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

Monday, May 7, 2012

Greek and French voters reject eurozone austerity

Greek voters reject eurozone austerity in
Sydney Morning Herald
AP Greek voters have dealt a blow to eurozone hopes that Athens will stick to its austerity commitments as parties opposing more cuts, including neo-Nazis, won almost 60 per cent support at the polls. According to updated exit polls, ...

Victorious French left reclaims the Bastille | Reuters: "Sarkozy conceded defeat in a speech to them within 20 minutes of polls closing and his supporters rapidly melted away. As they dispersed, one man held up a French tricolor flag with the words "Thank you, Nicolas" printed on it. Around him a chant sprung up of "Now we are screwed.""

Eurozone nail-biter as Greece votes
Khaleej Times
Greeks vented their anger Sunday at painful austerity cuts in an election that threatens to unleash a seismic shift in the crisis-hit country's political landscape — and aftershocks for theeurozone. After two years of painful austerity cuts and two ...

Crisis-hit eurozone gives many leaders the boot
Fort Worth Star Telegram
Two years later, at the height of Greece's worst financial crisis since World War II, Papandreou's own deputies force him out after he endangers a hard-won bailout by announcing he would put it to a referendum. A month after Portugal requests a 78 ...

Fort Worth Star Telegram

For US Equity Bulls, Beware of the Eurozone Minator!
Forbes
But, as we get past earnings season, and what might be a stuttering or a consolidation in US Economic recovery, we would do well to keep one eye (if not both) trained on the machinations inEurozone politics. One might almost say that as important as ...

Greece votes as anxious eurozone looks on
Outcome Magazine
05/06/2012 Greeks voted Sunday in a tough-to-predict general election that threatened to turn the crisis-hit country's old political system on its head and bring eurozone turmoil back with a vengeance. After two years of austerity cuts, polls indicate ...

Greek voters angered over financial crisis punish 2 main parties; no majority win
Sun-Sentinel
DEREK GATOPOULOS, ELENA BECATOROS AP ATHENS, Greece (AP) — Greeks angered by a vicious and protracted financial crisis punished their two main parties in national elections Sunday, with exit polls projecting them both hemorrhaging support and no party ...

Can This Man Save The Eurozone Economy?
Slate Magazine (blog)
That the Eurozone is simply an unworkable enterprise and that European voters simply lack the sense of common identity and solidarity that are necessary for such a large and diverse place to share a single system of economic management.

Uncertainty Looms in Greece After Electorate Rejects Austerity Measures
Wall Street Journal (blog)
“We are probably entering a period of political instability which we can't afford as our place ineuro zone is being questioned.” Pasok and the conservative New Democracy party have dominated Greek politics since 1974, taking turns in ruling the ...

Voters to weigh in on eurozone crisis
Tampabay.com
"Democracy is on its way into the euro crisis," said Hugo Brady of the Brussels office of the London-based Center for European Reform. Today's elections are likely to see new leaders brought to power on pledges to revisit their countries' strict ...

Tampabay.com

Eurozone jitters as Greece votes in election
The Sun Daily
ATHENS (May 6, 2012): Greeks vote in an early general election Sunday that threatens to turn the country's decades-old political system on its head and bring the eurozone crisis back with a vengeance. After two years of austerity cuts, polls indicate ...

The Sun Daily

Global financial crisis
GreaterKashmir.com
The so called PIIGS (Portugal, Italy, Ireland, Greece and Spain) continue to suffer from varying degrees of political and economic uncertainty. Instability in the Eurozone region has been the single most significant event which has kept Economists ...

Greece heads to early election amid eurozone turmoil
The Australian
GREEKS are voting in an early general election that threatens to turn the country's decades-old political system on its head and bring the eurozone crisis back with a vengeance. After two years of austerity cuts, polls indicate that voters are set to ...

Greek Polls: Chance Of A Hung Parliament Raises Concerns Over EurozoneFuture
International Business Times
The situation is dreaded by the government and its international lenders, as any move to derail the bailout package will reignite the Eurozone crisis. Major lenders for the bailout package, Germany and IMF, have already warned Greece about the ...

