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Νews about the accelerating economic debt crisis in EuroZone
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Dutch unemployment rises, more than half a million people unemployed

Dutch unemployment rises, more than half a million people unemployed | Eurozone | Scoop.it
According to the latest figures released by Statistics Netherlands, seasonally adjusted unemployment climbed further to 510 thousand in July 2012, i.e. 6.5 percent of the labour force.
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"Spain Must Surrender Now" by Christopher T. Mahoney

"Spain Must Surrender Now" by Christopher T. Mahoney | Eurozone | Scoop.it

Spain’s Prime Minister remains tight-lipped on whether he has decided to ask for more financial aid for his country, repeating instead Tuesday that he would wait until the European Central Bank outlines its plans and conditions for buying government bonds before making a move.

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"Break-Up Could Make EU Function Better" Says Finnish Foreign Minister; Finland Totally Committed to Euro, Yet Prepared Breakup

"Break-Up Could Make EU Function Better" Says Finnish Foreign Minister; Finland Totally Committed to Euro, Yet Prepared Breakup | Eurozone | Scoop.it

I have to wonder "what consensus" the Finnish foreign minister is referring to when he says "eurozone break-up would cost more in the short-run or medium-run than managing the crisis".

Consensus of nannycrats? Of politicians who bet their career on saving the euro? Of the Southern eurozone countries? ...

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"Saving France, Saving Europe" by Michel Rocard

"Saving France, Saving Europe" by Michel Rocard | Eurozone | Scoop.it
With the Socialists now in control of the presidency, the National Assembly, and almost all subnational governments, France is now witnessing a concentration of power that is unprecedented in its republican history.
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For Europe’s Economy, a Lost Decade Looms

For Europe’s Economy, a Lost Decade Looms | Eurozone | Scoop.it
With the exception of Germany, none of Europe’s biggest economies have returned to the level of economic output they had at the beginning of 2008.
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France. Liberté, égalité, fermeté? | The Economist

France. Liberté, égalité, fermeté? | The Economist | Eurozone | Scoop.it
THIS has been a busy summer for the French police. Beyond the usual seasonal wave of petty theft and dealing with the broken French of pick-pocketed tourists, some...
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Merkel Mulls Easing Greece Bailout Terms, Lawmakers Say

Merkel Mulls Easing Greece Bailout Terms, Lawmakers Say | Eurozone | Scoop.it

Chancellor Angela Merkel is considering easing Greece’s bailout terms, fanning tensions with members of her coalition who oppose giving the Greek government any more concessions, two German lawmakers said.

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Wonk Wars: How Big Are EU Deficits?

Wonk Wars: How Big Are EU Deficits? | Eurozone | Scoop.it
Differences between European and U.S. economists over deficits and economic growth will affect how budgets are set in the EU—and especially the 17-nation euro zone—for years to come.
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Finland prepares for break-up of eurozone - Telegraph

Finland prepares for break-up of eurozone - Telegraph | Eurozone | Scoop.it
Finland is preparing for the break-up of the eurozone, the country’s foreign minister warned today.
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Austria Calls for Euro-Zone Exit Mechanism

Austria Calls for Euro-Zone Exit Mechanism | Eurozone | Scoop.it

VIENNA -- Austria's foreign minister on Thursday called for the euro zone to create a legal mechanism to facilitate member states that don't live up to their promises being kicked out of the currency union.

 

 

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The Eurozone crisis has made Germany the scapegoat of Europe

The Eurozone crisis has made Germany the scapegoat of Europe | Eurozone | Scoop.it

Germany has been less affected by the Eurozone’s problems than many of its neighbours and the country has experienced a relative increase in its economic standing within the EU. As Sebastian Pfeffer notes, however, Germany’s power ensures that it must bear the bulk of the responsibility for solving the crisis. Arguing that EU governments have a long history of shifting blame for unpopular policies to the European level, the analysis concludes that the more Germany tries to save the Eurozone, the more it becomes a scapegoat for policy failures.

