News

Politics In 60 Seconds: What You Need To Know Right Now

[credit provider=”Getty Images”] Good morning!  Here’s what you need to know:1.  After weeks of wrangling, negotiations on a possible budget agreement that would slash federal spending by as much as $33 billion appeared to be back on track. “We’re all working off the same number now,” Vice President Biden told […]
Politics In 60 Seconds:  What You Need To Know Right Now
News

Brazil-Portugal Merger?

FT Associate Editor Edward Hadas posted a short note the other day that sent his Portuguese readers into spasms of rage. 
Brazil-Portugal Merger?
Markets

Jürgen Stark Explains Why Massive Unemployment In Spain Is Not The ECB’s Problem

[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:JuergenStark01.jpg”] ECB chief Jürgen Stark has denied the bank is ignoring the problems of the region’s weakest states in an editorial in the FT.His comments are in direct opposition to those who believe the ECB should be keeping rates low to protect the eurozone countries still struggling […]
Jürgen Stark Explains Why Massive Unemployment In Spain Is Not The ECB’s Problem
Markets

New Irish Leadership Uses The “H-Word” In Threat To France And Germany

[credit provider=”thejournal.ie” url=”http://www.thejournal.ie/blow-by-blow-how-each-party-fared-in-election-2011-2011-02/”] Ireland has threatened senior bondholders of Irish bank debt in the latest government negotiating ploy with the Eurozone’s leaders.The threat, to force some bondholders in Ireland’s banks to take a haircut as part of a restructuring, may be a negotiating tactic to get eurozone leaders to agree […]
New Irish Leadership Uses The “H-Word” In Threat To France And Germany
Markets

Get Ready, Ireland’s Banks Are Going To Need Another $39 Billion

[credit provider=”James Jordan on flickr” url=”http://www.flickr.com/photos/jamesjordan/3899011090/in/photostream/”] Ireland banks are in need of another €27.5 billion ($39 billion), and may need it as soon as two weeks next week, according to a Bloomberg survey.If the government were to supply that much cash to Ireland’s banking sector, that would mean that 80% […]
Get Ready, Ireland’s Banks Are Going To Need Another $39 Billion
News

EU Sets Out To Crush Ireland

[credit provider=”AP”] This being St. Patrick’s Day, Ireland’s fate is on the minds of many Americans.  At a recent meeting of EU leaders in Brussels, German Chancellor Angela Merkel (in concert with French President Nicolas Sarkozy) laid down an impossibly difficult term sheet for Ireland to sign or suffer the […]
EU Sets Out To Crush Ireland
News

Politics In 60 Seconds: What You Need To Know Right Now

Good morning!  Here’s what you need to know right now:1.  The NYT reports: “As the scale of Japan’s nuclear crisis begins to come to light, experts in Japan and the United States say the country is now facing a cascade of accumulating problems that suggest that radioactive releases of steam […]
Politics In 60 Seconds:  What You Need To Know Right Now
Markets

The World’s Banks Face $2.5 Trillion In Exposures To Europe’s Fringe

[credit provider=”ap”] The world’s banks have exposures of $2.5 trillion to Portugal, Ireland, Greece, and Spain, according to the latest report from the Bank for International Settlements (via Ambrose Evans-Pritchard).Those exposures include everything, from derivatives, to other credit products, to more typical investments.
The World’s Banks Face $2.5 Trillion In Exposures To Europe’s Fringe
News

Weekend Reading: A More European flavour

If it’s Friday, it’s time for Weekend Reading, a regular feature for Business Insider readers who find themselves looking for a wider view of what is happening in the news. 
Weekend Reading:  A More European flavour
Markets

Get Ready For Friday’s Huge Euro Area Summit

[credit provider=”AP”] Tomorrow’s big meeting of eurozone leaders marks the beginning of 14 days of negotiation that need to come to some sort of grand conclusion for the future of the region at the March 24-25 EU summit.It’s essentially a conflict between Germany’s Chancellor Angela Merkel and everyone else. Merkel […]
Get Ready For Friday’s Huge Euro Area Summit
News

Angela Merkel Holds The Fate of Europe In Her Hands

As if you didn’t have enough to worry about, tomorrow brings a meeting in Brussels of the leaders of the European Union.  They’ll be gathering to discuss Angela Merkel’s grand bargain: succinctly described by The Economist magazine as follows: “in exchange for boosting the euro’s defences, she wants tighter economic […]
Angela Merkel Holds The Fate of Europe In Her Hands
News

Sarkozy Running THIRD In French Polling

When the Harris Interactive poll of a hypothetical French presidential  “primary” election was published, the reaction among insiders was: the books were cooked. 
Sarkozy Running THIRD In French Polling
Markets

Spanish Town Reverts Back To The Peseta!

