Category: Eurozone Debt Crisis
The analysis published under this category are as follows.
Friday, June 29, 2012
A Eurocrash Is Baked in the Cake / Stock-Markets / Eurozone Debt Crisis
By: Casey_Research
In an interview with Louis James, world traveler and legendary speculator Doug Casey makes a compelling case for becoming a "permanent tourist" to be best able to survive the coming economic crash.
Louis James: So Doug, you're off to FreedomFest 2012 shortly, where people will be able to hear your latest thoughts on many subjects. Maybe you can give us a sneak preview on whatever is uppermost on your mind today.
Read full article... Read full article...
Thursday, June 28, 2012
The EU Has Already Broken Up… They Just Haven’t Formalized Yet / Politics / Eurozone Debt Crisis
By: Graham_Summers
I’ve often been labeled as “Gloom and Doom” in the past, but the situation in Europe today is beyond anything I’ve ever seen before. It is highly likely that the EU will not exist in their current form by the end of the year
I realize some of this may sound overly dramatic. But the following should give you an idea of how serious things are getting:
Read full article... Read full article...
Thursday, June 28, 2012
European Political Leaders Play With Fire / Politics / Eurozone Debt Crisis
By: John_Browne
The world economy today stands at the doorstep of great change. A gathering crisis looms in Europe, splitting the Continent into two competing blocs. While leaders there face off against one another in a high stakes game of chicken, the rest of the world powerlessly watches the train wreck slowly unfold. Political leaders on both sides of the Atlantic fail to grasp the fragility of the current world order and do not understand the forces they are unleashing. A parallel here can be drawn with the political situation that existed on the eve of the First World War. For the most part European leaders were not bent upon death and destruction. However these largely ordinary men were held captive by national delusions and a complex system of alliances and treaties that had not been thought through to their logical conclusions. This resulted in a situation where a single assassination was enough to plunge the Continent into a bloodbath.
Read full article... Read full article...
Wednesday, June 27, 2012
Nouriel Roubini: Germany to Eurozone - You Lost Your Virginity, Can't Commit to Marriage Today / Politics / Eurozone Debt Crisis
By: Bloomberg
Nouriel Roubini and Ian Bremmer of Eurasia Group appeared on "Bloomberg Surveillance" with Tom Keene, Sara Eisen and Ken Prewitt today to discuss Europe's debt crisis.
On Germany bailing out other euro zone countries, Roubini said, "The Germans say, 'you lost your virginity. Now you sign a contract. You say, 'I'm a born again virgin.' Be abstinent for the next two years. Show me your soul and two years from now, we're going to get married. But today, I commit to marriage today? Forget it.'
Read full article... Read full article...
Tuesday, June 26, 2012
Forget the PIIGS, The Whole of Europe Is Insolvent / Politics / Eurozone Debt Crisis
By: Graham_Summers
Europe is heading into a full-scale disaster.
You see, the debt problems in Europe are not simply related to Greece. They are SYSTEMIC. The below chart shows the official Debt to GDP ratios for the major players in Europe.
Read full article... Read full article...
Tuesday, June 26, 2012
Eurozone Debt Crisis, What Will Germany Do? / Interest-Rates / Eurozone Debt Crisis
By: John_Mauldin
This week all eyes are on Germany, and the question is "What will Germany do?" We are going to look at four quite-short essays. Two are from GaveKal, one is from Dennis Gartman, and the last is from Kiron Sarkar – all on this very topic.
One of the reasons I really like to read the research from GaveKal is that they are very public when their analysts disagree, and you get to listen to the back and forth. Some of the best analysis I see is when Charles and Louis Gave (father and son) and Anatole Kaletsky do email battle with each other while they are on three different continents. This time it is Anatole and one of their analysts, Francois Chauchat (whom I have not had the pleasure of meeting), differing on whether Germany should (or even can!) leave the eurozone.
Read full article... Read full article...
Tuesday, June 26, 2012
Germany's Finance Minister Lectures Obama On Debt and Defends Euro / Politics / Eurozone Debt Crisis
By: Mike_Shedlock
President Barack Obama should focus on cutting America's own budget deficit before advising Europe on how to tackle its debt problems says German finance minister Wolfgang Schäuble in the Spiegel article in Germany Rejects Obama's Criticism in Euro Crisis
German Finance Minister Wolfgang Schäuble rebuffed recent criticism of Germany's handling of the euro crisis from Barack Obama, telling the US president to get his own house in order before giving advice.Read full article... Read full article...
Monday, June 25, 2012
George Soros: Merkel Leading Europe in the Wrong Direction, German Bond Bubble / Politics / Eurozone Debt Crisis
By: Bloomberg
BLOOMBERG EXCLUSIVE: Billionaire investor George Soros spoke to Bloomberg TV's Francine Lacqua, calling on Europe to start a fund to buy Italian and Spanish bonds.
Soros said, "There is a disagreement on the fiscal side...unless that is resolved in the next three days, then I am afraid the summit could turn out to be a fiasco. That could actually be fatal."
Read full article... Read full article...
Saturday, June 23, 2012
Germany Could Pull Out of the Euro Before Spain is Even “Saved” / Interest-Rates / Eurozone Debt Crisis
By: Graham_Summers
As I’ve assessed in earlier pieces, neither the Fed, nor the IMF, nor the EFSF, nor the ECB has the firepower or the political backing to prop up Spain or the EU.
This ultimately leaves the ESM, the permanent European Stability Mechanism… which technically doesn’t even exist yet (it’s supposed to be ratified by July 2012).
Read full article... Read full article...
