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

Wednesday, May 23, 2012

OECD sees eurocrisis threatening world recovery

OECD sees euro crisis threatening world recovery
Reuters
By Leigh Thomas | PARIS (Reuters) - The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the euro zone fails to contain the damage from its problem debtor states, ... 

Search Shifts for Euro Zone Relief
New York Times
Certainly the renewed sense of crisis escalated Tuesday, as the Organization for Economic Cooperation and Development cut its growth forecast for the euro zone and said Europe risked creating a self-sustaining cycle of decline that could have dire ...

OECD Slashes Euro-Zone Growth Forecast
Wall Street Journal
By GEOFFREY T. SMITH And WILLIAM HOROBIN PARIS—The Organization for Economic Cooperation and Development Tuesday slashed its forecasts for growth across the euro zone for this year and next, and warned that the area's debt crisis could pull it into a ...

Eurozone warned 'severe recession' looming
The Associated Press
By GREG KELLER, AP Business Writer – 1 hour ago PARIS (AP) — The 17-countryeurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central ...

The Associated Press

OECD concerned that eurozone crisis could threaten world recovery (+video)
Christian Science Monitor
The Organization of Economic Cooperation and Development said Tuesday theeurozone must get member nations with debt problems under control, so as to not pose problems for a less than robust world economic recovery. By Leigh Thomas, Reuters / May 22, ...

Christian Science Monitor

Germany, France draw battle lines over eurozone bonds
Reuters
By Noah Barkin and Leigh Thomas | BERLIN/PARIS (Reuters) - Germany dismissed a French-led call for euro zone nations to issue common bonds, a day before a European Union leaders' summit which investors are looking to for new measures to counter the ...

Euro zone risks vicious circle of debt: OECD
Reuters
PARIS (Reuters) - The OECD called on EU leaders on Tuesday to ease the pace of austerity, saying aggressive budget cuts to curtail the euro zone's debts threaten to suck the currency area into a downward spiral that could spill over into the global ...

Euro zone risks vicious circle of debt - OECD
Reuters
OECD sees euro zone economy shrinking 0.1 pct in 2012 * Paris-based group cautions against aggressive fiscal cuts * OECD pushes growth agenda as EU leaders to meet in Brussels PARIS, May 22 (Reuters) - The OECD called on EU leaders on Tuesday to ease ...

OECD Sees Euro-Zone Crisis Hurting World Recovery
New York Times
PARIS — Global stocks rose on Tuesday, even as the Organization for Economic Cooperation and Development cut its growth forecast for the euro zone and said Europe risked creating a self-sustaining cycle of decline that could have dire effects for the ...

Greece's leftist Syriza leader warns insisting on austerity threatens eurozone ...
Washington Post
BERLIN — The leader of a radical left Greek coalition some see as the front-runner in fresh elections due next month warned the EU Tuesday that austerity measures championed by Germany could ultimately bring down the eurozone as a whole.

Euro zone consumer confidence rises in May
Reuters
BRUSSELS, May 22 (Reuters) - Euro zone consumer confidence nudged higher in May, figures released on Tuesday showed, though inflation and unemployment continued to temper improvements in sentiment. The European Commission said a flash estimate showed ...

MARKET COMMENT: Europe Stocks Rally On Global Growth Hopes
Wall Street Journal
By Barbara Kollmeyer and Sara Sjolin LONDON (Dow Jones)--Gains for resources and banks boosted European stocks Tuesday as investors rushed to risky assets amid hopes China and theeuro zone will take action to boost economic growth and combat signs of ...

OECD joins call for eurozone bonds
CNN
In its twice-yearly economic outlook, the Paris-based international organisation which specialises in economic policy for advanced economies, warned of a vicious circle in the eurozone, "involving high and rising sovereign indebtedness, weak banking ...

IMF's Lagarde Calls for Eurozone Debt Sharing
Voice of America
The chief of the International Monetary Fund is calling for the 17-nation euro currency bloc to accept more liability for each others' debts, but economic powerhouse Germany says it remains adamantly opposed to selling joint eurozone bonds.

Voice of America

Eurobond clash set for EU summit
MarketWatch
FRANKFURT (MarketWatch) — François Hollande and German Chancellor Angela Merkel appeared set for a clash later this week as the new French president signaled he would make a pitch for jointly-issued euro-zone government bonds when European leaders ...

IMF Chief, OECD Call For More Euro Debt Sharing
Wall Street Journal
By GEOFFREY T. SMITH LONDON—International Monetary Fund head Christine Lagarde Tuesday called on euro-zone governments to accept more common liability for each other's debts, saying that the region urgently needs to take further steps to contain the ...

Wall Street Journal

Greek Pro-Euro Zone Alliance Seeks Traction for New Elections
Pittsburgh Post Gazette
By NIKI KITSANTONIS / The New York Times ATHENS -- Less than a month before new general elections that could determine Greece's future in the euro zone, the conservative New Democracy Party secured cooperation with a small liberal grouping on Monday in ...

MONEY MARKETS-Calmer before EU summit, but Greek worries remain
Reuters
At an informal summit on Wednesday, policymakers are also expected to discuss the idea of common euro zone bonds. The sound of these words is appealing to markets, but many analysts warn that Germany's long-standing position against the idea of debt ...

Eurozone risks 'severe recession,' OECD warns
CBC.ca
The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Co-operation and Development warns, calling on governments and Europe's central bank to act quickly to stop the slowdown spilling over into the global ...

CBC.ca

Greek party leader warns austerity threatens euro
The Associated Press
Tsipras said Tuesday that, under his leadership, Greece would ditch the terms of the bailout agreements struck with its creditors, but would not actively seek to leave theeurozone. "To the contrary, it would mean that we have a chance of saving the ...

