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

Friday, June 1, 2012

Eurozone: Unsustainable

Eurozone is 'unsustainable' warns Mario Draghi
Telegraph.co.uk
The head of the European Central Bank hit out at the political paralysis gripping the region as he warned the eurozone's set-up was "unsustainable". ECB President Draghi arrives at the European Parliament economic and monetary affairs committee in...

Telegraph.co.uk

Europe's Chief Banker Says Eurozone 'Unsustainable'
Voice of America (blog)
The head of the European Central Bank, Mario Draghi, said the financial institution has done what it could to combat the eurozone's two-year government debt crisis. But he told the European Parliament in Brussels on Thursday that the currency union's ... 

Euro zone structure is 'unsustainable' says Draghi
MarketWatch (blog)
Europe's top central banker said Thursday the euro zone's current set up is “unsustainable” in its current form and that the bloc's political leaders should step in with decisive action if they want to save the single currency, according to media ...

Monti warns of contagion if debt crisis not solved
Atlanta Journal Constitution
By COLLEEN BARRY AP MILAN — Italian Prime Minister Mario Monti urged his European partners on Thursday to speed measures to limit contagion from the debt crisis crippling some countries and stimulate economic growth — or risk a backlash from citizens ...

Atlanta Journal Constitution
Euro zone inflation falls to 15-month low in May
Reuters
By Philip Blenkinsop | BRUSSELS (Reuters) - Euro zone inflation eased further than expected to its lowest level in more than a year in May, giving the European Central Bank a little more room to lower interest rates amid fears of deep recession across ...

Instant View: Euro zone inflation drops to 15-month low
Reuters
BRUSSELS (Reuters) - Euro zone inflation eased by more than expected to its lowest level in more than a year in May, giving the European Central Bank a little more room to lower interest rates to help revive economic growth across the continent.

Eurozone inflation falls more than expected in May
The Seattle Times
Though inflation is still running above the ECB's target of keeping price increases below 2 percent, the central bank is under pressure to lower its main benchmark rate from the current 1 percent to help the ailing eurozone economy.

ECB's Draghi Calls for Bank Reform
Wall Street Journal
By MARGIT FEHER BRUSSELS—European Central Bank President Mario Draghi called on European politicians to come up with a vision for the euro zone for the years ahead to better tackle the region's debt crisis and to restore confidence, suggesting that a ...

Wall Street Journal

IMF sees room for ECB easing, case for slower euro zone deficit cuts
Reuters
BRUSSELS (Reuters) - Some euro zone countries which are meant to cut budget deficits below 3 percent of GDP in 2013 may need more time and there is room for a more expansionary policy from the European Central Bank, IMF Deputy Managing Director Nemat ...

Core Euro-Zone Bonds Rally As Investors Demand Yield
Wall Street Journal
By Nick Cawley LONDON (Dow Jones)--Yields on benchmark bonds of Spain and Italy fell Thursday from their highest levels since November, while the debt of nations in the bloc's geographical core benefited from demand for a second-best alternative to ...

News Summary: Eurozone May inflation slower than expected, adds pressure for ...
Washington Post
INFLATION SLOWS: Inflation fell more than anticipated in May in the 17 countries using the euro, which could pressure the European Central Bank to cut interest rates. THE NUMBERS: The European Union's statistics office said consumer prices grew at the ...

An ECB Rate Cut: A Matter of When Not If
Wall Street Journal
It isn't just the increased tensions over the debt crisis in the euro zone putting pressure on the central banks to move. It is the growing evidence of recession as austerity measures bite further into the euro zone and growing signs that global demand ...

Italy's Monti warns on contagion, hints at ECB role
Reuters
Monti says Italy massively exposed to contagion risk * Says markets failing to take into account Italy's reforms * Monti hints ECB should resume bond buying programme By Robin Emmott and Jan Strupczewski BRUSSELS, May 31 (Reuters) - Italy is hugely ...

Central banker sees Euro Zone structure as 'unsustainable'
Worcester Telegram
FRANKFURT — Mario Draghi, president of the European Central Bank, warned Thursday that the structure of the euro zone had become “unsustainable” and criticized political leaders he said have been slow to respond to the sovereign debt crisis.

Eurozone setup unsustainable, says Draghi
BBC News
European Central Bank (ECB) president Mario Draghi says that eurozone leaders must decide what they want the bloc to look like in the future because the current setup is "unsustainable". He said that the ECB could not "fill the vacuum" left by ...

