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Νews about the accelerating economic debt crisis in EuroZone
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Ireland Tells Merkel, Sarkozy to Fix Their Banks: Euro Credit

Ireland Tells Merkel, Sarkozy to Fix Their Banks: Euro Credit | Eurozone | Scoop.it
(See EXT4 for more on the sovereign debt crisis.) Oct. 13 (Bloomberg) -- Ireland Prime Minister Enda Kenny has a word of warning for Germany and France as Europe's sovereign debt crisis spreads to the region's banks:...
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Standard & Poor's downgrades Spain

Standard & Poor's downgrades Spain | Eurozone | Scoop.it
Standard & Poor's downgraded Spain's credit rating Friday, blaming economic malaise and dim prospects.
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German Bankers Raise Alarm at EU Proposals

German bankers railed against European Union proposals that would force the Continent's banks to raise capital and further write down the value of Greek debt on their books, arguing that the moves themselves could force the sort of financial crisis...
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Spain Credit Rating Cut by S&P on Weak Outlook

Spain Credit Rating Cut by S&P on Weak Outlook | Eurozone | Scoop.it
Spain had its credit rating cut one level by Standard & Poor’s as rising defaults threaten efforts to stem Europe's sovereign-debt crisis and limit risks for the region's banks.
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Greece Budget Deficit Widens 15%

Greece's budget deficit for the first nine months of the year widened 15.1% from a year earlier to €19.1 billion ($26.05 billion), the Finance Ministry said Wednesday.
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Slovakia clears way for euro zone rescue fund

Slovakia clears way for euro zone rescue fund | Eurozone | Scoop.it
BRATISLAVA/BRUSSELS (Reuters) - Slovakia finally ratified new powers for the euro zone's rescue fund on Thursday, the last country to do so, clearing the way for a bolder effort to arrest Europe's sovereign...
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EU debt crisis not just a eurozone issue: Sweden's Borg

EU debt crisis not just a eurozone issue: Sweden's Borg | Eurozone | Scoop.it
The current debt crisis is a concern for all of Europe, not just to
eurozone countries, Swedish Finance Minister Anders Borg said in an
interview, highlighting the vulnerability of banks and exports in Sweden
as an example.
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Euro Zone Death Trip by PAUL KRUGMAN

Euro Zone Death Trip by PAUL KRUGMAN | Eurozone | Scoop.it
There is a frightening gap between what the euro needs to survive and what the policy elites are willing to do.
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Barroso calls for immediate action on debt crisis

Barroso calls for immediate action on debt crisis | Eurozone | Scoop.it
European Commission president Jose Manuel Barroso announced a five-point plan Wednesday to address Europe's sovereign debt problems, saying policymakers need to act immediately to resolve the long running crisis.
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Update: Schaeuble: Might Need Larger PSI In Rescue Of Greece

--“If the Greek debt level is not sustainable in the long run, and a
lot speaks for that it is not, then it has to be reduced,” Schaeuble
said in a speech at an event organized by his center-right Christian
Democratic Union here....
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Spanish Banks Hit By Rating Cuts

Spain suffered another blow when Standard & Poor's and Fitch Ratings downgraded the country's leading banks, citing dimming economic growth prospects, a depressed property market and turbulence in capital markets.
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Hungary's IMF Need May Hinge on Euro Crisis, Jarai Tells TV2

Hungary's IMF Need May Hinge on Euro Crisis, Jarai Tells TV2BloombergThe outcome of the euro crisis may determine whether Hungary will need to resort to another International Monetary Fund loan, said Zsigmond Jarai, a former central bank president...
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Slovakia Rejects Expanded Eurozone Bailout Fund

Slovakia Rejects Expanded Eurozone Bailout Fund | Eurozone | Scoop.it
The measure failed to pass by 21 votes. Slovakia remains the only country in the 17-member eurozone that has not approved expanding the bailout fund, which would require unanimous support to go into effect.
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EU May Impose Limits on High-Frequency Trading

EU May Impose Limits on High-Frequency Trading | Eurozone | Scoop.it
The European Union may impose position limits for commodities derivatives and curbs on high- frequency trading as part of plans to overhaul the region’s financial-market rules.
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Analysis - Greek debt enters Argentina-style twilight zone

Analysis - Greek debt enters Argentina-style twilight zone | Eurozone | Scoop.it
LONDON (Reuters) - The prospect of a hefty Greek government debt restructuring and writeoff has sent the bonds into a twilight zone that's attracting specialist distressed-debt traders more used to dealing...
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Fitch: More Than a Dozen Banks May Get Rate Cut

Fitch: More Than a Dozen Banks May Get Rate Cut | Eurozone | Scoop.it
UBS AG, Lloyds Banking Group Plc and Royal Bank of Scotland Group Plc had long-term issuer default grades cut by Fitch Ratings, which put more than a dozen other lenders on watch negative as part of a global review.
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The Obama administration’s biggest macroeconomic mistake

The Obama administration’s biggest macroeconomic mistake | Eurozone | Scoop.it
I'm late to Ezra Klein's big article about whether the Obama administration could have avoided our current economic woes, because I was having dinner last night with the head of the Bureau of Economic Analysis, and I wanted to see what he had to...
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Europe Seeks Bailout Firepower

A French official said that allowing the euro-zone rescue fund to provide insurance on bonds issued by countries that cannot tap markets is one option being considered to bolster the vehicle's firepower.
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Juncker lists 10 steps to stem euro zone crisis

Juncker lists 10 steps to stem euro zone crisis | Eurozone | Scoop.it
FRANKFURT (Reuters) - Eurogroup Chairman Jean-Claude Juncker has proposed ten steps for solving the euro zone crisis including automatic sanctions for fiscally irresponsible governments, greater authority...
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UK rating downgrade 'unavoidable' - Telegraph

UK rating downgrade 'unavoidable'  - Telegraph | Eurozone | Scoop.it
A downgrade of Britain's top notch credit rating is potentially unavoidable
because the country can not grow out of its debts, a leading asset manager
has claimed.
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EU wants big banks to boost capital as stakes raised in fight against debt crisis

EU wants big banks to boost capital as stakes raised in fight against debt crisis | Eurozone | Scoop.it
BRUSSELS — The European Union hopes to push its member states to take firmer action on the debt crisis when it presents Wednesday a broad new plan to fight market turmoil, from strengthening weak banks to lowering Greece’s debt burden.
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IMF prepares for worst

IMF prepares for worst | Eurozone | Scoop.it
Leadership NewspapersIMF prepares for worstFin24Washington - Facing the prospect of a deeper crisis in Europe, the International Monetary Fund (IMF) is weighing whether it could expand its rescue lending capacity through debt issuance or bilateral...
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U.K. Unemployment Jumps to Highest in 15 Years

The U.K. unemployment rate rose to the highest in 15 years in the three months through August, adding pressure on the government to loosen its fiscal squeeze as the economy struggles to avoid recession.
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Berlusconi's Grip on Power In Doubt

Berlusconi's Grip on Power In Doubt | Eurozone | Scoop.it
Italian President Giorgio Napolitano issued a sharp statement asking whether Prime Minister Silvio Berlusconi's government is "able to operate."...
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Slovaks Reject Expansion of Bailout Fund

Slovaks Reject  Expansion of Bailout Fund | Eurozone | Scoop.it
Slovakia's government lost a confidence vote on a crucial expansion of the euro zone's bailout fund, but lawmakers will try to secure approval in a second round of voting.
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