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

Tuesday, July 3, 2012

Doubts Cast On Euro Summit Deal

Debt crisis: Finland threat to plans to unleash ESM - Telegraph: "Finland, one of the eurozone’s few remaining AAA-rated economies, has pledged to block Brussels’ celebrated plans to allow its new bail-out fund to buy sovereign bonds in the market."

Eurozone manufacturing dwindles in June - Telegraph: "Eurozone manufacturing activity remained at a three-year low in June, as production and orders in the sector slid."

Debt crisis: as it happened, July 2, 2012 - Telegraph: "Finland and Holland move to block bond-buying plans, casting the first doubts on last week's summit deal, as figures show a slide in Spain, Greece and Italy's manufacturing activity and a rise in unemployment across the eurozone." 

Eurozone joblessness among young rises - Telegraph: "More than one in three young Italians are out of work after the youth unemployment rate hit a record 36.2pc in May."

US manufacturing contraction feeds fear of global slowdown - Telegraph: "America's manufacturing sector has contracted for the first time in almost three years, intensfying fears that the world's major economic centres are suffering a simultaneous slowdown."

Eurozone unemployment climbs to record high in May
Los Angeles Times
Unemployment in the 17-nation Eurozone climbed to another record high in May, reflecting deep public sector job cuts and a lack of employer confidence in the most indebted, recession-wracked countries that use the euro common currency.

Eurozone unemployment rises to 11.1 percent in May, highest rate since euro ...
Washington Post
BRUSSELS — Unemployment in the 17 country euro currency bloc hit another record in May as the continent continued to be buffeted by its debt crisis, official figures showed Monday.

Eurozone unemployment hits new record in May
Fox News
Unemployment in the 17-country euro currency bloc hit another record in May as the cripplingfinancial crisis pushed the continent toward the brink of recession, official figures showed Monday.

Euro-Zone Growth Still a Distant Prospect
Wall Street Journal
For both Italy and Spain, it is growth ultimately that will determine whether their debts are sustainable and whether they can retain their membership in the euro.

Unemployment in Euro Zone Hits Record High
New York Times
Reports released on Monday, including data showing 11.1 percent unemployment in May, underscored fundamental weakness in the euro zone economy.

At midday: Euro zone optimism dented by US data
Globe and Mail (blog)
U.S. manufacturing survey suggests the sector is contracting again.

Globe and Mail (blog)

New high for euro zone joblessness
Reuters
BRUSSELS (Reuters) - Joblessness in the euro zone rose to a new record high in May, pushed up by lay-offs in France, Spain and even stable Austria, as the 2-1/2 year debt crisis continued to eat away at.

Euro zone joblessness reaches new high in May
Reuters
Unemployment rises to 11.1 pct in May* Debt crisis, austerity likely to drive rate higherBRUSSELS, July 2 (Reuters) - Joblessness in the euro zonerose to a new euro-era record in May, pushed higher.

Euro-Zone Data Show No Sign of Improvement
Wall Street Journal
Activity at euro-zone factories continued to fall sharply in June, while the currency area's unemployment rate rose to a record high in May, suggesting the region's economy ended the second quarter on a poor footing.

Wall Street Journal

Euro Zone Crisis: Unemployment At Record High
Care2.com (blog)
Unemployment in the 17-nation euro zone rose to a record high in May to 11.1 percent up from 11.0 percent in April, the highest since the data series started in 1995 and the highest since the euro was created in 1999.

Eurozone unemployment rises to record high 11.1%
CNN
Eurozone unemployment rose to 11.1% in May, the highest level since the euro launched as a common currency in 1999.

Euro zone factories hit hard in June, job cuts rise
Reuters
LONDON (Reuters) - Euro zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest.

Eurozone Unemployment Hits Record as Economic Downturn Deepens
HispanicBusiness.com
Unemployment in the eurozone climbed for the 13th consecutive month in May to hit a record 11.1 percent, data published Monday showed, as an economic downturn deepens across the region.

Eurozone unemployment hits record high
Financial Times
The European Central Bank is widely expected to make an interest rate cut this week to try to invigorate the eurozone's ailing economy after unemployment in the region climbed to a record high and a key survey of manufacturing showed the sector to.

CEE manufacturing dips, hit by weak euro zone
Reuters
WARSAW (Reuters) - Eastern Europe's dominant manufacturing sectors shrank for the third month running in June, dragged down by debt turmoil in the euro zone that is also weighing heavily on their growth.

Polish, Czech Surveys Indicate Output Contraction as Euro Crisis Weighs
Wall Street Journal (blog)
Manufacturing in Poland and the Czech Republic continued to contract in June, according to surveys published Monday, as the economies of central Europe are weighed down by the debt and financial crisis of the region's euro-zone trading partners.

FOREX-Euro down vs dollar and yen; doubts over EU deal
Reuters
Euro down vs dollar after surge on Friday * Market players start to question EU summit deal * PMI data confirms euro zone manufacturing slowdown NEW YORK, July 2 (Reuters) - The euro slipped.

Markets remain buoyed by euro summit deal
Boston.com
Last Friday, the eurozone leaders agreed a set of measures to alleviate the financial crisis, including the establishment of a banking union and changes to the way the bailout fund operates. Investors cheered the measures, which they concluded reduced ...

