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

Thursday, June 14, 2012

Moody's: Spain's credit rating could be cut to 'junk' within 3 months

Moody's: Spain's credit rating could be cut to junk within three months - Telegraph: "Spain could be downgraded to 'junk’ within three months, rating agency Moody’s warned on Wednesday night, as it slashed the country’s credit rating by three notches."  Moody's says Spain faces being cut to 'junk' within three months: full statement - Telegraph: "Moody's has warned it could cut Spain to "junk" within three months, as it slashed the country's credit rating by three notches, citing the increased debt burden linked to its bank bail-out. Here is the rating agency's statement in full. . . . "

Contagion: A glance at how debt problems in Greece and Spain ...
Washington Post
WASHINGTON — Investors are dumping Spanish, Italian, even German bonds four days before a Greek election. The election results potentially could trigger ...

Euro-Zone Government Bonds Remain Under Pressure
Wall Street Journal
Euro-zone governments remained under pressure from bond investors Wednesday, as Spanish and Italian yields stayed close to recent highs, while the malaise ...

Spain Calls for Banking Integration to Save the Euro
Fox News
Rajoy released a letter Wednesday sent by him to top eurozone leaders just before Spain asked for the bailout last weekend. In it he pleads with EU leaders to ...

Will Greece Leave the Euro Zone?
Daily Beast
With Greek elections scheduled for Sunday, the European Commission has said that 'contingency discussions' have been held in case Greece leaves the ...

Daily Beast

Euro zone weighs on shares, euro and even German debt
CNBC.com
LONDON (Reuters) - European shares edged lower and the euro flatlined but yields on safe-haven German bonds rose on Wednesday as worries about ...

Insight: Chicago "Love Boat" steered Spain to bailout
Reuters
MADRID/BERLIN (Reuters) - In Chicago, they know about offers you can't refuse.So when Angela Merkel asked Spain's prime minister out for a boat ride on the ...

GLOBAL MARKETS: Financial Markets Tepid As Spain, Italy Remain ...
Wall Street Journal
There was a mixed reaction to euro-zone industrial production data, which fell 0.8% on the previous month in April. Although this wasn't as severe as expected, ...

FOREX-Euro nudges up, overshadowed by debt worries
Reuters
Euro rises as market pares short positions * Gains overshadowed by unease about Spain, Greece * Market seeks policy response to euro crisis By Jessica ...

Europe's Economic Crisis: What You Need to Know
CNBC.com
Here's what you need to know about the euro zone debt crisis. ... Euro zone finance ministers agreed on Saturday (June 9) to lend Spain up to 100 billion euros ...

FOREX-Euro steady, but vulnerable to Italian and Greek woes
Reuters
Euro runs into selling by investors at uptick* Euro zone bond yields to offer direction to currencies* USD/JPY ensconced between offers and bids from real ...

TEXT-Fitch:Impact of hypothetical Greek exit on Eurozone banks
Reuters
June 13 - In a new report, Fitch Ratings says that a hypothetical Greek exit would have limited direct, cross-border impact on neighbouring countries.

A look at how Greece's troubles might spread
Kansas City Star
The election results potentially could trigger financial panic not just across Europe but around the world - a process called "contagion." Investors are also ...

France seeks eurozone stability package
Financial Times
France is pressing the EU to adopt a financial stability package to stem the eurozone crisis, believing negative market reaction to the €100bn bailout of Spain's ...

Cyprus may ask for bailout before Greek elections
Fox News
Cyprus' Finance Minister warned Wednesday that the eurozone country could seek a European Union bailout to help recapitalize its banking sector before ...

Shares, euro capped by euro zone worries
CNBC.com
LONDON (Reuters) - European shares inched down, yields on safe-haven German bonds rose and the euro flatlined on Wednesday as worries about contagion ...

Greek Election a Referendum on Its Eurozone Membership
Voice of America
Most Greeks want to stay in eurozone but are angered at the terms of the rescue packages.

Voice of America

Why Spain's Big Bank Bailout Is Really a Big Bust
TIME
Every time the leaders of the beleaguered euro zone come together to make a decision aimed at quelling its debt crisis, the boost in confidence for the common...

TIME

Spain's Record Yields Show Italy Bailout Risk Amid Contagion
San Francisco Chronicle
Updates with bond prices in second paragraph. For more on Europe's debt crisis, click on TOP CRIS.) June 13 (Bloomberg) -- Spain's benchmark borrowing ...

Big Contagion Risks if Greece Leaves Euro Zone - Fitch
Wall Street Journal
STOCKHOLM--There is currently "enormous uncertainty" about Greece's political direction, and the contagion risks would be significant if the country chooses to ...

Eurozone Doubts Nudge Gold Higher
TheStreet.com
Eurozone doubts continue to nudge gold higher on Wednesday.

Cyprus looking at EU, Russia, China for bailout
Reuters
NICOSIA/DUBLIN (Reuters) - Cyprus is looking to Europe, Russia and China for the best possible bailout terms, officials said on Wednesday, and could seek as ...

Stick to Austerity, Germany Warns Italy
CNBC.com
Highlighting that peril, the euro zone's third biggest economy had to pay nearly 4 percent to sell one-year treasury bills at auction on Wednesday, a six-month ...

CNBC.com

Euro zone collapse would cripple tourism-Euromonitor
Reuters
FRANKFURT (Reuters) - A collapse of the euro zone would have a crippling impact on Europe's airlines and hotel groups, as consumers and businesses would ...

