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

Monday, May 14, 2012

Week ahead - Back into the Euro-zone storm

Global Economy Weekahead: Back into the euro-zone storm
Reuters
"The question for 2012 is whether the euro zone will limp through without anything worse than the kind of slow-motion recession underway now," said David Levy, chairman of the Jerome Levy Forecasting Center. A week after 70 percent of Greece's ...

Greek exit from eurozone 'possible'
CNN International
By Ralph Atkins, FT.com Brussels (Financial Times) -- Greece's exit from the eurozone "would be possible," even if not in Europe's interest, and countries should have a democratic right to quit, according to a member of the ECB's governing council.

Eurozone: the austerity allergy
The Guardian
Greece's ousted administration is just one of 10 in the eurozone to be booted out over the last year. In Italy, an anti-establishment comedian, Beppe Grillo, has just snapped up a sizeable wedge of the vote in local polls.

Euro zone turmoil boosts London property stampede
Chicago Tribune
The number of Europeans buying property in London has grown steadily over the last year as theeuro zone debt crisis has worsened but numbers spiked ahead of elections in Greece last weekend that failed to produce a government.

US at Risk From Euro Zone's Latest Woes
Wall Street Journal
By SUDEEP REDDY During bouts of European turmoil in the past two years, US financial markets regularly stumbled and growth ebbed due to fears of a euro-zone meltdown. But Europe muddled through and avoided calamity, and the effects on the US economy ...

Financial crisis threatens Europe's storied way of life
Green Bay Press Gazette
AP Elections in France and Greece reflect the anger and disillusionment coming to the surface across Europe as an entire way of life is challenged. The European landscape is undergoing profound change — from its sophisticated lifestyle to its ...

Fear grows of Greece leaving euro
Financial Times
By Ralph Atkins in Frankfurt Eurozone central bankers have talked publicly for the first time of managing a possible Greek exit from Europe's monetary union as stalemate in Athens talks on a coalition government raises the prospect that Greece will ...

Eurozone was troubled from birth, experts say
Arizona Daily Star
The financial crisis has erased those attempts at unity, said European political expert Richard Whitman of the University of Kent in England. "This first cut has released all the old demons," Whitman said. "We're back to calling the Greeks lazy, ...

Germany Waving the Euro-zone White Flag, Viva Los Rescates Financieros de los ...
The Market Oracle
For quite some time in this letter I have been making the case that for the eurozone to survive, the European Central Bank would have to print more money than any of us can now imagine. That the sentiment among European leaders was that they were ...

EU leaders set for showdown on fate of euro as crisis deepens
The Guardian
While eurozone finance ministers are to meet on Monday in Brussels, apparently at a loss over how to respond to political paralysis in Greece and a worsening crisis in Spain, all eyes are on Fran├žois Hollande, the new French leader, who is to go to...

The Guardian

Europe paying now for its political currency
The Seattle Times
By Matthew Schofield The euro project, pushed to be as inclusive as possible, glossed over national differences and then didn't enforce the rules all members signed in order to join theeurozone. European Union (EU): 27 nations, mostly in Europe, ...

Eurozone fears
Times of India
The fear is that the Greek vote against fiscal austerity and reforms will ultimately foist a new government that disowns the EU-IMF bailout package, leading to Greece's eventual exit from the eurozone. The possibility of a resurgence of anti-austerity ...

FT interview transcript: Luc Coene
Financial Times
A transcript of the interview follows: Financial Times: Given recent developments in Greece, does the eurozone need an exit clause? Luc Coene: Preferably not. The ideal would be if all member states stayed in the club – that would be best for everyone, ...

The final death throes of the euro
Telegraph.co.uk
The euro crisis is entering its final stages. Economic pain is now interacting with political resistance to produce intense financial pressure. I expect Greece to leave the euro – and perhaps very soon. A two euro coin mint is seen through a magnifying ...

Telegraph.co.uk

Syriza Risks Greek Euro Zone Membership as They Reject Government Coalition
PolicyMic
In the light of Greece's recent history, we can ask ourselves a simple question: "Why did Greece enter the EU, and a fortiori the euro zone with this level of credibility and robustness?" The answer's also very simple. France and Germany co-opted ...

