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

Wednesday, October 17, 2012

Euro zone still biggest risk to Germany say economists

ZEW economists: euro zone still biggest risk to Germany
Reuters
MANNHEIM (Reuters) - The euro zone's debt crisis and the possibility that a member state may default remain the biggest risks to the German economy, economists at Germany's ZEW institute said on Tuesday. "(The biggest risk is) still the euro zone ...

Germany shocks EU with fiscal overlord demand - Telegraph: "Germany has stated its exorbitant price for keeping Greece in the euro and agreeing to mass bond purchases by the European Central Bank. There must be an EU “currency commissioner” with sweeping powers to strike down national budgets; a “large step towards fiscal union”; and yet another EU treaty. Finance minister Wolfgang Schaeuble dropped his bombshell in talks with German journalists on a flight from Asia, and apparently had the blessing of Angela Merkel, the chancellor. “When I put forward such proposals, you can take it as a given that the chancellor agrees,” he said. . . "

Germany's Schaeuble advocates leap in euro integration
Chicago Tribune
Such reforms would accelerate the trend towards a two-speed Europe whose inner core would be theeuro zone, spurred towards closer union by its three-year-old sovereign debt crisis. Related; Instant... Such proposals could struggle to win acceptance ...

Moody's holds Spain's low rating unchanged - Telegraph: "Moody's gave Madrid critical breathing room on Tuesday in its efforts to sort out its economic problems, holding the country's debt rating unchanged at Baa3, one step above "junk" grade."

Britain's bid for veto over eurozone banking union is 'illegal' says EU official - Telegraph: "Although Britain is supportive of plans to create a banking union as a means to stabilise the eurozone and its stricken currency, London wants to be able to prevent the bloc uniting to limit the activities of City banks across Europe."

What New Euro Zone Bailout Bond Tells Us
CNBC.com
Staff Writer, CNBC.com. The books for the new euro zone bailout fund bond are expected to open Tuesday, and the demand and pricing for the bond could show plenty about how the market views the euro zone's prospects for success in the tussle with its ...

CNBC.com

GLOBAL MARKETS-Euro, shares rally on Spanish hopes, US earnings
Reuters
Returning confidence in Germany suggested the euro zone debt crisis is not impacting the bloc's largest economy as much as feared, giving stocks and the euro further support. U.S. stocks opened higher, boosted by earnings reports from sector ...

Debt crisis dominates finance talks
MENAFN.COM
(MENAFN - Arab News) Senior finance officials from Asia and Europe met yesterday for talks on the global economy in the face of growing nervousness about the worldwide fallout of the euro zone debt crisis. The meeting in Bangkok comes as Asia's ...

MENAFN.COM

Euro-Zone Exports Rise; Inflation Steady
Wall Street Journal
Eurostat also said that the euro zone's goods exports to the rest of the world exceeded its imports by €6.6 billion ($8.55 billion), a drop from the €14.7 billion surplus recorded in July, but a reversal of the €5.7 billion deficit recorded in August ...

Wall Street Journal

Copper lifted by stronger equities, euro
Reuters
SHANGHAI (Reuters) - Copper prices firmed on Tuesday as equities and the euro gained on better-than-expected corporate earnings from Citigroup Inc (C.N), positive U.S. data and hopes for progress in battling Europe's debt crisis. ... The euro and ...

Asian shares higher after US data, Citi results
Fox Business
TOKYO – Asian shares rose on Tuesday after rallies in U.S. stocks and positive U.S. data cheered investor mood, with hopes for some progress in the euro zone debt crisis also helping to underpin sentiment. The MSCI index of Asia-Pacific shares outside ...

UPDATE 1-Austria sees wider budget gaps than hoped in 2012, 2013
Reuters
Vienna's safe-haven status amid the euro zone debt crisis has also pushed its borrowing costs to record lows, even letting it borrow at negative rates for as long as two years. "We assume that interest rates will stay low and we will save a stack of ...

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