EU stands firm on airline emissions despite Chinese fury
• The RawStory.comThe European Union refused Thursday to back down from a disputed airline emissions fee despite China’s refusal to pay the new charge to land in Europe.
Contents Pages by Subject
European Union
Dialectic of a Universal Transaction Tax
• www.thedailybell.comThe European Union is set to move ahead with plans for a financial transaction tax despite British opposition, with a senior French politician saying the new levy will be in place by the end of year.
ECB Steps in as Italian Yields Hit 7%
• online.wsj.comLONDON—The European Central Bank again stepped into government bond markets to buy debt issued by the Italian and Spanish governments, whose borrowing costs spiralled higher Friday on concerns over the euro-zone financial system.
Ambrose Evans-Pritchard: 2012 could be the year Germany lets the euro die
• www.telegraph.co.ukThere will be no real help from China, India or over-stretched Brazil. The second wave will hit with youth unemployment already at 45pc in Greece and 49pc in Spain; and with the US labour participation rate already at depression levels of 64pc.
EU PLAN TO SLAP VAT ON FOOD
• www.express.co.ukThe European Commission wants VAT exemptions on food, children’s clothes and other essentials abandoned in an effort to harmonise the sales tax across Europe.
IMF urges members to boost funding under 2010 plan
• www.reuters.com(Reuters) - IMF chief Christine Lagarde on Thursday urged member countries to quickly sign off on an agreement last year to double IMF resources and give under-represented nations, such as China, greater voting power in the global lender.
Evacuation plan for Brits in Spain amid warning euro collapse could leave them stranded
• www.mirror.co.ukThe drastic proposals emerged as a former Security Minister warned expats could be left stranded and destitute by the break-up of the single currency.
Beware the Coming Bailouts of Europe - by Ron Paul
Ernest HancockThe economic establishment in this country has come to the conclusion that it is not a matter of "if" the United States must intervene in the bailout of the euro, but simply a question of "when" and "how".
Euro zone IMF lending plan in danger as UK declines
• www.reuters.comReuters) - European finance ministers looked unlikely to reach a target of boosting IMF resources by 200 billion euros to ward off the debt crisis on Monday, after Britain said it would not take part in a plan aimed specifically at helping the euro z
French credit downgrade could come 'within days'
• www.guardian.co.ukStandard & Poor's expected downgrade could create panic in the financial markets and make eurozone crisis even worse
Did The ECB Just Pull Off A Back-Door Bailout That Will End The Crisis?
• businessinsider.comYields on short-term peripheral sovereign bonds are plunging, despite the fact that EU leaders appeared to make little progress at their highly-anticipated summit last week.
Out of Chaos, Order: Now IMF Seeks Collective, World Bail-Out of Europe
• cnsnews.comFox News Correspondent Jennifer Griffin reports that only a handful of Iraqis were on hand Thursday as Defense Secretary Leon Panetta and U.S. military leaders formally ended the Iraq war with a subdued ceremony in Baghdad.
Greek Bank Run Hits Record: Unprecedented €6.8 Billion In Deposits Pulled From Greek Banks In Oct
• zerohedge.comWhile it is no surprise that Greek bank deposits are rapidly fleeing both the country's banking system, and the country, following September's record outflow of €5.5 billion, the situation just got far worse, after October data reveals that a record
The "Neutron Bomb Of Capital Calculations" And A Kyle Bass Refresher
• zerohedge.comIn a double-whammy of downbeat dystopian discussions, GMO and Kyle Bass are active on the inevitability of Europe's demise. Perhaps that is too strong but the two are focused directly, in separate pieces, on the huge need for capital and the dire dea
Why Euro's Continued Decline Is Bad News for All Markets
• cnbc.comThe single currency has lost ground rapidly since it became clear Europe has no grand plan to stop the sovereign debt crisis. It tumbled Tuesday to the 1.30 range, its lowest level in 11 months and a key technical zone.
Nigel Farage-Euro Funeral-Pogrzeb Euro
• YouTube.comPRZYWÓDCY ZNOWU SIĘ MYLĄ !!! (LEADERS AGAIN wrong!)
3 Lessons From the European Mess As the debt crisis unfolds overseas, prepare yourself...
•Question: A Greek, an Italian and a Spaniard walk into a bar. Who picks up the tab? -------- Answer: The Americans. All financial eyes are once again trained on the European debt crisis, with investors worldwide wondering how it will p
Marc Faber Dissolve the EU for Economic Growth
• YouTube.com
Guest Post: Plan B For "Breakup"
• zerohedge.comContingency planning for an unraveling of the [euro] involves cutting investment, moving money to Germany, transferring headquarters to northern Europe from southern, and even going out of business, according to interviews with more than 20 executive
Watch David Cameron Explain To UK Parliament Why He Broke Away From The Eurozone Group Of 27
• zerohedge.comLast week's biggest political shock was David Cameron telling Europe to shove its authoritarian ambitions and breaking away from the Group of 27, in effect killing any chance of a favorable summit outcome.
SARKOZY: There Are Now 'Two Europes'
• BusinessInsider.comNicolas Sarkozy is pretty clear in his thoughts on a "two-speed" Europe in an interview today with Le Monde.
European Financial Credit Sending Worrying Signals
• zerohedge.comWe warned on Friday that the strength in equities was divergent from any of the higher beta risk-on trades and today has seen this divergence grow even larger as European credit markets are selling off considerably even as stocks maintain some sembla
BRAND NEW NUMBERS: 20 Banks That Are Praying Europe Doesn't Go Bust
• BusinessInsider.comThe newest round of European Banking Authority tests of bank capital came out this week, and one thing is clear: everyone's deleveraging, and fast.
Latvia Bank Run: This Is What Your ATM Will Look Like During a Banking Panic
• YouTube.comThousands of Latvians lined up at bank counters and ATMs in an attempt to withdraw their savings from Swedbank, the country's largest banking institution. VIDEO
Latvia's largest bank fights off depositor run after rumours of imminent collapse
• http://ca.news.yahoo.comWeekend rumours that Swedbank was facing legal and liquidity problems in Estonia and Sweden sent thousands of Latvians to bank machines on Sunday, with some lines reaching as many as 50 people.
Portugal raids pension funds to meet deficit targets
• www.telegraph.co.ukThe cabinet agreed to transfer the assets from four of Portugal’s biggest banks to the state balance sheet. (BECAUSE THEY CAN)
The Swiss Government Is Getting Ready For The Collapse Of The Euro
• www.businessinsider.comThe Swiss government is preparing for a collapse of the euro, according to Swiss Finance Minister Eveline Widmer-Schlumpf.
Pay Close Attention To The WARNINGS
• market-ticker.orgThe EU summit "deal" is noise; we knew going in there would be no "grand bargain" and there isn't. Britain said "stuff it" (rightly so) along with a few others; those who went along did so pretty much at gunpoint.
Euro Countries Reach a Deal, but Britain Stands Apart
• www.nytimes.comEuropean leaders, meeting until the early hours of Friday, agreed to sign an intergovernmental treaty that would require them to enforce stricter fiscal and financial discipline in their future budgets.
Analysis: Sarkozy, Draghi winners in EU rift, Cameron loses
• www.reuters.comNapoleon dreamed of it, De Gaulle fought for it, but Nicolas Sarkozy may have achieved it -- a Europe of Nations with France in the cockpit and Britain on the sidelines.
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