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  1. Euro-zone deal a turning point

    Posted Jul 03rd 2012, 12:00am

    ... come to be seen as a turning point. Markets soared after euro-zone leaders agreed to a surprise deal to help Spain and Italy, which have been forced to pay unaffordable interest rates to add ... will be the introduction of a new system of euro-zone banking supervision through the European Central Bank, a first step towards a full banking union. The leaders also agreed to open talks on closer fiscal ...

  2. Signs that the euro-zone crisis is finally nearing its endgame

    Posted May 23rd 2012, 12:00am

    ... Tom Holland After almost two-and-a-half years in which Hong Kong's financial markets have been relentlessly whipsawed by developments in Europe, the euro crisis may finally be nearing its endgame. When European leaders get together today for an informal summit meeting, Germany will face calls from the euro area's other major economies, including France, to allow ...

  3. Forget a banking union, only fiscal discipline can save the euro zone

    Posted Apr 28th 2012, 12:00am

    ... of fiscal union? That transnational bank would still have the problem of whether to buy national debt paper and whether to mark them to market. A banking union may solve the euro-zone funding ... in the streets or the polls reject further austerity, then the euro zone could fragment. It is too expensive for it all to break up, but for those undergoing deflation, it may feel like it is too ...

  4. Two's a crowd in euro rescue

    Posted Jan 03rd 2012, 12:00am

    ... is not so gently mannered. It is titled the 90th Euro Rescue Summit- Or Euros for No One, and has Merkel drinking to her long-dead friends, including former Greek prime minister George Papandreou ... drinking for absent friends that Merkel warns him, 'Nicolas, think of your credit rating.' The narrator is heard saying, 'This is what happens every euro-rescue summit. Whether ...

  5. Euro may survive one default but not the next

    Posted Sep 30th 2011, 12:00am

    ... Union survived until 1991. Many pundits find themselves in the same situation today with regard to the euro. They say it could collapse any day now, and that the European Union itself may ... day now. The second is a collapse of the euro, triggered by a Greek default. That would plunge Europe back into recession, and cause chaos in the financial markets. The third is the collapse ...

  6. Hutchison allays euro fears

    Posted Oct 07th 2011, 12:00am

    ... in February as investors fretted over its exposure to Europe and the euro-zone crisis. Its shares rebounded 6.03 per cent to close at HK$57.13 yesterday, still down 31 per cent from early August. ...

  7. Europe's soap opera persists

    Posted Jun 15th 2012, 12:00am

    ... Kevin Rafferty The endless euro soap opera has run helter-skelter through new twists and turns: Spain accepted a Euro100 billion (HK$972.11 billion) bailout package to fix its rotten ... or be pushed out of the euro zone, whether Spain has done enough, when Italy's vulnerability will be recognised, who will blink first- France or Germany? The show will fascinate and drag down ...

  8. A default isn't enough, Greece needs to devalue

    Posted Sep 28th 2011, 12:00am

    ... will be difficult and expensive. But if policymakers can pull it off, and repeat the trick for the euro zone's other deeply indebted economies, they will have gone a long way to solving Europe's debt problem and restoring confidence in the region's banking system. Even that feat, however, will not be enough to save the euro in the long term. The trouble is that Europe's debt ...

  9. The ideal union eludes Europe, 10 years on

    Posted Jan 06th 2012, 12:00am

    ... of the euro, the urge to remove the causes of belligerency and to form institutions that would further the development of a common democracy has been a central purpose. Europe is not first and foremost a political concept or a financial convenience. It is an ideal. Thus, it will never be complete. We will work at it all our lives, as will future generations. The present euro crisis, taking us close ...

  10. Lai See

    Posted Nov 30th 2011, 12:00am

    ... out over what you read in the media.' At this stage the euro and the US dollar will be free- there will be no interest from the banks for these currencies. 'The US will print money ... the euro crisis will be resolved, the outcome is very predictable. 'There are 10 billion people in the world and everyone wants everything. There are screaming imperatives to keep it all ...




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