PolicyMic

Greece euro zone exit, party leader meet with president
Agenzia Giornalistica Italia
"The Greek people showed its willingness to have a government that may collaborate and change the (austerity) policies and stay in the euro zone." Greek TV showed that President Papoulias was chairing the meeting, with Samaras and Venizelos, ...

Shades of Weimar? Only the ECB Can Save Europe – John Mauldin
Wall Street Journal (blog)
John Mauldin didn't miss it, and what it means, he said in his weekly newsletter, is one thing: The Germans have accepted the notion that the only institution with the wherewithal to save theeurozone is the European Central Bank, and the only way ...

Euro Zone Can Manage An Exit By Greece: ECB Official
International Business Times
By JJ McGrath: Subscribe to JJ's RSS feed With the call for a fresh round of snap elections to the Hellenic Parliament appearing closer by the hour, European central bankers are getting ready for the possibility Greece may depart the euro zone.

International Business Times

Kuoni preparing for Greek euro zone exit -report
Reuters
ZURICH May 13 (Reuters) - Kuoni is preparing for Greece to exit the euro zone in talks with its local business partners, the travel operator's chief executive said in Sunday's edition of Sonntagszeitung. "Greece is a typical summer destination, ...

Dixons prepares for Greek eurozone exit
Financial Times
Sebastian James, chief executive, has warned of a “difficult” transition were Athens to quit the eurozone, but said Dixons could benefit as many of its local competitors would be weakened and unable to withstand the upheaval.

Financial Times

How Greece could leave the eurozone – in five difficult steps
The Guardian
Mass unemployment in Greece, inflation at 50%, a devastating recession and Greeks heading for the borders – that's the apocalyptic scenario being painted by some economists in the increasingly likely event that Greece leaves the eurozonein coming ...

The Guardian

same old euro crisis as Hollande sworn in
Economic Times
There, in a cautious first encounter, France's new Socialist leader will try to find common ground with Germany's conservative leader Angela Merkel, despite their widely differing views on how to deal with eurozone deficits. France is the world's fifth ...

Fears of Greek eurozone exit
Times of Malta
Photo: AFP Greece's President Carolos Papoulias is to meet political party chiefs today in a last-ditch attempt to form a cabinet after inconclusive elections that have raised fears of a Greekeurozone exit. “The president will summon party leaders in ...

3 ETFs For A Eurozone Double Dip
Seeking Alpha
By Daniela Pylypczak To say the least, the world economy has had a bumpy ride since the onslaught of the unprecedented financial crisis that rocked the world in 2008. Despite several glimmers of hope in the United States' ability to bounce back, ...

Default now or default later?
Financial Times
He wants Greece to cancel the programme immediately, reverse some of the reforms and consider the possibility of a default on the remaining foreign debt. He claims this would not lead to an exit from the eurozone. He is saying that the EU is bluffing.

Influential German magazine calls for Greek exit from euro
Reuters
In a sign Germany is coming to terms with a possible Greek departure, senior players in both business and political communities said this week the euro zone could survive without Greece because the bloc is now more resilient to shocks.

As Europe's economic outlook darkens, US risks grow
Kansas City Star
Investors worry that some eurozone governments are unwilling to give their economies the bitter medicine needed to arrest their debt, and that they may eventually default on their debt or seek renegotiation with their lenders.

Should Greece be kicked out of the eurozone?
Times of Malta
Kicking Greece out of the eurozone would not solve the EU's financial crisis. Other countries, such as Spain and Portugal, are following in Greece's footsteps. The key to improvement would be helping such countries to promote investment as opposed to ...

The week ahead: Pressure from slowing economic conditions, eurozone turmoil
Hamilton Spectator
TORONTO The Toronto stock market looks set for another tepid showing this week with buyers discouraged by data showing further deterioration in economic conditions and rising uncertainty from the eurozone. Market performance is also starting to look ...

