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

Tuesday, October 16, 2012

French business erupts in fury against "disastrous" Hollande

French business erupts in fury against "disastrous" Hollande - Telegraph: "France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned. MEDEF, France’s equivalent of the CBI, said the threat has risen from “a storm warning to a hurricane warning”, adding that the Socialist government of Fran├žois Hollande has yet to understand the “extreme gravity” of the crisis. The immediate bone of contention is Article 6 of the new tax law, which raises the top rate of capital gains tax from 34.5pc to 62.2pc. This compares with 21pc in Spain, 26.4pc in Germany and 28pc in Britain . . ."

George Soros: Germany must act to solve 'nightmare' euro crisis - Telegraph: "There is a real danger that the "nightmare" euro crisis could destroy the European Union and Germany should either step up to fix it or step out of the currency union altogether, fund manager George Soros said on Monday."

Debt crisis: as it happened - October 15, 2012 - Telegraph: "Spain will reportedly ask for an EU bail-out next month, alongside a revised loan programme for Greece and a Cyprus rescue that will form part of one big package to shore up the eurozone's weaker nations."

Schaeuble: Solving Debt Crisis to Take Time But We Will Deliver
Wall Street Journal
UPDATE: Schaeuble: Solving Debt Crisis to Take Time But We Will Deliver. Article. Email; Printer Friendly; Share: ... BANGKOK--German Finance Minister Wolfgang Schaeuble said Monday that theeuro zone's problems will take time to resolve, but that the ...

Bond Traders Thrust Into Spotlight As Government Debt Balloons In Euro Crisis
Huffington Post
LONDON, Oct 14 (Reuters) - Three years of crisis in the euro zone have thrust the once-sleepy government debt market into the public spotlight and transformed the way bonds are viewed, valued and traded. Huge debts run up by ... While trading in ...

Euro Here to Stay
New York Times
The shift in perceptions about the euro zone is more noticeable in the financial markets than on the streets, where the effects of the sovereign debt crisis will continue to cause damage for years to come. Public spending cuts and recession are tearing ...

ECB's Knot says getting euro debt back in line may take decades
In the text of a speech prepared for a meeting in Hong Kong, Knot also played the hard-line card, saying euro zone states' rising debt levels, trade deficits and falling competitiveness had all contributed to the crisis, and EU thresholds on those and ...

Spain aid package would weigh heavily: Italy Finance Minister
Doing so would calm financial markets, Italian Prime Minister Mario Monti said on Friday. Spain is the main focus of investor concerns over the euro zone debt crisis but Italy, with a huge public debtand the European Union's slowest average economic ...

Asia, Europe see risks and opportunity in debt crisis
Hong Kong Standard
Finance officials from Asia and Europe expressed fears of further turmoil in world markets but said the euro zone was set for a gradual recovery from the debt crisis. The talks in Bangkok follow signs that Asia is increasingly feeling the strain from ...

Panama leader tells Germany he wants to adopt euro
Martinelli provided no details about the switch but he expressed "full confidence" in the German and European economies and said he expected the euro zone debt crisis would soon pass. Seventeen of the European Union's 27 member states are in the euro ...

Proposed Euro-Zone Overhauls Endanger Broader Union
Wall Street Journal
It sketches out how the euro zone can protect itself against dangerous banking and debt crises, improve its collective economic strength and legitimize the necessary transfers of power to Brussels through more democracy. This week's summit isn't ...

Euro zone stuck in limbo between peace and war
One sign of a reduction in stress in Europe, highlighted by key euro officials in Tokyo, has been a fall in the Bundesbank's claims on the ECB under the Target-2 interbank payments system. However, the 7.5% fall in September to just under 700 billion ...

ECB' s Draghi urges euro zone to keep up reforms - Chicago Tribune
The ECB has taken some of the heat out of the euro zone debt crisis by last month unveiling its new bond-purchase program - dubbed "Outright Monetary ...

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