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

Saturday, August 4, 2012

Euro-Zone Business Activity Shrinks

Euro-Zone Business Activity Shrinks, Germany a Concern
Wall Street Journal
Business activity in the euro zone continued to shrink in July, new orders plunged and German private-sector activity fell at its steepest rate in more than three years, a sign that the euro zone'sdebt crisis is taking its toll on the region's biggest economy and ...

Debt crisis: S&P downgrades 15 Italian banks - Telegraph: "Ratings agency Standard & Poor's took ratings action on a range of Italian banks tonight, including downgrading 15 financial institutions, citing increased credit risk for the country's economy and banks." 

Spain inches closer to asking for bailout - Telegraph: "Spain inched closer to seeking a sovereign bailout as prime minister Mariano Rajoy opened the door to a request, but said he would first need to know the attached conditions."

Euro Zone Breakup Expected To Jack Up Gold Prices: Report
International Business Times
Rising uncertainty and a loss of faith in the ability of European Union leaders to contain the escalating euro crisis will drive demand for gold as a safe haven, jacking up prices to $2000 per ounce before the end of this year in the face of renewed fears of a euro ...

International Business Times

Germany alone in euro zone to issue bonds
Reuters
The European Central Bank President Mario Draghi backed his pledges to preserve the euro with promises for eventual bond-purchases but only if governments activated the euro zone'sbailout funds to join the ECB in buying bonds. The comments have ...

Europe Struggles to Escape Delusion and Propose Solutions to the Euro-Crisis
Reason Online (blog)
The International Monetary Fund has warned of the need for a drastic "policy game changer" in the eurozone in order to address the spreading crisis. After consultations with numerous countries the IMF predicted that without further action the eurozone could ...

Reason Online (blog)

Reverse Operation Twist May Seal Eurozone's Fate
Seeking Alpha
Throughout the eurozone debt crisis, European officials have time and again proven their determination to stick to short-term solutions -- "can-kicking" if you will -- while demonstrating a steadfast refusal to face the long-term reality that fiscal irresponsibility ...

Eurozone crisis live: Spanish PM delays decision on bailout
The Guardian
But, she argues, that the announcements should help restore confidence in the eurozone. However, in the real economy, Draghi's promises to act are invaluable. It could give investors faith enough to invest in the real economy because the ECB's long-term ...

Weekly Eurozone Watch: Conditionality
Business Insider
At the Spanish prime minister's traditional mid-year press conference, Mr. Rajoy declined to say if Spain plans to ask for support from the European Financial Stability Facility, the euro zone'stemporary rescue fund, saying he wants to wait for more information ...

Europe Pauses to Consider Draghi's Remarks
New York Times
“It's a better outcome with one caveat: the delay,” said Kenneth Wattret, chief euro zoneeconomist at BNP Paribas in London. “Markets have a very short impatience threshold.” Stocks and the euro dropped on Thursday but rallied sharply on Friday, with the ...

Euro Gets a Stay of Execution
Wall Street Journal (blog)
The euro is rapidly running out of time, but Mario Draghi may just have succeeded in extending its life a little longer. By suggesting on Thursday that he is moving closer to a master plan for reducing borrowing costs for euro-zone debtors, the European Central ...

Wall Street Journal (blog)

Draghi Continues Handwaving as EuroCrisis Worsens « naked ...
By Yves Smith
The eurozone is now in limbo, with intense pressure building on Spain's premier, Mariano Rajoy, to fall on his sword and request the EFSF package needed to set the Draghi plan in motion. Mr Rajoy said the proposals had “positive aspects” ...
naked capitalism

To Do Saturday: Euro Zone | Velvet Roper – New York Observer
By Daniel D'Addario
It's a night in Monaco—but don't worry, you don't need to call in a favor to get on someone's flight from Teterboro. It's “Monaco” in the sense that your high school prom was “a night at the Oscars”: a fantastically themed occasion requiring you to ...
Velvet Roper - New York Observer

Forex - Greenback broadly lower on positive euro zone retail sales ...
By Forexpros
Forexpros - The greenback traded broadly lower against its major rivals Friday, ahead of a highly anticipated U.S. employment report, shrugging off Thursday's disappointing remarks by the European Central Bank as surprisingly positive euro ...
Forex Pros RSS News Feed | Forex News

China slowdown bigger worry than eurozone? – Business 360 - CNN
By kevinvoigt
Hong Kong (CNN) – Will China's economy have a hard landing, soft touchdown or slow ascension? The lack of strong action Thursday from the European Central Bank on Europe's spiraling debt crisis – coupled with similar inaction from the ...
Business 360

XE.com - TABLE-Euro zone June retail sales rise 0.1 percent m/m
BRUSSELS, Aug 3 (Reuters) - The European Union's statistics office Eurostat. released on Friday the following data for retail sales volumes in June in the. euro zone and the European Union as a whole. RETAIL SALES VOLUME. Percentage ...
XE Forex News

The financial crisis five years on: share your stories | Business ...
Tell us using the form below how the credit crisis has affected you, five years on from the week world's money markets froze.
www.guardian.co.uk/.../financial-crisis-five-years-your-stories

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