examiner

Time-Consuming US Schools Vs EURO-ZONE Academic Success ...
By Caafaan-u-ma
Time to learn the difference between the words gourmand (glutton) gourmet (connoisseur) and gaspillage (squandering) when it comes to education. With Arizona school hours running from 32 to 35 hours a week for Elementary grades, with ...
Arizona Politics for Conservatives:...

Nick Clegg on Andrew Marr this morning - Eurozone, human rights ...
By Caron
Nick Clegg on Andrew Marr this morning - Eurozone, human rights, immigration and vested interests. Another superb performance from Nick Clegg on Andrew Marr this morning. As befits someone who was there when the Euro was born, ...
Caron's Musings

Bank of England governor Sir Mervyn King hosts secretive summit ...
By Jean
The eurozone is paralysed as it awaits the outcome of elections in Greece on June 17. The left-wing Syriza party is leading in the polls and is pledged to reject austerity. Hawks led by Germany insist that Greece must stand by the cuts ...
2012: What's the 'real' truth?

Meade-Swann and how two simple lines perfectly illustrate the ...
By Marcus Nunes
I won´t mention Greece. It´s the Eurozone “free-rider” par excellence and will likely only leave the euro if expelled! Let´s take a more representative agent, Spain, whose people are beginning to consider “life outside the zone”. Why´s that?
Historinhas

Inside Job: On Wall Street and the 2008 Financial Crisis
By Rohit
Caliber Magazine is UC Berkeley's award-winning entertainment and lifestyle magazine.
Caliber Magazine

Eurozone crisis: if Greece goes, Germany's prosperity goes with it ...
By Gerry Davies
'If the eurozone were to shrink, Germany's once-captive markets would become too poor to import: and the rapid appreciation of a stronger euro would make its.
ForexLive

Spain region, Greek exit warnings rattle euro zoneeShareholder ...
By Yahoo! Finance: Top Stories
Greece accounts for little more than 2 percent of the euro zone economy but could pose a profoundcontagion threat if it quit the currency area, throwing the spotlight on Portugal, Spain and even Italy. "There is no organized discussion at the ...
eShareholder

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