Tag Archives: Economic Contagion

European Union in peril without reform, warns David Cameron

The European Union is in “peril” unless leaders grasp the “opportunity” presented by the single currency crisis to reform the institution, David Cameron has warned. ********** Read more here: http://www.telegraph.co.uk/news/politics/david-cameron/8890193/EU-debt-crisis-European-Union-in-peril-without-reform-warns-David-Cameron.html

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Vince Cable: Eurozone could unleash armageddon

EUROPE’S debt crisis could unleash economic “armageddon” which will collapse UK banks, Business Secretary Vince Cable warned yesterday. His apocalyptic prediction came as David Cameron told fellow European leaders that time is running out to save the euro. EU chiefs … Continue reading

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New recession threatens the globe as debt crisis grows

Professor Simon Johnson, a former chief economist at the IMF, rattled nerves earlier this week by warning the world is “looking straight into the face of a great depression”. … The IMF said loans have doubled to almost 200pc of … Continue reading

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Europe Banks Selling Sovereign Bonds May Worsen Debt Crisis

Banks are selling debt of southern European nations as investors punish companies with large holdings and regulators demand higher reserves to shoulder possible losses. The European Banking Authority is requiring lenders to boost capital by 106 billion euros after marking … Continue reading

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Italy slashing budget to fend off debt crisis

Battered by rising borrowing costs and under the eye of other European governments, Italy’s Senate on Thursday upped the size of planned budget cuts in an effort to prevent the euro zone’s third-largest economy from slipping into the debt crisis … Continue reading

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Deficits and the Demographic Crisis

The bigger beast that threatens Europe’s solvency is the demographic and entitlements crisis. While a lot is known about Europe’s aging population, the scale of the problem and its urgency are not well understood. … To get a sense of … Continue reading

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Greek debt crisis prompts EU ‘resolution’ talks

EU officials and bankers to discuss ways of resolving Greece’s financial crisis including proposal for debt write off. ********** The rest of the article is here: http://www.guardian.co.uk/business/2011/jun/27/greek-debt-crisis-eu-talks

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Spain, Italy suffer most from Greek debt crisis: Madrid

Spain and Italy are taking the hardest hit from Greece’s sovereign debt crisis but Madrid will not need a bailout, Spanish Finance Minister Elena Salgado said Monday. The risk premium charged on Spanish bonds compared with safer-bet German securities “is … Continue reading

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Investors’ New Worry: Is There Greek Debt in My Money Fund?

Last week, lawmakers and regulators registered concerns about money-market funds’ exposure to the European debt crisis. About half of the assets in the 10 largest U.S. prime money-market funds are invested in European bank debt, according to a report from … Continue reading

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