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

Tuesday, July 31, 2012

ECB intervention hopes drive markets

Debt crisis: ECB intervention hopes drive markets higher - Telegraph: "European markets rose sharply amid mounting speculation of a dramatic intervention by the European Central Bank to arrest the crisis engulfing the region."

Spanish bail-out 'impossible’, experts warn - Telegraph: "A full-blown sovereign bail-out of Spain would be economically and politically impossible and cost up to €650bn (£510bn), an in-depth study has warned."

Germans 'better off without euro' - poll - Telegraph: "The majority of Germans believe the country would be better off without the euro, a poll suggested on Sunday, as the economy minister reiterated doubts over whether Greece can stay in the single currency."

GRAPHIC-Euro zone cross border bond holdings stable in Q2
Reuters
LONDON, July 30 (Reuters) - Euro zone banks' cross-border holdings in the region's bonds stabilised in the second quarter near their lowest levels in a decade, as the effects of the European Central Bank's one trillion euro long-term funding injection wore off.

No respite for battered euro zone economy
Reuters
BRUSSELS (Reuters) - Economic sentiment in the euro zone fell to near a 3-year low in July as the bloc's economy deepened its slump and businesses became more pessimistic. The 2-1/2 year debt crisis that spread from Athens - now struggling to stay in ...

Enter the ECB
Forbes
Despite these apparent limitations, the ECB has become a central figure in the crisis-fighting measures in the Eurozone sovereign debt crisis. The ECB first intervened in the market through the SMP, through which the ECB used existing funds to purchase ...

RPT-Euro zone crisis heads for September crunch
Reuters
Summer break first, then crisis looms large again. * Euro zone faces critical hurdles including Greece, Spain. * Dutch elections may complicate Greek talks. * Negotiations likely on further Greek debt write off. * Continued pressure for banking licence for bailout ...

Draghi must find way for eurozone's central bank to deal with crisis while ...
Washington Post
FRANKFURT, Germany — European Central Bank president Mario Draghi has already taken Europe's monetary authority into uncharted territory. Now, with the debt crisis in Europe threatening further disaster, he may have to push it even farther into the ...

No respite for euro zone as confidence falls again
Reuters
Morale weakens for fourth straight month in July. * Economic sentiment falls in Germany, France, Spain. BRUSSELS, July 30 (Reuters) - Economic sentiment in the euro zone fell again in July as the bloc's economy deepened its slump and factory managers ...

US, Germany Stress Cooperation to End Euro Crisis
ABC News
U.S. Treasury Secretary Timothy Geithner and his German counterpart stressed the need for coordinated action Monday in the face of the eurozone debt crisis and faltering global growth, but left open what joint steps Europe and the United States would take ...

Why a Euro-Zone Crisis Can't Be Avoided Very Much Longer
TIME
No one doubts that the ECB can provide short-term support for euro-zoneeconomies. But even so, most forecasters believe that the euro zone is heading for a crisis. And whatever form that crisis takes, the impact on the U.S. would be negative. So why did the ...

TIME

Eurozone crisis: strong rally falters as euro loses ground
The Guardian
The strong rally in Europe's financial markets in the wake of the European Central Bank's pledge to save the euro showed signs of running out of steam on Monday as investors raised doubts about the ability of the Frankfurt-based organisation to deliver on its ...

The Guardian

Geithner visit stirs hope for Eurozone | The Raw Story
By Agence France-Presse
The top US finance official meets his German counterpart and the head of the European Central Bank Monday, fueling hopes Europe is about to take decisive action to save the crisis-wrackedEurozone. US Treasury Secretary Timothy ...
The Raw Story

Euro crisis: Growing up hungry in Greece | MinnPost
By By Thodoris Skoulis and Charles McPhedran
ATHENS/PATRAS, Greece — Μarcos Efcarpos is only 10 years old, but he already knows what the euro crisis means.He lives with his single mother, an English teacher named Nena, in an apartment in the poor, waterfront neighborhood of ...
The Latest posts on MinnPost

Ryanair expects eurozone crisis to curb fare rises - Travel ...
Budget airline admits that fare increases will be 'restrained' this winter due to spending cuts and the eurozone crisisRyanair has admitted that fare increases will be "restrained" this winter due to spending cuts and the eurozone crisis, as the ...
eWallstreeter

Eurozone Confidence Weakens in July - 24/7 Wall St.
By Trey
orgThe European Commission announced today that its July economic sentiment indicator for the 17-nation eurozone fell to 87.9 from 89.9 in June. Economists surveyed by Dow Jones Newswires had forecast a reading of 88.9. The consumer ...
24/7 Wall St. - Market Wire

Mish's Global Economic Trend Analysis: Eurozone Retail Sales Sink ...
By Mike Mish Shedlock
Mish's financial blog covers global news and macroeconomic events regarding the world economy. The blog's primary focus is inflation, deflation, and hyperinflation topics, especially currencies, gold, silver, crude, oil, energy and precious ...
Mish's Global Economic Trend Analysis

Eurozone crisis knocks Greek tourist trade | World news | The ...
Tourism makes up 16.5% of the Greek economy, the largest single contributor with one in five Greeks employed the sector.
www.guardian.co.uk/.../eurozone-crisis-greece-tourist-trade

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