Ms Merkel signalled that Ireland and Portugal can't expect similar treatment to Greece, saying that the Greek writedown would risk undermining investor confidence in European sovereign debt if not coupled with stricter conditions to cut its debt and deficit. Tips on how to make it to the United Kingdom, Germany or further away to Australia or the United States have spread like wildfire among students, jobless youth or families who have seen their incomes drop dramatically. BRUSSELS — The European Financial Stability Facility said Saturday that all three ratings agencies -- Standard & Poor's, Moody's and Fitch -- have confirmed its AAA rating. Europe: the plates are shifting – and David Cameron risks being stranded Whitehall officials are urgently reviewing every aspect of Britain’s membership of the European Union to support David Cameron’s promises to bring back powers from Brussels. European credit markets appear to be already voting with their feet, as core-peripheral bond spreads have begun widening again after a mere 24-hour respite. Italian 10 year government bond yields are back over 6% and Spanish bond yields have reversed their declines from the post-summit euphoria Emerging Mkts Push For Greater ECB Role In EU Debt Crisis -Officials
"So when we allow a restructuring, we have to do our utmost to keep other countries from coming and saying, 'We also want to have half of our debt wiped off the books'.
http://www.independent.ie/business/european/merkel-says-sovereign-debt-crisis-wont-be-over-for-a-year-2920458.html
Trichet warns Euro crisis ‘isn’t over’; calls for precise, quick enforcement of deal
http://en.mercopress.com/2011/10/29/trichet-warns-euro-crisis-isn-t-over-calls-for-precise-quick-enforcement-of-deal
Some Bank Deleveraging 'Quite Appropriate' But Pace Important
Klaus Regling, chief executive of the European Financial Stability Facility, said on Saturday that he sees the euro-zone crisis will largely be "settled" in two to three years.
http://tinyurl.com/3vv7c47
http://www.arabtimesonline.com/NewsDetails/tabid/96/smid/414/ArticleID/175553/reftab/73/t/Greeks-want-to-flee-debt-crisis-abroad/Default.aspx
http://www.google.com/hostednews/afp/article/ALeqM5i08r4HZ1YwmVlVzujQVy8tOHkTFg?docId=CNG.ed2d1c76e347dd9b69977fa6792108fd.601
t was not so much the scale of Monday evening’s rebellion that shocked Downing Street, as the composition of the rebels. No 10 had believed it was fighting a battle against the Conservative Party’s old guard, and was preparing to crush them. But of the 81 MPs who defied the whips over an EU referendum, 49 were from the new intake.
There has been so much obsessing about the ethnicity and gender balance of the new Tories that little attention has been paid to their political orientation. They seem rather passionate about politics, and not so worried about their careers. More importantly, their idea of political balance is to have a picture of Thatcher on the wall and Jacques Delors on the dartboard. They are deadly serious about Europe – and all of them can see that the nature of the EU is changing radically.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=37873
http://www.telegraph.co.uk/news/politics/8856974/Whitehall-officials-urgently-review-Britains-EU-membership.html
http://www.actionforex.com/analysis/weekly-forex-fundamentals/eu-summit-relief-rally-may-be-short-lived-20111028152227/
Top European officials, including France's President Nicolas Sarkozy and Klaus Regling, head of Europe's existing bailout fund, are soliciting interest from China and elsewhere.
But Russian, Chinese and Brazilian officials say they're reluctant to contribute cash until they see more details of Europe's new debt crisis package.
"At the moment, the ECB's role is not clear," said Amar Bhattacharya, director of the Group of 24 emerging and developing markets secretariat, at a joint Asia Development Bank Institute and Brookings Institution event here. "That's unfortunate, because that's where, in our view, the firepower lies," he said.
If Europe made clear the ECB is committed to being the lender of last resort, there's no need for any external finance, he said.
http://www.foxbusiness.com/industries/2011/10/28/emerging-mkts-push-for-greater-ecb-role-in-eu-debt-crisis-officials/
Saturday, 29 October 2011
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