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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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Ireland demands debt relief, warns on EU treaties

Ireland demands debt relief, warns on EU treaties | Countdown to Financial Armageddon | Scoop.it

Europe's plans for treaty changes to enforce fiscal discipline in the eurozone may fall foul of popular anger in Ireland unless the EU creditor states agree to share more of the pain.

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Extra euro crisis summit called

Extra euro crisis summit called | Countdown to Financial Armageddon | Scoop.it

EU leaders are to hold another summit by Wednesday at the latest, because they will not be able to agree a rescue plan for the eurozone on Sunday.

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SLOWLY, THEN SUDDENLY! Italy's credit rating is slashed as Euro stares into the abyss

SLOWLY, THEN SUDDENLY! Italy's credit rating is slashed as Euro stares into the abyss | Countdown to Financial Armageddon | Scoop.it

Get ready for the dominos to fall .... The Italian government's credit rating is slashed by ratings agency Moody's from Aa2 to A2 due to "market sentiment".

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MIND YOUR OWN BUSINESS! Germany slams 'stupid' US plans to boost EU rescue fund

MIND YOUR OWN BUSINESS! Germany slams 'stupid' US plans to boost EU rescue fund | Countdown to Financial Armageddon | Scoop.it

More debt is not the answer! Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others.

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EU Considers Wielding $1.3T to Break Debt Impasse

EU Considers Wielding $1.3T to Break Debt Impasse | Countdown to Financial Armageddon | Scoop.it
European governments may unleash as much as 940 billion euros ($1.3 trillion) to fight the debt crisis, seeking to break a deadlock between Germany and France that is forcing leaders to hold two summits within four days.
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“We’re Seeing a Practical Example of Contagion Playing Out,” Dexia Moves Debt Crisis From EU Periphery to Core

“We’re Seeing a Practical Example of Contagion Playing Out,” Dexia Moves Debt Crisis From EU Periphery to Core | Countdown to Financial Armageddon | Scoop.it

Less than three months after Dexia SA got a clean bill of health in European Union stress tests, France and Belgium are considering a second bailout, moving the banking crisis from the continent’s periphery to its heartland.

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Germany Approves EU Bailout Fund

Germany Approves EU Bailout Fund | Countdown to Financial Armageddon | Scoop.it

A large majority in Germany's parliament approves new powers for the EU's main bailout fund, despite opposition from some members of the ruling coalition.

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