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

Tuesday, September 11, 2012

ECB's Draghi Plan doused by rebellions in Germany and Greece

Debt crisis: ECB's Draghi Plan doused by rebellions in Germany and Greece
The German Chancellor's spokesman insisted that the ECB's plan to buy unlimited sovereign bonds from countries being supported by the bail-out funds - dubbed the Draghi Plan - should not impact the court ruling. However, the court said it would ...


Debt crisis: as it happened - September 10, 2012
Debt crisis: as it happened - September 10, 2012 ... Reuters reports: "Because theECB holds bonds it bought under the SMP to maturity, it will continue to publish the programme's size every week and take the equivalent amount as weekly deposits from...


Spanish PM Mariano Rajoy refuses to accept bailout that dictates cuts - Telegraph: "Spain's Prime Minister Mariano Rajoy has said he would not accept an economic rescue that dictates spending cuts or touches old-age pensions."

Policymakers neglecting euro zone impact on E.Europe-EBRD
LONDON, Sept 10 (Reuters) - Global policymakers have not paid enough attention to the adverse effects of the euro zone debt crisis on southern and eastern Europe, the European Bank for Reconstruction and Development's president said on Monday. ... to ...

Debt Crisis: Stocks slip and euro dips as investors cash in gains
Irish Independent
Since ECB President Mario Draghi first mooted the ECB's new crisis plan on July 26, world stock markets have rallied more than 8 percent, euro zone blue chips have jumped almost 20 percent and the euro has risen more than 4 percent. Analysts are ...

Irish Independent

Bond Managers Dip Into Riskier Debt On ECB Bond-Buying Plan
Wall Street Journal
6 that the central bank would initiate unlimited bond purchases to help the most troubled countries in the euro currency bloc if they requested aid. It was the bank's most aggressive move yet to tackle the region's debt crisis. Draghi's pledge buoyed ...

European debt crisis: a dangerous week ahead
Christian Science Monitor
Germany's constitutional court rules then on the legality of the euro zone's permanentfinancial rescue fund, the European Commission unveils detailed plans for a euro zone banking union, and the Netherlands holds a cliff hanger general election. Then ...

Christian Science Monitor

EURO GOVT-Spanish yields hit 5-month low in ECB afterglow
Shorter-dated Spanish yields , which have fallen the most over the past two months in anticipation ofECB action to tackle the debt crisis, were largely steady while Italian equivalents rose slightly. Investors were reluctant to drive yields much lower ...

Spain's Prime Minister Walks Political Minefield
New York Times
But he has financial reasons, and even bigger political ones, for proceeding with caution. To begin with, since the onset of the euro debt crisis the E.C.B. has already purchased more than €200 billion, or $255 billion, of the bonds of vulnerable ...

Voldemort and Godzilla fail to dampen Brussels spirits
This is not the first time the ECB has taken extraordinary measures to tackle the crisis. In a process started last December and repeated last February, it issued one trillion euros of short-term, low-interest loans. Yet that only managed to stall the ...

GLOBAL MARKETS-Asian shares inch up, euro zone and Fed QE3 eyed
TOKYO, Sept 10 (Reuters) - Asian shares crept up on Monday with soft Chinese data overshadowed by expectations for fresh stimulus from the Federal Reserve and for Europe to make progress in tackling its debt crisis. MSCI's broadest index of ...

Another euro zone week to reckon with | MacroScope
By Mike Peacock
Despite Mario Draghi's game changer, or potential game changer, the coming week's events still have the power to shape the path of the euro zone debt crisis in a quite decisive way, regardless of the European Central Bank's offer to buy as ... The nuclear event would be the German constitutional court ruling on Wednesday that the bloc's new ESM rescue fund should not come into being, which would leave the ECB's plans in tatters since its intervention requires a country to seek ...

Euro Zone debt crisis - Kitco Forums
The ECB is now buying the worthless bonds of these countries. Eventually these ECB bonds are going to be paid off via money printing. They think they can fool ...

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