InfoAnda - Eurozone debt crisis deepens

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

Hitachi replaces president | 16 March 2009
S.Korea may cut treasury bond sales plan in 2009 | 26 December 2008
Vacuum cleaner icon Dyson takes aim at room fans | Technology | | 13 October 2009

Russia extends military presence in Armenia | 20 August 2010

Forum Views () Forum Replies ()

Read more with google mobile : Eurozone debt crisis deepens

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 Weekend Edition Top Stories Most Popular Photos Full Coverage Sitemap Eurozone debt crisis deepens AFP - 1 hour 19 minutes ago Send IM Story Print PARIS (AFP) - – The financial cloud hanging over the eurozone darkened Tuesday, with the euro falling and Italy hit by rising borrowing rates as EU measures to control sovereign debt left investors uncertain and anxious. The euro fell under 1.30 dollars for the first time since mid-September, dropping at one point to 1.2969 dollars from 1.3121 dollars late Monday. The single currency later edged back up to 1.2982 dollars. Upward pressure intensified on 10-year borrowing rates for countries seen at risk of needing a rescue after Greece and Ireland, with attention focused on Spain, a potentially much bigger problem for the EU. The yield -- the rate of return -- on 10-year Spanish bonds rose above 5.50 percent from 5.46 percent late on Monday and for fellow struggler Portugal to 7.072 percent from 7.0 percent. The gap between Spanish and benchmark German borrowing rates at one stage widened to 3.0 percentage points, an all-time high. The differential is a "short-term fluctuation," Spain's Deputy Finance Minister Jose Manuel Campa insisted Tuesday. "We cannot react to fluctuations of one or two days on the market, especially at times when, given the market tensions, there is a perception that liquidity is smaller than in normal market conditions," he said. "These are short-term fluctuations. We are currently in a period of turbulence. What is important is to execute planned policies and the markets will respond," he added. Spain's Socialist government has introduced politically sensitive measures aimed at reviving the economy and slashing its public deficit, including an overhaul of the country's rigid labour market rules.Italy too was under pressure on Tuesday, with the spread between its 10-year rates and those of Germany coming to 2.0 percentage points, likewise for the first time. Italian bond yields rose to 4.687 percent from 4.638 percent on Monday. "Objectively, on the basis of Italian fundamentals, the reaction seems excessive," said Marco Valli, an economist with UniCredit bank. "But the market is panicking, which could mean that the eurozone crisis of confidence has entered a more dangerous phase," requiring possible intervention by the European Central Bank. ECB President Jean-Claude Trichet meanwhile sought to soothe fears raised by the Irish debt crisis in remarks to the European Union's parliamentary committee on economic and monetary affairs. He said both Greece and Ireland were solvent, insisting that the eurozone economy was "functioning" and had grown by more than expected this year. Focus: Bonds, 'haircuts', savers and their shirts Trichet said that "observers are tending to underestimate the determination of the (eurozone) governments and the EU as a whole." Markets have given "a big thumbs down to the steps announced by the European authorities at the weekend," said Lee Hardman, an analyst at The Bank of Tokyo-Mitsubishi UFJ in London. In addition to approving an 85-billion-euro (111-billion-dollar) rescue for Ireland, European Union ministers outlined measures under which sovereign debt could eventually be re-structured -- but bondholders may have to bear some of the costs of future bailouts. "A taboo was lifted when the Europeans (ministers) on Sunday said that sovereign debts could be restructured after 2013, which signals that bondholders could no longer be protected," said bond strategist Nordine Naam at Natixis bank. Hardman said "the poor bond market reaction is an indication that the market is worryingly losing confidence in the European authorities' ability to deal effectively with the eurozone sovereign debt crisis." At Pimco, a big fund heavily invested in government bonds, chief executive Mohamed El-Erian, said: "My concern is that indecisive management of problems in Greece and Ireland might lead investors to sell sovereign bonds issued by peripheral (eurozone) states as a preventive measure. "The longer the uncertainty over how investors will participate in losses lasts, the greater the probability that they withdraw from the market" for government bonds, El-Erian said. Trichet agreed that markets needed greater clarity from EU political leaders, in particular regarding the possibility that investors would