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

Monday, June 4, 2012

Soros: 3 months to save the eurozone

George Soros says Germany has three months to save the eurozone
Telegraph.co.uk
George Soros, the billionaire investor, has warned Germany it has three months to save the eurozone or risk the destruction of the European Union and a “lost decade”. By Angela Monaghan, Economics Correspondent Speaking at a conference in Italy Mr ...

Telegraph.co.uk

Euro Zone Nears Moment of Truth on Staying Together
New York Times
LONDON — As Spain's economic crisis deepens and uncertainty swirls over Greece's future in theeuro zone, the guardians of the increasingly fragile European monetary union are near a moment of truth: Can they muster the will and resources to keep the ...

US jobs, Chinese factories add to growth fears
Reuters
As if the euro zone's struggle to avoid dissolution were not enough, US job creation slowed for the fourth straight month in May. "It would be hard to believe the Fed is not concerned," said Thomas Lam, an economist at DMG & Partners Securities in ...

Europe mulls major step towards "fiscal union"
Reuters
One year later, with the euro zone's debt crisis threatening to tear the bloc apart, Germany is pushing its partners for precisely the kind of giant leap forward in fiscal integration that the now-departed European Central Bank president had in mind.

What caused the financial crisis?
Herald Sun
HERALD Sun Business Editor Peter Taylor explains what caused the latest financial crisis and what to expect Q. What is happening to the global economy? A. Bleak economic figures from the US, Britain, mainland Europe and China have signalled that growth ...

Merkel Rejects Debt Sharing as Obama Urges Europe to Do More
San Francisco Chronicle
June 3 (Bloomberg) -- German Chancellor Angela Merkel hardened her opposition to joint debt sharing in the euro region as President Barack Obama singled out Europe's leaders for not doing enough to arrest the financial crisis. With Europe's debt crisis ...

A real banking union can save the eurozone
Financial Times
By Wolfgang Münchau We have reached a rare moment in the eurozone crisis: I seem to be more optimistic than financial markets. I do not believe that Greece will leave the eurozone and I see a small chance that the June 28 meeting of the European ...

Global economy at risk as US, Europe and Asia slow
Fox News
But spending cuts and tax hikes are causing economies to shrink across the eurozone. In a blunt warning, European Central Bank chief Mario Draghi last week called the existing setup of the euro single currency "unsustainable" without stronger political ...

Three Months to Save the Euro: George Soros
CNBC.com
Euro-zone governments have around three months to ensure the survival of the single currency, billionaire investor George Soros said in a speech on Saturday. “We are at an inflection point. After the expiration of the three months' window, ...

Spain's PM urges Eurozone to give up sovereignty to save euro
Daily News & Analysis
By Philip Aldrick & Harry Wallop | Agency: The Daily Telegraph Mariano Rajoy, the Spanish prime minister, has called for the eurozone to have "centralised control" over the budgets of all the countries using the euro. Rajoy has become the latest ...

Three voices on the jobs report and what's ahead
Boston.com
In June 2007, it was running at 3.8 percent, so wage growth is half of what it was before the Lehman Brothers collapse and the financial crisis. It's just not good. Dan Greenhaus, chief global strategist for the brokerage BTIG in New York: There was ...

Irish Yes needs a eurozone response
Financial Times
Through clenched teeth, Irish voters have squeezed out a Yes to the eurozone fiscal compact. The 60 per cent to 40 per cent margin of victory looks comfortable. But there was neither enthusiasm nor conviction behind the endorsement.

ECB might cut rates as eurozone crisis deepens
Taipei Times
The European Central Bank (ECB) might cut interest rates again soon as the eurozone debt crisis deepens, but it will continue to insist that it is up to governments to find a lasting solution, analysts say. ECB watchers predict the central bank ...

Financial Crisis Highlights Fault Lines in American Political Process
Independent Voter Network
By Alan Markow on 06/03/2012 in Economy, Policy Reform with 0 Comments During this period of economic crises for our country and its people, one would think the priority of national leaders would be finding solutions and working together to right the ...

The Spanish threat to the euro
Pittsburgh Tribune-Review
By John Browne Until recently, international attention was focused on the eurozone's efforts to rescue Greece. Some observers thought that, with German support, expansion of the eurozone was a key steppingstone in the march toward a single world ...

EU, ECB working up eurozone 'master plan'
AFP
BERLIN — The heads of four key European institutions are hammering out a "master plan" to lead the eurozone out of its crippling crisis, a German Sunday newspaper reported. European Central Bank chief Mario Draghi, European Union president Herman Van ...

