The EU's Bank-Saving Eggs Are All In The EFSF Basket A draft statement from Wednesday’s gathering in Europe called for stricter capital requirements for the region’s banks, but offered few specifics on how exactly struggling institutions will be able to go about raising that capital. _NULL_
Stocks Blow Off Bad Alcoa Earnings Giving Credence To Bull Market U.S. stocks are opening sharply higher open on Wall Street, following gains in European markets. S&P futures are up more than 10 handles. We are once again seeing investors shrug off bad news and continue buying, a tell-tale sign of a bull market. Last night Slovakian parliament was unable to pass approval of an EFSF expansion, although it is expected to pass in later votes. Alcoa (AA) also disappointed with its earnings report, and is trading off nearly 4%. 米国株式は、欧州市場での利益に続く、ウォールストリートに鋭く高いオープン開いています
Euro Leaders Face Important Decision On Function Of EFSF Leading Europe through a debt crisis that threatens the very value of the euro zone currency was not something that any of its current leaders had anticipated. The only evidence we need for this is the lack of tools in their kits to stave off a disaster of such large proportion in the currency. Nevertheless, there a few suggestions now have been floated in the economic minds of Europe’s policy-making circles. They may work in theory, but it is hard to tell if that will be good enough for markets, which want solutions quickly. _NULL_
Stocks Rally On Reports Germany And France Will Boost EFSF To $2.7TR A news report citing “senior officials” claiming Berlin and Paris were close to agreeing on final details pertaining to the shape and form of a comprehensive European rescue package boosted U.S. equities toward the end of Tuesday’s trading session. ベルリンとパリを主張する。。u0026quot;政府高官。。u0026quot;を引用してニュースレポートは近い火曜日の取引セッションの終わりに向けて米国の株式を押し上げ、包括的な欧州の救済パッケージの形状と形態に関する最終的な詳細について合意することでした
European debt crisis live: summit countdown European shares set to fall ahead of key summit on Wednesday as investors take profits8.22am: Well the FTSE is down 11 points at 5537, a 0.2% fall. The Dax in Frankfurt has lost 22 points, or 0.4% while the CAC in Paris has also shed 22 points or 0.7%.7.40am: Good morning. After two days of stock market gains, European shares are expected to fall back today as investors take profits. All eyes are on Wednesday's EU summit where European leaders will haggle over the size of losses Greek bond holders will have to take. Private creditors have apparently been asked to take a writedown of up to 60% on Greek government bonds but banks have balked at this figure, pushing for a 40% haircut.Adding to uncertainty, German lawmakers secured a full parliamentary vote on any changes to the €440bn eurozone rescue fund, which could risk delaying Europe's response to the debt crisis.Jonathan Sudaria, night dealer at London Capital Group, told Reuters:Expectations for this Wednesday's summit are high and anything other than a 'comprehensive plan' will be a disappointment. Merkel must face down rebels in her domestic parliament once more to gain approval to increase the EFSF. Tensions are also mounting between banking representatives and policy makers over the level of haircut required on Greek debt.There are also growing concerns over Italy's ability to push through reforms, after an emergency cabinet meeting to discuss pension reforms ended without any decisions taken.Financial spreadbetters expect Britain's FTSE 100 to open down 19 to 23 points, or as much as 0.4%. It closed nearly 60 points, or 1% higher, at 5548.06 on Monday. They're calling Germany's DAX 16 to 20 points lower, or 0.3%, and France's CAC 12 to 14 points down, or 0.4%.Asian markets were mixed overnight. Japan's Nikkei l _NULL_
Stocks Looking For Slovakia EFSF Vote Global markets continued to grasp at straws on Tuesday. Equities were mixed as markets awaited the resolution of a Parliamentary vote on the EFSF in Slovakia, while in the U.S. the sale of 99 Cents Only Stores for $1.6 billion provided some momentum. The Dow was down 0.2% to 11,411 points, the Nasdaq was up 0.5% to 2,578 points, and the S&P 500 was nearly flat at 1,195 points. グローバル市場は、火曜日にストローで把握し続けた
European debt crisis live: Greece locked in coalition talks Prime minister George Papandreou and opposition leader Antonis Samaras will continue their negotiations over a new Greek unity government this morning8.22am: French president Nicholas Sarkozy is expected today to take significant austerity measures to rein in the country's deficit, and ensure that the debt worries hanging over the eurozone periphery do not spread towards the centre.A series of newspaper reports over the weekend have sketched out what the cuts, or tax hikes, might involve. The move to a higher retirement age in France of 62 will be brought forward to 2016 or 2017, rather than 2018. Automatic rises in welfare benefits could also be hit, Le Figaro has suggested, while there could be a rise in VAT in certain areas. Large companies could face a higher tax rate, meanwhile.In recent months France's credit rating has come under pressure. But any cuts are politically as well as economically risky for Sarkozy, six months away from an election.Prime Minister Francois Fillon will announce the new measures at 11am.7.55am: Here's a rundown of the key events today:The negotiations between George Papandreou and Antonis Samaras over Greece's new unity government resume this morning, with the name of the next prime minister expected to be announced before the end of the day.We are expecting details of French austerity measures - reports over the weekend suggest €8bn of cuts/tax hikes. The announcement is expected at 11am. The cuts come on top of €12bn of savings announced only three months ago.The eurozone's finance ministers are meeting in Brussels later today to agree the technical details of the operation of the ramped-up €440bn EFSF. The Italian centre-left opposition is preparing a vote of no confidence in prime minister Silvio Berlusconi. The media mogul faces a di _NULL_