suffer losses in the event that a eurozone country defaulted on its debt. Trichet said rules agreed to last weekend by eurozone finance ministers would be "fully consistent with IMF policy" and would not automatically demand that private investors bear losses. "These rules are no less and no more than those which already exist at a global level," he noted. At CitiFX, a branch of Citigroup, analyst Valentin Marinov said the fall of the euro "signals that investors remain more focused on potential contagion to other eurozone countries than they do the situation in Ireland." "A failure from the euro to rally on this development (the Irish rescue) suggests investors do not believe the package goes far to averting strains in countries such as Portugal and Spain." Recommend Send IM Story Print News Search Top Stories Eurozone debt crisis deepens Negotiators get down to details at UN climate talks US consumer confidence hits five-month high EU launches Google antitrust probe Euro plunges to two-month low under 1.30 dollars More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Britain's Prince William happy to wait for crown Ecuador offers WikiLeaks founder residency Billions of EU's euros going unused: report Obama calls for US government pay freeze Iran says nuclear scientists, programme attacked More Most Viewed » 'Naked' airport scanners may be 'dangerous' Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Obama gets 12 stitches after 'elbow in the lip' 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 Weekend Edition 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 Entertainment Photos Yahoo! News Network 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 Wednesday, 1 December 2010
Egypt's Islamists say they might withdraw from vote
Euro plunges to two-month low under 1.30 dollars
Medvedev warns West of new arms race
Sanctions squeeze Dubai's trade with Iran
Negotiators get down to details at UN climate talks
Student protests disrupt Italian roads, railways |
Coalition ramps up air war over Afghanistan
Picasso treasure trove surfaces in France
US consumer confidence hits five-month high
Eurozone debt crisis deepens
Sony sells 4.1 million Move systems
Afghan gunman had no criminal background
Ugandan paper says it will keep outing gays |
Iraq delays first census since 1987 over land row |
Swiss slammed as 'black sheep' over expulsion vote
Chile's Collahuasi resumes wage talks with workers |
Amid doubts, Cubans pursue private sector dreams |
Solarz, US lawmaker who broke with Marcos, dies
Warhol's portrait of Dutch queen sold for 400,000 euros
China postpones Norway talks as Nobel tensions rise
China suspends Norway trade talks amid Nobel fury
Lagerfeld undresses Greek gods for Pirelli calendar
France's top HK diplomat fired for stealing wine: sources
Classic Bob Dylan lyrics up for auction in New York
US-ENTERTAINMENT Summary
GM hiring to push electric effort beyond Volt |
"Winter's Bone" wins best film at Gotham Awards
RIM shares jump on positive view of new OS |
"Winter's Bone," "Kids" come up big at Spirit Awards
U.S. secret documents on N.K. and Kim Jong-il revealed
Lowe's to boost online biz, margins initiatives |
Wall collapses at Pompeii's House of Moralist
Thai group organises rally criticising court verdict
Veteran French rockers Noir Desir split: drummer
Sony sells 4.1 million Move systems |
Finnish vineyards use creativity, not grapes, for wine
UK's Telegraph newspaper says no paywall decision |
Filmmaker Zucker pays tribute to Leslie Nielsen
Winter's Bone, Kids come up big at Spirit Awards |
Michael Douglas eyes Liberace after chemotherapy |
Roger Waters honors war casualties on Wall tour |
US-TECH Summary
Lowe's to boost online biz, margins initiatives
FCC proposes broadcast airwaves for wireless use
Sony sells 4.1 million Move systems
UK's Telegraph newspaper says no paywall decision
Cablegate leaks divide opinion on freedom of information
Google close to buying shopping site Groupon: reports
Indian tech firms link with China to take on Western brands
Chinese micro-blog re-emerges after shutdown
'Sarkozy the American' mulled troops for Iraq: WikiLeaks
INTERPOL issues global arrest request for WikiLeaks' Assange
South Korea plans new drills as China avoids blaming North |
Comcast, Netflix partner feud over 'open Internet'
Sarkozy to run for second term: UMP
Don't hunt down my son, says mother of WikiLeaks founder |
Complacency fuels new AIDS surge in West: UN
Heavy snow hits airports and roads across Europe
China arrests hundreds of hackers, says situation grim |
Wireless firms playing bigger role in Linux
Palestinians have other options if talks fail: Abbas
Branson scoops Murdoch with digital magazine
Russia's Putin warns West over missile defense: report |
Finger length predicts prostate cancer risk: study
China's healthcare plans bump against rural skills gap |
