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

Monday, September 10, 2012

IMF chief Largarde highlights perils of US fiscal cliff

IMF chief Largarde highlights perils of US fiscal cliff - Telegraph: "Christine Lagarde has said the “US fiscal cliff” is one of the greatest threats to the global economy." 

Italy's Mario Monti rejects extra conditions for Draghi aid - Telegraph: "Italy would not accept additional conditions being attached to any support from the ECB's bond-buying programme beyond the economic policy guidelines it has already agreed with its European partners, Prime Minister Mario Monti said."

Markets price in German ESM backing but wary of risk
Reuters
ESM vital to plan to curb euro zone debt crisis. By Francesco Canepa. LONDON, Sept 9 (Reuters) - Financial market prices suggest investors expect Germany's constitutional court to back the neweuro zone bailout fund this week, meaning that any glitch ...

Carthaginian terms for Italy and Spain threaten Draghi bond plan - Telegraph: "The cold douche begins. Markets will now learn that the European Central Bank's bond plan is a devout wish, not a done deal. Europe's political minefield lies ahead."

IMF backs Draghi; says Spain, Italy have done enough
Reuters
VLADIVOSTOK, Russia, Sept 9 (Reuters) - The International Monetary Fund on Sunday strongly backed the European Central Bank's plan to staunch the euro zone debt crisis with unlimited bond purchases, saying it was ready to get involved in designing and ...

EU pushes more moves to stem debt crisis
Reuters
CERNOBBIO, Italy, Sept 8 (Reuters) - European Union officials pushed on Saturday to accelerate moves to stem the bloc's long debt crisis as Italian premier Mario Monti warned that economic suffering was fuelling divisive nationalism on the continent ...

Euro zone enters dangerous week buoyed by ECB
Reuters
German judges, Dutch voters, IMF inspectors and Brussels regulators could all spring surprises that make it harder to resolve a sovereign debt crisis which is almost three years old and weighing on the world economy. Wednesday is the main day to watch ...

Euro falls ahead of European Central Bank meeting
Las Vegas Sun
The euro is falling against the dollar ahead of a key European Central Bank meeting Thursday. Traders are waiting to see if the central bank will offer any details on a plan to help ease Europe'sdebt crisis. ECB President Mario Draghi said in July ...

Euro-zone Debt Crisis, Germany vs Greece, and Spain and...
The Market Oracle
However, ECB President Mario Draghi yesterday spoke to a so-called Outright Monetary Transactions Program which would see the ECB buy 'unlimited quantities' of 1 -3 year government bonds - see reference to this later in this Newsletter;. the ESM plan ...

UPDATE 1-INTERVIEW-Germany should back growth or leave euro-Soros
Chicago Tribune
ECB bond-buying will buy time; Spain, Italy won't apply (Adds links to video, comments ... helping the euro zone's weaker nations escape a spiral of increasing indebtedness and ... of the debt crisisby collectively assuming some of their debt and ...

Hundreds of Germans protest against euro rescue steps
Reuters
The ESM was meant to succeed the existing temporary European Financial Stability Facility (EFSF) from July and erect a 700 billion euro ($896 billion) firewall to prevent the euro zone'ssovereign debt crisis from spreading further. But Karlsruhe threw ...

EU watchdog to be strengthened in banking union: document
Reuters
European Commission President Jose Manuel Barroso on Wednesday will present a blueprint for aeuro zone banking union with the European Central Bank (ECB) as the main supervisor for the currency area's 6,000 banks. It is part of wider EU efforts to ...

NewsDaily: EU pushes more moves to stem debt crisis
By Francesca Landini and Lisa Jucca
European Union officials pushed on Saturday to accelerate moves to stem the bloc's long debt crisisas Italian premier Mario Monti warned that economic suffering was fuelling divisive nationalism on the continent. ... Michel Barnier, the EU commissioner in charge of financial regulation, called in a Reuters interview at the conference for swift joint oversight of all euro zone banks. Euro zone-wide banking supervision should be introduced by next January, despite German reservations, ...
NewsDaily: Top Headlines

Debt crisis threatens the whole euro zone | South China Morning Post
Pigs, of course, can't fly. Nor can the PIGS (Portugal, Ireland, Greece and Spain), the ailingeuro-zone economies, fly away from their problems of heavy debts.

ECB bond-buying plan a debt crisis killer? Not so fast - The Globe ...
ECB bond-buying plan a debt crisis killer? Not so fast. DAVID BERMAN. The Globe and Mail. Last updated Thursday, Sep. 06 2012, 11:57 AM EDT ...

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