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Thursday, August 2, 2012

IMF chief Lagarde: Eurocrisis, US fiscal cliff require 'crisis management mode'

IMF chief Lagarde: Euro crisis, US fiscal cliff require 'crisis management mode'
Washington Post
International Monetary Fund chief Christine Lagarde warned on Wednesday that policymakers on both sides of the Atlantic “should continue to be in crisis management mode” to deal with both the euro zone debt crisis and the looming U.S. fiscal cliff.

Debt crisis: What could the ECB do to save the euro? - Telegraph: "The attention of world markets will be firmly fixed on the European Central Bank on Thursday, as it announces its monthly policy decision." 

Pressure on Spain to bow to bail-out - Telegraph: "Italy’s leader Mario Monti is to make a last-ditch effort tomorrow to persuade Spain to swallow its pride and accept a formal rescue, hoping to clear the way for double-barrelled action by bail-out funds and the European Central Bank."

US raises pressure for euro zone crisis action
FRANKFURT/BERLIN (Reuters) - The United States raised pressure on euro zone leaders to take decisive action to solve the region's debt crisis, notably by lowering troubled members' borrowing costs, on the eve of a crucial European Central Bank meeting.

US manufacturing grew at slowest pace in three years
The US manufacturing sector grew at its slowest pace in nearly three years in July as the eurozone debt crisis and economic and political uncertainty at home dented demand.

Eurozone manufacturing shrinks for 11th month
Eurozone manufacturing activity contracted for the 11th month in a row as the downturn in the currency bloc dragged down star performer Germany

Could Euro-Zone Central Banks Buy Private-Sector Assets?
Wall Street Journal
Some economists see another possibility: purchases of bank debt and other private-sector securities by national central banks that make up the euro zone. “We forecast the announcement of measures to permit [national central banks] to purchase ...

Lagarde says IMF stands by Greece, urges euro zone action
WASHINGTON (Reuters) - The head of the International Monetary Fund on Wednesday vowed the global lender will stand by troubled Greece and said uncertainty over the future of the euro zone was clouding the outlook for the embattled Spanish economy.

Euro-Zone Manufacturing Decline Steepens
Wall Street Journal
Euro-zone factory activity fell at its steepest rate in more than three years in July, and export orders plunged despite a weakening euro, suggesting the economy will struggle to recover from its downturn any time soon. German manufacturers suffered the ...

Wall Street Journal

Italy PM sees euro rescue fund gaining bank license
HELSINKI (Reuters) - The euro zone's ESM rescue fund will eventually be granted a banking license to help head off the bloc's debt crisis, Italian Prime Minister Mario Monti said on Wednesday. German officials have strongly played down the idea that the ...

Fed's moves to aid economy since financial crisis
WASHINGTON (AP) — The Federal Reserve has taken many unprecedented steps during the past 3 ½ years to try to boost the U.S. economy and counter the effects of a financial crisis that triggered a painful recession. It has kept the short-term interest rate it ...

Euro Zone Manufacturing Weakness Increases
Wall Street Journal
Activity at euro-zone factories fell at a faster pace in July, suggesting the economy made a poor start to the third quarter and a recovery is distant. Markit Economics said Wednesday its monthly index of manufacturing activity in the 17-nation euro zone fell to ...

Eurozone Manufacturing Slump Deepends, China Stalls
Fox Business
Markit's Eurozone Purchasing Managers' Index (PMI) for the manufacturing sector fell to 44.0, well below the 50 level that divides growth from contraction. The reading was the lowest since June 2009, below the flash reading of 44.1 and June's 45.1.

Early Warning: Eurozone Unemployment
By Stuart Staniford
The numbers came out yesterday and are as above - a slight stall, but no real evidence of a reversal. Also, every one of the PIIGS countries saw their unemployment rate get worse in the latest month. So there is still no sign of stabilization in ...
Early Warning

NewsDaily: U.S. raises pressure for euro zone crisis action
By Paul Carrel and Terhi Kinnunen
The United States raised pressure on euro zone leaders to take decisive action to solve the region's debt crisis, notably by lowering troubled members' borrowing costs, on the eve of a crucial European Central Bank meeting.
NewsDaily: Top Headlines

Bankers responsible for eurozone debt crisis - Max Keiser
By maxkeiser
Several eurozone member-states, including Greece and Spain, have been struggling with deep economic woes since the bloc's financial crisis began roughly five years ago. Share this page via Facebook · Share this page via Twitter ...
Max Keiser

Euro Crisis: The Colosseum Is Tilting | Care2 Causes
By Kristina Chew
The 2000-year-yold Colosseum is tilting on its south side about 40 centimeters lower than its northern side and may need urgent repairs. It's almost too fitting a symbol of the euro zonecrisis.
Care2 Causes
Chicago's Slow Burning Financial Crisis | The Windy City YR
By The Windy City YR of Belmont Terrace
By The Windy City YR of Belmont Terrace, today at 1:54 pm. Give Mayor Emanuel some credit. He did more in one year to improve Chicago's city budget position than former mayor Richard Daley did in the previous decade and a half.
The Windy City YR Recent Posts

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