BBC News

The pain in Spain that threatens the eurozone
CNN
Spain's public finances are nothing like as grim as the Greeks', but a worsening banking crisis threatens to deepen an already painful recession and endanger the future of the eurozone. The immediate cause of the pain in Spain is the need to ...

Italy's Monti warns on contagion, urges ECB action
Chicago Tribune
BRUSSELS (Reuters) - Italy is hugely exposed to the risk of contagion from the debt turmoil in theeuro zone, its prime minister said on Thursday, suggesting the European Central Bank take action to help cool borrowing costs. Mario Monti, a respected ...

Eurozone inflation falls to 2.4 percent in May; decline bigger than expected
Washington Post
Though inflation is running above the ECB's target of keeping price increases below 2 percent, it's under pressure to lower its main benchmark rate from the current 1 percent given an ailing eurozoneeconomy. Copyright 2012 The Associated Press.

Merkel: "No taboos" in euro crisis but change takes time
Reuters
... Germany (Reuters) - German Chancellor Angela Merkel said on Thursday that Europe should be ready to consider all options in its drive to stem its sovereign debt crisis but refrained from commenting on calls for a banking union in the euro zone.

ECB Eyes Supervisor For 25 Largest Euro-Zone Banks
Fox Business
The euro zone could build a European banking authority to help monitor and, when necessary, bail out its largest banks, European Central Bank Executive Board Member Joerg Asmussen said Thursday. "The most straightforward solution would be to develop a ...

Crisis in the Euro Zone: Alexis Tsipras Is the Greek Who Makes Europe Tremble
TIME
It's a paradox to think Greece can stay in the euro zone if the austerity policies continue to be implemented. The austerity policy, and especially this extreme policy based on the term "internal devaluation", is exactly what we should have avoided.

Euro-Zone Inflation Slows
Wall Street Journal
By ALEX BRITTAIN LONDON—The rate of inflation in the euro zone slowed more than expected in May, giving the European Central Bank more breathing space to loosen its monetary policy stance and offer some relief to the region's struggling economy as it ...

ECB President Draghi Warns of Unsustainable Euro Zone Structure
123Jump.com
Draghi was referring to the structure of the euro zone and offered his sharpest criticism of political leaders in six months since taking office in November. He said political leaders need to decide what kind of euro zone they want and half-measures by ...

Deepening crisis forces Merkel to re-examine euro taboos
Reuters
By Noah Barkin | BERLIN (Reuters) - How far is Germany prepared to go to save the euro zone? With Greece's future in the single currency bloc in doubt, Spain scrambling to get a grip on its ailing banks and the euro itself in freefall, the question ...

Italy's Monti warns of contagion risks, chides markets
Reuters
BRUSSELS (Reuters) - Italian Prime Minister Mario Monti said on Thursday his country was threatened by "huge possibilities" of contagion stemming from the euro zone debt crisis and warned markets that pressure from rising sovereign bond yields could ...

Eurozone setup 'unsustainable,' ECB head says
CBC.ca
The setup of the 17-country euro currency union is unsustainable, the head of the European Central Bank has told EU leaders, warning they must quickly come up with a broad vision for the future to get the bloc through the current financial crisis.

CBC.ca

Euro zone needs deeper integration to survive: EU's Rehn
Reuters
BRUSSELS (Reuters) - Europe's single currency must be supported by responsible fiscal policies and closer cooperation between countries in the euro zone to survive and prosper, the EU's top economic official said on Thursday.

Euro zone needs deeper integration to survive -EU's Rehn
Reuters
"We need a genuine stability culture and a much upgraded common capacity to contain commoncontagion," EU Economic and Monetary Affairs Commissioner Olli Rehn told a conference. "This is the case, at least if we want to avoid a disintegration of the ...

