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

Monday, June 18, 2012

Greece will have to leave EMU whoever is elected

Greece will have to leave EMU whoever is elected - Telegraph: "The exact circumstances and timing of Greece’s ejection from monetary union no longer have any systemic importance for global finance. The damage has already been done. The precedent of EMU break-up is by now priced into the credit markets. Formalising it changes little."

Greek Conservatives Appear to Have Edge
Wall Street Journal
With Greece poised to vote on austerity measures, the Euro zone is on the verge of a painful rupture that could be its dissolution. If Greece chooses to exit the ...

Wall Street Journal

Global economy navigating through political storms
Markit on Thursday releases its early read on the manufacturing sectors in June for China, the United States and the euro zone. All are likely to show further ...

Euro zone membership at stake as Greece votes for second time
Globe and Mail
While foreign leaders and the foreign media are portraying the vote as a referendum on Greece's use of the euro, many Greeks see it simply as a chance to elect ...

Globe and Mail

Obama to press for euro zone progress at G20 summit
WASHINGTON (Reuters) - U.S. President Barack Obama will press European leaders this week to resolve their debt crisis but the United States does not expect ...

Eurozone worries weigh on war-weary Afghans
KABUL (Reuters) - Kabul's Shahzada money market and its crush of bearded traders thumbing crumpled piles of cash is a world away from Europe, but ...

Greek election may decide future in eurozone
CBS News
In most critical balloting in 40 years Greeks hit hard by debt crisis will choose between austerity and a return to the drachma.

CBS News

Zoellick: Europe doing too little too late in crisis
Zoellick says Europe risks Lehmans moment* Says euro zone should not be held hostage by Greece* Greek vote on Sunday could decide fate of the ...

Euro-Zone Rescue Funds Not Sufficient To Bail Out Large Country -IIF
Wall Street Journal
LONDON--The euro-zone's bailout funds are now insufficient to aid a large member of the currency area, the world's biggest private financial institutions said ...

Eurozone problems will dampen global markets, impact India: PM
Singh also said that the need to revive global growth should be an issue of immediate concern which must be addressed by world leaders. He made these ...

G20 summit to focus on eurozone debt crisis
BBC News
The eurozone debt crisis is set to dominate the agenda at the latest G20 summit in Mexico.

BBC News

So Will Greece Finally Leave the Euro Zone?
Recent weeks have seen the rhetoric from both sides of the Greek tragedy ramped up with naysayers claiming the days of the Hellenic Republic's membership ...


OECD: Euro Crisis Is No Longer Just a European Issue
Wall Street Journal
LOS CABOS, Mexico--Downside risks to Europe's economy could impose a "major shock" on the global economy, which means that "the crisis is no longer just a ...

Greek election: A test for the euro zone
Washington Post
Questions and answers about the country's election Sunday and the fate of the euro zone.

Developing world needs euro crisis defence - Zoellick
LONDON (Reuters) - Developing nations must be ready for a severe global financial crisisshould the euro zone fail to cope with its current problems, outgoing ...

A Critical Vote in Greece on Its Standing in the Euro Zone
Pittsburgh Post Gazette
ATHENS -- From the sprawling voting districts of greater Athens to tiny far-flung islands, Greeks turned out on Sunday to vote in elections that once again are ...

Greeks vote with euro zone's future in the balance
Greeks in Athens and around the country's archipelago of islands headed to the polls in droves to vote in a national parliamentary election Sunday, and the euro ...

Euro crisis shadow over summit
Times Now.tv
As G-20 leaders meet in the shadow of an ailing global economy and lingering Eurozone crisis, Prime Minister Manmohan Singh is expected to ask the ...

How Would Greece Leave the Euro?
Wall Street Journal (blog)
If Greece did exit the euro zone, how exactly would it happen and what would be the practical consequences?

Calderon Says G-20 to Back Bigger IMF Anti-Crisis Firewall
San Francisco Chronicle
Leaders of the Group of 20 nations are gathering in Los Cabos for a two-day summit dominated by the financial crisis in Europe and its risk to the global ...

German formin: Greece could get more time to cut debt
BERLIN, June 17 (Reuters) - German Foreign Minister GuidoWesterwelle signalled on Sunday that Greece could get smallconcessions from the euro zone over ...

Austria's Faymann wants euro zone bank union: paper
VIENNA (Reuters) - The euro zone needs an effective banking union to help master its debt crisis, and the first steps could be taken this year, Austrian ...

Developing world needs euro crisis defence-Zoellick
LONDON, June 16 (Reuters) - Developing nations must be readyfor a severe global financial crisis should the euro zone failto cope with its current problems, ...

Harper on Europe: moral support, but no new money for eurozone ...
Calgary Herald
Prime Minister Stephen Harper joins other world leaders in Mexico Monday for a critical G20 summit,

Broad euro-zone plan in progress: report
European leaders on Saturday were working on a major plan for the euro zone in an effort to prevent runs on banks, reduce regulation, bureaucracy and ...