FOREX-Euro falls as doubts over EU deal creep in
Reuters
Euro dips vs dollar after surge on Friday * Market players start to question EU summit deal * PMI data confirms euro zone manufacturing slowdown By Anirban Nag LONDON, July 2 (Reuters)

Think 8.2% unemployment is bad? It's a record 11.1% in Europe
Los Angeles Times
More than one in 10 people in the euro zone is out of work, including nearly a quarter of Spaniards, pushing the currency bloc's unemployment rate to a record high 11.1% in May.

Euro-Zone Manufacturing Continues Slump
Wall Street Journal
Activity in euro-zone factories continued to fall sharply in June, suggesting the region's economy ended the second quarter on a poor footing with little momentum for a recovery later in the year.

The heart of euro crisis still untouched
Globe and Mail
Germany keeps giving ground to stave off a complete collapse, but amount and cost of debt weighing down any progress.

Globe and Mail

ECB bond buy freeze remained ahead of EU summit
Chicago Tribune
FRANKFURT (Reuters) - The European Central Bank extended a shut down of its government bond purchase program to a fourth month last week, a freeze the bank hopes can be made permanent by handing the controversial role over to the euro zone's ...

Finland threatens eurozone bailout plans
BBC News
Finland says it rejects part of the EU summit deal to use eurozone bailout funds more flexibly.

BBC News

Euro-zone jobless rate hits record 11.1% in May
MarketWatch
FRANKFURT (MarketWatch) -- The unemployment rate in the 17-nation euro zone rose to 11.1% in May from 11% the previous month, hitting its highest level since the current statistical series began in 1995, the European Union statistical agency, Eurostat, ...

Eurozone jobless rate hits record 11.1%
AFP
By Claire Rosemberg (AFP) – 3 hours ago. BRUSSELS — The eurozone debt crisis delivered more bad news on Monday with data showing record high unemployment of 11.1 percent and a manufacturing outlook at its lowest levels for three years.

AFP

Euro Zone Compared to 'Titanic' as Data Disappoint
CNBC.com
The euro zone is lacking in “lifeboats” as the Titanic once was, a UK politician warned Monday as employment and manufacturing data painted a gloomy picture of the region's prospects.

CNBC.com

Eurozone Jobless Rate Hits Record as Manufacturing Contracts
Voice of America (blog)
Twin reports are showing new economic weakness in the 17-nation euro currency bloc, with the jobless rate reaching a record level and manufacturing activity unchanged at a three-year low. The European Union said Monday the eurozone's unemployment ...

Record 11.1 Percent Unemployment in Eurozone | The Weekly ...
By Daniel Halper
Read conservative news, blogs and opinion about Euro, Europe, eurozone, Jobs and Unemployment from The Weekly Standard, the must read magazine available in online edition.
The Weekly Standard Blog

Eurozone Unemployment Rises To 11.1 - Business Insider
By Joe Weisenthal
Eurozone Unemployment Hits A Brand New High Of 11.1%. Joe Weisenthal | Jul. ... Eurozoneunemployment hit 11.1% in May, a brand new high. That's up from the ... Ask Joe A Question >. Tags: Eurozone | Get Alerts for these topics » ...
Business Insider

Fins and Dutch doubt euro zone deal — RT
By RT
Finland and the Netherlands threaten to block a European summit deal that is designed to save Spain and Italy from being swamped in the bloc's debt crisis.
News RSS : Today

Eurozone Crisis Impacts Cyprus's Natural Gas Dreams
By admin@namecake.com (John Daly)
Cyprus's natural gas plans have suffered a blow after several of the largest banks there last month were essentially downgraded to junk status.
OilPrice.com Daily News Update

June Eurozone PMI - Business Insider
By Joe Weisenthal
It was the same as last month, but the number is still fundamentally ugly. Eurozone PMI came in at 45.1, according to markit. image. Since anything below 50 represents contraction, this is a very bad number. This is represents most of the PMI ...
Clusterstock

Eurozone Unemployment Reaches All-Time High - 24/7 Wall St.
By 247wallst
Euro area unemployment reached the highest level since the alliance was formed. The latest numbers, according to Eurostat: The euro area (EA17) seasonally-adjusted unemployment rate was 11.1% in May 2012, compared with 11.0% in ...
24/7 Wall St. - Market Wire

NewsDaily: Finns, Dutch cast first doubt on euro zone deal
By Terhi Kinnunen
Finland and the Netherlands, the euro zone's most hardline creditor states, cast the first doubts on Monday on a European summit deal designed to save Spain and Italy from being engulfed by the currency bloc's debt crisis.
NewsDaily: Top Headlines

Calculated Risk: Eurozone Recession: Record Unemployment ...
By Bill McBride
Eurozone Recession: Record Unemployment, Manufacturing Shrinks. by Bill McBride on 7/02/2012 09:04:00 AM. From Eurostat: Euro area unemployment rate at 11.1%. The euro area (EA17) seasonally-adjusted unemployment rate was ...
Calculated Risk

French Politics: Eurozone Unemployment Hits 11.1%, a record
By Art Goldhammer
Le taux de chômage dans la zone euro a atteint en mai un nouveau record, à 11,1 % de la population active, contre 11 % en avril. Selon les estimations d'Eurostat, 17,56 millions de personnes étaient au chômage dans la zone euro en mai, ...
French Politics

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