Google in crosshairs of the wary and watchful
Landslides and flooding kill 21 in Venezuela |
New York Times looks to WeightWatchers for Internet tips
Activision cool to mobile, social games
Opposition cries foul at Ivory Coast poll result delay |
Obama and Republicans agree to negotiate on taxes
BofA may be next WikiLeaks target; stock falls
Motorola to split in two in January
Global Weather-Asia-Celsius
Branson launches glossy iPad magazine, 'Project'
U.S. military study gives green light to end gay ban
Motorola to split in two in January
Pakistan dismisses nuclear fears in leaked US cables
E.Timor leader pushes for ASEAN membership
Swiss Timing charged in Delhi Games graft case
Malaysia detains Indonesian terror suspect: report
"Tron: Legacy" may fall short at box office
Hong Kong to hold inquest over Manila bus hijack
Michael Douglas on 'upward curve' from cancer
FCC proposes wireless use of broadcast airwaves |
China's healthcare plans bump against rural skills gap
Complacency fuels new AIDS surge in West: UN
Wireless firms playing bigger role in Linux |
China arrests hundreds of hackers, says situation "grim"
Judge issues rulings in estate's superhero battle
Google close to clinching Groupon deal: reports |
Amy Poehler trades "SNL" skits for single character
US, S.Korea wrap up war games amid N.Korea crisis
CBS revamps low-rated "Early Show," ousts anchors
Branson scoops Murdoch with digital magazine |
China's manufacturing activity picks up in November
iPad has real Xmas rival in Galaxy tablet
Michael Jackson's dad files new wrongful death suit
Activision cool to mobile, social games |
S.Korea Nov exports, PMI ease slowdown concerns
Uma Thurman stalker back in jail
New York Times looks to WeightWatchers for Internet tips |
NZ to hold two minutes' silence for dead miners
Seoul shares end up 1.3 pct on autos, refiners
USOC eyes revival of Olympic TV network
Tiger Woods all a-Twitter at Sherwood |
S.Korea bonds rise as Nov inflation decelerates
China arrests hundreds of hackers, says situation grim |
Korea Hot Stocks -Vaccine issues up on Foot-Mouth disease fears
South Korea won stronger on brisk exports data
Seoul shares open up helped by U.S. data
S.Korea Nov mfg PMI ends 6-month fall
Argentina, China sign 'historic' farm trade deals
Surveys show China manufacturing up in November
Michael Jackson's dad files new wrongful death suit |
CBS revamps low-rated Early Show, ousts anchors |
Amy Poehler trades SNL skits for single character |
Uma Thurman stalker back in jail |
Judge issues rulings in estate's superhero battle |
Tron: Legacy may fall short at box office |
Bob Dylan lyrics seen fetching big money at auction |
Egypt opposition threatens to boycott runoff
Hamas would honor referendum on peace with Israel |
Egypt ruling party heads to sweeping win in vote
Israel torn on U.S. arming Arabs against Iran: WikiLeaks |
Iran hangs woman for murdering love rival
FCC to take up net neutrality at December meeting
U.S. calls for stronger OSCE support for Afghan war |
U.S. condemns Palestinian report on Western Wall
Bailout chief says EU serious about protecting euro
Euro recovers -- but fears of Portugal bailout
Egypt Islamists say quitting rigged election |
Taliban kidnap demining team in east Afghanistan
Afghanistan announces last set of election results |
Pakistan rejects fears over its nuclear weapons |
Iran says U.N. sanctions helped scientist's killers |
Al Qaeda finds in Yemen a society ripe for infiltration |
South Korea spy chief says more attacks likely
Iran biggest drug supplier for Indonesia
Former Soviet republic giving up nuclear materials
Indonesian presenter Susan divorces husband
Bangladesh protests hit businesses
Indonesia sees pre-marital sex active among teenagers
Bangladesh ex-PM's son faces money laundering charges
Bali gears up for influx of holiday visitors
FCC to take up net neutrality at December meeting |
Home alone: Life of a 6-year-old HIV-positive boy in China
FTC report to push stronger Web privacy but limited |
India ratifies key spending bill amid corruption row
AC/DC drummer hit with NZ cannabis conviction
Cyber Monday sales hit all-time high: comScore |
Chinese firms keen on Taiwan IT show: organisers
NZ housing confidence touch softer in Q3
Japan's Skymark to hire 470 former JAL staff
IMF likely to delay next Pakistan loan tranche-source
Vietnam urges 'strong measures' to stabilise forex, gold
Group urges Indonesia's Aceh to repeal sharia bylaws
India's Maruti car sales top 100,000 for fifth month
Pakistan's 3-month fiscal deficit at 1.6 pct of GDP
Eurozone, China fears weigh on Asian markets
Thailand hikes interest rate to 2.0 percent
Pakistan to announce results of T-bill acution on Wednesday
MTV launches Me, Myself and HIV film on AIDS day |
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	VPN on MacOSX	BlogMeter 1.01