Super Stock Blog

Posts Tagged ‘eurozone’

Europe presents main threat to global recovery, IMF says (The Washington Post) “‘Recent global stability gains are threatened by a confluence of sovereign and banking risks in the euro area that, without continued and concert attention, could spill over to other regions,’ the IMF said in an update released today of its Global Financial Stability Report.” (Bloomberg)

EMU break-up risks global deflation shock that would dwarf Lehman collapse, warns ING: A full-fledged disintegration of the eurozone would trigger the worst economic crisis in modern history, devastate every country in Europe including Germany, and inflict a deflationary shock on the US. there would be no winners, warns the Dutch bank ING in a new report “Quantifying the Unthinkable”. (The Telegraph)

German industry hit by sudden fall in orders — “highlighting a risk that Europe’s mainstay economy could slide towards a new recession.” (Agence France-Presse)

Eurozone growth weak, even before belt tightens (Agence France-Presse)

Trichet Faces Market Rate Threat as Debt Crisis hurts Growth (Bloomberg)

Greek Debt Losses Exceed Stress-Test Level, Swaps Trading Shows — “A default by the Greek government may result in losses of about 60 percent on the country’s bonds, more than three times the level said to be assumed by European banking regulators, trading in derivatives shows.” (Bloomberg)

EU Stress Tests may Include 17% Loss on Greek Debt — “‘This sounds like the softest option possible,’ said Stephen Pope, London-based chief global equity strategist at Cantor Fitzgerald. ‘If that is the indicator how stringent the stress tests will be, then they aren’t worth too much.’” (Bloomberg)

Excessive Debt may Sink Global Stocks to Crisis Lows, Says first State (Bloomberg)

Is deflation the problem that will throw us into a depression? (Fortune blogs) the Rising Threat of Deflation (The American Enterprise Institute)

Auto sales put on the brakes: Industry analysts trim forecasts for 2010 as fewer shoppers show up at dealerships. — “‘The problem is that people are still not sure about their jobs, their retirement accounts or the value of their homes,’ said Jim Hossack, a consultant at AutoPacific Inc., a Tustin automotive market research firm.” (The Los Angeles Times)

Expect lots of government layoffs at state, local level (USAToday)

Wells Fargo to shut subprime lending unit, cut 3,800 jobs: Banking giant is closing 638 storefront offices of Wells Fargo Financial, of which 74 are in California. (The Los Angeles Times)

HP to cut 934 [UK] jobs (Network World)

Fannie Mae, Freddie Mac get new Tickers to Complete Delisting (Bloomberg) ["I was convinced Fannie Mae was a good company -- what was the worst thing that could happen to it?" -- Peter Lynch with John Rothchild in early 1990s best-seller Beating the Street]

How Fannie And Freddie Unloaded Their Trash: due to misconceptions and public ignorance, Main Street was polluted by some of Wall Street’s garbage. (Forbes)

Don’t panic, the Baltic dry is a rubbish indicator! (FT Alphaville)

Economic Signs of the Times: Wednesday roundup (07-07-10)