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

Friday, August 24, 2012

Eurozone headed for second recession in three years

Euro zone headed for recession, China, US struggle
Reuters
"Another reminder that a chronic lack of economic growth in the euro zone will continue to impede efforts to bring the debt crisis to an end," said Jonathan Loynes, chief European economist at Capital Economics. General Motors' (GM.N) German unit, Opel ...

Debt crisis: eurozone headed for recession as economic rot spreads - Telegraph: "The eurozone looks destined for its second recession in three years, as business surveys showed the economic rot is even spreading to Germany, the region's largest and strongest economy."

Exclusive: Spain in talks with euro zone over sovereign aid
Reuters
Spain is the latest hot spot in the 2-1/2-year euro zone debt crisis after its ailing banking sector, which sought a 100-billion-euro European lifeline in June, and its highly indebted regions unnerved international investors earlier this year. Last ...

Greece debt crisis: 'last chance' to meet bail-out terms says Jean Claude Juncker - Telegraph: "Greece has “one last chance” to meet its bail-out conditions, according to Jean Claude Juncker in comments that crushed hopes for an imminent change of strategy for Athens and the eurozone."

China concerns mount as 'awful' data see manufacturing fall to nine-month low - Telegraph: "China's factory activity in August contracted at its fastest pace in nine months, in a sign that a persistent slowdown in economic growth extended deeper into the third quarter."

Euro zone worries limit gains for European stocks
Reuters
LONDON, Aug 23 (Reuters) - European shares rose on Thursday, helped by gains at Dutch beer company Heineken and expectations of new stimulus measures from central banks, although persistent worries over the euro zone debt crisis limited stocks' rise.

Greek PM Sees 'Nightmare' Scenario if Greece Quits Euro Zone
Wall Street Journal
PARIS--A Greek exit from the euro zone would be devastating for the country, could harm Europe and lead to social problems, Greek Prime Minister Antonis Samaras is quoted as saying in Thursday's edition of Le Monde. Mr. Samaras told the French ...

Fed joins stimulus party as global trade slumps - Telegraph: "All three major blocs of the world economy have shifted gears dramatically over the last month, preparing a fresh blast of stimulus to combat the sharpest contraction in global trade since the 2008-09 crisis." 

The euro-zone wrecking ball
MarketWatch
No politician within the 17-nation euro zone wishes to be judged by history as the person who will be remembered as "The Euro-Zone Wrecking Ball." This is as true for those who hail from the periphery, the soft core and the relatively wealthy nations.

Swiss euro zone exports rise, shielded by franc cap
Reuters
Exports to euro zone up 5.1 pct in July despite crisis. * Overall exports rise 0.8 pct. * Monthly trade surplus is second highest on record. * Asia trade stagnates; exports to China, Japan fall (Adds details, background). By Caroline Copley. ZURICH ...

Diageo: Bracing for worsening euro crisis
MarketWatch
We are ready for whatever may occur in terms of the euro zone, but we are not anticipating one or another specific scenario," said Chief Financial Officer Deirdre Mahlan. "We are working really carefully to manage our debt levels and so we have been ...

REFILE-UPDATE 1-UK's Co-op profits slump amid euro zone uncertainty
Reuters
The UK economy has been shrinking since late 2011, bruised by the euro zone's debt crisis and austerity measures at home to pay down public debt that have sapped domestic demand. Marks said the impact had been most severe in the group's banking ...

Wounded in the financial crisis, Baltic states are regaining strength
NASDAQ
loading. The "Baltic Tiger" label still applies to the three nations that make up the Baltic states. Despite suffering in the global financial crisis, Estonia, Latvia and Lithuania are growing again. [caption id="attachment_71641" align="alignright ...

Politician: gays biggest threat after euro crisis - The Local
A German politician is facing a barrage of criticism after denouncing gay couples as the biggest threat to the country's prosperity after the euro crisis.
The Local - Germany's news in English

August 23: China's PMI, Euro-zone Reconfirms Global Slowdown ...
By Zacks Equity Research
China's PMI, Euro-zone Reconfirms Global Slowdown. ... The negative drag from global economic slowdown, as highlighted by soft manufacturing readings from China and the Euro-zone today, further confirms that course of action. But the ...
Zacks Investment Research - All...

UPDATE 1-Swiss euro zone exports rise, shielded by franc cap - XE
Swiss exports ticked up in July, with sales of goods to the euro zone growing strongly even as Switzerland's top trading partner slips towards recession, thanks in part to the cap the central bank imposed on the soaring franc a year ago.
XE Forex News

No vacation from euro debt crisis in Greece | Marketplace.org
European Debt Crisis. 1. No vacation from euro debt crisis in Greece ... they're going on vacation in order to avoid talking or thinking about the financial crisis.
www.marketplace.org/.../no-vacation-euro-debt-crisis-greece?...

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