More EU Bad Economic Data: German Unemployment Worse Than Expected! Portugal’s Budget Deficit Widened; 5.15% SPAIN 10YR! Italian GDP Forecast Revised Lower And Political Deadlock Worsening!

German Unemployment Comes In Worse Than Expected

The German labor market is still the envy of the world, but this particular monthly datapoint wasn’t quite as hot as expected.

Rather than a net creation of 2K jobs (as expected) it was actually a loss.

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Cyprus Market‏@russian_market5 min
German 10-year drops to 1.255%: lowest since August 3, 2012

Cyprus Market‏@russian_market7 min
German March Unemployment rose adj 13.000 vs. est. 2.000 drop


At 6:00 AM ET, banks in Cyprus reopened their doors for the first time since March 16.


Wall Street Journal’s Joe Parkinson reports that only eight people are being allowed in at a time at one Bank of Cyprus branch.

However, the crowds have been orderly.

Everyone is wondering whether there will be a huge run on the banks.

So far? Not yet.

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Policeman tells queue, delay opening by five minutes: ” we’re not quite ready”. Queue up to about 30

Live webcast from Cyprus

zerohedge‏@zerohedge37 min 
Head of Italian statistics agency says GDP may fall by more than the 1.3% forecast by the government

zerohedge‏@zerohedge42 min 
ECB says deposits in Cyprus banks fell 4.3% in February

Cyprus Market‏@russian_market30 min

zerohedge‏@zerohedge5 min
Portugal’s Budget Deficit Widened to 6.4% in 2012, was 4.4% in 2011 – INE

UBS: Monetary Unions Die Because Of Bank Runs

UBS Senior Economist Paul Donovan warns that a bank run in Cyprus would be bad news.

“Monetary unions die because of bank runs,” he writes. “The beeping heard from Cyprus is the sound of a monetary union on a life support system.”
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Gavin Hewitt‏@BBCGavinHewitt11 min
After the watching the pain of Cyprus worth keeping an eye on Italy. At the moment there is political deadlock # #Italy


MARC FABER: Not Even Gold Will Save You From What Is Coming

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  • Kit Holz

    Fake British propaganda! The Brits have to destabilize the Euro zone in order to survive economically by looting further.

    Germany’s economy is growing in the first quarter at the same pace at the US! Unemployment – the real figures in the US and in Germany are similar between 15 (Germany) and 21% (US). UK has much higher unemployment rates. Why is it that the UK population can’t afford their energy bill? We don’t here these from people in Portugal, Spain or other European countries.

    Just a desperate useless effort by Small Britain and laughable too.