European debt crisis2

November 21, 2011 [World Chinese wealth] United States stock markets 21st opened lower, all the three major stock indexes fell, Europe debt worries weighed on the market. Integrated media on November 21, the United States 21st in the stock market opened lower, the market worried about both sides of the Atlantic there is no progress in the solution to the debt problem, a Chinese official warned the global economic downturn or long-term continuity.

21st European stock market dropped sharply by midday. After media reports that the United States Congress Super Committee failed to reach at least the next 10 years reduction of Chek Lap Kok to agree on a programme of us $ 1.2 trillion, Congressional Republicans and Democrats in addressing United States debt problem had tremendous differences on the best strategy.

Forex.com-Catherine Brooks, head of Research Department (Kathleen Brooks), "said expected United States stock market will be dominated by the political struggle in the Congress. "Brooks said," red reduction Agreement deadline is this Wednesday, if overdue agreement cannot be reached – this seems a very big possibility, it would send the wrong message to the market. ”

In addition, investors are still worried about proliferation of euro-zone debt crisis and the inability of the decision-makers in control crisis. Moody's investors service warned that France Government's borrowing costs rise and uncertainty in the economy, has led France's AAA credit rating is at risk.

Chinese Vice Premier Wang Qishan's speech further exacerbated the market's pessimism. According to Xinhua, Wang Qishan said at the weekend the world recession could perpetuate.

Company news, global financial customer still has $ 3 billion Fund was frozen to express anger, global finance three weeks after it declared bankruptcy, its customers are facing loss of billions of dollars, after the figure stood at US $ 600 million. To date, only 40% customer return of the funds was approved.

De Exchange and the New York Stock Exchange hopes to sell its stock options for business in Europe, leaving more opportunity for competitors to enter that area, and to lobby the EU antitrust authorities supported the two exchanges on mergers and acquisitions, but the company's Board members raised this objection.

As higher grain costs offset improvements in product prices and revenues, United States the largest meat hygiene taitaisen food (TSN) fourth-quarter net profit from the reduced rates of $ 213 million to 97 million dollars from a year earlier, revenue growth 13% to us $ 8.4 billion.
Beijing 22:32, the Dow Jones industrial average fell 111.34, 11,684.82 points, or 0.94%; the Nasdaq composite index fell 34.07 per cent to 2, 538.43, or 1.32% the standard and poor's 500 index fell 14.41, report 1, 201.24, or 1.19%.http://stocks.caixun.com/content/20111121/NE031sme.html

November 18, 2011 British Prime Minister David Cameron implied support modified EU Treaty

While Germany and the United Kingdom in the area of financial market regulation and financial tax differences, but it seems that Mr. Cameron will support Mrs. Merkel on amending the proposal of the EU Treaty.

According to Dow Jones Newswires reported on November 18, Germany and the United Kingdom in terms of new financial market regulation measures remains disputed, but completed after discussions in Berlin, United Kingdom Prime Minister David Cameron (David Cameron) seem to support Merck modified EU Treaty in order to achieve a closer collaboration in euro-zone budget proposals.

Germany has been pushing for amendment of the EU Treaty that would allow euro-zone Member States to develop more common fiscal policy, euro support. Merkel also wants to have violated the Maastricht Treaty (Maastricht Treaty) of debt and deficit rules Member States impose harsh sanctions.

Cameron said: "I very much agrees with Angela (Angela Merkel) have been saying, a long-term solution to this problem must also be involved in the European Union to implement appropriate fiscal discipline rules, so that we no longer manufacture this confusion.”

Before the meeting with Mr. Cameron, MS Merkel has been met with several other leaders of the European Union. On December 9 in the forthcoming meeting of the European Council, is expected to discuss prospects for amendment of the EU Treaty. United Kingdom has not made it clear that opposing the revision of the Treaty, but hope that these will affect the EU internal market, on the United Kingdom economy is very important decision, finalized by the 27 EU Member States, rather than the 17-nation euro zone Member States separately.

Merkel over the past few weeks has been known as euro-zone debt crisis is an opportunity to rebuild EU structural, but such lofty goals could not be achieved. Many European leaders, including Ireland, Prime Minister Kenny (Enda Kenny) and Denmark's Prime Minister Schmidt (Helle Thorning-Schmidt), are opposed to the amendment of the EU Treaty, that would require States for Treaty referendum again. Schmidt urged Merkel to resolve the crisis, then discussing treaty changes.

Due to the wide range of modified proposal was objected to Merkel looks set to recover the view to the more in line with the realities of the EU policy areas. She met with Mr. Cameron, insists the EU institutions need greater powers to ensure compliance with financial commitments, but she said that the non-euro area Member States are not included.

