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  1. Troubled times for euro zone

    Posted Jun 03rd 2010, 12:00am by Adrian Lo

    ... debts has caused the cost of borrowing for the other weaker euro zone countries- such as Portugal, Ireland, Italy and Spain- to rise. And the countries with stronger economies, especially Germany, now have to find the cash to keep Greece afloat. This huge operation breaks a key rule agreed by the euro zone countries- one which banned bailouts for nations which lived beyond ...

  2. Baptism of fire for IMF chief Lagarde

    Posted Jul 01st 2011, 12:00am

    ... conflicting interests between member governments in the resolution of the euro-zone debt crisis and emerging nations' expectations of a bigger say in the IMF's affairs. Lagarde rose ... nations. The immediate test, though, will be whether she can shed her euro zone hat in managing the IMF's involvement in the bailout of Greece to head off a sovereign debt default. Not all IMF ...

  3. The US is to China what Italy and Greece are to Germany

    Posted Nov 11th 2011, 12:00am

    ... zone above 7 per cent. At that rate of interest, markets doubt Rome's ability to refinance the Euro238 billion (HK$2.51 trillion) of government bonds maturing over the next two years without outside help, let alone raise new debt (see the first chart). Many observers believe this leaves the euro zone with just two options. Given that government austerity measures are clearly ...

  4. Retreat of EU banks could hurt world: IMF

    Posted Apr 24th 2012, 12:00am

    ... May Chan may.chan@scmp.com European banks hiving off assets and refusing to extend credit could send shockwaves through capital markets in the euro zone and around the world, says ... report on global financial stability. And should EU states fail to improve their balance sheets, euro-zone credit could shrink by as much as 4.4 per cent over that period and hurt emerging Asian ...

  5. E.U. crisis could last seven years, ex-IMF chief warns

    Posted Dec 20th 2011, 12:00am

    ... In a keynote speech to an annual conference of economists organised by NetEase.com, a mainland news portal, Strauss-Kahn shared his insights on the euro-zone debt crisis. He called for greater ... the possibility of returning to political life. Focusing on Europe's economic malaise yesterday, he projected a pessimistic outlook, saying the euro zone lacked integrated fiscal budgets, monetary ...

  6. Europe may spark chaos on Lehman scale

    Posted Jan 21st 2012, 12:00am

    ... zone, and that they would default on their debts. Despite official reassurances that the euro zone would survive, the two countries would also revert to their own currencies, which they would then devalue, Greenwood said. He added that it was highly unlikely that euro-zone economies could weather prolonged deflation. Hong Kong, however, had done so in the aftermath of the Asian financial ...

  7. Yuan on the agenda, but probably not in the final statement

    Posted Nov 04th 2011, 12:00am

    ... to invest in an expanded rescue fund aimed at resolving the euro zone debt crisis. Tim Condon, chief economist with ING Asia, said the uncertainty created by Greek Prime Minister George Papandreou's decision to call a referendum on the rescue deal was likely to mean that the euro-zone debt crisis would crowd out all other issues at the G20 meeting. 'And with China expected ...

  8. 'Yuan's not fully global just yet'

    Posted Apr 26th 2012, 12:00am

    ... the underlying problem of the lack of competitiveness of some euro-zone countries, he said. For instance, labour costs in Spain, Italy, Portugal and Greece have risen more than 25 per cent in the last ... their economic competitiveness, said Greenwood. The process had already started, he said, as euro-zone economies were now experiencing a pullback in lending. The devaluation process would cause more job ...

  9. G20 nations in wonderland

    Posted Sep 27th 2011, 12:00am

    ... they have a big plan. It would cover all bases and solve the problems comprehensively with three major thrusts: to recapitalise European banks that are at risk; to boost the euro zone bailout fund so that it has enough firepower to withstand any crisis; and to allow Greece to default, but remain within the euro zone. Officials, depending on whom you talk to, imagine a bailout fund ...

  10. Import growth rate slowest in two years

    Posted Jan 11th 2012, 12:00am

    ... and protect the economy from a potential recession in the euro zone. The value of inbound shipments grew 11.8 per cent in December to US$158.2 billion, slowing from 22.1 per cent growth in November ... export growth to be in the single digits this year. HSBC forecasts the euro zone will slip into recession, with its economy contracting by 1 per cent this year, and the US will experience ...




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