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

Monday, September 17, 2012

Europe at loggerheads over banking union

Europe at loggerheads over banking union - Telegraph: "European finance ministers clashed over plans for a banking union on Saturday, with Germany leading criticism of proposals to introduce a single banking supervisor by January."

Spain must seek help before ECB buys bonds: Nowotny
Reuters
Nowotny told Austria's Profil weekly that it was up to individual countries to ensure the ECB's bond-buying plan helps to overcome the euro zone's sovereign debt crisis. "This can be an effective instrument to contain the crisis and stabilize expectations.

Spain shuns further cuts as unrest grows - Telegraph: "Spain is digging in its heels against further austerity as protests sweep the country and mounting tensions with Catalan nationalists threaten to split the country."

Clearing up misconceptions about the FDIC
Chicago Tribune
She talked about the upcoming presidential election, the Euro Zone debt crisis and China slowing down. She said something to the effect that it doesn't matter who wins the election because neither party has the political will to do anything about the ...

IIF Banks Group: Requiring Bailout Conditions May Prevent ECB Bond Program
Fox Business
Markets are concerned that the countries' mountainous debt, weak growth prospects and financialvulnerabilities risk collapsing their economies. But northern euro-zone members, particularly powerhouse Germany, are concerned that more help from the EU ...

No Easy Answers on How to Fix Europe's Banks
New York Times
And many economists and analysts say that it is only a matter of time before Spain's debt-plagued central government itself may need a helping hand. It was on the banking front where the euro zone's discord was most evident over the weekend. The ...

Parthasarathi Shome Solving the euro zones problems
Business Standard
Thus, first, pegging to the dollar at 1:1 and, second, expecting the dollar to further depreciate against other hard currencies, could certainly promote the euro zone's exports. However, history reveals that pegging to the dollar has led to woe in ...

Business Standard

CSU party says German contribution puts cap on ECB bond buying
Interactive Investor
The ECB announced its new and potentially unlimited bond-buying programme on September 6 to lower the borrowing costs of embattled euro zone countries and draw a line under the euro zone debt crisis. Germany's parliament has approved a maximum ...

France, Germany at odds over pace of EU bank reform
Reuters
NICOSIA, Sept 15 (Reuters) - German reticence over how fast to centralise banking supervision in Europe stoked tensions with France on Saturday, which urged prompt implementation of a plan designed to tackle the financial crisis and help underpin the ...

Lessons from Euro Zone Debt Crisis
Nation on Sunday
... from Euro Zone Debt Crisis. People have been following the great debate on theEuro Zone crisis, its causes and discussing what would be the solution. The Euro as a single currency for the members of the European Union was a reasonably sensible ...

Nation on Sunday

The euro crisis
The Economist
It may be less elegant than Alexander Hamilton's plan for assuming the states' debtsin America in 1789, but some think the ingredients of a solution to the euro-zone debt crisis are now in place. This newspaper would be delighted if that turned out to ...

The Economist

Cyprus sun lightens sombre mood of Europe's ministers
Reuters
Days after a favourable German court ruling, surprisingly smooth Dutch elections and the unveiling of an unprecedented bond-buying plan, Europe's financial leaders meeting in Cyprus might even have taken off their jackets. But whatever relief they felt ...

Talks with ECB over Anglo debts intensify
Irish Times
EURO ZONE CRISIS: THE GOVERNMENT is intensifying its dialogue with the European Central Bank in the hope of an agreement to restructure the debts of Anglo Irish Bank. As a senior ECB official said negotiators were under time pressure in the talks, ...

Irish Times

Illegal Immigration Emerges As New Crisis for Greece—And EU
Wall Street Journal
Greece, of course, is well-known for its role in the euro-zone crisis, with a massivedebt load and sclerotic economy that threatens the single currency. But from Brussels to Oslo, government leaders are fretting about another issue that imperils the ...

Wall Street Journal

Spain pledges reform timetable, paves way for bailout
Reuters
NICOSIA (Reuters) - Spain told euro zone finance ministers on Friday it will set clear deadlines for structural reforms by the end of the month, in a move European diplomats said would pave the way for an aid request before long to help it tackle its ...

Sweden to cut business tax to boost economy
Business Recorder (blog)
Sweden will cut corporate tax rates sharply next year, its government said on Thursday, joining the country's central bank in trying to boost an economy increasingly feeling the effects of the euro zone debt crisis. Announced ahead of a September 20 ...

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