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

Thursday, November 1, 2012

Euro-Zone Unemployment Higher than Ever Before

Euro-Zone Unemployment Higher than Ever Before
Spiegel Online
The European debt crisis and related austerity measures continue to drive up unemployment across the euro zone. In September, according to statistics released... Global financial markets have, for the moment, been calmed. The European Central Bank has ...

Spiegel Online

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."

UPDATE 1-Banks tighten euro loan standards, see more coming -ECB
Reuters
"Compared with the previous quarter, the impact of the sovereign debt crisis on banks' credit standards receded somewhat in the third quarter of 2012," the ECB said. The ECB said that a net 15 percent of the euro zone banks that took part in the survey ...

Stein Says Euro Zone Banks Cut Loans More in US Than in Europe
Businessweek
“Euro zone banks shifted the composition of their dollar and euro lending, cutting their dollar lending by more, despite the fact that European economies were more threatened by the debt crisis,” Stein and coauthors Victoria Ivashina and David ...

In Debt Crisis Live
Telegraph.co.uk
"We are at a time when the euro area capital markets are very fragmented because of the crisis. This should not last long," he said, adding that the ECB will do anything it can in terms of financial infrastructure to unite the region's capital markets.

Telegraph.co.uk

Analysis: Rajoy's bailout shyness adds to Spain's risks
Reuters
Spain has been the main focus of the three-year-old euro zone debt crisis for the last nine months and has already obtained a credit line of up to 100 billion euros for its banks. After jumping higher than 7 percent in July, the yield on Spain's ...

Portuguese Bank Debt Market Reopens
Wall Street Journal
Markets have been all-but closed to all Portuguese issuers since the country requested an international bailout in April 2011 but borrowing costs across the euro zone have collapsed over the past two months since the ECB gave a conditional pledge to ...

ECB's Constancio: Deposit insurance can wait
MarketWatch
FRANKFURT--Creating a European bank deposit insurance scheme is "difficult" amidst theeuro-zone sovereign debt crisis and could wait, the vice president of the European Central Bank said Wednesday. "Deposit insurance is more difficult in the present ...

ECB's Benoit Coeure: Risks to price stability balanced in euro area
Economic Times
... buy government debt could expose the central bank to financial losses. The ECBis not currently in negotiations with any European government to trigger the central bank's debt purchases, Executive Board member Benoit Coeure said, as pressure mounts ...

Economic Times

Euro Edges Up as Euro Zone Uncertainty Limits Gains
CNBC.com
Euro-zone ministers received more bad news on Wednesday when Athens more than halved its forecast for a budget surplus before debt-servicing costs next year, dimming one of its few bright spots as rounds of austerity deepen a recession already into its ...

CNBC.com

Is Spain's Debt Crisis Over? | Institutional Investor
Is Spain's Debt Crisis Over? Not quite. While yields have dropped and investor interest has risen, Spain's complicated relationship with the ECB looks set to ...
www.institutionalinvestor.com/.../Is-Spains-Debt-Crisis-Over.h...

EU budget: who pays what and how it is spent - Telegraph: "We take a closer look at what Britain pays towards the EU budget, how Brussels spends it, and the countries that contribute the most."

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