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:2000pesetas.JPG”] The Spanish town of Mugardos has started to accept pesetas again in a bid to revive the region’s economy, according to the BBC.This isn’t a full blown currency switch, however, with shops accepting both the euro and the peseta.
Spanish Town Reverts Back To The Peseta!
Markets

ERNST & YOUNG: If Oil Rises To $150, At Least One Eurozone Country Will Default

[credit provider=”Alliance Oil” url=”http://www.allianceoilco.com/images/imagearchive/lowres/well125v2.jpg”] If the price of Brent crude oil surges to $150 a barrel, one eurozone country will default and the whole region will fall into recession, according to Marie Diron of Ernst and Young (via Ambrose Evans-Pritchard).The result of this rise would be particularly bad for Ireland, […]
ERNST & YOUNG: If Oil Rises To $150, At Least One Eurozone Country Will Default
News

POLITICS IN 60 SECONDS: What You Need To Know Right Now

[credit provider=”desrunyan via flickr” url=”http://www.flickr.com/photos/blackwatersailing/3456958344/”] Good Morning!  Here’s what you need to know:1.  Stratfor reports:  “A Shiite cleric was arrested in Saudi Arabia’s oil-rich Eastern Province on Feb. 27 after calling for a constitutional monarchy during a Friday sermon.  The arrest…could end up sparking protests among the kingdom’s Shiite minority […]
POLITICS IN 60 SECONDS: What You Need To Know Right Now
News

Irish Hopes Of Debt Relief Probably Doomed

The Financial Times reports that “sentiment in some European capitals has turned against renegotiating Dublin’s €85bn bail-out package, casting into doubt the incoming Irish government’s push to ease the repayment terms.” 
Irish Hopes Of Debt Relief Probably Doomed
News

The Right Rises In France

Her father, Jean-Marie Le Pen, was the leader of the far right-wing National Front, but he was unable to forge a national coalition in France.  So he never won a national election. 
The Right Rises In France
News

Politics in 60 Seconds: What You Need To Know Right Now

[credit provider=”Wikipedia”] 1.  National, state and local debt in the United States will exceed the debt levels reached just after World War II.  The combined debt presently exceeds the size of the entire economy, according to government estimates.
Politics in 60 Seconds:  What You Need To Know Right Now
News

Politics in 60 Seconds: What You Need to Know Right Now

[credit provider=”AP”] 1.  The New York Stock Exchange is close to an agreement to be acquired by Deutsche Borse AG, a “merger” that would create the world’s largest financial exchange.  The sale of the NYSE to the Germans will become a political issue.2.  German Bundesbank President Axel Weber has withdrawn […]
Politics in 60 Seconds: What You Need to Know Right Now
News

Germany Will Decide The Future of Ireland

There’s a sideshow going on in Ireland.  As Bloomberg reports: “Gerry Adams, president of Irish nationalist party Sinn Fein, is selling a clear message ahead of Ireland´s election this month: burn the bank bondholders and send the International Monetary Fund home. His stance appears to be winning voters, at least […]
Germany Will Decide The Future of Ireland
Markets

Stagflation Headed For Ireland As Eurozone Inflation Rises And Dublin Downgrades Growth Estimates

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Lightmatter_ireland.jpg”] Eurozone inflation surged past expectations to a CPI of 2.4%, year-over-year, in January. While this isn’t too far beyond the ECB’s target rate of 2.0%, it’s certain to give ECB President Jean-Claude Trichet further inclination to continue his hawkish talk on the matter.The eurozone’s core probably […]
Stagflation Headed For Ireland As Eurozone Inflation Rises And Dublin Downgrades Growth Estimates
Markets

