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Νews about the accelerating economic debt crisis in EuroZone
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Greek $11B Loan Payment Likely in Early Nov.

Greek $11B Loan Payment Likely in Early Nov. | Eurozone | Scoop.it
European Union and International Monetary Fund officials indicated Greece will get an 8 billion- euro ($11 billion) loan next month under a 110 billion-euro bailout, as European leaders move to reopen talks on a new package that may mean deeper...
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Trichet Says Euro Crisis Has Reached ‘Systemic Dimension’

Trichet Says Euro Crisis Has Reached ‘Systemic Dimension’ | Eurozone | Scoop.it
European Central Bank President Jean-Claude Trichet said Europe’s debt crisis now threatens the region’s financial system as officials race to put together a new plan to end the turmoil.
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Europe bank rescue is not enough

Europe bank rescue is not enough | Eurozone | Scoop.it
German Chancellor Angela Merkel and French President Nicolas Sarkozy announce an overarching plan to strengthen European banks and resolve the eurozone debt crisis. But the details remain to be seen and investors are still skeptical.
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Brussels to take full control of Dexia's Belgian arm

Brussels to take full control of Dexia's Belgian arm | Eurozone | Scoop.it
The Belgian government will take full control of the local arm of the beleaguered Franco-Belgian bank Dexia in a bid to reassure account holders, Prime Minister Yves Leterme said on Monday. The deal is worth an estimated €4 billion.
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Trichet Reminds U.S. Euro Built to Last

Trichet Reminds U.S. Euro Built to Last | Eurozone | Scoop.it
Jean-Claude Trichet stood on a stage at Washington’s Willard Hotel, leafed through his prepared speech, and cast it aside.
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Dexia bailout set as wider bank rescue mulled

Dexia bailout set as wider bank rescue mulled | Eurozone | Scoop.it
BRUSSELS (Reuters) - Franco-Belgian bank Dexia was set to be broken up and partly nationalised after being slammed by a funding squeeze in the latest warning sign about the health of Europe's struggling...
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Merkel, Sarkozy promise new crisis package, offer no details

Merkel, Sarkozy promise new crisis package, offer no details | Eurozone | Scoop.it
BERLIN (Reuters) - The leaders of Germany and France promised Sunday to unveil a new comprehensive package for solving the euro zone's debt crisis by the end of the month, but offered no details and papered (Merkel, Sarkozy tackle differences over...
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Belgium to Nationalize Part of Dexia

The Belgian government will nationalize the Belgian subsidiary of Dexia SA after reaching a deal with France on the issue, paving the way for the troubled lender to be broken up.
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Dexia Restructuring Backed by France, Belgium

Dexia Restructuring Backed by France, Belgium | Eurozone | Scoop.it
France and Belgium reached an accord on Dexia SA as the lender’s board meets to approve the proposals, paving the way for a dismantling of the French- Belgian bank.
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Europe eyes buoying banks to weather debt storm

Europe eyes buoying banks to weather debt storm | Eurozone | Scoop.it
DUBLIN/FRANKFURT (Reuters) - European banks may need more than 100 billion euros ($135 billion) to withstand the sovereign debt crisis, Ireland estimated on Saturday ahead of a meeting between German Chancellor...
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Eurozone Bank Problems Look Affordable To Solve

Eurozone Bank Problems Look Affordable To Solve | Eurozone | Scoop.it

If this calculator is accurate, then the only way of understanding why there is so much angst in the markets is to assume that markets are pricing in a cascading series of defaults that become far worse than current market pricing of PIIGS' debt assumes. That's not impossible, of course, but once again we see that the level of fear and pessimism that is impacting market psychology is extreme, to say the least.

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European Mobility and the Euro « Commentary Magazine

One regular criticism of the Euro has long been that Euroland is made up of, as Milton Friedman put it, “different countries [with] different languages, limited mobility among them, and they’re affected differently by external events.” A recent column by Jay Cost brings home just how low that mobility actually is.

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IMF to Propose New Credit Lines

The International Monetary Fund is crafting a proposal to offer new short-term credit lines to governments to prevent the spread of global financial crises, senior IMF and finance officials say.
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Greece living in Slovakia's pocket? - RT

Greece living in Slovakia's pocket? - RT | Eurozone | Scoop.it
This is MoneyGreece living in Slovakia's pocket?RTAll eyes are today on whether Slovakia's politicians will vote positively on the European Stability fund, to aid ailing countries like Greece.
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Two Americans Win Economics Nobel

Two Americans Win Economics Nobel | Eurozone | Scoop.it
Americans Thomas Sargent and Christopher Sims won the Nobel economics prize "for their empirical research on cause and effect in the macroeconomy," the Royal Swedish Academy of Sciences said.
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Dexia bank gets massive bailout

Dexia bank gets massive bailout | Eurozone | Scoop.it
France, Belgium and Luxembourg are to bail out the troubled bank Dexia, following fears it could go bankrupt.
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Euro crisis spreads and puts the world economy at risk - The Guardian

Euro crisis spreads and puts the world economy at risk - The Guardian | Eurozone | Scoop.it

Euro crisis spreads and puts the world economy at riskThe GuardianFace to face: German chancellor Angela Merkel and Greek prime minister George Papandreou at a press conference during their talks over Greek debt last month.

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Merkel, Sarkozy hold talks amid euro crisis - CNN.com

Merkel, Sarkozy hold talks amid euro crisis - CNN.com | Eurozone | Scoop.it
French President Nicolas Sarkozy and German Chancellor Angela Merkel presented a united front Sunday in the face of regional economic woes, but offered few details about how they would solve financial problems.
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Max Bank Will Fail Under Danish Bail-In Law

The Danish government’s winding-up unit said it will probably take over regional lender Max Bank A/S, which would become the third failure this year to fall under the European Union’s toughest resolution laws.
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Spain's indignados protesters reach Brussels | Video | Reuters.com

OCT 9 - Protesters from Spain's 'Indignados' movement reach Brussels after walking across Europe to demonstrate against austerity cut backs. Travis Brecher reports.
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Merkel And Sarkozy: Eurozone Endgame "Before The Month Is Over"

Merkel And Sarkozy: Eurozone Endgame "Before The Month Is Over" | Eurozone | Scoop.it

German Chancellor Angela Merkel and French President Nicolas Sarkozy affirmed that "agreement is total" between France and Germany in a press conference from Berlin today.

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France, Belgium set to finalize Dexia break-up

France, Belgium set to finalize Dexia break-up | Eurozone | Scoop.it
BRUSSELS (Reuters) - France and Belgium were set finalize the break-up Sunday of Dexia, the first bank to fall victim to the euro zone sovereign debt crisis, with global credit risk exposure of 512 billion...
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Report: Greece must undertake deeper reforms to receive more bailout money, official says

BERLIN — A leading member of the international team assessing heavily indebted Greece’s progress says the government must undertake even deeper reforms to receive the next batch of its bailout.
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The 4 Trillion-Euro Fantasy

Some officials and former officials are taking the view that a large fund of financial support for troubled euro-zone nations could be decisive in stabilizing the situation. The headline numbers discussed are 2 trillion to 4 trillion euros — a large amount of money, given that the gross domestic product of Germany is 2.5 trillion euros and that of the entire euro zone around 9 trillion euros.

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Turkey Moves to Halt Lira's Fall

Turkey intervened strongly this week to stop an abrupt slide in its currency, even as foreign corporate investors bet on the economy as a bright spot amid the global doldrums.
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