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

Wednesday, June 6, 2012

Why the Euro Zone Could Unravel Shockingly Fast

Why the Euro Zone Could Unravel Shockingly Fast
TIME
The small, sophisticated audience asked sharp questions in response: How would a Greek exit from the euro zone be managed? What was being done to improve labor market flexibility in Italy? And what would today's crisis mean to the potential enlargement ...

TIME 

G7 will 'monitor' Eurozone situation; Spain issues plea for help
Los Angeles Times
But as the Eurozone dithers over whether to tackle its crisis country-by-country or as a unified regional front, many are warning that there's not much time left. Financier George Soros in a speech this weekend said that officials have about three ...

Spain makes plea for EU aid for troubled banks - Telegraph: "Spain makes plea for EU aid for troubled banks Spain has admitted for the first time that it can no longer raise money on the global markets or roll over its sovereign bonds, threatening to set off a dangerous escalation of Europe's debt crisis."

Eurozone crisis: India prepares 'contingency plan'
Times of India
India has prepared a contingency plan for Greece exiting the eurozone and even a collapse of the monetary union, officials said on Tuesday. NEW DELHI: India has prepared a contingency plan for Greece exiting the eurozone and even a collapse of the ...

ECB to hold the line as euro crisis deepens
CNNMoney
NEW YORK (CNNMoney) -- As the euro crisis moves toward a decisive moment, the European Central Bank is under renewed pressure to stabilize the troubled currency union. "The euro area seems to be edging closer to its breaking point," said Jens ...

Ousting Greece Will Not Bring Catharsis
New York Times
How the euro zone handles Greece will determine whether the single currency survives — and hence the future of the European Union as a whole. If a Greek exit from the euro zone is mishandled, contagion to the other struggling member-states could be ...

US STOCKS-Futures slide as G7 discusses euro zone crisis
Reuters
Spain says it is being shut out of markets * All of the euro zone's major economies in decline * Futures off: Dow 29 pts, S&P 1.6 pts, Nasdaq 9.5 pts By Rodrigo Campos NEW YORK, June 5 (Reuters) - US stock index futures fell in a choppy session on ...

Euro zone in decline, US and China gain
Chicago Tribune
LONDON/NEW YORK (Reuters) - All of the euro zone's major economies are now in various states of decline, according to business surveys that heaped more pressure on Europe's leaders to stop the region becoming the center of a new global crisis.

GLOBAL MARKETS-Euro zone crisis talks lift euro, shares, commodities
Reuters
G7 call raises prospect of euro zone action * Euro hits one-week high above $1.25 * Shares and commodities bounce off 2012 lows LONDON, June 5 (Reuters) - The euro hit a one-week high, while shares and commodities rebounded on Tuesday as finance chiefs ...

G7 Officials Discuss Eurozone Crisis
Voice of America
Financial officials from the Group of Seven world-leading economies conferred in a special conference call Tuesday about the plight of debt-ridden eurozone nations. Afterwards, Japanese Finance Minister Jun Azumi told reporters in Tokyo that the ...

Voice of America

Euro crisis can build European identity
Christian Science Monitor
When European Union leaders meet in late June, they will weigh ideas that point to more political unity as a way to stem the euro crisis. Will Europeans give up more national sovereignty? By the Monitor's Editorial Board / June 5, 2012 People in ...

Christian Science Monitor

IEA: Euro Zone Situation Difficult but Manageable
Fox Business
The end of the euro zone is not a likely scenario, and while the economic situation in the single-currency bloc is difficult, it remains manageable for energy companies, consumers and stakeholders, the head of the International Energy Agency, ...

Spain warns time is short as G7 discusses eurozone crisis
msnbc.com (blog)
By msnbc.com staff and news services UPDATED 11:29 EDT: The G7 did not release a statement after the conference call Tuesday to discuss the eurozone's financial predicament. Kyodo News Agency reported that Japan's Finance Minister Jun Azumi told ...

Oil edges back above $84; euro-zone woes cap rise
MarketWatch
... MarketWatch SAN FRANCISCO (MarketWatch) — Crude-oil futures climbed back above $84 a barrel Tuesday, with traders somewhat hopeful about prospects for progress to address European debt woes, which have weighed on oil demand in the euro zone.

Stocks close higher amid euro zone fears
msnbc.com
By msnbc.com news services Stocks closed Tuesday higher, recovering some ground from last week's sharp selloff as investor angst about the euro zone's fiscal crisis was offset by data showing the US economy's services sector grew slightly faster than ...