Why Spain May Still Need To Tap The EFSF To Bail Out Its Banking System

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:La_Tomatina_%2825.08.2010%29_-_Spain,_Bu%C3%B1ol_03.jpg”] Spain may need to tap the European Financial Stability Facility (EFSF) in order to bailout its troubled regional banks, or cajas, according to Barclays Capital Chief European Economist Julian Callow, who was speaking at the Bloomberg European Debt Crisis conference.The reason why, according to Callow, is […]
Why Spain May Still Need To Tap The EFSF To Bail Out Its Banking System
Markets

Euro Group President “Angry” With Germany, Says Some Leaders Are “Gambling” With Policy

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Flickr_-_europeanpeoplesparty_-_EPP_Summit_%2827%29.jpg”] Jean-Claude Juncker, president of the Euro group and prime minister of Luxembourg, says he’s “angry” with some Germany leaders who are “gambling” with policy decisions that may impact their legacy, according to Der Spiegel.The comments follow a week in which European financial leadership again failed to […]
Euro Group President “Angry” With Germany, Says Some Leaders Are “Gambling” With Policy
Markets

Euro Debt Crisis Metastasizes, As Polish Yields Spike To 6.18%

Portugal is the recent flashpoint, but Spain and Belgium are on deck. Note too that sovereign spreads in Ireland and Greece are at record highs in spite of the alleged bailouts. In response to the clearly not-contained crisis, Germany is considering expanding the bailout fund from 750 billion-euro ($966 billion) […]
Euro Debt Crisis Metastasizes, As Polish Yields Spike To 6.18%
Markets

Japan Promises To Make A Big Contribution To The Irish Bailout

[credit provider=”Ivan Walsh via Flickr” url=”http://www.flickr.com/photos/ivanwalsh/4616756073/”] The world is coming together to backstop the euro, with Japan the latest major country pledging economic support for the monetary union.Bloomberg reports Japan will buy 20% of the debt associated with the bailout of Ireland.
Japan Promises To Make A Big Contribution To The Irish Bailout
Markets

The French Go On The Offensive, And Push For A New European Treasury

[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:Jacques-Louis_David_007.jpg”] A new proposal has emerged for a combined European Treasury, first built on German and French cooperation, eventually expanding to the rest of the eurozone (via CNBC).While the idea has been proposed by Constance Le Grip and Henri Plagnol, two French and European parliamentarians, French President […]
The French Go On The Offensive, And Push For A New European Treasury
Markets

Why This Morning’s Surprising Eurozone Inflation Number Could Make The PIIGS Squeal

[credit provider=”Alan Levine via Flickr” url=”http://www.flickr.com/photos/cogdog/4461665810/”] The European Central Bank is about to be faced with a decision it only knows one way of answering.Today, data from Eurostat showed that inflation has accelerated in the eurozone by 2.2% year-over-year in December. This is the fastest rate of inflation growth in […]
Why This Morning’s Surprising Eurozone Inflation Number Could Make The PIIGS Squeal
Markets

SocGen’s 6 Huge Macro Themes For 2011

[credit provider=”Flickr” url=”http://www.flickr.com/photos/weirdcolor/3332575399/in/photostream/”] Societe Generale see 2011 full of risks, but mainly from 6 sources. The concern is that anyone of these issues could derail the global rally, and turn the equity boom around.Europe continues to dominate, with both political and economic concerns threatening developed markets. The U.S. too is […]
SocGen’s 6 Huge Macro Themes For 2011
Markets

George Soros Presents His Solution To The Eurozone Crisis

[credit provider=”Wikimedia Commons” url=”http://en.wikipedia.org/wiki/File:George_Soros_-_World_Economic_Forum_Annual_Meeting_Davos_2010.jpg”] George Soros throws cold water on Europe’s latest stabilisation efforts in a brand new piece on Project Syndicate.The eurobond, rejected by German Chancellor Merkel, is the key solution says Soros. The goal of this bond is to save the zone’s fringe from having to pay unusually […]
George Soros Presents His Solution To The Eurozone Crisis
Markets

European Leaders Want Debt Crisis Delayed Until 2013 But It’s Already Here

Pretty speeches regarding solidarity will not solve the European debt crisis. Yet, as Greece smolders in riots and firebombs over various austerity measures, pretty speeches, untenable pledges regarding haircuts, and continual bickering remain the only action items of note coming from Europe. smouldering Politics Greece is not the only thing […]
European Leaders Want Debt Crisis Delayed Until 2013 But It’s Already Here
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