The India Times – Barack Obama Calls Spanish Premier About Eurozone Crisis – 7 August 2012

MADRID: Spanish Prime Minister Mairano Rajoy spoke with US President Barack Obama on Monday in a telephone call regarding the eurozone crisis and the financial markets, their offices said.

Obama called Rajoy for a half-hour chat in which they “addressed the economic situation in Spain, in the European Union, and in the world,” according to a statement issued by the Spanish premier’s office.

They also discussed the situation on the financial markets, where nervous investors have driven up Spain’s borrowing costs to unsustainable levels over the long term, complicating the country’s ability to finance its debt.

Read more at:  http://www.timesofindia.indiatimes.com link to original article

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John Ward – 3rd Greek Baillout : Slog Prediction Vindicated in MSM – 19 June 2012

‘Debt crisis: Greek government will be forced to seek third bail-out’ (Daily Telegraph, 19.6.12)

‘Forget the Greek election for a while, and focus instead on what will be a far more significant event: full Greek default, bailout or not, unless more bailout monies are poured in, and pretty damn quick. Both Berlin and Washington know for sure this is coming.’ (The Slog, 17.6.12)

Plummeting tax receipts, crashing export sales and falling tourism figures mean the Hellenic Republic is already miles behind the commitments it has already made to the Troika. Add this to the spiralling Spanish tornado, and Italy yields spiking above 6%….

John Ward – Action…Spanish Bailout “Imminent…Unavoidable” – Words : “The G20 Wishes To Express Its Alarm About The Eurozone Crisis” – 19 June 2012

(Opening statement)

“We can see that the markets are not convinced. We must draw up a definitive and clear road map with concrete actions that make the euro more credible.” (Mario Monti)

Mish/ Mike Shedlock – G20 Summit In Flames Already As EC President Blames US For Financial Crisis In Europes – 19 June 2012

The G-20 summit is off to a great start if you like fireworks, endless bickering, and finger-pointing. Otherwise these summits are totally useless.

When asked by a Canadian journalist “Why should North Americans risk their assets to help Europe?” EC President José Barroso replied “Frankly, we are not here to receive lessons in terms of democracy or in terms of how to handle the economy.

John Ward – Greek Election : The Fate Of The Euro Is NOT In Greece’s Hands – 17 June 2012

The eurozone is doomed whatever happens in Athens

‘Greeks went to the polls on Sunday in an election that could decide whether their heavily indebted country remains in the euro zone or heads for the exit,’ opined Reuters this morning. I do wish the MSM (especially in the States) would stop writing half-baked bollocks about the Greek elections. If Greece leaves the euro next week following today’s election, it will be because other forces want it out, not because the Greeks themselves want to leave.

Lucas – More Crisis EU/ Euro zone – 4 June 2012

In the growing crisis in the Euro zone and EU the news follows quickly.

The Spanish Bankia  system bank crisis grows and the capital flight over the borders  is catapulting out of orbit. The Portuguese banks getting financial support from the state. Cyprus is needing help to keep their leading banks alive as the Greek economy is effecting also this Island that is already divided. Euro Group rumour talks about a possible in stating fiscal and banking union as the next step they want to take to centralize control in the European Union and Euro zone . Also rumour and talks about a Euro zone split in a sort of North and South zone is on the table.  Still the Euro is failing to keep its ground as it falls to 1.24 against the US dollar. 

Mish/ Mike Shedlock – Spain’s Prime Minister Begs For European Fiscal Nannyzone And Banking Union; Obama Seeks End To “Crisis Cloud”; Merkel Immediately Rejects Proposal; Cloud? What Cloud? – 2 June 2012

On Saturday, Spain’s prime minister Mariano Rajoy Asked For a Eurozone Fiscal Authority, in effect the “Fiscal Nannyzone” that I have spoken about on numerous occasions.

Spain on Saturday proposed the set up a new fiscal authority in the euro zone which would control and harmonize national budgets and manage the European debts.

John Ward – Eurozone Unravelling : Blue Skies In The Media, Rain Heading For Spain – 22 March 2012

‘U.S. money-market funds sharply increased the amount of euro-zone bank debt they held last month, according to Fitch Ratings, a sign they believe the worst of the debt troubles are over.’ (WSJ)

‘The European Central Bank is falling behind on a €40bn asset purchase programme launched at the height of eurozone crisis, in a sign it could be dropped as a first step towards unwinding huge emergency support for the region’s financial system.’ (FT)

John Ward – Greek Bailout : Uncertainty Persists As New Sovereign Liabilites Surface – 11 March 2012

“We’re about this far up the beanstalk”

There are signs that Germany, the IMF and Washington retain their doubts about Greek ‘salvation’

Seemingly confident that the worst is behind him, Evangelo Venizelos strode into a PASOK Party conference this morning. A pensioner on crutches hurled a full yoghurt pot at the obese Finance Minister just before he got to the podium. Perhaps this was the old man’s way of trying to add a little culture to the occasion: either way, it was a timely reminder of the deep unpopularity of the austerity measures this shifty and widely hated man has driven through – by fair means and foul. 

John Ward – DEBT SWAP ‘RESULT’: Hold The Euphoria….Validation, Scrutiny And Poison Pills Still To Come – 9 March 2012

The White House-Wall Street-Berlin-Frankfurt plan is still on track

Before everyone forgets what The Slog has said in recent days about this tiresome debt-swap mirage, let me just summarise:

1. I said plans had been put in place for a Greek default March 23rd. The last date set for bond-swap settlements announced yesterday is….March 23rd.