eurozone

| ZeroHedge

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Spain IS Greece After All: Here Are The Main Outstanding Items Following The Spanish Bailout Submitted by Tyler Durden on 06/09/2012 14:52 -0400 Bank Run Bond Bridgewater CDS Creditors European Central Bank Eurozone Germany Greece Gross Domestic Product Ireland Italy National Debt Nationalization Portugal Sovereign Debt After two years of denials, we finally have the right answer: Spain IS Greece. Only much bigger. So now that the European bailout has moved from Greece, Ireland and Portugal on to the big one, Spain, here are the key outstanding questions.   via Spain IS Greece After All: Here Are The Main Outstanding … Read more

U.S. Stock Futures Drop Amid Concern European Crisis Worsening

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Sept. 5 (Bloomberg) — U.S. stock futures fell, indicating the Standard & Poor’s 500 Index may slide for a third day when exchanges open tomorrow, as European markets showed growing concern the sovereign debt crisis is worsening. Bank of America Corp. declined 5.9 percent and Citigroup Inc. dropped 4.9 percent in German trading as banks led the Stoxx Europe 600 Index to a 4.1 percent retreat. Alcoa Inc., the largest U.S. aluminum producer, slumped 3 percent in Germany. S&P 500 futures expiring in September lost 2 percent to 1,145.60 at 11:50 a.m. in New York. U.S. markets are closed for … Read more

Ongoing Greek Bail Out

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Greece will receive next tranche of EU-IMF aid on time Greece will receive the next tranche of EU-International Monetary Fund (IMF) aid package on time in September, Greek Deputy Prime Minister and Finance Minister Evangelos Venizelos said Monday, rejecting scenarios of potential delays and obstacles due to the ongoing debate within the EU over the loan collateral. “Our financing needs next month will be covered. There are funds available. There are about 45-B Euros (US$57.69-B) still available from the 1st bailout pact,” stressed Mr. Venizelos during a press briefing at the Finance Ministry. Some EU member countries over the past … Read more

Euro zone bond debate raises pressure on Merkel

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(Reuters) – One of Germany’s leading economic associations came out in favor of joint euro zonebond issuance on Monday, raising pressure on Chancellor Angela Merkel to consider bolder crisis steps ahead of a meeting with the French president. Until now, the idea of so-called “Eurobonds” has been fiercely opposed by Berlin, which is fearful such a step would push up German borrowing costs and reduce incentives for weaker euro zone members like Greeceto reform their economies. A German government spokesman was emphatic — Merkel and France’s Nicolas Sarkozy will not discuss common euro zone issuance in Paris on Tuesday because Berlin does … Read more