A black mark for survivor of financial crisis - seattlepi.com
Making the black eye worse for Dimon, the loss came in derivatives trading, the complex financial maneuvering that — on a much greater scale — led to large losses and dissolved banks during the financial crisis. Dimon "staked so much of his ...
Business Heds Index

Fuel Fix » Greek exit from eurozone 'possible'
By FT.com - Energy
Greek exit from eurozone 'possible' ... Luc Coene, central bank governor of Belgium, tells the FT that eurozone members should have a democratic right to quit single currency if they choose. Read more from Financial Times ...
Fuel Fix

An unprecedented financial crisis is lurking on the horizon as Market ...
By The Extinction Protocol
As the below graph illustrates that following the financial crisis of 2008, Greece had been following a similar economic trend trajectory to that of most western economies including that of the UK, US and Germany, however the real crisis began ...
The Extinction Protocol: 2012 and beyond

Greece Exit, Euro-Zone Collapse, Spain and Portugal Will Follow ...
By MRH
However to be able to print money inline with the true state of the respective competitiveness ofeuro-zone economies, then these countries governments have no choice but to exit the euro-zone, or be forced out as they one by one fail to ...
SGTreport - The Corporate Propaganda...

What Americans can Learn from Eurocrisis | Michael Hudson ...
By Newswires
via The Real News Network, What Americans can Learn from Eurocrisis, reposted with permission. Bio Michael Hudson is a Wall Street Financial ...
The Wall Street Examiner

Michael Hudson: What Americans can Learn from Eurocrisis + ...
By dandelionsalad
What Americans can Learn from Eurocrisis. *. Transcript. PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Washington. Headlines around the world greeted the election results in Greece and France as ...
Dandelion Salad

NBC Politics - Video: Analyzing the financial crisis
Sen. Carl Levin and CNBC's Andrew Ross Sorkin discuss JPMorgan Chase's $2 billion trading loss and how it could have been prevented.
Newsvine - NBC Politics - Articles

Greek Exit from Eurozone 'possible' | iBC_FN | iBankCoin Financial ...
By Woodshedder
As lawmakers grow weary of waiting on Greece to put into place reforms, the ECB is facing the distinct possibility that Greece may exit the Eurozone. The ECB would suffer massive financial losses, and the results of an exit could be disastrous.
iBC_FN | iBankCoin Financial News

GLOBAL ECONOMY WEEKAHEAD-Back into the euro-zone ... - XE
Greece ditching the euro, huge tax hikes and spending cuts in the United States in 2013, plus a showdown over Iran's nuclear ambitions are three big political risks looming over a global economic recovery that looks more uncertain by the ...
XE Forex News

Greece's EUR Exit Will Cost Euro-zone Countries €276 Billion ...
By From efxnews.com
Greece's EUR Exit Will Cost Euro-zone Countries €276 Billion - Euro-zone countries will absorb up to €77 Billion in direct losses if Greece leaves the euro-zone and defaults on its remaining debt, German Magazine Wirtschafts Woche reported ...
Forex Factory

How Greece's euro-crisis could affect your holiday ...
By JoseEsp
How Greece's euro-crisis could affect your holiday. Posted in Top Stories | May 13th, 2012. There are getting on for two million UK citizens for whom Greece's deepening political and economic crisis is becoming a personal, nagging worry.
republicainaguantable.com

Better Gig Than Eurozone Leader - Pundit Kitchen: Lol News and ...
By Cheezburger Network
Better Gig Than Eurozone Leader. x. Share. political pictures - Ms. Bruni's new tour manager. Ms. Bruni's new tour manager. (Nicolas Sarkozy and Carla Bruni). LoL by: hanschka. Picture by: Unknown. » Recaption This! » View All Captions ...
Pundit Kitchen: Lol News and...

Equities to face pressure from slowing economic conditions, eurozone
By Malcolm Morrison
The Toronto stock market looks set for another tepid showing this week with buyers discouraged by data showing further deterioration in economic conditions and rising uncertainty from theeurozone. Market performance is also starting to look ...
iPolitics

Gold, Silver Lower on Eurozone Elections | InvestorPlace
Renewed concerns about eurozone sovereign debt added to recent data indicating a slowdown in U.S. economic growth.
www.investorplace.com/.../gold-silver-lower-on-eurozone-elec...

The Euro-Zone Becomes the Twilight Zone | ZeroHedge
Rod Serling is not doing the narration for the e-Zone unravel. And he will never turn the control of your television set back to you. It's just going to start getting ...
www.zerohedge.com/...19.../euro-zone-becomes-twilight-zone

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