Euro zone Debt Crisis News Today: Must Read!

Tue, July 24, 2012 08:26 PM 
Eurozone economic news on Tuesday.
Compiled from m.guardian.co.uk...

BERLIN: The eurozone debt crisis took a fresh turn for the worse after Moody's threatened to cut Germany's coveted top credit rating amid fears the bloc's difficulties could tear it apart.

MADRID: Spain's borrowing costs rose, heaping pressure on the government to seek outside help amid growing doubts that it can cover its debt without an international bailout.

LONDON: Debt-laden Catalonia, the second biggest Spanish region, will ask the federal government for funds, the region's finance minister told BBC radio.

BRUSSELS: Eurozone private sector activity contracted for the 10th time in 11 months in July, sending the rate of job losses to their highest in two-and-a-half years, a key survey showed.

BRUSSELS: European Commission president Jose Manuel Barroso will travel to Greece to discuss the economic situation there with Prime Minister Antonis Samaras, a commission spokesman said.

Originally posted by chemistry

Tue, July 24, 2012 08:26 PM

.....

BRUSSELS: European Commission president Jose Manuel Barroso will travel to Greece to discuss the economic situation there with Prime Minister Antonis Samaras, a commission spokesman said.

edit on 24-7-2012 by chemistry because: Clarity

OK, they have all these money problems but the EU commisioner has to travel to Greece to talk? Have these idiots not heard of that invention called the phone? I mean seriously, save some money, less politicial pork, less problems. The EU commie doesn't need another vacation with his enterage.

Cheers - Dave

When the debt collector from da mob comes calling, its to break arms and legs....you have to do that in person.....Now they have a president, this guy has to go give him his script and his direct orders....which could not be overheard in person and no records will ever exist of the conversation....get it?

Spain is the next Greek tragedy. Spanish bond prices are going through the roof and it is clear that Spain can not afford to borrow more..

The Greeks are getting ready to default on their current bailout agreement...

the Euro is lost and shortly after the US dollar....

What we'll give them credit for up front is their terrific human generosity. Unlike a number of increasingly inexplicable websites, these scribes are not willing to focus on the totality of a particular ethnic group to make their points.

Though there are constant efforts to argue the case, whole groups of people are NOT responsible for the actions of a few.

I wonder what the chain of events proceeding from an Olympic false flag would do to this situation.

Yes, it is pretty much over for Spain.

Catalunia have an economy that is BIGGER that Portugal one...and they ask for money.

Tomorrow will be an interesting day.If the euro drops tomorrow or thursday under 1.20 vs US $, and can't find support at 1.15-1.17...Europe is pretty much done.

Spain will be the next Greece...yes, but only from a bailout point of view.

Spain will NOT be like Greece when the spaniards will go beserk.

Thank you to everyone who has taken the time to post so far.

I usually don't get scared quickly, but I have to tell you this; I really am worried about the Euro problem!

Are we descending into a disaster very quickly? Look at what could happen in the next few weeks:

1. Syria will probably be brought into civil war
2. The entire Eurozone will probably collapse
3. There is a chance that a terrorist attack will happen at the Olympics

reply to post by chemistry


I think we are descending into chaos very quickly now, and approaching a point where the various factors converge.

Greece, and now Spain... both countries are potentially strategic geographically- the Mediterranean. I don't know how this will play out, or how much events may be guided, but I just keep looking at that map.

The problem is that some of the euro zone countries have got such large deficits they need to inflate their way out of the debt ( by debasing the currency so that the debt is worth less ) , and they were able to do that when the country itself controlled the printing presses , but with a common fiat currency , that is no longer possible. Of course, the long term solution is a return to gold or silver

There’s far too much uncertainty around to be positive about markets – indeed, the risks are to the downside. Germany/Mrs Merkel has turned cautious, which is certainly a major negative as far as I’m concerned. The only player that has the flexibility to act, the ECB, sees the problem (rightly) as a political/policy issue, but if the situation deteriorates further (quite likely) will be forced to act, I suspect.

Interestingly, the DAX has held up well, but the peripherals (Spain and Italy) are materially lower. German bund yields have risen following the Moody’s downgrade.

Originally posted by stirling
When the debt collector from da mob comes calling, its to break arms and legs....you have to do that in person.....Now they have a president, this guy has to go give him his script and his direct orders....which could not be overheard in person and no records will ever exist of the conversation....get it?

LOL, I realize da mob is da mob, but it seems to me that there are laser mics available (I have one) and other toys (which we won't get into) that render even most soundproof rooms as leaky as a spaghetti strainer ;-) A highly encrypted voice system might be a little safer and a lot less expensive. But as you know if there wasn't so much obfuscation and a little more transparency, none of this would be needed.

One thing that has always puzzled me is why is it politicians and bankers enjoy being hated so much that they have to use our money to protect themselves from us? It's s strange world eh ;-)

Cheers - Dave

reply to post by bobs_uruncle
Wouldn't it be fun if all the world's notable tyrants, bankers, royalty and such had GPS moniters and we could track their whereabouts on a map when all these pending crisis all come together.

Originally posted by chemistry
BERLIN: The eurozone debt crisis took a fresh turn for the worse after Moody's threatened to cut Germany's coveted top credit rating amid fears the bloc's difficulties could tear it apart.

So what Moody's (just hearing the name of that company gives me diarrhea) is saying that, if the German economy gets worse, they will downgrade Germany and thus worsen the economy even more?

Originally posted by Happy1
reply to post by bobs_uruncle

 

Wouldn't it be fun if all the world's notable tyrants, bankers, royalty and such had GPS moniters and we could track their whereabouts on a map when all these pending crisis all come together.

Wouldn't it be nice if instead of getting a hunting license for deer or bear you could get a hunting license for something that made real sense? I am not saying deer or bear hunting is not interesting and a challenge, but they do nothing that hurts this planet, people or any other species. I'd rather hunt the real "terrorists," both foreign and domestic.

Cheers - Dave