International Business Times

Italian Local Elections Testing Voter Sentiment
Wall Street Journal (blog)
The euro zone crisis has flared up again, and Italy's debt market remains extremely vulnerable given the contagion from Spain and doubts about the strength of domestic demand at government bond auctions,” said sovereign risk analyst Nicholas Spiro of ...

The only plausible solution to the eurozone crisis
Financial Times
It is easy to solve the eurozone crisis on a piece of paper. I have done it many times. It is also easy to invent new institutions: a fiscal union, a treasury secretary, a common sovereign bond and a banking union. I would welcome most of these.

Greece votes as anxious euro zone looks on
Straits Times
Angry Greek voters head to the polls on Sunday for an election shrouded in uncertainty that could reignite Europe's debt crisis and renew doubts about the country's future in the euro zone. -- PHOTO: REUTERS ATHENS (AFP) - Greeks voted on Sunday in a ...

Straits Times

Big Troubles In Eurozone: Debt Starts With 'D' And That Rhymes With 'Flee'
Seeking Alpha
By Jim Allen, CFA I hadn't been paying particularly close attention to more than high-level issues related to the euro crisis of late. That was until a couple of articles caught my eye on the capital flows between member states and the headaches and ...

Sexual assault center faces financial crisis, possible closure
Victoria Advocate
In addition to Hope of South Texas, other agencies and governmental entities in the Crossroads receive grants from the Compensation to Victims of Crime Fund. The allocations in 2011: In addition to Hope of South Texas, other agencies and governmental ...

Greece polls to decide fate of country, euro zone
TODAYonline
Pollsters say the result of today's poll is impossible to predict, aggravating fears of political chaos that could revive a euro zone debt crisis that Greece first unleashed in 2009. The local media underlined the importance of the vote as a ban in ...

Greek vote to tip balance in EU crisis
RT
Former Finance Minister Evangelos Venizelos, now head of PASOK, warned the Greek public that the country could face expulsion from the eurozone should anti-bailout parties take power. "Sunday will decide whether we remain in Europe and the euro, ...

RT

Eurozone: Fiorentina coach Delio Rossi cuffs Serbian striker Adem Ljajic ...
Liverpool Echo
by Neil Jones, Liverpool Echo MANAGERIAL spats are nothing new – see Alex Ferguson and Roberto Mancini this week for proof – but Fiorentina's Delio Rossi took things to a new level on Wednesday night. He would eventually pay with his job.

Timeline: The Tough Road to Greece's Elections
Wall Street Journal (blog)
May 2010: Greece seals €110 billion bailout from euro-zone countries and the International Monetary Fund. – June 2011: Greek parliament votes in five year austerity program, Socialist government reshuffles cabinet. – November 2011: Socialist Prime ...

Pro-austerity blow in Greek vote, neo-Nazis gain seats
AlterNet
Greece's two main parties suffered big losses in elections Sunday, exit polls showed, rocking the eurozone state's austerity plans after a strong showing by protest groups including the neo-Nazis. People walk by the Greek parliament in Athens.

AlterNet

Schäuble backs wage rises for Germans
Financial Times
By Chris Bryant in Frankfurt Germany's finance minister has backed wage increases for the country's workers in what may be seen as an olive branch to critics who argue that weak German consumption has exacerbated the eurozonedebt crisis.

Financial Times

Greek election returns show bailout at risk
Reuters
By Lefteris Papadimas and Karolina Tagaris | ATHENS (Reuters) - Greek voters enraged by economic hardship deserted traditional governing parties in droves at elections on Sunday, putting the country's future in the euro zone at risk, according to an ...

Greeks maul pro-bailout parties: exit polls
Baltimore Sun
ATHENS (Reuters) - Greek voters enraged by economic hardship deserted governing parties in droves in an election on Sunday, according to exit polls that threw doubt on the country's future in the euro zone. Polls by six different pollsters indicated ...

Economic growth slower than expected due to continued eurozone crisis: KDI
The Korea Herald
South Korea's economic growth slowed in March due mainly to the mining and manufacturing industry showing lackluster growth affected by the eurozone debt crisis, a state-run think tank said Sunday. The eurozone crisis has adversely affected South ...

