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

Friday, November 2, 2012

Euro heading for permanent state of depression

The euro is heading for a permanent state of depression - Telegraph: "But, though the single currency may have been saved from imminent death on the operating table, it seems now to be heading for a scarcely more appetising alternative – a condition of chronic, long-term illness where still very tight monetary conditions in many parts of the eurozone in combination with lockstep austerity threaten to induce a virtually permanent state of depression. Even Germany shows every sign of slipping back into economic contraction."

Greek cuts to pensions and salaries are unconstitutional, court rules - Telegraph: "Cuts in pensions and salaries for state employees that the Greek government has planned to unlock critical bailout funds have been ruled unconstitutional by a court, the semi-official ANA news agency reported."

Debt crisis: Ireland is 'excellent example' of reforms - live
Telegraph.co.uk
16.30 The incoming Dutch finance minister, Labour MP Jeroen Dijsselbloem, said he would push ahead with budget cuts at home and take a tough line on the euro zone crisis today. He will have his work cut out, with the new coalition government between...

Telegraph.co.uk

New Dutch finance minister promise cuts, tough line on euro zone
Reuters
AMSTERDAM (Reuters) - The incoming Dutch finance minister said on Thursday he would push ahead with budget cuts at home and take a tough line on the euro zone crisis, ensuring policy continuity. Labor MP Jeroen Dijsselbloem warned of tough times ...

Merkel Praises Irish Leader for Progress Against Debt
New York Times
BERLIN — If the euro zone were to have a model bailout student in meeting the demands of international lenders, it would be Ireland, whose prime minister, Enda Kenny, has been named the “European of the Year” by a group of German publishers ...

How Europe's short CDS ban could hit the euro
MarketWatch
FRANKFURT (MarketWatch) — The European Union on Thursday implemented new rules that make it more difficult for traders to bet on government defaults, but could end up merely transferring volatility to other venues, including the euro. The ban ...

MarketWatch

Corporate Lending Hits Three-Year Low as Firms Shift to Bonds
Wall Street Journal (blog)
The shift comes as banks continue to shrink their balance sheets to meet stricter capital rules due next year under Basel III guidelines, and as the euro-zone debt crisis prompts investors to switch out of safe but low-yielding government bonds into ...

Richemont and BT boost European stock markets
Reuters
However, other traders remained relatively negative, citing the euro zone's persistent debt crisis. The FTSEurofirst 300 is up nearly 10 percent since late July, when European Central Bank (ECB) chief Mario Draghi pledged fresh measures to protect the ...

German Minister: Expect Economy to Grow 0.8% in 2012 as Euro Zone Crisis ...
NASDAQ
NEW DELHI--Germany's gross domestic product is likely to grow by 0.8% in 2012, weighed down by the continuing debt crisis in the euro zone, Economics Minister Philipp Rosler said Thursday. At the beginning of the year, "we expected 0.7% [growth], so it ...

European Debt Crisis: Meet the Players
Fox Business
To resolve the crisis, 17 disparate countries united under the euro currency must work together to bring national budgets under control and fix the region's overleveraged banking system. There are just a ... Like the Federal Reserve in the U.S., the ...

FACTBOX-Euro zone debt crisis: upcoming events - Yahoo! News ...
'FACTBOX-Euro zone debt crisis: upcoming events' on Yahoo! News Maktoob. Nov 1 (Reuters) - Following are forthcoming eventsrelated to the debt crisis in the ...
en-maktoob.news.yahoo.com/factbox-euro-zone-debt-crisis-u...

Euro Obama: Video Barack Obama: Euro zone debt crisis 'scaring ...
Euro Obama: Video Barack Obama: Euro zone debt crisis 'scaring the world' ♢ Euro Obama: Video Barack Obama: Euro zone debt crisis 'scaring the world'---, ...
www.onenewspage.us/.../Euro-Obama-Video-Barack-Obama-...

Euro zone unemployment reaches record high | South China ...
Euro Zone Crisis. The Eurozone crisis was triggered in 2009 when Greece's debts, left by its previous government, reached a record 300 billion euros, leaving ...
www.scmp.com/.../euro-zone-unemployment-reaches-record-...

Britain shouldn’t jump the gun on leaving the European Union - Telegraph: "Rather than rush for the exit, it would be better to allow the euro crisis to play out"

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