Tag Archives: European sovereign debt crisis

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.

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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) Continue reading

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.
Continue reading

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. Continue reading

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.  Continue reading

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. Continue reading