Merkel said: "that covered only with respect to the euro-zone Member States limited modifications to the Treaty.”

Too many names (in etiquette are rare in German), Merkel and Cameron has staged a solidarity play, but I still can't cover up their financial markets despite the obvious differences between the tax and financial transactions. He made clear that United Kingdom would not agree to impose a tax on financial transactions in Europe, because that would affect the financial center of London.

Merkel said: "we agreed that we should import now global financial transactions tax. “But she admitted that in Europe alone plans to implement the policy has not been any progress
http://international.caixun.com/content/20111119/NE031qvl.html

Friday, November 18, 2011 Euro-bullish align risk currencies rebounded to amend
lack of key information and event risk, after the markets opened on Italy, and Spain to continue after a short rally in bond yields fall, provided support for market sentiment held steady; in addition, after a week of continuous decline, investors cautious prior to the weekend market thinly. Under such market conditions, risk currencies before you try to fix this week against the dollar declines. However due to lack of substantial positive messages of support, in addition to pound, the risk of currency rebounded against the dollar is more limited. But European afternoon disc market outgoing of message quickly changed has this a status, has message persons revealed by Europe Central Bank to IMF provides loan, and IMF to improve on euro support efforts of this a envisaged in EU internal made has progress; the message persons said Germany, and Europe Central Bank currently still against this a views, still willing to considered about, and expected related agreement first may Yu on December 9 EU Summit reached. After the message, rapidly breaking resistance for the past two days on EUR/USD 1.355, other risk currencies followed sharp rebound against the dollar.
Germany Angela Merkel and United Kingdom Prime Minister will meet on Friday, with a view to resolving differences of opinion on the euro crisis. Merkel said the strong euro and the United Kingdom at stake, and United Kingdom Prime Minister agree, will be looking for solution of the crisis together before the December Summit; at the European level in the Cameron and introduced tax on financial transactions that have yet to make progress; in Europe will be United as one. Cameron said, agreed that strong, successful and sustainable euro in line with the interests of all sides; 5% increased requirements of the European Commission on the EU budget cannot be accepted; Eurozone needs credible firewall; long-term solution the Eurozone crisis mechanisms include adequate financial discipline rules.

Insider, as a result of the International Monetary Fund (IMF) from the European Central Bank (ECB) access to credit, and relief fund provides funding for the euro area the Government's proposal to receive more. This means that the European Central Bank may be provided to the IMF loan in the near future. And if the European Central Bank could provide loans to the IMF, IMF will be able to provide greater support for the euro. If the proposal supported by the parties, it may be announced at the EU Summit on December 9 agreement.

A euro-senior government officials on November 18 at the same time, Germany and the European Central Bank is still opposed to this proposal, but since there are no other feasible alternative, negotiations could soon start once Italy in need, must be a corresponding response, so talks are imminent. An IMF official said another proposal is that the European Central Bank for the Eurozone relief mechanism of the European financial stability Fund (EFSF) to provide financing, but Germany has made clear for this object. European Central Bank and the IMF declined to comment on the proposal.

Part of the Eurozone officials said the Eurozone leaders and IMF had discussed the programme of the European Central Bank loans to the IMF in order to provide the IMF with enough funds to curb the region's debt crisis. Officials said, on the part of the programme has been adopted, or a way to avoid legal restrictions by the European Central Bank. Economists generally believe that only the European Central Bank can give markets sufficient confidence in the credit, because the expansion of the European stabilization fund (EFSF) to 1 trillion euro programme cannot be introduced in the short term, even if introduced the programme and its resources are insufficient to boost market confidence. However, the legal constraints on the European Central Bank loans to Governments of Member States of the European Union. Prior to the change in policy, the European Central Bank is unlikely to be a lender of Eurozone Member States.

Greece 2012 budget plan "final" publication, or on December 7 the final vote. Greece on Friday the Government (November 18) submitted to Parliament's final budget for 2012 plan shows, the smooth implementation of debt swaps, the budget deficit/GDP is 5.4%; if not the smooth implementation of debt swaps expected budget deficit next year is 6.7% per cent of GDP, is expected this year, the ratio was 9%. The budget plan that is expected as part of the debt swap, will be paid to bond holders 30 billion euros in cash. Budget plans also claims that if execution of debt swaps, 2011 352 billion euros of debt, 161.7% per cent of GDP. The news that is expected Greece Parliament on December 7, 2012 budget plans for the final vote.