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"Early Retirement for the Eurozone?" by Nouriel Roubini

"Early Retirement for the Eurozone?" by Nouriel Roubini | Eurozone | Scoop.it
Germany and the ECB are now relying on the hope that large-scale liquidity will buy time to allow the adjustments needed to restore growth and debt sustainability in the eurozone periphery.
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More than £100bn could be wiped off the UK economy if crisis in Greece shatters eurozone

More than £100bn could be wiped off the UK economy if crisis in Greece shatters eurozone | Eurozone | Scoop.it
Senior government sources say secret Treasury estimates have calculated that the UK’s output would drop by 7 per cent if the single currency plunged into fresh chaos as a result of a Greek exit from the euro.
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Europe’s tired engine | The Economist

Europe’s tired engine | The Economist | Eurozone | Scoop.it
AFTER a promising May and June, Steffen Knoop has seen his sales dip by 30%. His small Hamburg-based company, Wascut, sells cooling and cleaning oils for big...
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What Recovery? Petroleum Deliveries Lowest Since September 2008; Weakest July Demand Since 1995 | ZeroHedge

What Recovery? Petroleum Deliveries Lowest Since September 2008; Weakest July Demand Since 1995 | ZeroHedge | Eurozone | Scoop.it
While the Achilles heel to the endless "economic data" BS coming out of China may be its electric production and demand, both of which show a vastly different picture than what the Beijing politburo's very wide brush strokes paint, the US itself is...
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Madrid Mayor says Spain rescue seems inevitable

Madrid Mayor says Spain rescue seems inevitable | Eurozone | Scoop.it
MADRID, Aug 17 (Reuters) - The mayor of Madrid, a prominentmember of Spain's ruling party, said on Friday it seemsinevitable the central government would apply for some kind ofinternational aid package...
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Euro-Zone Exports Jump

Euro-Zone Exports Jump | Eurozone | Scoop.it
A surge in exports boosted the euro zone's trade surplus to its highest on record, giving a boost to hopes that demand from other countries could help drag the region out of its economic downturn.
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Italy To Run Out Of Liquidity To Cover Its Deficit Shortfall By Year-End - BofA Merrill

Italy To Run Out Of Liquidity To Cover Its Deficit Shortfall By Year-End - BofA Merrill | Eurozone | Scoop.it
Date: 17 Aug 2012 00:06 EDT Authored By: By eFXnews.com Show Research Link: Hide Hide Provider Logo: Show provider logo Italy Ministry of Finance would have enough liquidity to cover two to three months of the average deficit shortfall in Q4 but won't...
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A Modest Proposal for Resolving the Euro Crisis: an abridged version as published by the Financial Times On Line

A Modest Proposal for Resolving the Euro Crisis: an abridged version as published by the Financial Times On Line | Eurozone | Scoop.it

The Eurozone is disintegrating under the weight of three intertwined crises unfolding in the realms of banking, public debt and under-investment & internal imbalances.

 

For two years each and every response by Europe’s leadership to the crisis proved consistently underwhelming. The reason was Europe’s steadfast denial that this is a systemic crisis, as opposed to just a failure of fiscal discipline in some of its member-states.

 

 

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Commission wants ECB to supervise major euro banks: paper

Commission wants ECB to supervise major euro banks: paper | Eurozone | Scoop.it
BERLIN (Reuters) - The European Commission will propose next month giving the European Central Bank supervision over all of the euro zone's major banks, German business newspaer Handelsblatt said on Friday,...
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Peugeot on the Brink: How Paris Is Killing French Industry - SPIEGEL ONLINE

Peugeot on the Brink: How Paris Is Killing French Industry - SPIEGEL ONLINE | Eurozone | Scoop.it
French carmaker Peugeot is fighting for its survival. But, by keeping its plants in-country and supporting wage hikes, the government is ignoring the rules of survival in the age of globalization.
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Spain’s Creative Protests: Flamenco Flash Mobs and Supermarket Robin Hoods

Spain’s Creative Protests: Flamenco Flash Mobs and Supermarket Robin Hoods | Eurozone | Scoop.it
Angry demonstrations are one thing, but the irate in Spain are stomping their flamenco heels at banks and robbing supermarkets to give to the poor...
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Italy's Monti says not planning income tax cut

Italy's Monti says not planning income tax cut | Eurozone | Scoop.it
ROME (Reuters) - Italian Prime Minister Mario Monti said on Thursday his government is not considering cutting income taxes, denying a newspaper report that he was looking to such a move to revive the...
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German lawmakers demand ECB voting reform, oppose bond buying

German lawmakers demand ECB voting reform, oppose bond buying | Eurozone | Scoop.it
BERLIN (Reuters) - A handful of lawmakers in Angela Merkel's coalition are demanding a reform of the European Central Bank's voting system to strengthen Germany's influence, highlighting worries in Europe's...
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Thousands of Roma face unforgiving future as France launches new campaign to dismantle camps

GENNEVILLIERS, France — The camps weren’t much to begin with: They had no electricity or running water. Grocery carts served as makeshift grills. Rats ran rampant and fleas gnawed on young and old alike.
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