Friday, May 11, 2012

@ - - - 5/10/12

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Knowing that you live would help.

Europe must be desperate:

http://krugman.blogs.nytimes.com/2012/05/10/tussle-in-brussels/
"May 10, 2012, 8:42 am

Tussle in Brussels

I’m in Belgium for the afternoon — and yes, I mean the afternoon. One of those things. So, not much blogging today! Here are the slides for my talk (pdf)."

Looking at the slides is enough.

Which Way To The Exit?
Paul Krugman

The title page picture.   The talk is on getting out of the depression.

Today's events.

http://www.telegraph.co.uk/finance/financialcrisis/

Brussels to audit Spanish banks

Independent inspectors are to be dispatched to audit Spain’s stricken banks as part of a raft of fresh conditions Brussels wants to impose in return for relaxing the country’s budget targets.
10 May 2012
| 3 Comments

Spanish banks need €100bn

Spanish banks need €100bn (£80.2bn) of extra capital which is “likely” to require international aid, analysts have warned, as Madrid prepares another attempt to rescue its financial sector alone.
10 May 2012
| 5 Comments

Germany can't save the euro now

The single currency could not survive Greece leaving it, predicts Jeremy Warner.
10 May 2012
| 143 Comments

The Left’s anti-austerity message is delusional

Telegraph View: It may be beguiling voters, but the Left is refusing to acknowledge harsh economic truths.
10 May 2012
| 44 Comments

Companies must raise £28 trillion

Companies across the world face a "perfect storm" as they have to raise more than £25 trillion to finance an upcoming "wall" of debt.
10 May 2012
| 93 Comments

Debt crisis: as it happened - May 10, 2012

Democratic Left Party proposes an 'ecumenical government' formed from a coalition of all political powers in Greece which would rule until 2014.
10 May 2012
| 568 Comments

Chinese sovereign wealth fund stops buying European government debt

The eurozone has lost a crucial lifeline as China's biggest sovereign wealth fund said it no longer wanted to buy European government debt.
10 May 2012
| 128 Comments

Surprise weakening in China import and exports

A disappointing trading performance from China in April raised concerns about how demand from the world's second-biggest economy will hold up as its growth slows.
10 May 2012
| 10 Comments

Hollande to fly to Berlin within hours of inauguration

France's president-elect moves crucial talks with Angela Merkel ahead by 24 hours.
10 May 2012
| 42 Comments

Greek socialists given third chance at forming government

Greece's socialist leader Evangelos Venizelos is facing the daunting task of forming a viable government, a day after a bid by a radical Left-wing anti-austerity party ended in failure.
10 May 2012

Merkel: no 'magic bullet' to beat debt crisis

German chancellor warns: "Growth on credit would throw us back to the start of the crisis".
10 May 2012
| 7 Comments

Greece in chaos as coalition talks fail

Greece's political turmoil deepened last night after a key Leftist leader failed in his bid to form a coalition government, making fresh elections next month all but inevitable.

http://www.bbc.co.uk/news/world-europe-18015441
The old line parties attempt to wave the flag.
I expect no takers.

http://www.bbc.co.uk/news/business/market_data/overview/

Dow Jones 15 min delay
Dow Jones intraday chart
value
change
%
12855.04
+19.98
+0.16
Top winner and loser
Pfizer Inc.
22.83
+0.38
+1.69
Caterpillar Inc.
95.44
-0.55
-0.57
Nasdaq 15 min delay
Nasdaq intraday chart
value
change
%
2933.64
-1.07
-0.04
Top winner and loser
Infospace Inc.
13.36
+2.38
+21.68
Silicon Graphics International Corp.
6.17
-2.92
-32.12
S&P 500 15 min delay
S&P 500 intraday chart
value
change
%
1357.99
+3.41
+0.25
Top winner and loser
NRG Energy Inc.
16.13
+0.71
+4.60
MEMC Electronic Materials
2.45
-0.80
-24.62
BBC Global 30 intraday chart
value
change
%
5852.44
+2.22
+0.04
Market reports
London
Paris
Frankfurt
Wall Street
Tokyo
FTSE 100 15 min delay
FTSE 100 intraday chart
value
change
%
5543.95
+13.90
+0.25
Top winner and loser
Polymetal International
816.50p
+49.00
+6.38
Experian
910.00p
-41.00
-4.31
Dax 15 min delay
Dax intraday chart
value
change
%
6518.00
+42.69
+0.66
Top winner and loser
Deutsche Boerse AG
45.43
+1.71
+3.90
Deutsche Post AG
13.71
-0.77
-5.28

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http://uk.reuters.com/article/2012/05/10/greece-bets-idUKL5E8GA4RN20120510


LONDON | Thu May 10, 2012 12:01pm BST
May 10 (Reuters) - Want a flutter on Greece leaving the euro zone? It may already be too late. A surge in bets has forced Britain's second-biggest bookmaker, Ladbrokes, to suspend betting after repeatedly slashing the odds on Greece dropping out of the euro zone by year end.
The failure of Greece's leaders to form a government has renewed speculation that Greece could be forced out of the single currency.
"It is safer for us to suspend betting than to keep cutting the odds," a spokesman for Ladbrokes said. "We have been slashing the odds repeatedly over the last few days."
"If we get some positive news we will open the book again," he said.
Ladbrokes is still taking bets on the Greek stock market losing more than 25 percent of its value in a single day's trading by the end of 2012.
And if you fear Greece is just the beginning of the end for the European single currency, Ladbrokes is offering odds on the euro ceasing to exist by the end of 2012, which would make punters 33 times their original stake.
Ladbrokes said it had "plenty of support for the 33/1 on offer the currency was scrapped entirely this year."
Ladbrokes, which has around 2,100 shops in Britain, is offering odds of 5/6 that the euro will cease to exist by the end of 2015 and 4/1 on two or more states to leave the euro by the end of the year. (Writing by Rhys Jones and Guy Faulconbridge; editing by Janet McBride)


















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