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

Friday, October 19, 2012

Merkel moves to block Hollande bank union deadline

EU Summit: Angela Merkel moves to block Hollande bank union deadline - Telegraph: "Angela Merkel refused to commit to Francois Hollande’s deadline for the banking union, frustrating one of the key aims of a summit paralysed by indecision."

Man dies outside Greek parliament during clashes - Telegraph: "A 65-year-old man has died, reportedly of a heart attack, during violent clashes in front of the Greek parliament in Athens."

Euro zone bets lift stocks, Spain yields fall
Reuters
NEW YORK (Reuters) - Global shares were little changed in choppy trading on Thursday with a European benchmark at a 15-month closing high as tension surrounding the euro zone's debt crisiscontinued to ease. But U.S. stocks fell after Google (GOOG ...

Germany's Would-Be Leaders Spar Over EU
Wall Street Journal
Mr. Steinbrück sought to dispel Ms. Merkel's claim that there is no alternative to her policies of austerity to resolve the euro-zone debt crisis. Mr. Steinbrück, a maverick known for his wit and sometimes offensive humor, must first convince German ...

World's oldest bank Monte dei Paschi di Siena cut to 'junk' by Moody's - Telegraph: "The world's oldest bank has been cut to "junk" by Moody's, as the rating agency warned that there was a "material probability" that the lender may need another cash injection from the Italian government."

UPDATE 1-EU's Rehn: Latvia could join euro zone in 2014
Reuters
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 currency than its lat. Public opinion is firmly opposed to euro entry, but the government does not ...

Gold drops on euro uncertainty, commods weakness
Reuters
NEW YORK (Reuters) - Gold fell on Thursday as commodity weakness and uncertainty over the commitment of Germany and France to battle the euro zone debt crisis prompted the bullion market to consolidate gains after its recent rally. The metal declined ...

Spanish Borrowing Costs Ease
Wall Street Journal
Ten-year bond yields rose to euro-era highs near 7.58% late July when Spain's deepening fiscal problems pushed it to the forefront of the euro-zone debt crisis. Spain raised €4.614 billion ($6.05 billion) from the sale of its 4% July 2015, 4.25 ...

EU summit to tackle banking union; Spain on watch
Chicago Tribune
BRUSSELS (Reuters) - European leaders will try to bridge deep differences over plans for a banking union at a summit on Thursday but no substantial decisions are expected, reviving concerns about complacency in tackling the three-year-old debt crisis ...

EU Commission dismisses problems with ECB oversight
Reuters
The remarks came as European leaders meet for a two-day summit where they will try to bridge division over a banking union, including plans for a single banking supervisor, a move to resolve one of core problems fuelling the debt crisis. They will ...

PRECIOUS-Gold steady after China data, euro zone summit eyed
Reuters
... bloc continues to struggle with its debt crisis. Gold has closely followed moves in the currency market, with improving sentiment around the euro zone giving support to the euro and weighing on the dollar, making dollar-priced commodities more ...

Ikea Keeps Billy Cheapest in Euros as Shoppers Retrench
Businessweek
Ikea's Billy bookshelves will remain cheapest to buy in the euro zone next year as the region's debt crisis weakens its currency and hurts consumer spending. Bloomberg's annual global index tracking the dollar cost of the signature bookcase sold by the ...

Fitch May Soon Remove Ireland's Negative Outlook
Wall Street Journal
Other negative factors include fears the euro-zone debt crisis could intensify. "We could observe the cycle repeating: that markets push the policy makers to measures to deal with the crisis. After the new measures, markets relax a bit and policymakers ...

Debt crisis weighing down on euro zone more than on US -> 17.10 ...
“Restoring government budgets will continue to occupy capital markets. Nonetheless, volatility has decreased significantly,” said Fritz Mostböck, Head of ...
www.erstegroup.com/de/Presse/.../2012/.../Global-Strategy-en

Crisis: Euro zone mulls new ways to cut Greek huge debt - Greece ...
(ANSAmed) - ATHENS, OCTOBER 15 - Euro zone officials are considering new ways to reduce Greece's huge debt because delays in reforms by Athens and ...
www.ansa.it/.../Crisis-Euro-zone-mulls-new-ways-cut-Greek-h...

ECB's Legal View on Bank Oversight Design Due Early November
Businessweek
The European Central Bank aims to complete its view on how to design a euro-area bank supervisor in the first half of November, a spokesman said today. ECB lawyers are studying how the Frankfurt-based central bank could take on bank oversight for the ...

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