Eurozone
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Νews about the accelerating economic debt crisis in EuroZone
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Doubts Rise on EU Deal

Italy paid higher yields than at corresponding previous auctions to sell €7.94 billion in four government bonds as the initial rally in peripheral debt after the EU summit seems to be running out of steam.
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Euro Falls, Pares Weekly Gain as Fitch Says Greek Haircut Would Be Default

Euro Falls, Pares Weekly Gain as Fitch Says Greek Haircut Would Be Default | Eurozone | Scoop.it
The euro fell against the dollar, paring its third weekly rally, as Italy sold less than its maximum target at a bond auction and Fitch Ratings said part of the plan to contain debt turmoil amounts to a Greek default.
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Italian 10 Year Bond Auction Prices At Record, Over 6%

Earlier today Italy had an extended bond auction in which it sold 3, 6, 8, and 10 year bonds. The auction did not go quite as planned.
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The Banks Have Volunteered (at Gunpoint) To Get 50% of Their Money Taken - No Credit Event???

The Banks Have Volunteered (at Gunpoint) To Get 50% of Their Money Taken - No Credit Event??? | Eurozone | Scoop.it
The Banks Have Volunteered (at Gunpoint) To Get 50% of Their Money Taken - No Credit Event???
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Euro Bailout Cracks Emerge; Greece "Just Says No" | ZeroHedge

When reporting on the announcement of the math-free deus ex machina bail out that was announced last night, which nobody still has any grasp over, but it had a "trillion" in there somewhere so that alone sent the market scurrying, we suggested that...
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EU summit: Many words but few figures as Angela Merkel takes control

EU summit: Many words but few figures as Angela Merkel takes control | Eurozone | Scoop.it
Berlusconi tries to write his way out of trouble, Sarkozy is left smarting and Cameron sounds off on the sidelines (EU summit: Many words but few figures as Angela Merkel takes control http://t.co/xdDMJplV...)...
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Greek Banks May Face Nationalization

Greece's banks face the prospect of nationalization and could spend years depending on an insolvent Greek state for life-support after European leaders agreed to a 50% write-down of Greek government debt.
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Has Angela Merkel won over Germany?

Has Angela Merkel won over Germany? | Eurozone | Scoop.it
Only weeks ago, Germans were debating her leadership abilities. But with Germany placed to dominate Europe, has Chancellor Angela Merkel won over her detractors?
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Eurozone deal: government relief mixed with anxiety

Eurozone deal: government relief mixed with anxiety | Eurozone | Scoop.it
Patrick Wintour examines the implications of the eurozone agreement for British politics – and particularly for the Tories...
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We Have A Deal!

We Have A Deal! | Eurozone | Scoop.it
We just may have a deal:EU OFFICIAL SAYS DEAL REACHED ON GREEK DEBT-CUTTING PLAN: AP'PRIVATE CREDITORS TO TAKE 50% CUT ON GREEK BONDS, AP SAYSEU official, who wished to remain anonymous, tells Bloomberg that euro-area leaders are set to approve...
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Italy Pledges Asset Sales to Reduce Debt

Italy Pledges Asset Sales to Reduce Debt | Eurozone | Scoop.it
Prime Minister Silvio Berlusconi vowed to raise 5 billion euros ($8 billion) annually from asset sales, increase the retirement age and relax labor laws to convince European leaders Italy can reach its budget goals.
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Eurozone eyes 1 trillion euro bailout

eurozone leaders mulled boosting a bailout fund to one trillion euros ($a1.34 trillion) to contain the debt crisis.
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EBA Releases Details Of €106 Billion Bank Capital Shortfall | ZeroHedge

Here are the EBA's latest stress test results, or, more specifically, the worthless exercise of how much capital European banks need to get to both 9% Tier 1 as well as to build a "temporary capital buffer against sovereign debt exposures to...
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Euro zone rates on hold as guard changes

Euro zone rates on hold as guard changes | Eurozone | Scoop.it
FRANKFURT (Reuters) - Euro zone interest rates will very likely remain on hold next week as the European Central Bank navigates the transition to new leadership, with an anti-crisis plan forged by EU leaders...
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How badly do you want EFSF first-loss protection?

The EFSF has opened the kimono a little on how it would work as a sovereign bond insurer. Answers from an updated investor Q&A — especially interesting ones have been bolded by us:...
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Calling Bankers’ Bluff, Merkel Won Europe a Debt Plan

Calling Bankers’ Bluff, Merkel Won Europe a Debt Plan | Eurozone | Scoop.it
In the end, it was Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France against the European banking establishment — and the bankers blinked.
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France to Unveil More Austerity

France may unveil a new austerity plan to shore up its public finances as early as next week, a member of the National Assembly's finance commission said, only two months after the country took emergency measures worth €12 billion to hold on to its...
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Europe's rescue euphoria threatened as Portugal enters 'Grecian vortex' - Telegraph

Monetary contraction in Portugal has intensified at an alarming pace and is mimicking the pattern seen in Greece before its economy spiralled out of control, raising concerns that the EU summit deal may soon washed over by fast-moving...
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Sarkozy Sees More Budget Cuts to Save AAA Rating

Sarkozy Sees More Budget Cuts to Save AAA Rating | Eurozone | Scoop.it
President Nicolas Sarkozy plans up to 8 billion euros ($11 billion) in additional budget cuts to protect France’s AAA credit rating, after he said growth next year will slow to about 1 percent.
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Euro Surges Past $1.42

The euro jumped to its highest level in seven weeks against the dollar, boosted by Europe's accord on Greek debt. The dollar hit a fresh record low against the yen.
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EU Forges Greek Bond Deal

EU Forges Greek Bond Deal | Eurozone | Scoop.it
European leaders working into the night secured a deal under which private investors agreed to take a 50% loss on Greek debt and the firepower of the region's bailout fund was increased.
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First Thoughts on the Eurozone Summit - Forbes

So the eurozone summit is finally over and the results are out. A few first impressions: 1.
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European Leaders Struggle for Plan

European leaders labored late into Wednesday night seeking to reach agreement on what they had once billed as a blockbuster package aimed at stemming the Continent's debt crisis.
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Collapse of euro could pose threat to peace, says Merkel

Collapse of euro could pose threat to peace, says Merkel | Eurozone | Scoop.it
Angela Merkel, the German Chancellor, warned Wednesday that failing to resolve the eurozone crisis could jeopardize the single currency and end "half a century" of peace in Europe.
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Why Euro Crisis will Continue to Unnerve the Markets - CNBC

Why Euro Crisis will Continue to Unnerve the Markets - CNBC | Eurozone | Scoop.it
As markets have been rebounding on euro hopes, the eurozone leaders have been debating a plan that should satisfy the financial markets. The hope is futile. A comprehensive plan does not exist.
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