Italy hit by market fears of contagion from Spain
The Associated Press
By COLLEEN BARRY, AP Business Writer – 1 minute ago. MILAN (AP) — Italian Premier Mario Monti saw nearly seven months of confidence-building by his ...

Euro zone crisis seen threat to UK farm profits
Reuters
Weak euro makes UK exports less competitive* Crisis may also lead to cuts in EU farm spendingBy Nigel HuntBOOTHBY GRAFFOE, England, June 13 ...

Eurozone crisis: Banking sector could be 'wiped out' if weakest ...
The Guardian
Analysis by Credit Suisse estimates that up to 58% of the value of Europe's banks could be wiped out by the departure of the 'peripheral' countries.

The Guardian

Euro zone April production falls less than expected
Reuters
(Adds economists' comments)BRUSSELS, June 13 (Reuters) - Euro zone industrialproduction fell less than expected in April and March but theshrinking output ...

Eurozone Crisis Expected to Dominate G20 Summit
Voice of America
Analysts say helping Europe solve its money problems is likely to top the agenda at next week's Group of 20 economic summit in Los Cabos, Mexico.

Spain defends bank rescue as borrowing costs rise
Houston Chronicle
If the money comes from the existing eurozone rescue fund, the European Financial Stability Facility, its repayments will have the same priority as the all the ...

Europe's States, Rich and Poor, Must Share Their Debts
Huffington Post
It is high time to examine structural solutions and help eurozone countries honor their debts rather than continue to lend them money at higher and higher rates ...

The euro crisis as family drama | Edward Hadas
By Edward Hadas
The financial details aren't the full story. Think of Greece as the wayward uncle who keeps asking for a bit of cash to tide him over. Germany is the priggish older brother who usually comes through in the end. And the ECB is the Godfather, the ...
Edward Hadas

XE.com - Euro zone strains take shine off German Bunds-PIMCO
The increased liabilities Germany faces as a result of the euro zone crisis are eroding the attractiveness of its sovereign bonds, the bloc's benchmark government paper, the head of bond fund PIMCO's German unit said on Wednesday.
XE Forex News

Contagion Affects Europe | Mostly Water
By Stephen Lendman
Contagion Affects Europe - by Stephen Lendman. Europe keeps sinking deeper into financial crisis. Eurozone straight-jacket rules force 17 dissimilar countries to live by one size fits all diktats. Flawed planning preordained eventual disaster.
Mostly Water

Healthy Dose: Eurozone Crisis is Hurting Developing Nations, Says ...
By PSIHealthyLives
Keeping up with global health & development news, blogosphere, forums, events, jobs and more.
Global Health Hub: news and blogosphe...

Ahead of Election, Greeks Brace for Eurozone Exit | Atlantic Sentinel
By Nick Ottens
Mere days before Greeks head to the polls for the second time in as many months to elect a parliament, savers are pulling their money out of banks en masse in anticipation of an exit from the eurozone. CNBC reports that some €800 million is ...
Atlantic Sentinel

Catastrophe looms for eurozone as Italian and Spanish bond yields ...
By Peter Cooper
The contagion form the eurozone periphery to the major economies is now fully underway with the botched rescue of Spain last weekend sending yields higher than before the bailout and Italian yields also surging higher than ever in this crisis ...
ArabianMoney

Top economist says Greece should leave eurozone
By Lynsey
LATEST WEBSITE NEWS: Our magazine's first issue is out! Have you subscribed yet for all exclusive material not available on the website? ********** We need your financial support to keep this website running. Please give your donation ...
The Coming Crisis

Italy hit by market fears of contagion from Spain | The Salt Lake ...
Milan • Italian Premier Mario Monti saw nearly seven months of confidence-building by his government wiped out by Wednesday, when the country's borrowing rates in a bond auction skyrocketed back near levels last seen in December.
All - The Salt Lake Tribune

John Embry: Despite Rally, Global Financial Crisis II Is Imminent ...
By mosesman
Embry – Despite Rally, Global Financial Crisis II Is Imminent! by www.kingworldnews.com Today John Embry told King World News that, despite the rally, investors should brace for “globalfinancial crisis II.” Embry also said this crisis will be ...
Socio-Economics History Blog

Euro zone running out of time « The Enterprise Blog
By James Pethokoukis
Will Germany's taxpayers and those of other solvent countries be willing to fund an even larger bailout of Spanish banks to save impecunious Spaniards? Will the citizens of EU countries outside the euro zone, such as Sweden and the U.K., ...
The Enterprise Blog

UK banks' euro zone firewall needs government help
By George Hay
Despite a recent re-tooling, the Bank of England still can't provide lenders with three-year loans like those offered by the European Central Bank. That could leave lenders exposed if the euro zone cracks. It may be up to the UK government to ...
Breakingviews

Euro Zone Industrial Output Falls – Wall Street Journal | The Wall ...
By Newswires
Euro Zone Industrial Output FallsWall Street JournalBy ALEX BRITTAIN Factory output in the euro zone fell sharply in April, an early indication the 17-nati...
The Wall Street Examiner

EU Comm: No Decision On Maturity Of Eurozone Loans To Spain ...
By Market News International
BRUSSELS (MNI) - No decision has been taken on the maturity of Eurozone loans to aid Spanish banks and talks on the subject have not begun as Spain.
ForexLive

How To Play A Possible Eurozone Breakup - Seeking Alpha
As recent events amply demonstrate, a complete break-up of the Eurozone has moved from an unlikely event to something that is a distinct possibility.
seekingalpha.com/.../645741-how-to-play-a-possible-eurozon...

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