InfoAnda - Eurozone faces 2010 debt crisis

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Militants kill 2 police in northwestern Pakistan | 5 December 2008
Carol Cole, sister of Natalie Cole, dead at 64 | 23 May 2009
France, Germany strike deal to aid Greece | 26 March 2010

Iraq business elite flourish in Jordan safe haven | | 15 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Eurozone faces 2010 debt crisis

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Eurozone faces 2010 debt crisis AFP - Sunday, January 3 Send IM Story Print Eurozone faces 2010 debt crisis Slideshow: Full Photo Coverage: Business & Economy FRANKFURT (AFP) - – The eurozone's new year heralds a debt crisis that has alarm bells ringing and markets tracking government plans to tame the growing shortfall. Officials have borrowed heavily to pull the 16-nation zone out of its first recession, and debt levels are set to smash a huge hole in the ceiling set by the European Union in its Stability and Growth Pact. Soaring budget deficits, low growth and banking sector support "are feeding into significantly higher public debt levels," the European Commission has warned. Average eurozone "public debt could reach 84 percent of GDP (gross domestic product) by 2010, an increase of 18 percentage points from 2007," it said, far above the pact's limit of 60 percent. Government debt ratings have been downgraded in Greece by all three major international agencies, and by some of them in Ireland and Spain as well. The Fitch agency has urged all governments with top ratings to tame debt, mentioning in particular Britain, which is not a eurozone member, along with France and Spain, which are. Germany, long considered the cornerstone of eurozone fiscal discipline, forecasts public debt at around 78 percent of GDP this year, while in France, the second biggest eurozone economy, public debt jumped to a record 75.8 percent in the third quarter of 2009. Greece says its shortfall come to 120 percent of output in 2010. Debt is raising the cost of borrowing for many countries and adding to the weight of reimbursing obligations on future budgets. With unemployment rising and weak growth expected in 2010, officials cannot count on increased tax revenues for much help in paying down debt, a lot of which is owed abroad. "The (economic) crisis is weighing on the sustainability of public finances and potential growth," the EU commission has warned as economists leave open the possibility of a "double dip" recession this year. Finances will be undermined further by an ageing population that will need expensive health care in the years to come. But tightening the financial screws, as many capitals have pledged to do, could choke off an economic recovery if officials act too soon, analysts warn. Natixis economist Patrick Artus said that in the near term, "it will not be possible to return to less expansionary monetary policies, at the risk of creating huge problems" as money pumped out to boost activity has begun to generate fresh problems of its own. They include new speculative bubbles in emerging economy assets, commodities and possibly even real-estate, a key factor in the mid-2007 financial meltdown. Failing to act on deficits and debt however will spark a reaction at some point from financial markets which will demand higher interest payments on loans, especially from highly exposed countries like Greece. On Friday, the yield, or interest on 10-year Greek bonds was a hefty 2.36 percentage points higher than that for benchmark German bonds. Before the financial crisis erupted in August 2007, the spread was just 0.29 points, and in early December, Greek Prime Minister George Papandreou warned: "Either we eradicate the debt, or the debt will eliminate the country." The Greek debt debacle constitutes one of the eurozone's biggest tests ever as Europe's single currency begins its 12th year in existence. That has weighed on the euro, which traded for 1.44 dollars on Thursday ahead of the New Year holiday. Markets want to know if solidarity will prevail within the 16-nation bloc, as most analysts expect, or whether it will plunge into an existential crisis. European Central Bank governing council member Ewald Nowotny has underscored a "no bail-out" principle contained in EU treaties, while German Chancellor Angela Merkel, head of Europe's biggest economy, has suggested otherwise. Merkel said last month that "we all share a common responsibility," for Greece. Recommend Send IM Story Print Related Articles Cities, counties take back corporate tax breaks AP - 1 hour 3 minutes ago Aabar says has no investment in Arabtec Reuters - 1 hour 11 minutes ago Savola sells storage facility for $80 mln Reuters - 1 hour 27 minutes ago US-BUSINESS Summary Reuters - Sunday, January 3 Eurozone faces 2010 debt crisis AFP - Sunday, January 3 News Search Top Stories Beat the blues by going to bed early: study Italian banks face first class action lawsuits German businesses abuse scheme to save jobs Insurer Allianz sees good year for Germany in 2010 Handball Henry still a fan favourite More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended 'Snowbama' time in Hawaii Japan Airlines 'may stop international flights' Handball Henry still a fan favourite Beat the blues by going to bed early: study Oil prices rise on last day of 2009 More Most Viewed » Tiger's wife Elin seeking divorce: reports British priest defends urging people to shoplift Century-old butter found in Scott's Antarctic hut Brazilian confesses to sticking needles into two-year-old Plastics component affects intestine: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 3 January 2010
