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

Wednesday, October 31, 2012

Weakening Euro Zone Economy

Spain sinks deeper into recession in third quarter - Telegraph: "Spain has slipped deeper into recession as the financial crisis and austerity weighs on the embattled country’s economy."

Data Show Weakening in Euro Zone Economy
New York Times
A collapse real estate prices after the 2008 financial crisis and austerity measures to balance the public sector budget have inflicted severe pain on the country, driving unemployment to 25 percent. In Nuremberg, the Federal Labor Agency ... More than ...

French minister urges euro zone to start pooling debt
Reuters
BERLIN (Reuters) - French Finance Minister Pierre Moscovici urged the euro zone on Tuesday to take a first step to mutualise its short-term debt, stopping short of jointly-issued "Eurobonds" which he recognized German Chancellor Angela Merkel's ...

Debt crisis: as it happened - October 30, 2012
Telegraph.co.uk
17.39 PIMCO chief executive Mohamed El-Erian has told Canadian television network BNN that there is a 60pc to 70pc chance Greece will leave the euro. 17.24 Meanwhile... The negative rating outlook "reflects increased uncertainty about Argentina's ...

Telegraph.co.uk

Debt crisis: Greece must have debt relief, leaders to tell Angela Merkel - Telegraph: "A delegation of leaders are to warn Angela Merkel that Germany must agree to Greek debt relief or risk plunging the eurozone into a fresh and more dangerous phase of the crisis."

German joblessness rises as euro zone crisis bites
Reuters
The global slowdown and the euro zone's three-year debt crisis are weighing on companies' readiness to invest and recent surveys have shown business confidence in Europe's powerhouse economy sagging badly, though few economists expect a ...

ECB Covered Bond Program Set To Wind Down
Wall Street Journal
The year-long program was initiated last November at the end of Jean-Claude Trichet's tenure as ECBpresident as a means of boosting funding for cash-strapped banks that were priced out of the bond market because the euro-zone debt crisis had pushed ...

Crisis Takes Toll on French Hospital
Wall Street Journal
LYON, France—The public hospital center in this southeastern French city is selling a century-old castle and its expansive grounds to help ease a funding squeeze, in a sign of how the euro zone's sovereign-debt crisis is also afflicting the bloc's ...
 
Wall Street Journal

Euro zone sentiment eases less than expected in October
Chicago Tribune
BRUSSELS (Reuters) - Euro zone economic sentiment fell less than expected in October, data showed on Tuesday, thanks to small improvements in optimism among consumers and in the retail sector, which helped limit the downward pull from industry, ...

German Unemployment Rose Twice as Much as Forecast in October
Bloomberg
German unemployment rose twice as much as economists forecast in October and the jobless rate increased for the first time in three years as the sovereign debt crisis damped economic growth and investment. The number of people out of work climbed a ...

UBS bankers in London head for the pub after being turned away at office door - Telegraph: "UBS bankers in London were turned away from their offices on Tuesday and handed a letter putting them on "special leave", just hours after the Swiss bank unveiled a radical restructuring to axe 10,000 jobs."

US, Euro-Zone News Set to Generate Volatility Today
Jutia Group
Today, euro traders will want to pay attention to several key news events. First up is a speech fromECB President Draghi, scheduled to take place at 8:00 GMT. Any positive statements from the ECBPresident with regards to the ongoing debt crisis in ...

Britain 'sorely needed' in EU, says German Finance Minister Wolfgang Schaeuble - Telegraph: "German Finance Minister Wolfgang Schaeuble has urged Britain to remain strongly engaged in the European Union, responding to a tide of Euroscepticism that Berlin fears could sweep London towards the exit."

Euro Zone Debt Crisis Leaves Millions in Germany Unemployed ...
By Harkamal Singh
Euro Zone Debt Crisis Leaves Millions in Germany Unemployed. Germany falling a victim into the hands of euro zone crisis has left several in the country without a job for seventh month in a series. Economists believe the situations to change ...
TopNews United States

Ability to Handle Crisis-hit Major Economies Crucial in Combating ...
Mr. Rogoff warned that, although sovereign debt crises had been in existence .... With the euro zone facing liability restructuring, lessons learned implied a focus ...
www.un.org/News/Press/docs//2012/gaef3347.doc.htm

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