Eurozone to issue Greece statement: French finance minister
PARIS (Reuters) - Euro zone governments held intense discussions on the situation in Greece as voters there went to the polls on Sunday and are set to issue a ...

Draghi: up to politicians to fight eurozone crisis
Las Vegas Sun
Sunday, June 17, 2012 | 3:07 a.m. - ECB head said euro needs strengthened foundations, says proposals coming soon.

Live Blog: Greece's Pivotal Election
Wall Street Journal (blog)
Greeks went to the polls in a crucial election that is widely seen as a de facto referendum on the country's future inside the euro zone, the outcome of which risks...

Wall Street Journal (blog)

Greek election may decide future in eurozone
Valley News Live
Greeks voted Sunday for the second time in six weeks in what was arguably their country's most critical election in 40 years, with the country's treasured place ...

Greeks Vote In Election Critical to Euro Zone Future
Barron's (blog)
Greeks began voting Sunday in an election that will determine the country's future in the euro zone and dictate the direction of financial markets for the next few ...
Sober Look: Capital flight out of Eurozone seen in foreign deposits ...
By Walter Kurtz
That means the ECB's liability to non-Eurozone residents should have declined. And it has, until recently. But now we have a new spike in non-resident liability at the ECB. So who outside theEurozone is depositing a massive amount of euros ...
Sober Look

Group Warns Euro-Zone Rescue Funds Now Insufficient - Riehl ...
By Dan
The euro-zone's bailout funds are now insufficient to aid a large member of the currency area, the world's biggest private financial institutions said Sunday. via online.wsj.com.
Riehl World View

Group Warns Euro-Zone Rescue Funds Insufficient – Wall Street ...
By Newswires
Telegraph.co.ukGroup Warns Euro-Zone Rescue Funds InsufficientWall Street JournalBy PAUL HANNON LONDON—The euro-zone's bailout funds are now insuffi...
The Wall Street Examiner

Developing world needs euro crisis defence-Zoellick - Stabroek News
By Stabroek staff
LONDON (Reuters) - Developing nations must be ready for a severe global financial crisis should the Eurozone fail to cope with its current problems, outgoing.
Stabroek News

Greece votes to decide whether to stay in the eurozone | Ya Libnan ...
By Ya Libnan
In an election fought over the punishing austerity package demanded by international lenders as the price of keeping Greece from bankruptcy, opinion polls showed the radical leftist Syriza party, which wants to scrap the deal, running neck ...
Ya Libnan

Moody's cuts Dutch bank credit ratings on eurozone woes
By nineoclock
Moody's has cut the credit ratings of some Dutch and Belgian banks, including ING, present also in Romania, and ABN Amro, because of the eurozone debt crisis, BBC informs. Long-term ratings at ING, Rabobank, ABN, LeasePlan and KBC ...
Nine O`Clock

The Tiresome Eurozone Soap Opera Has Entered Re-Runs
By Charles Hugh Smith
What's more tiresome than a hastily rehearsed soap opera that replays the same boring plots again and again? Re-Runs of that soap opera. The Eurozone "drama" is now in re-runs and I for one am switching channels. Nothing will change ...
oftwominds-Charles Hugh Smith

The Psy-Fi Blog: Stuxnetting the Eurozone's Trust
By timarr
Markets and investors have long been possessed of a peculiar and unsubstantiatable notion, that the problems of the Eurozone are solvable as soon as people come to their senses and start engaging with financial reality rather than political ...
The Psy-Fi Blog

Quick action needed if euro crisis spreads: Flaherty | iPolitics
By Bloomberg
Quick action needed if euro crisis spreads: Flaherty Provided by Bloomberg. Posted on Sat, Jun 16, 2012, 8:43 pm by Bloomberg. Canadian Finance Minister Jim Flaherty said Canadian policy makers would have to work quickly to respond to ...

Indian PM urges Europe to act on financial crisis – Singh leaves for ...
By Kuwait Times
NEW DELHI: Indian Prime Minister Manmohan Singh urged European leaders to take “resolute action” to tackle the financial crisis in the euro-zone as he departed yesterday to attend the G20 summit in Mexico. Singh described the situation in ...
Kuwait Times

Stephen Harper pledges moral support, but no new money for ...
Greek voters went to the polls Sunday to vote in what has been an unpredictable election — while the rest of the continent awaited the election results to see if it would imperil Greece's future in the 17-nation eurozone, and nervous European ...
Calgary Herald - News

The Bajan Reporter | Bahamas-based Fiscal Expert sees Eurozone ...
By AirBourne
New Managing Director of Royal Fidelity Merchant Bank and Trust (Barbados), Mr. Archie Cuke, welcomed a full house to the Lloyd Erskine Sandiford Centre when he greeted those gathered for the Royal Fidelity 2012 Investor Forum. {CLICK ...
The Bajan Reporter

Eurozone Debt Crisis Part 3: There is No Alternative to a United ...
BERLIN, GERMANY - MAY 15: German Chancellor Angela Merkel and French President Francois Hollande. Why France May Sell Germany's Soul to save the ...

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