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Bruno Waterfield Karel De Gucht, the EU’s Belgian trade commissioner, has told the De Standaard newspaper that the European Commission and the European Central Bank are confident the euro can weather the storm. ”A year and a half ago there may have been the danger of a domino effect,” he said. ”But today there are, both within the European Central Bank and the European Commission, services that are working on emergency scenarios in case [...] raders have warned of more market turbulence after elections in Greece and France fuelled uncertainty over Europe’s ability to solve its debt crisis. Germany’s Dax and France’s Cac-40 were more than 1% lower and the main stock exchange in Athens slumped 8% as markets worried that Greece’s failure to form a government has placed further doubt over the country’s rescue, increasing speculation over the eventual break-up of the single currency. The election [...] by AP BERLIN (AP) — Germany’s government cut the country’s 2012 growth forecast Wednesday due to a faltering global economy and Europe’s debt crisis, sparking fears that the region’s largest economy could tip into recession. Following what is believed to have been a contraction in economic activity in the fourth quarter of 2011, Economy Minister Philipp Roesler said the government had reduced Germany’s growth forecast for this year from 1 percent to 0.7 [...] PRESS RELEASE Oct. 6, 2011, 5:00 a.m. EDT LONDON, October 6, 2011 /PRNewswire via COMTEX/ — As economic data deteriorates and markets continue their decline, policymakers around the world are faced with a decision: Do nothing and face the likelihood of recession or even depression, or intervene in the economy with more monetary and fiscal stimulus. Mounting Pressure To Act As the debt crisis in the [...] BY MARTIN HUTCHINSON, Global Investing Strategist, Money Morning I first thought U.S. Federal Reserve Chairman Ben Bernanke was being deceitful when he denied the existence of inflation – but now I’m beginning to think he’s simply delusional. Anyone who watched or listened to Bernanke’s Oct. 4 congressional testimony must have reached the same conclusion. “Persistent factors continue to restrain the pace of recovery,” Bernanke said. Then the Fed Chairman promised [...] by woodytasch I sometimes wonder whether the “numb” in numbers was just waiting for the 21st century. As in what my friend Lee said to me over breakfast the other day, after a cursory discussion about the week’s stock market turbulence, “I try to keep up, but it’s pretty mind numbing.” Within a few minutes of that remark, the following sentence came from the radio, “Investors’ are struggling to [...] by Adam, Chris Martenson With renewed economic slowdown, resurgent banking crises around the globe, and increasing financial market turbulence, August has been a busy month. Media requests for Chris’ insights have picked up and I thought I’d share some of the more recent ones here for those who have yet to see them. These four provide a good update on where Chris sees us on the timeline [...] http://m.startribune.com/opinion/?id=127870568&c=y Article by: STEVEN RATTNER , New York Times Updated: August 16, 2011 – 11:38 AM In the middle of all the debt default drama and stock market turbulence, the leading Republican presidential candidates have begun to fill in the shadowy outlines of their positions on major economic issues. And what a picture it is, a philosophy oriented around shrinking the role of the federal government in every imaginable way, by [...] France, Italy, Spain and Belgium plan to enact bans on short selling or on short positions, the European Securities and Markets Authority said today. “Some authorities have decided to impose or extend existing short-selling bans in their respective countries,” ESMA said in a statement on its website. “They have done so either to restrict the benefits that can be achieved from spreading false rumors or to achieve a regulatory level playing [...] NEW YORK (CNNMoney) — California secured a $5.4 billion loan to see it through the financial market turbulence that could hit if federal policymakers don’t solve the debt ceiling impasse by Aug. 2. Eight major financial institutions, including Goldman Sachs (GS, Fortune 500) and Wells Fargo (WFC, Fortune 500), put up the funds, which will help the state with its daily cash flow needs. Also, the money [...] “Orszag: Panic needed before debt ceiling boost A former White House budget chief said Thursday that Congress won’t reach a deal to raise the nation’s ability to borrow until the financial markets panic. Peter Orszag, who used to run the Office of Management and Budget, said he believes that Congress has no appetite to raise the debt ceiling — just as they had no political will to pass [...] By Larry M. Elkin, CPA, CFP® Citizens of Germany, Greece and Ireland are all learning an important lesson: When you share a lifeboat with someone, you can’t each go your own way. Germany is the biggest contributor to the $113 billion bailout that the European Central Bank and the International Monetary Fund cobbled together for Ireland last weekend. The seven-year package of loans, totaling 85 billion euros [...] |
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