The Associated Press

Euro Crisis: Why A Greek Exit Could Be Much Worse Than Expected
TIME
By Michael Sivy | @MFSivy | May 22, 2012 | + At the Camp David G8 meeting last weekend, lip service was paid to keeping Greece in the euro zone. But economists who watch the continuing financial crisis in Europe are increasingly coming to two ...

TIME

OECD warns risk of 'severe recession' in eurozone
Fox News
PARIS – The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to stop the slowdown spilling ...

OECD: Europe debt could derail global recovery
CNN
The OECD issued the warning as it also cut its economic outlook for the eurozone this year. It now forecasts a decline of 0.1% in the 17-nation block that uses the common currency; it previously had expected growth of 0.2%. It also cut its forecast for ...

Eurozone crisis threatens world economy, groups says
Catholic Online
By Catholic Online (NEWS CONSORTIUM) According to Organization for Economic Development and Co-operation, the eurozone financial crisis could threaten the global economy. In a report released this week, the organization says that the 17-nation eurozone ...

Germany reiterates opposition to jointly guaranteed debt for eurozone ahead of ...
Washington Post
BERLIN — Germany is making clear ahead of a European Union summit that Chancellor Angela Merkel's government remains staunchly opposed to the idea of jointly issued bonds for the 17-nationeurozone. At Wednesday's informal meeting of the EU's 27 ...

News Summary: Eurozone warned of recession risk
CBS News
GRIM WARNING: The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned as it called on governments and Europe's central bank to keep the slowdown from dragging down the global ...

Are euro bonds the answer?
CNN (blog)
By Paul Ames, GlobalPost French President Francois Hollande thinks he's found a solution to theeurozone crisis: the name's Bonds. Euro bonds. At a eurozone summit Wednesday, the new French leader plans to revive proposals for bonds that would be ...

Euro Crisis Could Derail Global Growth, OECD Warns
NASDAQ
(RTTNews.com) - The global economic recovery is fragile and could be derailed by the ongoingEurozone debt crisis, the Organization for Economic Co-operation and Development (OECD) warned in its latest economic outlook report, released Tuesday.

QE3 "Not Off the Table" as Euro Crisis Gives Gold Significant Upside ...
Greece Exit, Euro-Zone Collapse, Spain and Portugal Will Follow Within 6 Months - Nadeem_Walayat. 2.Anti-Gold Propaganda Push, Gold Cover Clause for Enabling Competing New Currencies - Jim_Willie_CB. 3.France and Greece Voters ...
The Market Oracle

NewsDaily: Germany, France draw battle lines over eurozone bonds
By Noah Barkin and Leigh Thomas
Germany dismissed a French-led call for euro zone nations to issue common bonds, a day before a European Union leaders' summit which investors are looking to for new measures to counter the bloc's debt crisis.
NewsDaily: Business Headlines

Calculated Risk: New Push for Eurozone Bonds
By CalculatedRisk
France is determined to push the idea of jointly guaranteed bonds as a new form of borrowing foreurozone countries despite Germany's opposition, Pierre Moscovici, finance minister, said in Berlin on Monday. Speaking after a first intensive ...
Calculated Risk

Mutually assured destruction in the eurozone | The A-List
By Jean Pisani-Ferry
The A-List from the Financial Times provides timely, insightful comment on the topics that matter, from globally renowned leaders, policymakers and commentators.
The A-List

Eurozone warned 'severe recession' looming | Washington Examiner
By The Associated Press
PARIS (AP) — The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the ...
Examiner This is a gallery for...

Eurozone Decline Resonates In S. Fla. & Presidential Campaign ...
By cbs4kephart
South Florida has relied on tourism to keep the area growing during the Great Recession. But, one key group of tourists, Europeans may be about to undergo even more economic hardship that could impact tourism and U.S. politics in an ...
CBS Miami

Eurozone Bank Market Capitalization Has Been Absolutely ...
By Max Nisen
It captures bank market capitalizations as a percentage of total market capitalization. From the post: "...eurozone bank valuations now make up only 8% of the eurozone's total market capitalization, the lowest level in nearly 40 years and down ...
Business Insider

OECD joins call for eurozone bonds – Financial Times | The Wall ...
By Newswires
Telegraph.co.ukOECD joins call for eurozone bondsFinancial TimesBy Chris Giles in London The Organisation for Economic Co-operation and Development has joi...
The Wall Street Examiner

22nd May 2012: Hollande – The New Canary In The Eurozone Mine ...
By TIP
22nd May 2012: Hollande – The New Canary In The Eurozone Mine. May 22, 2012 TIP Leave a comment Go to comments. Merllande. Quote of the Day: No one is preventing Hollande going ahead with joint bonds for France and Monti for Italy ...
Market Nightshift

G8 wants Greece to remain in eurozone - Americas - Al Jazeera ...
President Barack Obama calls for focus on growth and fiscal consolidation aseurozone crisis ...
www.aljazeera.com/.../2012519173652632938.html?...

Eurozone should form political union, says Germany's ECB ...
Former deputy finance minister Jörg Asmussen calls for closer ties as Germany reacts angrily to eurobonds pressure.
www.guardian.co.uk/.../eurozone-political-union-germany-fir...

Cameron 'posturing' is exacerbating eurozone crisis, says Balls ...
Shadow chancellor's attack comes after PM says contingency plans have to be made for Greece leaving the euro.
www.guardian.co.uk/.../david-cameron-posturing-eurozone-b...

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