What the eurozone can learn from Estonia
CNN (blog)
By Paul Ames, GlobalPost Sixteen months after it joined the eurozone, Estonia is booming. The economy grew 7.6% last year, five times the eurozone average. Estonia is the only eurozonecountry with a budget surplus. National debt is just 6% of GDP, ...

US STOCKS-Wall St flat as euro-zone worries offset ISM data
Reuters
US ISM services index slightly above forecasts * Euro zone's major economies in decline -surveys * Dow off 0.1 pct, S&P 500 and Nasdaq flat By Chuck Mikolajczak NEW YORK, June 5 (Reuters) - US stocks treaded water on Tuesday as investor angst about the ...

US STOCKS-Wall St edges up as ISM data offsets euro-zone woes
Reuters
US ISM services index slightly exceeds forecast * Euro zone's major economies in decline -surveys * Dow up 0.01 pct, S&P 500 up 0.2 pct, Nasdaq 0.1 pct By Chuck Mikolajczak NEW YORK, June 5 (Reuters) - US stocks inched higher in choppy trade on Tuesday ...

Eurozone crisis: India prepares contingency plan
IBNLive.com
New Delhi: India has prepared a contingency plan for Greece exiting the eurozone and even a collapse of the monetary union, Indian officials said on Tuesday. The eurozonedebt crisis has already put a damper on India's exports to Europe, ...

IBNLive.com

G7 to hold emergency eurozone talks
Financial Times
TORONTO/BERLIN – Finance chiefs of the Group of Seven leading industrialised powers will hold emergency talks on the eurozone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area.

German finance minister says Spain doing "everything right"
Reuters
| BERLIN (Reuters) - Spain is doing "everything right" with its reform measures but the country is suffering the effects of contagion from Greece, German Finance Minister Wolfgang Schaeuble was quoted as saying by Handelsblatt.

German finance minister firm on eurozone medicine
Boston.com
BERLIN (AP) — Germany's finance minister is rejecting any idea of watering down the diet of austerity and structural reforms being used to combat the eurozone debt crisis. Increasing questions have arisen over Berlin's hard line recently as the ...

Analysis: G7 must look beyond China for euro zone rescuer
Reuters
By Nick Edwards | BEIJING (Reuters) - Finance chiefs of the Group of Seven industrialized powers hoping China can step in to rescue the euro zone must look elsewhere for a white knight as Beijing increasingly focuses on domestic issues this year.

Euro zone leaders want common banking system and common government budget
allvoices
By Jennifer Rees As the euro crisis continues rankling, European leaders consider taking the step forward from a common European currency towards common baking system and common government budget. The consideration comes as Europe remains in the midst ...

German finmin says Spain doing 'everything right'
Reuters
* Schaeuble says Spain suffering effects of Greek contagion * Europe shouldn't set false incentives with common debt * Can only discuss euro bonds when have fiscal union BERLIN, June 5 (Reuters) - Spain is doing "everything right" with its reform ...

Eurozone Manufacturing Slumps
Wall Street Pit
But this morning, the focus is back on the eurozone's problems, as well they should when theeurozone manufacturing index slides to 46 as it did in May! YIKES! That's plain awful, folks! Remember, any number below 50 represents contraction in the ...

NY copper slips as euro zone PMIs spur growth fear
CNBC.com
The euro zone's private-sector economy shrank in May at the fastest pace in nearly three years, purchasing managers indexes (PMIs) showed. The data underlined the urgency behind emergency talks held on Tuesday among finance chiefs from the Group of ...

Euro zone crisis: Spain says no need for bailout despite market woes
Economic Times
MADRID: Spain said on Tuesday that it is being virtually shut out of stormy credit markets but argued a bailout was unnecessary and impossible for the eurozone's fourth-biggest economy. Budget Minister Cristobal Montoro said soaring borrowing costs on ...

Stock futures slide as G7 discusses euro zone crisis
CNBC.com
NEW YORK (Reuters) - Stock index futures fell in a choppy session on Tuesday as traders positioned for the outcome of emergency talks among the Group of Seven industrialized nations to tackle a deepening euro zone crisis.

Eurozone PMI Collapses - 24/7 Wall St.
By 247wallst
Source: nationsonline.orgResearch firm Markit reported that eurozone PMI reached a three-year low in May, which puts it back to levels of the last recession. If there was any more proof needed that the region is in a period of GDP contraction, ...
24/7 Wall St.

