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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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The Ugly Numbers Behind Italy's Debt Crisis

The Ugly Numbers Behind Italy's Debt Crisis | Countdown to Financial Armageddon | Scoop.it

Here’s a back of the envelope calculation on Italy, highlighting the impact that a rise in financing costs coupled with a lack of growth can have on their finances

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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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Greek clashes amid general strike

Greek clashes amid general strike | Countdown to Financial Armageddon | Scoop.it

Greek protesters angry at the government's austerity policies clash with police, as a 48-hour general strike paralyses the country.

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Not for the squeamish! Europe's Web of Debt - Click on graphic for a better view of how the contagion could spread

Not for the squeamish! Europe's Web of Debt - Click on graphic for a better view of how the contagion could spread | Countdown to Financial Armageddon | Scoop.it

Banks and governments in these five shaky economies owe each other many billions of euros, and have even larger debts to Britain, France and Germany.

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Mario Draghi fears Italian debt spiral

Mario Draghi fears Italian debt spiral | Countdown to Financial Armageddon | Scoop.it

Italy risks a debt spiral without "drastic" steps to cut spending and restore confidence in public finances, the country's central bank governor has warned.

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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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And Another One! New Zealand's Sovereign Debt Gets Double Downgrade

Standard and Poor's and Fitch downgraded New Zealand's sovereign debt ratings on Friday in what economists said was as much to do about turmoil on world financial markets as it was...

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Debt woes 'danger to all Europe'

Debt woes 'danger to all Europe' | Countdown to Financial Armageddon | Scoop.it

UK Chancellor George Osborne says the eurozone debt crisis is a "real danger to all of Europe" as he arrives in Brussels for talks on the bloc's problems.

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5 Reasons Why the Dow Will Fall to 10,000 by June 2012

You can't blame investors for feeling a bit cautious regarding the Dow Jones Industrial Average's (DJIA) recent push from 10,700 to 11,140 in the past month. The stock market's bears say it's a false rally, and the Dow is likely to fall.

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Moody's cuts Spain's debt rating

Moody's cuts Spain's debt rating | Countdown to Financial Armageddon | Scoop.it

Moody's follows other ratings agencies in downgrading Spanish government debt, in response to the eurozone debt crisis.

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Berlin experts fear euro break-up from bail-out escalation

Berlin experts fear euro break-up from bail-out escalation | Countdown to Financial Armageddon | Scoop.it

Plans to increase the firepower of Europe's bail-out machinery with extra
leverage threaten France's AAA rating and risk setting off a dangerous chain
of events, a top German institute has warned.

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Germany Overtakes Spain in Credit Default Swaps

Bets on German credit quality overtook those on Spain for the first time in a year as the mounting cost of bailing out the region's most indebted nations infects Europe's largest economy.

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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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