Friday, June 22, 2012
Spain's Banks Cook the Books as House Prices Crash Accelerates / Interest-Rates / Eurozone Debt Crisis
By: Raul_I_Meijer
The results of the "independent" Spanish bank stress test by Oliver Wyman Ltd, just out, indicate that the banks will need €62 billion ($78 billion) in a worst case scenario (a 6.5% GDP shrinkage and a 60% home price plunge). Since €100 billion was the number the EU said would go towards the bank bailout announced last week, what's the problem, right?
Well, there are plenty. In a nice aside, the Bank of Spain reported a few days a go that its own stress test won't be published until September, because too much bank staff will be on holiday this summer(!) to do it sooner. Not much of a sense of urgency there, more like going to the beach when your house is on fire. And that might not work out well.
Read full article... Read full article...
Thursday, June 21, 2012
European Debt Crisis "Imagine the Worst and then Double It" / Interest-Rates / Eurozone Debt Crisis
By: EWI
We've all heard the line: Let me give it to you straight.
And in speaking to his counterparts in Spain, an Irish economist did just that.
Read full article... Read full article...Ireland has this banking advice for Spain: imagine the worst and double it. [emphasis added]
Thursday, June 21, 2012
Germany's Revenge! Ominous Greece, EU Parallel to the 1930s / Politics / Eurozone Debt Crisis
By: Ron_Holland
"The Euro Titanic has now hit the iceberg and sadly there simply aren't enough lifeboats." – Nigel Farage, United Kingdom Independence Party
Another Greek election and an uncertain outcome will likely continue the corrupt status quo in Greece. The Greek politicians on the take by the EU interests acting like most Western politicians and the American two-party mafia monopoly will continue to steal from the Greek people and the bailouts while the nation gets poorer. We are watching a throwback to the Great Depression years of the 1930s in Europe.
Read full article... Read full article...
Wednesday, June 20, 2012
Eurozone Debt Crisis is Far From Over / Interest-Rates / Eurozone Debt Crisis
By: Money_Morning
Dr. Kent Moors writes:
The Greek election last weekend has brought us a brief reprieve. The nation and the Eurozone have stepped back from the brink.
But the larger truth is that little has changed.
Yes, the Eurozone has survived its latest test, yet there is little indication where it will go from here. Considerable continental support for the common currency remains, and EU officials will soon introduce initiatives to consolidate banking and financial policy in the European Union.
Read full article... Read full article...
Tuesday, June 19, 2012
Spain and the Western Financial System on the Brink / Interest-Rates / Eurozone Debt Crisis
By: Mario_Innecco
This weekend the world kept a close eye on the Greek parliamentary elections and the big worry, from a EU establishment perspective, was that the a victory by the Coalition of the Radical Left or SYRIZA would result in market turmoil today. SYRIZA, under the leadership of Alexis Tsipras, did not win and the New Democracy party triumphed and as a result Greece is now expected to stay the course as far as the EU bailout plan is concerned. So this should have been great news for the markets right? Europe could now move ahead and sort its sovereign debt crisis out.
Read full article... Read full article...
Tuesday, June 19, 2012
Euro-zone Galloping Towards Financial Armageddon / News_Letter / Eurozone Debt Crisis
By: NewsLetter
The Market Oracle NewsletterJune 4th , 2012 Issue #8 Vol. 6
Read full article... Read full article...
Tuesday, June 19, 2012
Greece Exit, Euro-Zone Collapse, Spain and Portugal Will Follow Within 6 Months / News_Letter / Eurozone Debt Crisis
By: NewsLetter
The Market Oracle NewsletterMay 12th , 2012 Issue #6 Vol. 6
Read full article... Read full article...
Tuesday, June 19, 2012
France and Greece Voters Reject Austerity for Money Printing Inflation Stealth Debt Default / News_Letter / Eurozone Debt Crisis
By: NewsLetter
The Market Oracle NewsletterMay 8th , 2012 Issue #5 Vol. 6
Read full article... Read full article...
Monday, June 18, 2012
The Eurozone Bailouts Question No Ones Asking / Interest-Rates / Eurozone Debt Crisis
By: Graham_Summers
While everyone else is focusing on the Greek elections, the REAL issues pertaining to the EU (namely where the funding for Spain’s bailout as well as future bailouts will come from) continues to be ignored.
Indeed, no one seems to be asking THE key question regarding the EU: Just WHERE is the money for this bailout going to come from?
Read full article... Read full article...
Monday, June 18, 2012
Greece Election Result Will Postpone Europe's Economic Recovery / Politics / Eurozone Debt Crisis
By: Bloomberg
Today on "Market Makers" with Erik Schatzker and Stephanie Ruhle, Mike Novogratz of Fortress Investment Group said that the results of the Greek election will postpone a recovery in Europe. He said, "If we had the Lehman moment it would have forced the European authorities to decide, are they in or are they out. But we've pushed the ball down the field."
Novogratz also said, "for your children's money you should be short every fixed-income instrument on the planet, or at least in the developed world...we're going to continue to have a lot of tension in the markets for awhile."
Read full article... Read full article...
Monday, June 18, 2012
PIMCO's Gross: Germany is a Credit Risk, Not an Attractive Market / Interest-Rates / Eurozone Debt Crisis
By: Bloomberg
Bill Gross of PIMCO spoke to Erik Schatzker and Stephanie Ruhle on Bloomberg TV's "Market Makers" today and said, "I would be leery of German bunds simply because there are only a few scenarios in which they can do well...Germany for me is a credit risk. It's not an attractive market."
Gross went on to say that Spanish bonds are "not a safe environment," and right now, the U.S. and U.K. are the "cleanest dirty shirts."
Read full article... Read full article...