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

Thursday, June 21, 2012

Finland rejects proposal for ESM and EFSF to buy bonds

Finland rejects proposal for ESM, EFSF to buy bonds
SALO, Finland, June 20 (Reuters) - Finland, one of the few remaining triple-A rated countries in the euro zone, does not accept a proposal from Italian Prime ...

The Euro Crisis: Why Greece's Election Doesn't Matter
Sunday's national election was supposed to be a major turning point for the future of the euro. The fear in financial markets was that a government led by a party ...


Contagion may drag Italy back to heart of crisis
LONDON (Reuters) - Italy risks being pulled back to the heart of the euro zone debt crisis as the fallout from a Spanish bank bailout makes market access more ...

Italian Plan to Reduce Borrowing Costs Gets Close Look
New York Times
Prime Minister Mario Monti of Italy has started urging that the euro zone's bailout funds, along with money from the European Central bank, be used to buy ...

Spain Poised to Request Aid as Euro-Zone Finance Ministers to Meet
Fox Business
Spain could become the fourth euro-zone country to make a formal request for financial help from other members of the currency bloc during a meeting of ...

Bond-buying by EU rescue funds unlikely and maybe unwise
Brussels denies plan for bailout funds to buy bonds* Italy's Monti floated idea at G20* Scheme would come with unpalatable strings attached* Bond-buying ...

Obama: Euro crisis could affect my re-election
WASHINGTON (AP) — President Barack Obama is acknowledging that Europe's economic situation could have a spillover effect on his own re-election ...

What the Eurozone's Big Four Suggest To Beat the Crisis
Italian Prime Minister Mario Monti will on Friday host a four-way summit in Rome with German Chancellor Angela Merkel, French President Francois Hollande ...

Euro Crisis Shifts to Spain as Merkel Faces G-20 Pressure
World leaders told Europe to pull together to overcome its debt crisis, endorsing a road map for tighter integration to cut borrowing costs and prevent further ...

UK PM: Fresh Impetus in Euro Zone to Tackle Crisis
Wall Street Journal
LOS CABOS, Mexico--It is clear from discussions at a summit of Group of 20 leaders that euro-zone members are ready to take all necessary measures to ...

Eurozone weighs another palliative
Financial Times
Just as in Cannes last year, this month's Group of 20 summit in Los Cabos was hijacked by the troubles in the eurozone, still the heart of the global financial ...

Europeans get some relief with Euro 2012 wins
Seattle Post Intelligencer
Just as Germany has enjoyed growth while other eurozone economies have sunk ... Among the 17-nation eurozone's financially troubled nations, only Ireland ...

Ewart: No euro crisis, yet, as tensions play out in Polkraine
Polkraine is an imaginary land where Greece, Italy and France have no euro crisis . . . at least not.

Euro zone crisis distracts summit from poor nations' needs
LOS CABOS, Mexico (Reuters) - Anti-poverty groups complained on Tuesday that Europe's troubles hijacked the G20 development agenda and pushed into the ...

Italy wants euro rescue funds to buy its debt
Chicago Tribune
LOS CABOS, Mexico (Reuters) - Italy put forward a proposal at a G20 summit in Mexico on Tuesday for the euro zone's rescue funds to start buying the debt of ...

Copper slips on euro zone caution, Fed policy eyed
LONDON (Reuters) - Copper fell on Wednesday as concerns about Spain's debt troubles kept investors cautious, although hopes the Federal Reserve could ...

UK PM Sees Fresh Impetus to Tackle Crisis
Wall Street Journal
Euro-zone countries determined to stand behind their currency ... "There is fresh impetus with theeuro-zone leaders in terms of using all the mechanisms, ...

Merkel: bond buying by bailout funds "purely theoretical"
BERLIN, June 20 (Reuters) - Germany's Angela Merkel said onWednesday that both of Europe's bailout schemes includedmechanisms for buying state debt on ...

Eurozone economics delicate, BOE says
The Bank of England said Wednesday that a gross domestic product increase of 0.5 percent in Germany offset troubles in Italy and Spain in the first quarter.


Limited Bond Purchases Won't Stop Euro Crisis
Wall Street Journal (blog)
It says something when even the European Commission announces the latest idea put forward to alleviate the euro-zone debt crisis is just financial painkiller.

Wall Street Journal (blog)

Entente Cordiale Goes Into Deep Freeze
Wall Street Journal (blog)
EPAOuch. The French have bitten back.Not surprisingly, U.K. Prime Minister David Cameron's statement on Monday that he is happy to "roll out the red carpet" ...

Wall Street Journal (blog)

Eurozone crisis live: Greece announces new government
The Guardian
A conservative-led Greek government has been agreed and will form a team to renegotiate the EU/IMF bailout.