Italy Mario Monti said Friday the Prime Minister, is expected shortly to take unpopular measures, but advance to play against, "facing the task very difficult, almost impossible." Italy National Bureau of statistics released on Friday, Italy September industrial orders plummet, decline in domestic demand. Italy monthly rate adjusted industries decreased by 8.3% in the September quarter, decline in maximum monthly rate since August 2009, with domestic orders monthly rate plummeted 10.1%. No quarter adjusted annual industry decreased by 3.6%, creates the biggest annual fall since October 2009.

Finland Katainen Friday as saying the Prime Minister, will make the market believe that it will implement austerity programs, will depend on Italy and Greece itself. So far about the European debt crisis control measures to prevent the financial turmoil from spreading virtually no role, unable to convince investors that Italy can case without outside assistance to tide
http://fx.caixun.com/content/20111118/NE031qba.html

Eurostat on Wednesday, November 16, 2011 announced that euro-zone inflation in October since the beginning of the second month in a row at three-year highs, rising fuel prices push up the cost of living. Euro-zone inflation has exceeded 11 months in a row set by the European Central Bank "2% target ceiling".
According to the October CPI by 0.3% in the final months of the eurozone, in line with expectations, value increases of 0.8%;CPI future value of an annual rate increase 3% in early October, in line with expectations and initial value, for the highest level since October 2008. At the same time, October eurozone core CPI excluding energy, food, tobacco, drink by 0.3% in the final months, early in October increased by 0.9%; final annual rate increased by 1.6%, value increased by 1.6% in early October.

　　Eurozone October CPI month excluding tobacco by 0.3%, by 2.9% per annum; excluding energy and unprocessed food Terminal value monthly rate of inflation rose by 0.3%, by 2% per annum.

　　In October, the eurozone annual rate of increase in energy prices 12.4%, rising food prices 3.1%, housing prices rose 5.1%, clothing prices went up by 2.3%, transport prices rose 5.8%.

　　By country, Germany October inflation was flat at 2.9%, France rose to 2.5%, Italy rose to 3.8%, Spain held steady 3%, Belgium is 3.4%.

　　Economists said the euro-zone economic prospects face major risks, despite the high inflation rate, but may occur in response to economic recession, the ECB is expected to be further interest rate cuts in the coming months.
http://forex.hexun.com/2011-11-16/135297951.html

November 12, 2011 Italy Prime Minister Silvio Berlusconi had declared attitude, in Italy the Senate and by a reduction of debt, stimulate economic growth after the package, he would resign. But he did not expect, resigned earlier than anticipated. Italy Senate's overwhelming superiority, 11th through this programme, and the House will stand later today. If passed, Berlusconi will honour their commitments to end his career as a third Prime Minister. Italy media speculate that the economist who has served as European antitrust Commissioner Mario Monti will become Prime Minister of the Transitional Government. Academic origin of Monte can save Italy?

In the age of 68, nicknamed as "Super Mario" Economist Mario Monti will take up the Italy after the news of the Prime Minister of the interim Government, not only Italy 10-year government bond yields fell below 7%, European and American stock markets also rebounded. Economist as Prime Minister, why there is such a big boost to the market results? Italy senior media Lucas said markets didn't know El to Italy what, we may think that Berlusconi's departure is a good thing.
Lucas: the market for Berlusconi's assessment has always been negative, and during his presidency Italy's weak economy, without even 1% to increase rates. In particular, face debt crisis, his carelessness we missed a good opportunity.
Italy's political changes President Christine Lagarde seriously by the International Monetary Fund said Italy efforts are being made to deal with the debt crisis, but by choosing an economist and take the Government austerity policies and more importantly maintaining political stability.
Christine Lagarde: IMF and my duty is to maintain stability, we would like to see relevant national councils clearer, Italy there is an urgent need to eliminate political uncertainty, maintaining market stability.
Economist Papademos be entrusted with a mission at a critical and difficult moment served as Greece's coalition Government, Prime Minister, Italy will also be an economist, Prime Minister of the Transitional Government. Why academic suddenly popular in politics? China Institute of international relations of the European expert Liu Mingli believes that relatively large differences in political party when elected an economist led transitional Government, there is no political experience, you can avoid the adverse effects of partisan disputes, and even more important is that the two countries really need people to deal with the current economic background thing.
Liu Mingli: debt problem involves a lot of financial problems, and even involves a lot of specific technical issues. For example, the Fund should be how to expand, expand in what form, you may also need to design a financial derivatives. Is complex and without a technical background is hard to understand.
Capital markets, as well as Italy's Senate is welcome in the positive way with Monte and hoped that the Super maliao can save Italy, and save the Eurozone. However, Liu Mingli think Italy question entrenched single-handedly El I'm afraid it's hard to finish the mission.
Liu Mingli: Italy to stimulate economic activity, related to welfare reform. Sun cannot head, only Eastern Mediterranean sun, have to work hard. No matter what economic model, creating financial economic growth depends on the people's labor, in order to pay off his debts. It's hard to say, a person under his policy will be able to achieve the country's economic recovery, involving complex institutional adjustments. Reform of the welfare system rather difficult. http://www.chinanews.com/gj/2011/11-13/3456282.shtml