Stocks Overcome Amazon's Big Stink With European Optimism U.S. stock futures were back on the climb Wednesday morning with investors once again optimistic that euro zone leaders will hammer out a plan to expand the European Financial Stability Fund (EFSF). 米国株式先物は、ユーロ圏の指導者は欧州の金融安定化基金（EFSF）を拡大する計画を打ち出すことに再び楽観的投資家に戻って登るの水曜日の朝だった
Postpone the Brussels summit? That's a dangerous game, Angela Markets are up and down anyway; the last thing they need is the idea reported by Die Welt that Germany would delay Sunday's meeting to put pressure on FranceSuch has been the propensity of Europe to shoot itself in the foot at every stage of the sovereign debt crisis that nothing it does now comes as much of a surprise anymore. Yet the story, coming out of Germany, that Angela Merkel would consider postponing this weekend's summit in Brussels is perhaps the daftest idea floated so far.It won't happen, of course. Financial markets, already up one minute, down the next, would completely freak out if Europe's leaders decided that they needed to come up with some sort of plan to prevent Italy, Spain and perhaps France from being sucked into the maelstrom. The rally of the past couple of weeks has been entirely driven by the idea that Europe will finally get its act together now that the single currency is in a life-or-death struggle.What then explains the story being put around by Die Welt? Almost certainly, the Germans are using the threat of a postponement to put pressure on the French to water down their demands for Sunday's meeting. Paris would like the European Central Bank to use all its firepower to scare the financial markets into submission, but Berlin is sniffy about that idea.The framework of an agreement is already circulating. It will involve leveraging up the European financial stability facility (EFSF) to provide a fund of €1tn to €2tn (£870bn-£1.75tn); there will be a recapitalisation of Europe's struggling banks; and there will be a writedown of part of Greece's unpayable sovereign debt. The deal needs to be big enough and comprehensive enough to satisfy the financial markets when they reopen for business on Monday morning.There are three obvious reasons to _NULL_
G20 summit could end with no deal for IMF, says Merkel German chancellor says hardly any countries at Cannes meeting have offered to put funds into the IMF or Europe's bailout fundAngela Merkel has warned that the G20 summit could break up without the expected financial boosts to Europe's crisis bailout fund and to the International Monetary Fund.Highlighting the tense mood at the two-day meeting in Cannes, the German chancellor said hardly any countries had offered to put funds into the European financial stability facility (EFSF), despite Europe's plea for financial assistance.Merkel also said the summit had failed to agree on extra resources to ensure that the IMF had enough firepower to cope with the impact of Europe's sovereign debt crisis on the global economy.G20 sources said the talks would go down to the wire, with the non-eurozone members of the group insisting on a credible plan to solve the single currency's problems before pledging any more money for the IMF.Italy's prime minister, Silvio Berlusconi, was coming under particular pressure on the issue of IMF monitoring of his country's progress in reducing its budget deficit as the focus of attention switched away from Greece.The euro fell on the foreign exchanges after Merkel's comments appeared to increase the risk of the Cannes summit delivering far less than the financial markets had expected.The EFSF is supposed to be able to deploy up to €1tn (£860bn) to defend Italy if – as seems quite possible – it finds it impossible to carry on borrowing money on the markets. Merkel also reportedly said no agreement had been reached on putting extra money into the IMF.The summit was billed as a make-or-break moment when a Greek rescue package would have to be firmed up. The chance of that happening now appears remote.G20Angela MerkelEurozone crisisEuropean banksIMFEcono null, responseDetails: Suspected Terms of Service Abuse. Please see responseStatus: 40
The Business podcast: eurozone crisis With markets growing impatient and Greece running out of money, Europe is running out of time to come up with a solution to a growing list of financial crises. This week a planned extra meeting of eurozone finance ministers was cancelled (after we recorded the podcast) amid concerns a deal was not close to being reached. EU leaders will still meet in Brussels and the issues are stark: Greece needs a new bailout agreement, many of the continent's banks need to be recapitalised and the bailout fund (EFSF) needs to be substantially enlarged. All of these issues are interlinked and all require, ultimately, taxpayers' money - much of it from Germany. Larry Elliott, David Gow and Jill Treanor assess the likelihood of a deal being agreed before calamity ensues. (Warning: This podcast contains scenarios of financial peril)Leave your thoughts below.Tom ClarkLarry ElliottJill TreanorDavid GowPhil Maynard
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