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

Thursday, October 4, 2012

Global recovery will take at least 6 more years

IMF: Global recovery 'will take at least six more years’ - Telegraph: "The global economy will not be back in “decent shape” until at least 2018, the International Monetary Fund’s chief economist has warned."

Debt crisis: Portugal to raise taxes to meet austerity targets - Telegraph: "Portugal has announced a raft of new cuts designed to reduce the country's debt load, as finance minister Vitor Gaspar unveiled sweeping changes that will see the average income tax rate rise by 2pc."

Spain fears harsh rescue terms from AAA Nordic parliaments - Telegraph: "Senior officials from Germany and other parts of the eurozone's AAA core have warned Spain privately that angry parliaments are likely to impose stringent conditions on any further rescue loans."

How ECB Chief Outflanked German Foe in Fight for Euro
Wall Street Journal
The ECB's shift to create money to purchase struggling countries' debt without limit was dependent on Mario Draghi's cultivations of links with German political leaders to outmaneuver Bundesbank President Jens Weidmann says WSJ's Brian Blackstone ...

Wall Street Journal

Europe debt crisis a 'clear and present danger', says Canada
Economic Times
An outspoken critic of euro zone leaders for not acting quicker to contain the debt crisis, Flaherty stepped up the pressure again just days ahead of a meeting of finance ministers from the Group of Seven major developed economies on Oct 11. "The ...

Italian tax collectors accused of pocketing millions for parties - Telegraph: "The head of an Italian tax collection agency and four of his employees have been accused of stealing 100 million euros (£63 million) of taxpayers' money."

NYMEX-Crude slips as economic worries, euro zone crisis weigh
SINGAPORE Oct 3 (Reuters) - U.S. crude slipped below $92 a barrel on Wednesday, pressured by worries of slowing economic growth in the main consumer nations, while the festering euro zone debt crisis added to uncertainty. FUNDAMENTALS. * NYMEX ...

Euro zone drivers economize, hitting retail sales
Households in the euro zone have been struggling since the global financial crisis of 2008/2009, constrained by disposable incomes that grew only during the brief recovery of 2010. That weakness has fed back into the downturn, and the bloc's output is ...

FOREX-Euro steady as expectations of Spanish aid deal persist
LONDON, Oct 3 (Reuters) - The euro steadied against the dollar on Wednesday and was underpinned by the belief that Spain will eventually request financial aid, helping soothe concerns around the biggest hotspot in the euro zone's debt crisis. Such a ...

EU bank watchdog sticks to capital target
LONDON (Reuters) - The European Union's banking watchdog is sticking to a capital target for banks to help shield them from the euro zone debt crisis, saying lenders that fall short won't be able to pay dividends or big bonuses. Dousing banks ...

Global shares, oil slide on growth concerns, Spanish uncertainty
Fox Business
... its mounting debt problem. The latest data from surveys of purchasing manager's activity across the euro zone and for China's services sector showed that growth has yet to stop sliding despite the best efforts of central banks to stimulate their ...

Japan praises Europe reforms ahead of G7, IMF, urges sustained efforts
TOKYO (Reuters) - The euro zone has made much progress in battling its three-year old debt crisiswith the tough reforms taken by hardest-hit countries particularly encouraging and it needs to keep up the momentum, Japan's top financial diplomat said ...

Unemployment Rate 2012: Euro Zone Unemployment Hits Record High
Economists note that the very spending cuts that are intended to ease the financial crisis by lowering public debt are what's pushing unemployment higher and threatening the continent with recession. Some experts urge leaders to instead loosen spending ...


Onus on Euro-zone States to Solve Crisis, Says Buba's Dombret ...
The solution to the nearly three-year-old euro-zone debt crisis lies first and foremost in the hands ofeuro-zone governments, Deutsche Bundesbank's Andreas ...

Euro Crisis - Google News

Fiscal Cliff - Google News

Economics, interest rates, house prices, inflation, Bank of England

Markets News - Global Financial Market News

Financial Crisis

Jeremy Warner - Finance and business comments

Ambrose Evans-Pritchard - Finance and business comments

Jeff Randall - Business and politics comments

New Normal News

Views under the Palm