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Eurozone
Νews about the accelerating economic debt crisis in EuroZone
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Germany, France split on bank aid before summit

Germany, France split on bank aid before summit | Eurozone | Scoop.it
BERLIN/PARIS (Reuters) - Germany and France were split ahead of crucial talks on Sunday over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek...
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Merkel spells out how to bolster European banks - Associated Press

BERLIN (AP) — German Chancellor Angela Merkel said Europe's banks should look first to raise money in the private sector before turning to governments to bolster their financial cushions against potential losses from the continent's sovereign debt...
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Moody's Puts Belgium Aa1 Rating Under Downgrade Review, CDS To Surge | ZeroHedge

To all those who bought Belgium CDS as per our compression trade suggested earlier today, congratulations.
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Spain’s Credit Rating Cut Two Levels

Spain’s Credit Rating Cut Two Levels | Eurozone | Scoop.it
Spain had its credit rating cut two levels by Fitch Ratings, which cited the “intensification” of the euro crisis, slower Spanish growth and regional finances as risks to the nation’s debt outlook.
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Moody's cuts credit ratings on UK banks RBS and Lloyds

Moody's cuts credit ratings on UK banks RBS and Lloyds | Eurozone | Scoop.it
LONDON (Reuters) - Credit rating agency Moody's downgraded Britain's part-nationalized banks Lloyds and Royal Bank of Scotland on Friday, although Britain's finance minister said UK banks were well-placed...
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‘European Central Bank puts last nails in its coffin’ — RT

‘European Central Bank puts last nails in its coffin’ — RT | Eurozone | Scoop.it
The European Central Bank will provide shaky banks with $53 billion to prop them up against potential Greek fallout, ECB president Jean-Claude Trichet has announced. But the move will topple the whole EU financial system, an expert believes.
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Containing the Eurozone Crisis - Council on Foreign Relations

Containing the Eurozone Crisis - Council on Foreign Relations | Eurozone | Scoop.it
As Greece inches closer to defaulting on its pile of sovereign debt, European leaders must move quickly to recapitalize the continent's exposed banking sector, says EU economics expert Jacob Funk Kirkegaard.
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Portugal Must Do More to Curb Deficit, Central Bank Warns

The Portuguese central bank warned Thursday that the government will have to take significant additional measures to meet the budget targets mandated by the terms of its international bailout.
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Europe's Economic Crisis Is Not a Euro Crisis - Forbes.com

What should be a simple debt-workout matter is in danger of spinning into a genuine catastrophe.
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Goldman predicts a fire sale of USD assets by French banks

There were a few cheeky titbits in an otherwise workmanlike Goldman Sachs note published Wednesday on US banks.First up for a teasing: French banks. As we know, US banks are...
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Eurozone moves to bolster banks

Eurozone moves to bolster banks | Eurozone | Scoop.it
The European Central Bank offers new emergency loans to banks, but holds interest rates because of inflation risks.
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Merkel ally says banks may need bigger Greek writedown

Merkel ally says banks may need bigger Greek writedown

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Explaining the ECB’s latest program

The ECB announced yesterday that it's going to be throwing a bunch more cash at European banks.
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Fitch cuts Italy, Spain ratings over euro crisis

Fitch cuts Italy, Spain ratings over euro crisis | Eurozone | Scoop.it

ROME — Fitch cut its credit ratings on Italy and Spain Friday, citing the increasing pressure on them as the eurozone debt crisis makes efforts to stabilise their public finances even more difficult.

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Despair and resignation in Greece as more pain looms

Despair and resignation in Greece as more pain looms | Eurozone | Scoop.it
ATHENS (Reuters) - The slogans on the street are about storming the barricades, but when you talk to Greeks about the financial crisis that has brought their country to its knees, their anger quickly gives...
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Merkel-Sarkozy Divided on Default Threat to Banks

Stay up to date on the latest business news, stock market data and financial trends. Get personal finance advice from leading experts.
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Merkel meets with Juncker in Berlin

German Chancellor Angela Merkel is meeting with Eurogroup Chairman Jean-Claude Juncker amid mounting concerns that Europe's debt crisis is hurting banks and causing an economic slowdown.
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Merkel-Sarkozy Divided on Default Threat to Banks: Euro Credit

Angela Merkel and Nicolas Sarkozy are running out of road.
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Greece bailout talks not ended yet: troika official

ATHENS (Reuters) - Greece said on Thursday it concluded talks with the IMF on a vital tranche of aid...
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Europe May Consider New Bank Stress Tests

The European Banking Authority said Thursday it can't rule out launching a new round of stress tests on Europe's banks, but denied having already done so.
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Italy Hits the Iceberg - By Maurizio Molinari

Italy Hits the Iceberg - By Maurizio Molinari | Eurozone | Scoop.it

Perhaps it was already too late for Italy to avoid the financial downgrade that credit-rating agency Moody's threatened at the beginning of this summer. It's not as if people didn't see it coming. Italy's economy has been battered by rising debt and worsening credit spreads. A default or bailout is every European central banker's nightmare scenario -- it's the economy "too big to save."

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The Ticking Euro Bomb: How a Good Idea Became a Tragedy - SPIEGEL ONLINE - News - International

The Ticking Euro Bomb: How a Good Idea Became a Tragedy - SPIEGEL ONLINE - News - International | Eurozone | Scoop.it
The Greek crisis has revealed why the euro is the world's most dangerous currency. The euro was built on a foundation of debt and trickery, where economic principles were sacrificed to romantic political visions.
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EU works on bank capital, Geithner sees crisis risk

EU works on bank capital, Geithner sees crisis risk | Eurozone | Scoop.it
BRUSSELS/BERLIN (Reuters) - European Union moves to shore up ailing banks moved into higher gear on Thursday and U.S.
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German Factory Orders Unexpectedly Fall

German factory orders unexpectedly fell for a second month in August as domestic demand waned.
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