AFP

ECB may cut rates as eurozone crisis deepens
AFP
By Simon Morgan (AFP) – 16 hours ago FRANKFURT — The European Central Bank may cut interest rates again soon as the eurozone debt crisis deepens, but it will continue to insist that it is up to governments to find a lasting solution, analysts say.

AFP

Is the eurozone facing a breakdown?
Malta Independent Online
by Ryan Callus For the first time ever we have recently seen European leaders publicly contemplating the notion of Greece leaving the eurozone. However, we have not been told about the repercussions if the eurozone faces a breakdown.

Europe has 3 months to address crisis: Soros
MarketWatch
By Deborah Levine, MarketWatch NEW YORK (MarketWatch) — The European Union has three months to address its financial crisis before the markets stop giving it time, but in the end the euro is likely to remain, said George Soros, chairman of Soros Fund ...

Philippines: One of the few bright spots left
Philippine Star
Following inconclusive Greek elections, growing risk of a Greek exit from the Eurozone and escalating woes in Spain and Italy, investors fled to safe havens. The impact of the European crisis on the real economy has begun to emerge as countries around ...

In A Brilliant New Speech, George Soros Reveals The Exact Moment That Angela ...
Business Insider
George Soros delivered a speech today in Trento, Italy today on the Eurozone crisis and it's an absolute dynamo. You really ought to read the whole speech, which is on his personal webpage, as it starts off with an overview of his economic theories ...

Business Insider

India shivers under Euro Zone chill
Hindu Business Line
Recessions and depressions teach us one thing quite clearly: no country or region is immune from its global contagion. And the recent global economic crisis has brought to the fore the vulnerabilities of the Indian economy as well.

Views of EU countries and leaders
GalesburgPlanet.com
The euro crisis has hit the southern European nations surveyed (Greece, Italy and Spain) much harder than the northern (Britain, France and Germany) or eastern countries, (Poland and the Czech Republic). But it is Greece's reputation, more than that of ...

Euro bailout fund should be used for banks: France
Reuters
| PARIS (Reuters) - French Finance Minister Pierre Moscovici said on Sunday that it would better to recapitalise troubled European banks using the ESM bailout fund than use government money. "I think that to recapitalise banks it's better to go through ...

ECB to review crisis options
Financial Times
By Ralph Atkins in Frankfurt The European Central Bank will on Wednesday review its strategy for combatting the eurozone crisis with options including an interest rate cut as it piles pressure on politicians to make far-reaching reforms of Europe's ...

Spain's PM: Fiscal Union + Monetary Union = New Euro Zone
International Business Times
By JJ McGrath: Subscribe to JJ's RSS feed Spanish Prime Minister Mariano Rajoy proposed on Saturday that the 17 countries in the euro zone create a common fiscal authority, with each surrendering a significant amount of its national sovereignty to send ...

International Business Times

World unable to bail out together
Minneapolis Star Tribune
ANALYSIS: The coordination that averted a global depression four years ago missing in newfinancial crisis. The US economy, with some job growth, has been relatively calm compared with the crisis in Europe. Above, Wells Fargo recruiters Eileen ...

RealClearWorld - Euro Crisis Kills a Counter-American Idea
By Fabio Rafael Fiallo
Euro Crisis Kills a Counter-American Idea. By Fabio Rafael Fiallo. Whoever followed the launching of the euro in January 2002 is not about to forget the high expectations placed by U.S.-bashers of the Old Continent on the creation of the ...
RealClearWorld - Articles

Eurozone policy action is coming? | The Big Picture
By Kiron Sarkar
May was indeed a terrible month for equities. Asian, European and US markets declined by 8%, 7% and 6% respectively. The dreadful PMI numbers in China and.
The Big Picture

MoreLiver's Daily: 3rd Jun - Weekender: Euro Crisis
By MoreLiver
At the end of a week of renewed financial strains in the Eurozone, there was a little political relief for embattled leaders. A referendum in Ireland approved a system of discipline for European government finances. The rules could be a step on ...
MoreLiver's Daily

The Coming Crisis: ECB May cut rates as eurozone crisis deepens
By Lynsey
FRANKFURT — The European Central Bank may cut interest rates again soon as the eurozone debt crisis deepens, but it will continue to insist that it is up to governments to find a lasting solution, analysts say. ECB watchers predict the central ...
The Coming Crisis