Gaza Hamas rulers approve $540 million budget
Italian banks face first class action lawsuits
Venezuela captures bigger drug haul in 2009 |
Afghan parliament rejects most of Karzai's cabinet nominees
German businesses abuse scheme to save jobs
Israel acts like the world's "spoilt child"
Somali charged with attempt to kill Danish cartoonist
Saudi FM says Israel behaves like 'spoiled child'
Insurer Allianz sees good year for Germany in 2010
Danish cartoonist's assailant charged with attempted murders
Bin Laden daughter should be free to quit Iran
Iran issues 'ultimatum' to West over nuclear swap
Iran gives West ultimatum to accept uranium swap
Yemen president to work with U.S. to boost security |
Late cleric's son warns of more Iran turmoil
Bin Laden daughter should be free to quit Iran: Saudi Arabia |
Picasso, other art works stolen from French villa |
Karzai visits south Afghanistan, rockets land nearby |
Bomb suspect may not have begun trip in Ghana |
Blaze at Ohio mobile home kills 2 kids, 2 adults
Early morning NC apartment fire kills 1, injures 4
Pakistan volleyball game bomb toll hits 93
Smoke smell sends NYC-bound jet back to Boston
10 die as trains collide in fog-bound northern India
Afghan parliament rejects most Cabinet nominees
Cop group's card played role in Times Square scare
Oil leak pollutes large stretch of China river
Remains of early 1900s plane found in Antarctica
China expected to grow 9.5% in 2010
Picasso, other art works stolen from French villa
Picasso, other art works stolen from French villa |
Rush Limbaugh says doctors found nothing wrong |
Afghan MPs reject Karzai cabinet nominees
Thousands march in Spain for ETA prisoners' rights
China says H1N1 flu spreading into the countryside |
Tablets and netbooks to be electronics show stars
Beat the blues by going to bed early: study
'Google phone' debut expected this week
Hundreds evacuated as floods hit eastern Australia |
Turkey, Georgia, UAE bankroll Caucasus rebels: Russian television
Iran warns West it will make its own nuclear fuel
China sees long-term stability struggle in Xinjiang |
Sandra Bullock Named Top Money-Making Star Of 2009
US commander in Iraq says troop drawdown on track
Mike Tyson Escapes Criminal Charges For Punching Paparazzo
"Happy ******* New Year" As Lady GaGa Strips And Rocks Miami
Mexico detains brother of slain drug boss |
Colombian volcano erupts, evacuation ordered |
Afghan parliament rejects most of Karzai's cabinet nominees
Bomb suspect reached out to UK militants: report |
Danish cartoonist attacker suspected of al Qaeda ties |
U.K. says it, U.S. agree to fund Yemen police unit |
Tablets and netbooks to be electronics show stars
China sees long-term stability struggle in Xinjiang
Snow paralyses Beijing as north China braces for cold
Race link 'presumptuous' in Indian killing: police
Scores arrested in north Texas cockfight raid
Fla. police nab man in Thanksgiving killings of 4
Workers contain fuel leak in China river
Watch out: Thieves rob Tokyo jewellery store
Calif. pastor takes in $2.4M after donations plea
Heavy snow brings Beijing to standstill
Lessons of a weekend of free health care
China says H1N1 flu spreading into the countryside
Gloom and fury as Pakistan attack toll nears 100
3rd body found after Detroit apartment fire
Pioneering plaintiff wants DC's 1st gay marriage
Afghan parliament rejects Karzai's Cabinet list
Remains of early 1900s plane found in Antarctica
Obama sees sea life at Hawaii park, goes to beach
FAA watching American Airlines after 3 mishaps
GOP leader says US leaders can overcome problems
Eurozone faces 2010 debt crisis
Counterfeiting in China thrives: experts
Asahi to tie up with Carlsberg in Hong Kong: report
Canada's Chinese immigrants assimilate quickly, easily
Bono calls for control over Internet downloads
Hamas says in final stage of Fatah reconciliation
Iraq to support Blackwater lawsuit in U.S. courts |
Iran says West agreed to wait over nuclear proposal
Iran MPs reject call for subsidy bill withdrawal |
Iran MPs reject call for subsidy bill withdrawal
Abbas to Egypt for talks on Mideast peace efforts
Death toll from Brazil mudslides rises to 76 |
Joint Israeli-German cabinet meeting rescheduled
Iran: Clash with drug smugglers kills 11 policemen
Hamas says in final stage of Fatah reconciliation |
Israel FM questions Palestinian president's authority
Roadside bomb kills former Pakistan minister |
Death toll in central Somalia fighting rises to 47 |
BAA to introduce full-body scanners at UK's Heathrow |
Opposition nominates south Sudanese for president |
Pope's secretary visits woman who floored pontiff |
About 1,000 Australians evacuate homes from floods
US, Britain close Yemen embassies over Al-Qaeda threats
Will latest jobs bill really produce jobs?
One thousand forced to flee Australia floodwaters
UN official: Afghan Cabinet dispute a 'setback'
The nation's weather
Five leap to their deaths in China to flee fire
Friends of missing Utah mom launch Web media blitz
Sister accidentally runs over, kills brother
Malaysian govt to appeal 'Allah' ruling: minister
US, Britain widen anti-terror front in Yemen
3 Pakistanis convicted in Indian blasts escape
Australian PM pens children's book
Clijsters starts New Year in style in Brisbane
Peruvian court upholds 25-year sentence for Fujimori
Tokyo bourse to launch high-speed trading system
Samsung aims to quadruple LED-backlit TV sales
A far-off museum to save an Ethiopian tribe's soul
French bakery offers future to Afghan minority children
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01