Greek poll spells new eurozone crisis and chaos in financial markets
This is Money
By Dan Atkinson Greek elections today could trigger a fresh crisis in the eurozoneand plunge London and other financial markets into chaos. The country goes to the polls amid fears that a poor showing by mainstream parties could make it difficult for ...

This is Money

Eurozone: Ajax seal 31st Dutch title
Liverpool Echo
by Neil Jones, Liverpool Echo AJAX are celebrating their 31st Dutch championship title, after sealing their second successive triumph in ruthless style. Frank De Boer's men have embarked upon a run of 13 straight league wins, and sealed the title with ...

Eurozone jitters as Greece votes in election
By Agence France-Presse
Greeks vote in an early general election Sunday, May 6, that threatens to turn the country's decades-old political system on its head and bring the eurozone crisis back with a vengeance.
RAPPLER

Highway to Hell – Eurozone Edition - Blogging Blue
By Phil Scarr
Germany benefited from happenstance and now expects the rest of the Eurozone to follow yet believes it was a virtue of their virtue and not a lucky alignment of the economic stars. Nothing could be further from the truth. But hey, what could ...
Blogging Blue

France – Sarkozy is 11th Euro Zone Leader to Lose Due to Debt ...
By Yossi Gestetner
French Socialist candidate François Hollande won Sunday's presidential runoff, defeating incumbent Nicolas Sarkozy after a hard-fought campaign that pitted two radically different personalities against each other, according to estimates of ...
Gestetner Updates

Book Review: Financial Turmoil in Europe and the US: Essays, by ...
By Blog Admin
As the financial crisis spreads, Soros lays out the need for both a rescue and stimulus package (as in the article 'America Needs Stimulus not Virtue'). This is an interesting position to take, having spent much of the introductory chapter arguing ...
EUROPP

mainly macro: What the ECB needs to do
By Mainly Macro
What would a hypothetical Eurozone government (or, to use jargon, a Eurozone social planner) do with monetary and fiscal policy in the current crisis? An initial discussion along these lines involving Kantoos and myself has widened recently ...
mainly macro

The next victim of the eurozone crisis: Sarkozy | Firstpost
By hidden
Almost every crisis-hit European country that has held an election since disaster struck in 2009 has thrown out its leader. Here's a look at countries where political careers have been destroyed by the crisis.
Firstpost

Eurozone nail-biter as Greece votes | Pakistan News
By AFP
ATHENS - Greeks vented their anger Sunday at painful austerity cuts in an election that threatens to unleash a seismic shift in the crisis-hit country's.
Pakistan News

Greeks maul pro-bailout parties: exit polls | Antigua Observer ...
By efrancis
ATHENS (Reuters) – Greek voters enraged by economic hardship deserted governing parties in droves in an election on Sunday, according to exit polls that threw doubt on the country's future in the euro zone. Polls by six different pollsters ...
Antigua Observer Newspaper

Sunday Politics interview with Andrew Neil « Ed Balls – Labour MP ...
By Ed's team
Now the Chancellor said on Andrew Marr this morning that the economy has been weakened by the Eurozone crisis, high oil prices and a bigger than expected dampening effect of the deficit and all the debt. Do you deny that these are ...
Ed Balls - Labour MP Blog

Infidel Bloggers Alliance: France and Greece Choose Socialism
By midnight rider
Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries. Exuberant Hollande supporters have already converged on Place de la Bastille in Paris ...
Infidel Bloggers Alliance

Financial Crisis | Main Justice
Financial Crisis Probes Not Over · Holder, Breuer Represent DOJ In Financial Crisis Hearing · Tribe: Gap in Justice a 'Dramatically Understated' Crisis ...
www.mainjustice.com/2012/05/04/financial-crisis/

Private-Sector Loan Growth Slows in Euro Zone - WSJ.com
Bank lending to euro-zone businesses expanded at a slower pace in March, indicating that the European Central Bank's three-year loans to banks have yet to ...
online.wsj.com/.../SB10001424052702303916904577375242...

Euro-zone April composite PMI posts steep fall - MarketWatch
FRANKFURT (MarketWatch) -- A contraction in private-sector business activity across the 17-nation euro zone accelerated sharply in April, according to the ...
www.marketwatch.com/.../euro-zone-april-composite-pmi-pos...

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