A Risk of Contagion: The Growing Threat from Syria's WMD | RedState
By Victoria Coates (Diary)
Recent reports of al Qaida infiltration of the Syrian resistance have strengthened our national reluctance to intervene in the slow-motion train wreck that is.
RedState

What if Greece exits the euro zone | Expert Zone
By Hartmut Issel
If Greece fails to form a new government, or forms one that rejects its bailout plan with official creditors, the probability of an exit would rise significantly.
Expert Zone

PIIGS Roasted At A French Real Estate Barbecue, And Then There ...
By Reggie Middleton
A few months ago, I warned all to Watch As Near Free Money To Banks Fails To Prevent Nuclear Winter For European CRE. This warning was an offshoot of the extensive research that I did on the European banking sector, sovereign debt and ...
ZeroHedge

EconomicPolicyJournal.com: Should Canada Bailout the Eurozone?
By Robert Wenzel
The official, speaking on condition of anonymity because he was not authorized to speak publicly on G20 discussions, stressed Germany's responsibility as the economic engine of the troubled euro zone, but he also cited Canada as another ...
EconomicPolicyJournal.com

The Impact of the Financial Crisis in Europe | Team Handball News
By Christer Ahl
The Impact of the Financial Crisis in Europe. Filed under Christer Ahl commentary {no comments}. can we afford elite sports in the same way as before? It seems that the economic realities across Europe, with substantial unemployment and ...
Team Handball News

Dollar mixed vs. rivals, focus on euro zone By Forexpros
By Forexpros
Forexpros - The U.S. dollar was mixed against its major counterparts on Tuesday, as investors eyed talks between leaders of the Group of Seven nations later in the day, while renewed concerns over Spain's financial crisis weighed on ...
Forex Pros RSS News Feed | Forex News

G7 must look beyond China for euro zone rescuer @ Forex Factory
By From reuters.com
G7 must look beyond China for euro zone rescuer - Finance chiefs of the Group of Seven industrialized powers hoping China can step in to rescue the euro zone must look elsewhere for a white knight as Beijing increasingly focuses on ...
Forex Factory

Activist Post: Euro Elite: Using Financial Crisis To Centralize Power
By Activist
As the most powerful economy in Europe, Germany would control the pursestrings of such a European-wide banking union - leading billionaire elite leftist George Soros to describe: a Eurozonedominated by Germany...permanently depressed ...
Activist Post

GLOBAL MARKETS-Euro zone crisis talks lift euro, shares ...
By Newswires
Telegraph.co.ukGLOBAL MARKETS-Euro zone crisis talks lift euro, shares, commoditiesReuters"The respite looks temporary unless followed by concrete meas...
The Wall Street Examiner

Eurocrisis: Russia Offers Its Services by Peter Martino - Ruthfully Yours
By Ruth King
Eurocrisis: Russia Offers Its Services by Peter Martino. By Ruth King on June 5th, 2012.http://www.gatestoneinstitute.org/3093/eurocrisis-russia. The Russians, however, are likely to want something in return. Europe's politicians will not admit it ...
RUTHFULLY YOURS

Eurozone May final services PMI 46.7 | ForexLive
By Gerry Davies
Touch better than flash read of 46.5. Composite PMI 46.0, also fractionally better than flash read of 45.9. But lowest since June 2009.
ForexLive

Commodities Sold On Eurozone Data But QE3 Bets May Spark ...
By DailyFX
Commodity prices are under pressure in European trade as broadly soft economic data out of theEurozone reminded investors that aside from sovereign risk and structural concerns (at least as it relates to Greece), the region is also sinking ...
DailyMarkets.com

Eurozone crisis live: Spanish crisis sends euro sliding - The Guardian
City analysts fear that the Spanish government may need international help, with its borrowing costs hovering at worryingly high levels.
www.guardian.co.uk/business/.../eurozone-crisis-spanish-bank...

Eurozone crisis live: EC presses Spain and France as investors ...
The European commission has released progress reports showing how the 27 members of the EU are performing.
www.guardian.co.uk/.../eurozone-crisis-spain-progress-reports

G7 to hold emergency euro zone talks, Spain top concern - Yahoo ...
From Yahoo! News: TORONTO/BERLIN (Reuters) - Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro ...
news.yahoo.com/g7-hold-emergency-eurozone-talks-spain-to...

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