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

Saturday, August 11, 2012

Euro Zone to Contract Despite German Growth

Euro Zone to Contract Despite German Growth
Wall Street Journal
Germany's government Friday said it believes the country's economy grew at a moderate pace in the second quarter, but data from elsewhere suggests that won't be enough to save the euro zone from suffering a return to economic contraction. Figures on ...

UK recession not as deep as feared on improved construction data - Telegraph: "Britain's recession might not be as deep as feared after better-than-expected construction figures raised the chance that official GDP figures for the second quarter would be revised up."

Struggling Euro Members Should Be Removed: Euro Architect
CNBC.com
But Germany has increasingly become isolated as the euro zone's most prosperous member, as it has refused to listen to calls to create jointly-issued euro zone bonds to solve the region's debt crisis. As chief economist of the ECB between 1999-2006 ...

CNBC.com

Justice Department drops Goldman financial crisis probe
Reuters
The decision not to prosecute Goldman, a firm held up by critics as a symbol of Wall Street greed during the 2007-2009 financial crisis, highlights the difficulty in prosecuting crisis-related cases. Few expected the bank to face criminal charges, but ...

Norway oil fund ditches more euro zone assets
Reuters
Raises fixed income exposure compared with stocks. * Bought US, German, Japanese bonds; sold UK, Italy. * Says happy to hold bonds paying negative yields. * Further cuts exposure to euro zoneperiphery. * Will invest more in China shares when limits ...

Polish Upgrade Unlikely Amid Euro Crisis, Moody's Says
Businessweek
Poland probably won't get a credit- rating upgrade at Moody's Investors Service as Europe's debt crisis curbs trade and economic expansion. Moody's plans to cut its 2013 growth forecast for Poland from about 3.1 percent and predicts gross domestic ...

ECB Signals Debt Crisis Is Boosting Italian Insolvencies
Bloomberg
Corporate defaults increased “substantially” in the second half of 2011 as the crisis intensified, compounding the effects of weakening economic growth, the Frankfurt-based ECB said in an article on risk to private companies from the debt crisis ...

Finnish PM Calls for US-Style Bank Fund to Battle Financial Crisis
Wall Street Journal
... which set up similar institutions in the wake of the 2008 financial crisis. The European Union is expected to outline plans for a banking union and increased supervision, which is seen by backers as key to stemming the euro zone debt crisis, by ...

Debt crisis: as it happened - August 10, 2012
Telegraph.co.uk
European markets finished their five-day winning streak today as weak Chinese data and concerns over the eurozone debt crisis begin to re emerge, causing traders to start locking in their profits. .... 08.01 If you were reading the blog yesterday you ...

Telegraph.co.uk

How to Tune Out the Euro Crisis
New York Times (blog)
Each year, I retire to our Russian dacha for as many days as we can manage, to savor the quiet, soak up the sun and the simpler life, albeit one complicated by a lack of running water, occasional power outages and a wide variety of insects ready to ...

Financial crisis-themed reading as Europe takes a holiday
The Guardian (blog)
Financial crisis-themed reading as Europe takes a holiday. No need for Europeans to waste a day at the ..... Country joins Greece, Ireland and Portugal in bowing to need for aid to survive European debt crisis. Hot topics. Budget 2012 · Economic growth ...

The Guardian (blog)

Happy Fifth Birthday, Financial Crisis | The Big Picture
By Barry Ritholtz
2 Responses to “Happy Fifth Birthday, Financial Crisis”. Jo Says: August 10th, 2012 ... He also said it's "not reasonable to call on the ECB to buy bonds and that its "wrong to think countries can stay in the euro zone at any price."... read more » ...
The Big Picture

Borepatch: How Germany caused the Euro crisis
By Borepatch
How Germany caused the Euro crisis. This is probably the most interesting thing I've read on theEuro crisis: Merkel's policy under these circumstances was imposed on her by reality. Germany was utterly dependent on its exports, and its ...
Borepatch

U.S. Justice Department drops Goldman financial crisis probe ...
By Stabroek staff
WASHINGTON, (Reuters) - The U.S. Justice Department said it will not pursue criminal charges against Goldman Sachs Group Inc or its employees related to accusations that the firm bet against the same subprime mortgage securities it was ...
Stabroek News

Council leaders deny financial crisis is getting worse ...
By John Robertson
The leaders of Shetland Islands Council have dismissed claims that overspending by the local authority is getting worse despite the massive ongoing efforts to slash costs. Political leader Gary Robinson and convener Malcolm Bell rejected ...
ShetlandTimes.co.uk

Expert: euro crisis to reach Norway | IceNews - Daily News
By Malcolm
Expert says that Norway isn't immune to the euro crisis. Steven Desmyter ... A top financial expert has said that Norway will not remain immune to the euro crisis. ... Norway experienced a banking crisis, debt crisis and high unemployment then.
IceNews - Daily News

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