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

Tuesday, September 18, 2012

Spanish borrowing costs climb back above 6pc

Debt crisis: as it happened, September 17, 2012 - Telegraph: "Spanish borrowing costs climb back above 6pc on worries it could be a "spanner in the works" for the ECB’s latest attempt to stabilise the crisis, as German Chancellor Angela Merkel says her "heart bleeds" for Greeks facing hardship in the eurozone."

Brussels at pains to sustain crisis-fighting momentum
Reuters
BRUSSELS (Reuters) - It has been 11 days since the European Central Bank announced it was prepared to buy the debt of struggling euro zone countries in unlimited amounts to help bring down their borrowing costs. In that time, the euro ... A degree of ...

Debt crisis: politicians drive bank union but markets focus on Spain - Telegraph: "Spanish borrowing costs rose above 6pc again as a continued stand-off between Madrid and Brussels fuelled fears that the European Central Bank’s bond buying programme pledge is not enough to stabilise the eurozone."

China says EU crisis dims outlook for bilateral trade
Chicago Tribune
BEIJING (Reuters) - China is concerned the debt crisis in Europe, its largest trading partner, will hurt the outlook for bilateral trade for the rest of 2012, senior officials said on Monday while urging more structural reform in the euro zone. Beijing ...

Analysis: Euro crisis tests limits of "French exception"
Chicago Tribune
But the French economic exception faces a reality check almost three years into the euro zone'ssovereign debt crisis. France's enduring ability to defy economic gravity - adding new taxes on top of one of the highest fiscal burdens in Europe ...

Stocks slip, euro holds up, oil falls
Reuters
"There is still good upside potential for stocks as we are re-pricing the 'non-break-up' of the euro zone. We've just started to realize all the downside that came from the debt crisis," said Louis Capital Markets trader Jerome Troin-Lajous. "Now, the ...

Euro zone trade surplus grows in July
Reuters
The weakness of imports points to falling domestic demand as the euro zone sinks deeper into the economic slowdown brought on by the sovereign debt crisis. Adjusted for seasonal factors, the trade surplus was only 7.9 billion euros, down from 9.3 ...

IMF challenged by lending to euro zone countries
Reuters
The IMF said extensive reforms and large loans to the euro zone were necessary because of the systemic risks in the region, such as the spreading of the euro debt crisis to more countries. However, the IMF needs to develop better tools to assess this ...

German faith in euro and EU lags behind French: poll
Chicago Tribune
Despite the continued resilience of their economy during the euro debt crisis, Germans are increasingly upset about having to bail out weaker euro zone member states such as Greece and fear that the crisis may erode their savings. In contrast to ...

Draghi Euro Humbles Thought Leaders Seeing End of Union
Bloomberg
While former ECB President Jean-Claude Trichet kept the central bank from propping up debt-laden governments by limiting purchases of their securities as the almost three-year crisis deepened, Draghi has done the opposite since he took over in November ...

Merkel says politicians must not interfere on ECB bond buying
Reuters
BERLIN (Reuters) - German Chancellor Angela Merkel said politicians had no business deciding how much debt the European Central Bank should buy on the secondary market as part of its plans to tackle the euro zone crisis. "It is not for us (politicians ...

U.S. Stocks Slip Amid Euro-Zone Worries
NASDAQ
NEW YORK--U.S. stocks looked to snap a four-session streak of gains as investors weighed a disappointing survey of New York manufacturers and the euro zone's fight to address its debtproblems. The Dow Jones Industrial Average declined 32 points, ...

Euro Zone Epicenter of 'Worst Crisis Since WWII': Trichet - CNBC
The euro zone's debt crisis is just the center of an “adjustment” which is affecting all advanced economies, former European Central Bank (ECB) President ...
www.cnbc.com/.../Euro_Zone_Epicenter_of_Worst_Crisis_Si...

Euro zone steers debt crisis obstacles | Video | Reuters.com
Sept. 13 - The Dutch election ended favourably for the euro zone chiefs who needed to keep their pro-Europe allies but the Greek austerity plan is yet to be ...
www.reuters.com/.../euro-zone-steers-debt-crisis-obstacles?...

Euro zone ready to give Greece time - The Globe and Mail
Video: Euro zone steers debt crisis obstacles. Disabled Greeks march during a rally against new austerity measures in central Athens September 12, 2012 ...
www.theglobeandmail.com/report-on.../article4544520/

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