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

Thursday, September 20, 2012

US 'Fiscal Cliff' Tops Euro As Biggest Investor Fear

US 'Fiscal Cliff' Tops Euro As Biggest Investor Fear
Wall Street Journal
Few believe the nearly three-year-old euro crisis is over. Some 80% of investors surveyed by Barclays believe Spain will ask for international assistance by the end of the year. That would enable the ECB to buy the country's bonds, but bind the ...

Euro-Zone Construction Falls
Wall Street Journal
The drop was led by the fiscally most troubled nations of the bloc, including Italy and Spain, which have on and off traded places at center stage of the euro-zone sovereign debt crisis this year with Greece, which has fallen behind in fulfilling the ...

Greece sells off London consulate and royal cemetery - Telegraph: "Greece intends to sell high-end properties in London, Belgrade and Cyprus, including a palace with royal graveyard, as part of a privatisation programme designed to free up cash and appease its bail-out rescuers."

Ex-ECB Member Orphanides: Bond-Buying Plan No Silver Bullet
Wall Street Journal (blog)
The European Central Bank's plan to buy potentially unlimited amounts of government bonds of selected member states is legal but isn't a silver bullet to end the region's debt crisis, said Athanasios Orphanides, a former member of the ECB rate-setting ...

Debt crisis: as it happened, September 19, 2012 - Telegraph: "France seeks to calm concerns of a rift with Germany over plans for a eurozone banking union, though prime minister Jean-Marc Ayrault continues to insist that ECB bank supervision should cover all lenders."

High returns keep Spanish banks hooked on sovereign debt
Reuters
Penned at the front line of the euro zone debt crisis, Madrid is under pressure from investors to request financial assistance and trigger a bond-buying programme by the European Central Bank and the region's rescue funds. The country already sought in ...

IMF bail-out plans face 'serious challenges' due to 'ineffective' EU - Telegraph: "The International Monetary Fund says it faces “serious challenges” in drawing up bail-outs for heavily indebted eurozone countries because of ineffective European Union decision-making and the bloc’s opposition to restructuring debt."

Irish Life awaits euro zone calm to resume sale
Reuters
Irish Life, formerly the life insurance arm of bailed out Irish Life & Permanent (IL&P), was taken over by the state this year after a ramping up of the euro zone debt crisis forced the suspension of its sale last November. "We haven't re-engaged in ...

Analysis: US meltdowns - History lessons for the euro
Reuters
The crash that followed parallels what has happened more recently and may, with other lessons from U.S. history, provide pointers for the euro zone crisis. As the property prices soared, Europe's world was turned upside down. Thanks to grain elevators, ...

FOREX-Yen rises, reversing losses after BoJ's aggressive easing
Reuters
BOJ increases asset purchases more than expected * Spain drives new worries over euro zone debt crisis * U.S. housing data show budding signs of recovery By Julie Haviv NEW YORK, Sept 19 (Reuters) - The yen rose broadly on Wednesday, erasing earlier ...

EURO GOVT-Bank of Japan stimulus weighs on safe-haven Bunds
Reuters
Bunds have fallen steeply since the European Central Bank pledged to carry out unlimited purchases of bonds issued by troubled euro zone states to ease the bloc's debt crisis. However, the condition that a country must first request aid from the region ...

Eastern Europe Remains Vulnerable to Euro Crisis, Capital Says
Businessweek
Eastern Europe remains at risk of an escalation in the euro crisis because of its dependency on external borrowing, a shortage of credit and a high level of non-performing loans, Capital Economics Ltd. said. ... “We fear” that the ECB's so-called ...

German economy to barely grow until 2013-BdB
Reuters
BERLIN, Sept 19 (Reuters) - The German economy will hardly grow until next year and the euro zone will be slow to recover from its sovereign debt crisis, a German private banking body said on Wednesday. Germany had until recently avoided much of the ...

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