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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
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Why the euro turkey is well and truly stuffed

Why the euro turkey is well and truly stuffed | Countdown to Financial Armageddon | Scoop.it

'The coming break-up of the single currency makes Britain’s veto seem a mere sideshow', writes Jeff Randall in The Telegraph.

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Uh Oh! Fitch downgrades six global banks

Uh Oh! Fitch downgrades six global banks | Countdown to Financial Armageddon | Scoop.it

Ratings agency Fitch downgrades six of the world's largest banks, including Goldman Sachs and Barclays, citing the challenging financial markets.

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Did the co-ordinated central bank action on 30 November marked a turning point in the Euro crisis?

Did the co-ordinated central bank action on 30 November marked a turning point in the Euro crisis? | Countdown to Financial Armageddon | Scoop.it

BBC Economics editor, Stephanie Flanders writes 'No-one thinks the eurozone crisis is over or that European leaders did enough last week to rule out nasty surprises in the next few weeks, but talking to officials, economists and analysts closer to the trading floor in the last few days, something has changed that I'm going to take as a sliver of good cheer.'

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Why Britain should pity those still trapped in the euro nightmare

Why Britain should pity those still trapped in the euro nightmare | Countdown to Financial Armageddon | Scoop.it

Angela Merkel and Nicolas Sarkozy are engaged in something that has little to do with democracy.

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Which do you prefer: a horrible end to the Euro, or endless horror?

Which do you prefer: a horrible end to the Euro, or endless horror? | Countdown to Financial Armageddon | Scoop.it

While we are waiting for Mario and Merkozy plus, just a quick thought on one of the EMU break-up reports hitting my desk daily, and sometimes in twos and threes.

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Tesco plans for eurozone break-up

Tesco plans for eurozone break-up | Countdown to Financial Armageddon | Scoop.it

Tesco is shifting its currency exposure, holding cash and refusing to sign long-term supply contracts in the face of the eurozone crisis.

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We'd better get used to living with the euro crisis. It's the new normal

We'd better get used to living with the euro crisis. It's the new normal | Countdown to Financial Armageddon | Scoop.it

An excellent Telegraph article: 'There are two main schools of thought when it comes to fixing the eurozone debt crisis at the moment. The first is that matters will come to a head around Spring and a solution will be found.'

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Greek PM loses majority for vote

Greek PM loses majority for vote | Countdown to Financial Armageddon | Scoop.it

The Greek government teeters on the brink of collapse as three ruling party MPs say they will abstain from a confidence motion on Friday.

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Greek referendum is coin-flip on euro exit

Greek referendum is coin-flip on euro exit | Countdown to Financial Armageddon | Scoop.it

If Greeks reject the 50% controlled default on the debts they owe to the banking sector, then the arithmetic I revealed on Newsnight on the eve of the Euro summit comes into play - without a 50% haircut, and a further 130bn euro bailout, on top of 110bn, Greek debt spirals out of control and the country goes bust.

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George Osborne warns of 'blank spaces' in Eurozone rescue package - Telegraph

George Osborne warns of 'blank spaces' in Eurozone rescue package - Telegraph | Countdown to Financial Armageddon | Scoop.it

George Osborne has warned there are still “blank spaces” in the rescue deal agreed last night by European leaders to tackle the continent’s debt crisis.

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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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Is the €2 trillion rescue bid enough to save Europe?

Is the €2 trillion rescue bid enough to save Europe? | Countdown to Financial Armageddon | Scoop.it

George Osborne has admitted for the first time that Britain may have to provide billions of pounds more to bail out the eurozone as part of €2 trillion international efforts to shore up the single currency bloc and revitalise the flagging...

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Euro Crisis Talks: Sarkozy says plan will be ready by end of October

Euro Crisis Talks: Sarkozy says plan will be ready by end of October | Countdown to Financial Armageddon | Scoop.it

The German and French leaders say they will propose "important changes" to the way the eurozone operates after talks on controlling the bloc's debt crisis.

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French minister knocks UK economy

French minister knocks UK economy | Countdown to Financial Armageddon | Scoop.it

French Finance Minister Francois Baroin becomes the latest senior figure in Paris to criticise weaknesses in the British economy.

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Euro Approaches 11-Month Low against US dollar as Italy Borrowing Costs Rise

Euro Approaches 11-Month Low against US dollar as Italy Borrowing Costs Rise | Countdown to Financial Armageddon | Scoop.it

The euro was about 0.3 percent from an 11-month low against the dollar as Italian borrowing costs rose at a debt auction and Spanish banks’ borrowings from the European Central Bank increased by the most in more than a year.

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Top economists reveal their graphs of 2011

Top economists reveal their graphs of 2011 | Countdown to Financial Armageddon | Scoop.it

The BBC's Newsnight asked top economists to each select a graph which they considered key to the economic story of 2011. Here those experts show us which graphs they chose and explain why.

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What the Euro Crisis means for Portugal

What the Euro Crisis means for Portugal | Countdown to Financial Armageddon | Scoop.it

Click on the graphic and scroll down to read an interview... it's in English

(Is it me, but if you look at the photo above quickly the 2 guys look like Gilbert & George (the artists)????

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Central Banks Prep for Life After Euro

Central Banks Prep for Life After Euro | Countdown to Financial Armageddon | Scoop.it

More evidence of the coming Euro dissolution?  Some central banks in Europe have started weighing contingency plans to prepare for the possibility that countries leave the euro zone or the currency union breaks apart entirely, according to people familiar with the matter.

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Moody's warns on French rating outlook

Moody's warns on French rating outlook | Countdown to Financial Armageddon | Scoop.it

PARIS (Reuters) - A rise in interest rates on French government debt and weaker growth prospects could be negative for the outlook on France's credit rating, Moody's warned in a report on Monday, adding...

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Has The Dollar Lost its Safe Haven Status?

Has The Dollar Lost its Safe Haven Status? | Countdown to Financial Armageddon | Scoop.it

Given the scale and complexity of the Greek crisis, it might reasonably have been expected that the euro would have plunged in value against the US dollar, the traditional safe-haven currency in times of uncertainty.

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Does Papandreou Fear a Military Coup in Greece?

Does Papandreou Fear a Military Coup in Greece? | Countdown to Financial Armageddon | Scoop.it

Amidst a deepening political crisis in debt-scarred Greece, Prime Minister George Papandreou sparked even more outrage by replacing senior members of the Greek military with officials deemed to be more sympathetic to Papandreou.

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Why the latest eurozone bail-out is destined to fail within weeks - Telegraph

Why the latest eurozone bail-out is destined to fail within weeks  - Telegraph | Countdown to Financial Armageddon | Scoop.it

I want last week's European bail-out to work. My sincere hope is that collective and decisive action by the eurozone's large member states will stabilize global markets, at least for a while, so allowing the global economy to catch its breath.

 

By late Thursday, though, and certainly on Friday, the warning signs were there. Global bond markets, by character more sober and smarter than the excitable equity guys, were voting against the deal. This is alarming. For it is only by selling more bonds that the eurozone's deeply indebted governments can roll-over their enormous liabilities and keep the show on the road.

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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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G20 Tells Euro Zone to Fix Debt Crisis In Weeks

G20 Tells Euro Zone to Fix Debt Crisis In Weeks | Countdown to Financial Armageddon | Scoop.it

The world's leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs' meeting.

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