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

Saturday, October 20, 2012

Merkel blocks eurozone support efforts

Debt crisis: Merkel blocks eurozone support efforts - Telegraph: "Angela Merkel reasserted German control over European strategy by insisting that the bail-out machinery would not pay for the past banking debts while also dismissing French plans to spread wealth."

Merkel wins major victory over Hollande - Telegraph: "Angela Merkel has won a major victory over Francois Hollande by overturning a European Union decision to use the euro's bailout fund to directly recapitalise struggling eurozone banks for the foreseeable future."

Debt crisis: as it happened - October 19, 2012 - Telegraph: "EU leaders in Brussels have agreed to have the legal framework for the eurozone banking regulator in place by the end of the year, and it will be implemented through the course of 2013."

Investor fears of euro-zone catastrophe fading
FRANKFURT (MarketWatch) — Despite nearly three years of dithering, infighting and backtracking by European leaders, some strategists now say the euro-zone debt crisis no longer poses the immediate danger that has kept investors on the lookout for the ...


Copper pressured by weak euro, Chinese demand uncertainty
LONDON (Reuters) - Copper slipped on Friday, hurt by a weak euro on concerns about the euro zone debt crisis and uncertainty about the outlook for demand from top user China. Three-month copper on the London Metal Exchange (LME) closed at $8,015 a ...

UPDATE 7-Europe pushes ahead towards ECB bank supervision
Creating an effective banking union, for which this deal was a first step, is regarded by the International Monetary Fund and market economists as a key component in overcoming the euro zone's three-year-old debt crisis. Hollande said the leaders did ...

The worst is over for the euro zone? Shh! Stop saying that!
Reuters Blogs (blog)
And in the 21st century there is the euro zone debt crisis, conjured repeatedly by the phrase from Europe's leaders, “The worst is over,” and variations thereof. French President Francois Hollande was the latest to tempt the crisis apparition on ...

Reuters Blogs (blog)

Euro leaders might soon release second cache of Greece funds
Economic Times
BERLIN: The euro zone leaders have commended the progress made by Greece in implementing far-reaching reforms to overcome its three-year-old debt crisis and hinted at the possibility of releasing 31.5 billion euros (USD 41 billion) bailout funds ...

A Golden Solution for Europe's Sovereign-Debt Crisis
Wall Street Journal
A Golden Solution for Europe's Sovereign-Debt Crisis ... Here's an idea that almost certainly wasn't discussed at Thursday night's European summit: using countries' gold reserves to lower the borrowing costs of euro-zone governments. Central banks of ...

Euro zone mulls splitting cost of bank aid with states
BRUSSELS (Reuters) - Euro zone officials are exploring ways to solve one of the thorniest issues they face: how to ensure distressed banking assets are dealt with at a national level while also breaking the link between indebted governments and their ...

GLOBAL MARKETS-GE focus for Wall Street, Spanish, Italian bond yields fall
"There is more of a general understanding that the ECB backstop is actually effective," UniCredit chief euro zone economist Marco Valli said of the central bank pledge to buy sovereign bonds on the secondary market. "The market has brought ... Global ...

Bloomberg View: A Solvency Test for the Euro Zone's Ailing Economies
... deepen the recessions in the euro zone's most vulnerable countries. Three years after the first rumblings of sovereign-debt troubles in the euro area, its leaders are beginning to get a grip on what has become a defining crisis for the entire ...

Euro zone debt crisis could happen in Canada: report - BNN News
The current debt crisis wreaking havoc in the euro zone could one day repeat itself in Canada, according to a new study. Finances in a number of provinces will ...

Euro zone crisis weighs on Mideast investment: IMF - Business ...
TOKYO (Reuters) - Uncertainty over the euro zone debt crisis is now showing signs of restraining business and household spending in the Middle East, a top ...

EU's Rehn: Latvia could join euro zone in 2014 - chicagotribune.com
Despite the sovereign debt crisis that has spread through the euro zone's weaker economies over the past 3 years, Latvia sees the euro as a more stable ...

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