วันศุกร์ที่ 16 มีนาคม พ.ศ. 2555

Eurozone crisis live: Markets rally despite storm clouds ahead

. The FTSE 100 hits eight-month high, despite the storm clouds before

. Pimco: submission of Greece will be under pressure before

. Two new political parties in Greece

2:12 p.m.:

course in Greece, where the firm is about to meet to officially support the latest rescue package. Helena Smith in Athens reports:

informed sources said the cabinet also discussed the "necessary measures to compensate for destruction" caused in Athens last month, when thousands of hooded youths took to the streets to protest against a vote in Parliament on spending cuts in return for more help. More than 180 buildings, mostly shops and banks - were damaged in the chaos, with at least 500 people lose their jobs as a result.

1:49 p.m.:

Since the conference European Open, Graeme followed on Twitter:

If OpenEurope, Megan Greene Roubini predicts the output of the Greek Euro in 2013, after the German elections + Portugal after 12 months

- Graeme Wearden (@ graemewearden) March 14, 2012

In Italy and Spain, Megan Greene predicted two years of terrible economic data. They are "the fight against chance" to stay in euro

- Graeme Wearden (@ graemewearden) March 14, 2012

Raoul @ OpenEurope see Ruparel Greek political problems ahead with the elections looming, "Where are you going to come from a stable government"

- Graeme Wearden (@ graemewearden) March 14, 2012

1:43 p.m.:.

Wall Street rose as the U.S. market meets the general mood of cautious optimism

The Dow Jones Industrial Average

is about 14 points in the first minutes of trading, following yesterday's profit after positive comments U.S. Federal Reserve in the country's economy. He has had little impact on numbers of U.S. import prices, which have shown a month, an increase of 0.4% per month in February compared to forecasts of a 0.5% increase. Benigno is the word used. The FTSE 100

is about 19 points in 5975, but has not yet crossed the threshold of 6000, for the first time since the beginning of July last year. Germany's DAX was 1.3%, while the CAC of France was an advance of 0.8%. hope that the crisis euro area has stabilized, at least for now, has been combined with optimistic comments on the U.S. to give investors some relief from economic traumas of the past.

But to continue on the theme of storm clouds,

aa Spanish bond yields are higher edges

, taking care to leave the country's budget deficit target difficult. When Spain goes, others may follow.


that the crisis has decreased, I go to an event called "Will the euro survive 2012 and Beyond ", organized by Open Europe.

leave the blog in the capable hands of my colleagues -. Middle of the afternoon


Meanwhile, says


shooting of crime, Greece is such that the newly installed Minister of Public Order (also known as the Minister of Civil Defence) will meet with the mayor of Athens to discuss the issue.



The crime rate is rising another branch of the global economy and financial Greece tourist dependent is also preparing its cash flows for the first visitor, security issues have taken center . Aid near Chyrsohoidis Michalis, who took over as minister of public order in a mini-reshuffle last week, as a criminal activity has reached epidemic proportions, particularly in Athens, where raids, robberies and murders (one every 48 hours) have skyrocketed. The flights were up 125% just in the metropolitan area of ??Athens in 2011.

The minister, who ordered the convoys of police on motorcycles increased immediately feared that the extremists can exploit the social crisis that has developed an unemployment (youth unemployment has exceeded 50 %) and deepening poverty. Without any warning, urban leftist guerrillas recently left an explosive development in the subway in Athens.

The device, which almost certainly would have losses left exploded, not only triggered by a fault.

There are some details of this incident here.

Helena follows:

Tuesday, culture and tourism minister, Pavlos Geroulanos revealed that the German reserves had fallen by 30% over the same period last year (German visitors usually at the top of rankings arrivals in Greece), while British reserves had fallen by 10% - in both cases because of the bad image that came with the media coverage of repeated riots sparked by the outrage by the austerity

The Ministry of Culture, face more cuts, appealed to the Ministry of Finance. funds to hire public relations firms in international hopes of improving the country's image before the tourist season begins.

On a personal note, Helen says, potential tourists should not worry about security. Outside of Athens, especially in the islands (which are always idyllic) there is little sense of crisis. Considering that nearly 18% of GDP comes from industry, which also offers a five jobs that Greece needs to "solidarity" of tourism more than ever.


This is another sign that the euro area has entered a calmer phase - the media could not manage a single EC request regular noon meeting today (reports Luke Baker, Reuters bureau chief in Brussels).

eurozone The crisis must be more - not a question of the briefing of the European Commission. Spokesman Embarrassed all. EUCO #

- Luke Baker (@ LukeReuters) March 14, 2012


Jean-Claude Juncker

confirmed that Greece will now start receive funds from its second rescue package.

Here is the full statement published in the last minutes:

States in the euro area have now formally approved the second adjustment program for Greece. All national procedures and parliamentary requirements have been fulfilled. Member States also authorized the EFSF * to release the first tranche of a total of ? 39.4bn, which is disbursed in several installments.

* -. This is the European Financial Stability Fund (the bailout fund, which merged with the European Stability Mechanism this summer


Dot "slices" is also important. To continue receiving the money, Greece will continue to support the goals set by its creditors.

Juncker said:

This second program is a unique opportunity for Greece, not to be missed. The Greek authorities must continue to demonstrate a strong commitment to maintain momentum and continue to rigorously apply the adjustment effort in the areas of fiscal consolidation, structural reforms and privatization, in strict accordance with the new program.

This will allow the Greek economy to return to a sustainable path, which is in everyone's interest.


There were not many signs of turbulence in bond markets this morning at an Italian auction of three years debt went well.

Italy loans fell to their lowest level since October 2010, as investors flocked to buy the ? 6 billion of bonds on offer. Performance (in fact, the interest rate) debt three years was reduced to only 2.76%.

This morning, Vice Minister of Economy of Italy welcomed the fact that the Italian bond yields have moved closer to his German counterpart, attributing it to a return of " foreign buyers "....

... some may seek to provide the loan of the European Central Bank Discount to three years of work.

There is a part of its claims that may be relevant to eurocrisis:

I'm sick of how people talk about the cold copy of its customers. Over the past 12 months have seen five different general managers refer to their own customers "Muppets", e-mail, sometimes internal. Even after the SEC, Fabulous Fab, Abacus, the work of God, Carl Levin, vampire squid? Without humility? I mean, come on. Integrity? Is eroding. I do not know of any illegal behavior, but the people pushing the products of the envelope and tone lucrative and complicated for customers, even if they are the simplest investment or, more directly aligned with client goals? Of course. Every day, actually.

Well, one of the many clients of Goldman was Greece (although the country is not directly mentioned in the Smith chart), which received a helping hand to refine their public finances before entering the euro. This work, which seemed to hide the real nature of the loans in Greece Goldman, has been heavily criticized since.

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