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

Saturday, June 30, 2012

Eurozone Bailout: It Still Might Not Work

Eurozone Bailout: It Still Might Not Work
Forbes
Overnight we got the news that the euro, the eurozone, is saved. There will now be direct buying of bonds of the troubled sovereigns by the European Stability Mechanism, the ESM. Further, that the ESM purchases will not have seniority, but will rank ... 

Euro Zone Takes Radical Decisions, But Implementation Risks Loom
Wall Street Journal
BRUSSELS--European leaders' radical new measures Friday to tackle the euro zone's debt crisis -- which promise to use their sizeable rescue funds more flexibly and pave the way for the European Central Bank to assume an expanded role as supervisor for ...

Markets rally after defeat for Merkel - Telegraph: "Traders celebrated an unexpected defeat of Angela Merkel’s austerity strategy at the Brussels summit, despite warnings that the deal reached by European leaders would be insufficient to arrest the crisis."

Ambush from Italy and Spain forces Angela Merkel to dilute euro deal - Telegraph: "Angela Merkel was forced into a humiliating about-turn after being ambushed at a European Union summit by a new Latin alliance of France, Italy and Spain." 

Euro-Zone Bonds Rally
Wall Street Journal
Euro-zone government-bond investors welcomed steps European leaders agreed to take to rein in Spanish and Italian borrowing costs, sending yields on both countries' debt lower.

Wall Street Journal

Euro-Zone Economic Outlook Remains Weak
Wall Street Journal
The European Central Bank might have to take more action to spur growth in the euro zone after data suggested that German consumers are beginning to feel the strain of the debt crisis and the ECB's earlier injections of cash haven't borne fruit.

Markets rebound after eurozone deal
Financial Times
Financial markets rebounded strongly on Friday after European leaders struck an unexpectedly detailed deal to help Spain and Italy face down fears about their ability to survive the eurozonecrisis. The agreement to allow the eurozone's rescue funds.

Europeans Agree to Use Bailout Fund to Aid Banks
New York Times
BRUSSELS — In the face of pressure from the embattled euro zone countries Italy and Spain, European leaders agreed early Friday to use the Continent's bailout funds to recapitalize struggling banks directly, cheering financial markets but prompting ...

Euro zone inflation steady, room for ECB move
Reuters
BRUSSELS (Reuters) - Euro zone inflation held steady at a 16-month low in June, kept in check by a sharp fall in oil prices and supporting an already strong case for a near-term interest rate cut by the.

GLOBAL MARKETS-Euro, oil, stocks rally after euro zone deal
Reuters
NEW YORK (Reuters) - The euro jumped nearly 2 percent, oil prices surged and world stocks rallied on Friday after euro zone leaders agreed on measures to cut soaring borrowing costs in Italy and Spain,

Eurozone inflation unchanged at 2.4 percent
The Seattle Times
Inflation has been gradually sinking in the eurozone thanks to a slack economy and lower oil prices, and the ECB expects it to fall to 2 percent sometime next year. Mario Draghi, the head of the European Central Bank, said June 15 that there was no ...

Eurozone inflation unchanged at 2.4 percent; door still open to ECB rate cut ...
Washington Post
FRANKFURT, Germany — Inflation in the 17 countries that use the euro was an annual 2.4 percent in June, a figure that leaves the door open for a possible interest rate cut by the European Central Bank.

Merkel defends concessions in euro crisis
San Francisco Chronicle
Heading in to the Thursday-Friday summit in Brussels, Merkel had appeared thoroughly uncompromising —insisting on the importance of getting budgets in order and improving eurozone strugglers' competitiveness while brushing aside talk of shared debt ...

San Francisco Chronicle

Euro zone inflation holds steady in June, room for ECB move
Reuters
Consumer price inflation at 2.4 pct, same as in May* Dramatic oil price fall offers space for rate cutsBRUSSELS, June 29 (Reuters) - Euro zone inflation heldsteady at a 16-month low in June, in line.

With Crucial Details Missing, Will EU Deal Euphoria Last?
CNBC.com
buy euro zone bonds in the primary and secondary markets. The conditions of any support remain unclear, with the European Commission talking about “very strict conditions” but Italian Prime Minister Mario Monti saying any support would not require ...

CNBC.com

Eurozone Leaders Try Again to Resolve the Debt Crisis
Voice of America
Stock markets cheered Friday, with indexes up sharply.

Voice of America

GLOBAL MARKETS-Euro surges, stocks jump after eurozone deal
Reuters
Euro spikes about 2.0 percent in biggest daily gain for 8months* World stocks, crude oil jump after euro zone deal* Spanish and Italian bond yields fallBy Herbert LashNEW YORK, June 29 (Reuters)

Eurozone Leaders Move to Ease Debt Crisis
Fox Business
After a round of intense meetings, eurozone leaders agreed on a broad range of measures aimed at quelling the debt crisis that is now well into its second year.

