Germany's Backing of Redemption Pact Signals End Game for Europe?
• http://www.thedailybell.com, by Staff ReportGermany signals shift on €2.3 trillion redemption fund for Europe ...
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Economy - International
Any Rabbits Left in the Hat?
• http://www.thedailybell.com, Mike "Mish"Inquiring minds are poring over the ESM Treaty to see how it is supposed to work in theory, assuming it will be ratified by counties with the required 90% of EMU voting rights.
Germany sounds crisis alarm as Italy, France demand progress
• http://ca.news.yahoo.com, By Michele LeridonGermany warned it could not save the eurozone alone and borrowing costs left Spain on the ropes as Italy and France held crisis talks aimed at tackling the debt crisis on Thursday.
"Due To The Extreme Volatility Some Market Analysts Foresee..."
• ZeroHedge...in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potentia
Osborne unveils £140bn scheme to kick-start stagnant economy
• The TelegraphThe Bank of England is to offer money to high-street banks to kick-start mortgage and small business lending to prevent loans being rationed for many families and entrepreneurs, the Chancellor announced.
Heaven Help Us If The Rest Of China Crashes As Hard As Wenzhou
• http://www.businessinsider.com, BloombergJiang Xiangsong has 18 days to pay a 2 million yuan ($314,000) bank debt or his suitcase company in eastern China will go bankrupt.
THIS USED TO BE THE 10TH RICHEST SHOPPING STREET IN THE WORLD—Now Look At It
• http://www.businessinsider.com, Joe WeisenthalIn 2007, the real estate firm Cushman & Wakefield said that Ermou Street in Athens was the 10th most expensive shopping street in the entire world.
Italy Trembles On The Brink Of The Impossible
• businessinsider.com, Wolf Richter, Testosterone PiI believe, no,” is how Italian Prime Minister Mario Monti answered the question if Italy would seek a bailout..
MARKETS WHIPSAW AFTER COORDINATED CENTRAL BANK ACTION RUMORS
• http://www.businessinsider.com, Simone FoxmanMarkets are shooting higher after rumors from G20 sources that central banks are planning for coordinated liquidity measures, according to Reuters.
STOCKS EXPLODE HIGHER AND RUMORS ARE FLYING
• http://www.businessinsider.comHere's What You Need To Know
Capital & Travel Controls and Preparing for Chaos in Europe
• The Dollar VigilanteThen, in something we have not seen reported anywhere else, we received contact from a reader, Pierre J., who told us that bank branches are limiting withdrawals now almost everywhere in France.
I Just Got A Ride To My Hotel In Athens, And BOY Was It Depressing
• http://www.businessinsider.com, Joe WeisenthalAfter about 20 hours of door-to-door traveling from New York, I've finally arrived at my hotel in Athens, which is about two blocks away from Syntagma Square, the square in the center of the city where you see all the protesting.
CHART OF THE DAY: Spain's Gigantic Debt Problem
• http://www.businessinsider.com, Ben DuronioEveryone knows that Europe is in the middle of a major debt crisis. The most immediate problems include Greece and Spain. Other countries that have received bailouts include Portugal and Ireland.
The Lobby Of The Athens Hilton Is Freakishly Quiet
• http://www.businessinsider.com, Joe WeisenthalThe Lobby Of The Athens Hilton Is Freakishly Quiet
It starts: the government’s plan to steal your money.
• http://www.sovereignman.com, Simon BlackThere are consequences to investing any level of confidence in a financial system underpinned by debt and the creation of paper currency.
The Chinese are getting out of Europe
• http://www.sovereignman.comLast week we reported that European hedge fund managers were liquidating their European assets to reduce exposure. Now it appears that the lend-happy Chinese will be doing the same.
Mission Accomplished.
• http://www.sovereignman.com, Simon BlackThe concept of what we know today as “America” was alive and well in Venice during the Middle Ages; Venice was a place where, with guts, hard work, and a little bit of luck, you could become very wealthy and live the Venetian Dream.
Insight: Brazil protects its ... wines?
• Reuters Brian WinterBrazil is widely celebrated for having some of the world's best beaches, soccer, and Carnival festivities. Wines? Um, no.
BAILOUT FOR BROTHELS: Spain To Allow Prostitutes To Advertise Again
• Charlie Minato businessinsider.comThis weekend, the Spanish Parliament reversed a 2010 ban on advertising by Spanish prostitutes and brothels "'because of the recession," according to local media.
32 Signs That The London Olympics Will Be A Complete Disaster
• businessinsider.comWith just over two months to go before the Summer Olympics, we're wondering — can London escape the "Olympic Curse"?
Another Scary Collapse Chart Out Of India
• Mamta Badkar businessinsider.comIndian industrial production grew just 0.1 percent year-over-year (YoY) in April, and manufacturing which accounts for 75 percent of the industrial output index also grew just 0.1 percent.
EURO-DATES: Here Are The Next 9 Crucial Events In The Euro Debt Saga
• Simone Foxman businessinsider.comEU leaders will finalize the terms of the Spanish bank bailout, Greeks will vote (again), and investors will bite their nails over Italy.
Meet Alexis Tsipras, The Youthful Greek Leader Who Terrifies The European Financial Elite
• businessinsider.com APAlexis Tsipras has rarely been on good terms with Greece's establishment.
India's cash society converting to SmartCard use by way of World Bank
• The WallA new World Bank program offers so-called “smart cards” to people who have very little access to regular banks.
Iceland's President Explains Why The World Needs To Rethink Its Addiction To Finance
• http://www.businessinsider.com, Adam TaylorHere's the full transcript of our interview with Ólafur Ragnar Grímsson, who has been President of Iceland since 1996, and announced last month he would be running for a fifth term.
UBS: We Are In The Eye Of The Foreign Exchange Hurricane
• http://www.businessinsider.com, Mamta BadkarDemand for safe haven currencies surged in May when investors were panicked about the Greek elections and weak economic data coming from the US, UK, eurozone, China and India.
Bundesbank Executive: 'The Euro Is Like A Knife In The Hands Of A Child'
• http://www.businessinsider.com, Wolf RichterWhile France is preoccupied with the legislative elections next weekend, Germany and Austria plunge into intense public soul searching about the euro, its meaning, its relevancy, the sheer and endlessly growing expense of maintaining it.
The EU Is Considering Limiting ATM Withdrawals And Imposing Border Checks
• http://www.businessinsider.com, Luke BakerEuropean finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro.
DISASTER: ITALY GETS DEMOLISHED, SPAIN FALLS, AND YIELDS SURGE AFTER BAILOUT
• http://www.businessinsider.com, Simone FoxmanItaly closed down 2.8 percent, Spain fell 0.5 percent, and yields soared in Spain and Italy as any enthusiasm vanished about a Spanish bank bailout.
Spain: The Latest Shoe to Drop
Stephen LendmanEurope in deep crisis
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