The Guardian

Markets seek direction in wake of G20 pledge, Greek coalition
Globe and Mail
Investors took a modicum of cheer from the Group of 20's commitment to drive down the euro zone's borrowing costs and Greece's lurching, though apparently ...

Globe and Mail

Euro-zone crisis widens consumption gap
The euro zone's fiscal crisis has widened the gap between household consumption in those countries pursuing austerity programs and those that aren't, ...

Obama: Euro crisis could affect my re-election By The Associated ...
Laramie Boomerang
The Laramie Boomerang provides up-to-date news and information for Laramie, Wyoming and the surrounding areas. Visit us daily for current news, sports, ...

UK Jobless Claims Unexpectedly Rise as Euro Crisis Bites
U.K. unemployment claims unexpectedly rose in May, suggesting the labor market may be starting to succumb to Europe's intensifying debt crisis.

G20 Backs Europe's Plans for Euro Zone Overhaul to Fight Crisis
Insurance Journal
Europe won support from world leaders on Tuesday for an ambitious, but slow-moving, overhaul of theeuro zone, even as pressure built in financial markets.

Eurozone under pressure to speed up integration
Economic Times
Eurozone leaders faced mounting pressure from impatient G20 partner to accelerate integration, while Spain fought to avoid needing a full debt rescue.

Europe gropes for crisis fix, bond buys pushed
Huffington Post
BRUSSELS – Europe's leaders are grasping for ideas to halt their government debt crisis ahead of a series of top-level meetings over the next 10 days.

Euro crisis: A new low in weasel words
Globe and Mail
What's happening here is that Germany won't bend to the mounting pressure for new solutions to the spreading euro crisis, including a so-called banking union ...

Euro-zone Debt Crisis Puts Germany Between a Rock and Hard ...
result in the continuation or demise of the Eurozone as it currently is structured; and,. impact all developed and developing non-Eurozone countries to a larger or smaller degree. Featured Article: An article yesterday sets out in quite clear terms ...
The Market Oracle

The Eurozone's May 2010 strategy is a disaster: Time to pay up and ...
The EZ rescue strategy adopted in May 2010 failed to restore debt sustainability, avoid contagion, or reduce moral hazard. This column argues that a volte face is needed. The debt of Greece, Portugal and Italy – and perhaps Ireland, Spain ...
VoxEU.org: Recent Articles

Obama: Euro Crisis Could Affect My Re-Election
By The Huffington Post News Editors
LOS CABOS, Mexico -- President Barack Obama is acknowledging that Europe's economic situation could have a spillover effect on his own re-election prospects. Wrapping up the Group of 20 economic summit of world leaders, Obama ...
The Huffington Post | Full News Feed

Are the rumours of a new(ish) eurozone backstop true?
By Open Europe blog team
When it comes to the unenviable task of backstopping Spanish and Italian government debt, the ECB has now officially passed the buck to eurozone governments. Over the last two years, the ECB has effectively managed to manipulate ...
Open Europe blog

The Eurozone Crisis is Far From Over | The Wall Street Examiner
By Dr. Kent Moors
The Greek election last weekend has brought us a brief reprieve. The nation and the Eurozone have stepped back from the brink. But the larger truth is...
The Wall Street Examiner

Calafia Beach Pundit: Light at the end of the Eurozone tunnel
By Scott Grannis
As these charts show, 2-yr Eurozone swap spreads have dropped to their lowest level since last July. Spreads are down almost 45 bps from the late December highs, and that is a very healthy development—even though at current levels ...
Calafia Beach Pundit

Sober Look: Eurozone policy actions and iTraxx spread
By Walter Kurtz
Eurozone policy actions and iTraxx spread. This historical chart from Barclays Capital overlays the timeline of the various Eurozone policy actions on top of the iTraxx Main spread. As a bit of background, iTraxx Main is a CDS index referencing ...
Sober Look

Jubileesouth » The BBC Coverage of the Eurozone Crisis
By arnold
The BBC Coverage of the Eurozone Crisis. June 20, 2012. For many years in economic terms – the word debt has been synonymous with South America, Africa and the Third World. We looked on and marvelled at the huge amounts of debt ...

Barack Obama: no 'silver bullet' will solve eurozone crisis – video ...
By haaretz
Barack Obama: no 'silver bullet' will solve eurozone crisis – video. US president Barack Obama praised the efforts by European leaders for their ambitious but slow-moving overhaul of the eurozone...
Haaretz Daily

Euro Zone's Fiscal Crisis Widens Consumption Gap
The euro zone's fiscal crisis has widened the gap between household consumption in those countries pursuing austerity programs and those that aren't, according to figures released by Eurostat, the European Union's official statistics agency.
RSS for 3party Content

Germany set to allow eurozone bailout fund to buy troubled ...
By Pete Jackson
Looks like Angela Merkel may remove her opposition to use of the bailout fund to buy government bonds of debit ridden EU countries after all, in an effort to.

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