LATEST NEWS: A Day Of Reckoning For The Euro Has Arrived – 26 TRILLION In Currency Derivatives At Risk

This is the month when the future of the eurozone will be decided.  This week, Greek leaders will meet with European officials to discuss what comes next for Greece.  The new prime minister of Greece, Alexis Tsipras, has already stated that he will not accept an extension of the current bailout.  Officials from other eurozone […]

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LATEST NEWS: Wall Street drops on global demand concerns

U.S. stocks were sharply lower on Tuesday on concerns about the impact of lower oil prices on the global economy and the effect of political turmoil in Greece on the euro zone. Brent crude LCOc1 touched a fresh five-year low of $65.29 on Tuesday and was last down 0.3 percent to $65.97. Oil prices have […]

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IMF Sees Business-Loan Losses of EU250 Billion in EU Banks

“Banks in Spain, Italy and Portugal face about 250 billion euros ($338 billion) in potential losses on their business loans over the next two years, the International Monetary Fund said. About one-fifth of combined corporate loans is at risk of default in the three economies, which are forecast to contract this year, according to the […]

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Greece Can Never Pay Back Its Debt

“Legendary US investor George Soros has called for comprehensive debt relief for Greece. “Everyone knows that it can never pay back its debt,” he said in an interview with SPIEGEL ONLINE. Greece is close to a primary budget surplus after a lot of pain and suffering, says Soros, whose speculation against the pound forced the […]

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In historic step, Japan PM hikes tax; will cushion blow to economy

“Abe, riding a wave of popularity with economic policies that have begun to stir the world’s third-biggest economy out of years of lethargy, said the government will raise the national sales tax to 8 percent in April from 5 percent. But at the same time he softened the blow to the nascent recovery. As the […]

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Bailed-Out Nations Get Another Four Years of Merkel

“Southern Europeans are facing four more years of Angela Merkel whether they like it or not. Majorities of 82 percent in Spain, 65 percent in Portugal and 58 percent in Italy repudiate the German leader’s handling of the euro area’s debt crisis, blaming her for drastic cuts in social services, recession and record unemployment, according […]

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The Periphery is Failing

“For years we’ve preached the From the Outside In principle of markets: When trouble starts, it nearly always does so out in the weaker periphery before creeping towards the core. We saw this in the run-up to the housing bubble collapse, as sub-prime mortgages gave way before prime loans, and in Europe, as smaller economies […]

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Berlusconi Turmoil in Italy Poses Threat to Euro-Crisis Lull

“Italian government instability following the tax-fraud conviction of former Prime Minister Silvio Berlusconi threatens to end a lull in the European debt crisis and derail a nascent economic recovery. Berlusconi’s party has rallied around its leader, possibly seeking a presidential pardon and threatening a mass resignation of deputies in parliament, a move that could bring […]

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