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Tuesday, August 14, 2012

Greek economy plunges as country faces vital bond auction

Debt crisis: as it happened - August 13, 2012 - Telegraph: "Angela Merkel returned from holiday to find that Greece's economy shrank 6.2pc in the second quarter of the year as the German economy minister said he was disappointed with Greece's efforts to implement necessary reforms."

Euro-zone Debt Crisis Weighs on Germany Economy
Fox Business
The German economy likely escaped contraction in the second quarter, but hopes that Germany could be spared the effects of the sovereign debt crisis and keep the euro zone out of recession have probably been dashed, analysts say. Germany's preliminary ...

Time to stop the EU navel-gazing - Telegraph: "Whilst the Coalition continues to maintain that its policies are sustaining the economy, but our GDP tumbles, this is the time to examine this inherent contradiction between claims and performance." 

Debt crisis: Greek economy plunges as country faces vital bond auction - Telegraph: "Greece plunged deeper into recession official figures showed raising tension over the €3.1bn (£2.4) Athens needs to raise on the bondmarkets today to avoid defaulting on debt due on Monday."

Is That It for Financial Crisis Cases?
New York Times
Last week turned out to be a good one for Goldman Sachs. The Justice Department closed a criminal investigation of the firm and its chief executive, Lloyd C. Blankfein, and the firm disclosed that the Securities and Exchange Commission had decided not...

New York Times

Going after Wall Street - and watching the clock
NEW YORK (CNNMoney) -- If prosecutors want to go after Wall Street for its role in the financial crisis, they better watch the clock: The statute of limitations for many federal offenses is just about up. For securities fraud and most other federal ...

Debt crisis: as it happened - August 13, 2012
Greek banks lost wholesale market access in the wake of the country's debt crisis, becoming dependant on the European Central Bank and the national central bank for liquidity. This is what Marc Ostwald of Monument Securities thought of those figures:...


Europe's Core Begins to Look Like the Periphery
... 13 Aug 2012 | 9:50 AM ET. Text Size. By: Catherine Boyle Staff Writer, CNBC.com. For most of the euro zone debt crisis, the distinction between the core and peripheral countries of the euro zone have been quite clear — the periphery seemed to ...


FOREX-Euro firmer on hopes of ECB steps to tackle debt crisis
SINGAPORE, Aug 13 (Reuters) - The euro nudged higher against the dollar on Monday, helped by hopes that the European Central Bank will soon take action to ease the euro zone's sovereign debt crisis. After hitting a one-month high a week ago, the euro ...

Norway Retail Sales Declined in June as Euro Crisis Weighs
By Josiane Kremer - 2012-08-13T08:59:29Z. Norwegian retail sales fell more than estimated in June as consumers reined in spending amid concern that a worsening European debt crisis would slow a recovery in the world's third-richest nation per capita.

King Says European Debt Crisis Has 'No Obvious End in Sight'
San Francisco Chronicle
13 (Bloomberg) -- Bank of England Governor Mervyn King said the U.K. must press on with reforms to the banking industry and repeated his gloomy outlook for the euro-area debt crisis, which is impeding Britain's economy. “If the rest of the world were ...

Poland Watches Warily As Euro Crisis Spreads
Wancer thinks Poland can withstand some shock if the euro crisis deepens and spreads, but he quickly adds a caveat: "Nobody knows to what point we can hold out. There is no country that is that strong enough to resist a tremendous attack if it comes ...

Poland Watches Warily As Euro Crisis Spreads | KOSU Radio
By KOSU News
Poland Watches Warily As Euro Crisis Spreads. Filed by KOSU News in World News. August 13, 2012. One factor that has kept Poland somewhat insulated from the eurozone crisis is domestic consumer spending. Poland had more than 4 ...
KOSU Radio

The Financial Crisis | Visual.ly
By mymarysaints
Financial crisis, five years on: animation Five years on from the start of the credit crunch, Phillip Inman explains how it happened - and how it co.

Financial Crisis: Minimal reform or radical overhaul
By Hadi Khatib
A debate: “Enduring Lessons from the Financial Crisis- Minimal Reform or Radical Change” was held March 27, 2012 in London. David Smith, Economics Editor of the Sunday Times and Jamal Harwood, lecturer in Islamic finance and Exec ...
Business Islamica

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