CHART: The PIIGS May Be Bigger Than You Think - Business Insider
By Doug Short
"PIIGS" we are informed in the current Wikipedia entry "is a pejorative acronym used to refer to the economies of Portugal, Italy, Greece and Spain. Since 2008, the term has included Ireland, either in place of Italy or with an additional I." ...
Clusterstock

Current eurozone set-up is 'unsustainable': Draghi | The Raw Story
By Agence France-Presse
The president of the European Central Bank, Mario Draghi, called on Thursday for eurozone leaders to lay out a vision for the future of the embattled bloc, as its current set-up is “unsustainable.” “The next step … is basically for our leaders to ...
The Raw Story

Merkel talks Syria, euro crisis with Obama - The Local
German chancellor Angela Merkel and US President Barack Obama on Wednesday discussed theeuro crisis and the need for an end to violence in Syria in a video conference along with leaders of France and Italy.
The Local - Germany's news in English

Eurozone Nations Could Pawn Gold to Germany - theTrumpet.com ...
By theTrumpet.com
New euro plan would have Germany save Europe, in return for power and gold.
theTrumpet.com: Front Page

Early Warning: Eurozone Industrial New Orders
By Stuart Staniford
I was wondering why Eurostat hasn't put up a press release about this series this month, so I went to check. It isn't doing anything too exciting however. The data run through March (but of course it's new orders, so it's for activity some of which ...
Early Warning

Rehn: Eurozone needs deeper integration to survive - Kathimerini
"We will not be able to overcome our problems by focusing on a joint issuance of public debt without simultaneous fiscal sustainability, nor will we be able to anchor a stability culture in the eurozone without significantly pooling the burden of ...
Latest News

Euro zone flash CPI eases to 2.4% in May By Forexpros
By Forexpros
Euro zone flash CPI eases to 2.4% in May. ... Forexpros - Consumer price inflation in the euro zoneeased more-than-expected in May, preliminary data showed on Thursday. In a report, Eurostat said consumer price inflation rose by a ...
Forex Pros RSS News Feed | Forex News

Could Germany save eurozone by leaving it? – Global Public ...
By kalmond
Editor's note: Clyde Prestowitz writes on globalization for ForeignPolicy.com and is president of the Economic Strategy Institute. John Prout is the former Paris-based treasurer of Credit Commercial de France.
Global Public Square

How will the eurozone financial shock impact the Gulf States ...
By Peter Cooper
Greece is a side show compared to what is happening in Spain. One of the world's larger economies is about to go into cardiac arrest unless the ECB arrives soon with its bail-out to calm markets again. For Spanish debt is getting painfully ...
ArabianMoney

Eurozone epidemic meltdown: Spain in emergency crisis, Danish ...
By The Extinction Protocol
2012 – DENMARK – Moody's has downgraded the credit rating of nine Danish banks, citing the impact of the rolling eurozone crisis on bank loan quality and on their fund-raising ability. The nine, along with the Finnish subsidiary … Continue ...
The Extinction Protocol: 2012 and beyond

EU Calls for "Banking Union" to Ease Eurozone Debt Crisis - Money ...
By Diane Alter
The Eurozone debt crisis has been focused on Spain lately, and it's latest effort to save the euro is the EU banking union. But can anything work? Money Morning - Only The News You Can Profit From.
Money Morning

Merkel: "No taboos" in euro crisis but change takes time – Reuters ...
By Newswires
Deutsche WelleMerkel: "No taboos" in euro crisis but change takes timeReutersSTRALSUND, Germany (Reuters) - German Chancellor Angela Merkel said on...
The Wall Street Examiner

ECB warns current eurozone form is 'unsustainable' | AAJ News
By Humair Rana
European leaders must act swiftly and decisively to avoid the disintegration of the eurozone, which European Central Bank chief Mario Draghi said Thursday is “unsustainable” in its current form. With Spain facing imminent financial danger ...
AAJ News

Greece to Leave Euro Zone on June 18: Wealth Manager - Business ...
Greece will leave the euro zone on June 18 if the populist government wins the country's elections on the 17 as the rest of the euro zone rounds on "cheaters," ...
www.cnbc.com/.../Greece_to_Leave_Euro_Zone_on_June_18...

Tracking the euro-zone economy in real time - The Economist
The progress of the euro-zone crisis will, in turn, depend on the length and depth of the euro-area ecession. If output is shrinking and unemployment rising, then ...
www.economist.com/blogs/freeexchange/.../business-cycles

How Big Are the PIIGS?
"PIIGS" we are informed in the current Wikipedia entry "is a pejorative acronym used to refer to the economies of Portugal, Italy, Greece and Spain. Since 2008 ...
advisorperspectives.com/dshort/.../Sizing-the-PIIGS.php

EU Titans To Address Euro Crisis At Bilderberg Alex Jones' Infowars ...
The euro crisis has been a key talking point at each of the last three Bilderberg meetings. In both 2010 and 2011, political consensus formed by Bilderberg ...
www.infowars.com/eu-titans-to-address-euro-crisis-at-bilderbe...

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