European Leaders Try To Tackle Eurozone's Crisis
NPR
European leaders worked through the night at a summit in Brussels aimed at tackling the eurozone's worsening debt crisis. There's been growing concern Italy will soon become the sixth eurozone nation to request a bailout.

Fall in euro zone loans puts more pressure on ECB
Reuters
Annual growth rate M3 May 2.9 pct, above forecasts* Monthly flow of loans to households 1 bln eur* Monthly flow of loans to non-financial firms -10 bln eurosFRANKFURT, June 29 (Reuters) - Loans to.

OIL FUTURES: Nymex Crude Rises Sharply following Euro-Zone News
Wall Street Journal
NEW YORK--Buoyed by a European Union summit's radical new measures to tackle the euro zone's debt crisis, along with renewed anxiety on Iran, crude-oil futures shot up more than 7% Friday, outperforming most other commodities on a bullish day for the ...

Markets Like Euro Crisis Deal, Merkel Defensive
Washington Post
Stock markets made gains around the world Friday after the latest European summit agreed on more substantive moves to resolve the continent's debt crisis. Germany's leader Angela Merkel was left defending concessions she made.

US Stocks Jump After Euro-Zone Banking Agreement
Wall Street Journal
European leaders at a two-day summit in Brussels said they would speed plans to create a single supervisors for the euro-zone's banks. They agreed that the euro-zone's bailout funds should be able to directly boost the capital of struggling banks ...

European leaders agree to use bailout fund to help banks, contain crisis
Washington Post
Agreement gives much-needed relief to Spain and Italy after Germany relaxes its stance.

TABLE-Euro-zone private loans shrink in May
Reuters
FRANKFURT, June 29 (Reuters) - Money supply growthaccelerated but loans to the private sector decreased in May,the European Central Bank said on Friday. The ECB gave the following percentage changes.

Spain's Auction to Stir Waters if Euphoria Fades
Wall Street Journal (blog)
Spain's bond auction next Thursday is expected to draw attention again if an initial positive reaction to this week's the European Union leaders' summit begins fading.

Euro summit: Day 2 | The World
By FT
Markets have responded powerfully with sharp moves in equities, bonds and currencies after EU leaders agreed measures that will see a shift towards central supervision of eurozone banks in exchange for short-term support on Italian and ...
The World

Calafia Beach Pundit: Eurozone crisis atmosphere fades
By Scott Grannis
The Eurozone members have not yet solved its fundamental problem—excessive government spending—but as these charts show, they have significantly reduced the threat of a near-term disaster. The ECB's liquidity injections have been ...
Calafia Beach Pundit

Euro Crisis So Bad People Selling Kidneys - Business Insider
By Max Nisen
The Euro Crisis Is So Bad That People Are Selling Their Kidneys Just To Get By. Max Nisen | Jun. 29, 2012, 12:19 PM | 549 | 5 ... Follow Max Nisen on Twitter. Ask Max A Question >. Tags: Euro Crisis | Get Alerts for these topics » ...
Business Insider

EVENT ANALYSIS: Thoughts on the Eurozone “Breakthrough ...
By Cullen Roche
Futures are soaring overnight on news out of Europe that discussions have led to a breakthrough leading to long-term union (the USA Today.
PRAGMATIC CAPITALISM

Dramatic pre-dawn Eurozone deal sends markets soaring | The Raw ...
By Agence France-Presse
A dramatic pre-dawn deal to save the euro and revamp the eurozone by leaders of the 17eurozone nations brought immediate relief to crisis-hit Italy and Spain and sent markets soaring on Friday. At the end of tense talks that stretched almost ...
The Raw Story

Eurozone's shaky 'breakthrough' to prevent catastrophe now ...
By The Extinction Protocol
June 29, 2012 – EUROPE - European leaders reached a “breakthrough” deal early Friday to ease the recapitalization of struggling banks that should help draw the eurozone back from the brink of a gathering crisis. Under the deal, European ...
The Extinction Protocol: 2012 and beyond

EU agrees on growth compact; eurozone heads for banking union ...
The European Union's (EU) top leaders have agreed on a growth compact for long-term economic revival, while the crisis-hit eurozone has been one step closer to the banking union as a two-day summit ended here on Friday.
philstar.com - Breaking News

Major new deal on Eurozone debt signals victory for Irish taxpayers ...
Major new deal on Eurozone debt signals victory for Irish taxpayers: The Irish government has won its battle to alleviate the country's debt burden on the tax-payer in a new deal with the European Union.
IrishCentral.com - Top Stories

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