ECB rate cut eyed as euro crisis bites – Fin24 | The Wall Street ...
By Newswires
OpEdNewsECB rate cut eyed as euro crisis bitesFin24Frankfurt - The European Central Bank may cut interest rates again soon as the eurozone debt crisis deep...
The Wall Street Examiner

John Ward – Official : The Eurozone Meltdown Has Hardly Got ...
By lucas2012infos
British taxpayers have pumped £11.7bn into Greece, Ireland and Portugal through the IMF, an early European rescue fund, and a bilateral loan to Ireland. That's £4 out of every £5 of George Osborne's half-hearted, misguided and much ...
Lucas 2012 Infos

Eurozone crisis hits unemployed, sends rate to record 11 ...
By agyateng
Eurozone crisis hits unemployed, sends rate to record 11%. The eurozone debt crisis has hit workers hard, with grim data showing Friday a manufacturing freefall and unemployment at a record 11 percent, piling pressure on EU leaders to ...
Ghanamma.com

Spitfire List | Official opposition to the eurozone austerity fetish ...
By podcast@spitfirelist.com (Dave Emory)
The two biggest P.I.I.G.S., Italy and Spain, appear to be wavering in their commitments to an austere awesome future. And since Spain and Italy have been two of the more 'well behaved' little piggies up to this point, this is a most distressing ...
Dave Emory's "For The Record"

French Politics: How Do European Economists View the Euro Crisis?
By Art Goldhammer
Most expect a fiscal union to result, and most do not expect Greece to leave or be expelled from theEurozone. Depending on whether or not you think that economists are any less clueless than the rest of us, this may or may not be taken as ...
French Politics

Max Keiser on Bilderberg's Role in the Financial Crisis
By noreply@blogger.com (Robert Wenzel)
Max Keiser on Bilderberg's Role in the Financial Crisis. Infowars correspondent Patrick Henningsen talks with Max Keiser in London about this week's Bilderberg meeting in Chantilly and how they factors into the current global financial ...
EconomicPolicyJournal.com

Soros Says Germany Has Three Months to Resolve Euro Crisis ...
By Charles Gross
Billionaire George Soros, speaking at an economic conference in Trento, Italy Saturday, said Germany has a three-month window to lead Europe out of the debt crisis. Soros said it is unlikely that Greece will be able to adhere to its bailout ...
Benzinga - Stock Market Quotes,...

Eurozone Unemployment Remains At Record 11 Percent
BRUSSELS (AP) — Unemployment across the 17 countries that use the euro stuck at 11 percent in April — the highest level since the single currency was ...
www.huffingtonpost.com/.../eurozone-unemployment-jobless...

Will the eurozone collapse? - Inside Story - Al Jazeera English
The head of the European Central Bank has warned that the currency union has become ...
www.aljazeera.com/programmes/.../201261183736530374.ht...

Germany's Angela Merkel comes under increasing fire on euro crisis ...
BERLIN - If it seems to German Chancellor Angela Merkel that the world is against her, she may be right. Her insistence that debt-ridden European nations cut ...
articles.latimes.com/.../la-fg-europe-merkel-debt-20120523

Euro Crisis from Long Perspective « ThinkMarkets
by Chidem Kurdas The European crisis, in progress for years and still showing no sign of resolution, is largely the result of elite hubris. To create the euro and ...
thinkmarkets.wordpress.com/.../euro-crisis-from-long-perspect...

Americans Not Highly Focused on European Financial Crisis
Americans are not paying very close attention to the financial situation in Europe, with 49% following it at least somewhat closely. Seven in 10 are concerned ...
www.gallup.com/.../americans-not-highly-focused-european-fi...

Spain's Rajoy Calls For Euro Zone Fiscal Integration
Wall Street Journal
By JEFFREY T. LEWIS MADRID—The euro zone needs to increase its fiscal integration even if it means that member countries could lose some autonomy, Spanish Prime Minister Mariano Rajoy said Saturday. During a televised speech from the Catalonian city ...

Spain calls for eurozone fiscal authority
Financial Times
MADRID, June 2 - Spain called on Saturday for a new fiscal eurozone authority which would harmonise national budgets and manage the block's debts. Mariano Rajoy, prime minister, said the authority was the answer to the European debt crisis and would go ...

Eurozone crisis: A love-hate relationship imperils the currency
Los Angeles Times
The Irish voted "with a heavy heart" this week to tough out the hardships of remaining a member of the Eurozone. Greek and French voters protested the pain of austerity last month by throwing out leaders who had been slashing jobs and services to ...

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