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

Saturday, October 6, 2012

Greece another Weimar Republic

Greek crisis is 'like the Weimar Republic’ - Telegraph: "Greece is plunging into an economic and social crisis as desperate as Germany under the Weimar Republic, the Greek prime minister, Antonis Samaras, has warned in an emotional appeal for leniency."

Spain tops agenda for euro zone permanent bailout fund
Reuters
BRUSSELS (Reuters) - Euro zone finance ministers will formally launch the euro zone's permanent, 500-billion-euro bailout fund on Monday, bolstering the single currency area's defenses against the sovereign debt crisis that is now threatening Spain.

Gold outperforms London mansions - Knight Frank - Telegraph: "Wealthy Europeans who have pushed up the price of luxury London homes in a bid to shield their wealth from the eurozone crisis could have been better off buying gold, according to estate agent Knight Frank."

EURO DEBT SUPPLY-ECB expectations to buoy Italian auction
Reuters
LONDON Oct 5 (Reuters) - An Italian bond sale next week should find decent demand with the shorter-dated paper eligible for the ECB's bond-buying programme and sentiment towards the euro zone's peripheral issuers improving. ... Italy's debt is also ...

Debt Crisis: Germany's Merkel to visit Greece as money runs out
Irish Independent
That would mean Germany, the biggest contributor to euro zone rescue funds, potentially having to write off billions of euros lent to Athens during the crisis. Merkel faces strong resistance in her own centre-right coalition against giving any further ...

Irish Independent

Weak job picture, uncertainty drove QE3: minutes
MarketWatch
WASHINGTON (MarketWatch) — The sluggish job market and worries about Europe's debt crisis, Chinese growth and the so-called fiscal cliff closer to home pressed the Federal Reserve into launching its third round of large-scale bond buys, according to ...

EURO GOVT-US jobs data hurt Bunds, Spain rallies within ranges
Reuters
... back toward issuing debt. However, ECB President Mario Draghi said on Thursday the central bank will not buy the bonds of already bailed-out countries such as Portugal under its new crisis plan because they do not have full access to bond markets ...

Telefonica easily sells 1.2 billion euro in bonds
Reuters
Spain's Prime Minister Mariano Rajoy has resisted applying for European aid, which would trigger theECB program, but investors' belief that such a move is inevitable has brought down premiums for theeuro zone periphery and its companies. Telefonica ...

Debt crisis: as it happened - October 5, 2012
Telegraph.co.uk
He said that European Central Bank President Mario Draghi has made him more upbeat about a solution to the debt crisis, although he's “depressed” by German politicians. The Princeton University professor added that a failure of the euro would be...

Telegraph.co.uk

Debt-laden companies cashing in on ECB pledge
Reuters
That has changed, firstly with the sovereign debt crisis - which made banks and governments the main sources of lenders' distrust - and now with central banks' moves to head off the euro zone's turmoil and support economies with ultra-low official ...

Retailer Metro lowers 2012 profit expectations
Reuters
DE), the world's fourth-largest retailer, cut its earnings outlook for 2012 on Friday, blaming rising unemployment in the euro zone and the sovereign debt crisis for putting a damper on profits, sending its shares sharply lower. Metro said it now ...

NewsDaily: Spain tops agenda for euro zone permanent bailout fund
By Jan Strupczewski
Euro zone finance ministers will formally launch the euro zone's permanent, 500-billion-euro bailout fund on Monday, bolstering the single currency area's defenses against the sovereign debt crisis that is now threatening Spain.
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