Beijing time on November 8, the market is considered Italy Prime Minister Silvio Berlusconi to stay the issue; compensation consulting firm in China report Wall Street bonuses this year is expected to decline in average of 20% per cent over last year; Federal Reserve survey showed that Europe's debt crisis has begun to spread to United States bank credit. Stocks rose slightly, with the Dow Jones industrial average is up 0.26%, 12099.65, the Nasdaq composite index up 0.22%, 2711.99, the standard and poor's 500 index rose 0.38%, 1265.93, almost 30 index, 0.13%, 828.56, crude oil up 1.07% $ 96.54 per barrel; gold rose 0.07%, $ 1792.4 per ounce.
Compensation consulting firm Johnson Associates released the closely watched report said, in China this year, Wall Street bonuses are expected to drop than last year's average of 20% per cent. In China engaged in trading and investment banking on Wall Street pay decline is expected to be the highest, while both businesses usually is Wall Street's most profitable business.
Perimeter markets:
As Italy able to control the debt problems of capacity has led to more and more people are concerned, Italy Prime Minister Silvio Berlusconi also faced calls to step down, but he refused to step down. Vote on the budget will be held in Rome on Tuesday afternoon, the vote is seen as Berlusconi can remain critical test, if the budget vote failed, Berlusconi will face a confidence vote.
Investors want Berlusconi to step down after the establishment of the new Government to take prompt measures to reassure markets. Chief market strategist at London City Index Joshua-Raymond (Joshua Raymond) said, "I think, the current tone remains uncertain, meant Italy after the Council vote even if the market is any rise will be very fragile. ”
Under the influence of Berlusconi may talk of stepping down, Italy Government bond yields fall, European stocks rise; after the Berlusconi denial, the market immediately reversed. Forex.com-Catherine Brooks, head of research (Kathleen Brooks), "said the past few months, political factors have been around the market. But yesterday's volatility to Italy the Prime Minister has sent a clear signal: we want you to step down. "But Brooks also believes that even if Berlusconi's Government collapsed, Italy Council continuing instability. Brooks says, "therefore, even if Berlusconi stepped down, Italy political vulnerability will also make it difficult for the new Government implemented market wanted economic and fiscal reform.”
Economic data:
United States in August, the National Federation of independent business (NFIB) according to data released on Tuesday, in October this year, the United States increased the NFIB Small Business optimism, which means that a small business for the next six months, business confidence in business conditions will improve growth. Data show that in October this year, the United States NFIB Small Business index increased 1.3 points to 90.2, the mean value of a per cent in January 2009 has improved.
Company news:
Handle network today submitted the latest F-1 file revision, announced plans to publicly release 5.36 million shares (5,356,990ADS), 1ADS=36 common shares, the issue price range $ 13-15. Press release interval median price at $ 14, handles financing amount up to $ 75 million.
Toyota Motor second-quarter results showed that net profit than analysts ' estimates. In addition, Toyota also lowered earnings expectations due to Thailand the worst flood disaster since nearly 70 years, leading the company to recover from the March earthquake disaster and the efforts of the frustrated, because this is the second home Thailand floods and lowered earnings expectations Japan automotive manufacturers.
Steam system in anterior disc announced Q3 earnings of the company as of September 30, 2011. Reported a third quarter net revenues of US $ 75 million, US $ 76.1 million in the same period last year, fell 1.45%; gross revenues of $ 13.8 million, compared with $ 18.2 million; gross margin 18.4%, 23.9% for the same period last year, last quarter 17.9%; net income of US $ 9 million, fully diluted earnings per share of $ 0.1, $ 13.8 million in the same period last year, fully diluted earnings per share of $ 0.26.
RDA microelectronics announced before the third quarter of fiscal year 2011. According to main business revenue: US $ 83.93 million in the third quarter than previously expected, from the second quarter of 67.42 million rose cent; compared $ 57.49 million in the third quarter of 2010 increased 46%; gross margin ahead of company expectations, to 34.9%. 2011 is 34.1% in the second quarter, third quarter of 2010 is 30.2%; net income of $ 15.7 million, diluted ADS revenue: US $ 0.34 per share.
Morgan Stanley said, claiming that the part of investors sold more than $ 6 billion in bad mortgage bonds, on behalf of these investors have 18th Gibbs&Bruns law firm issued a lawyer's letter to the company, claiming that Morgan Stanley sponsored or underwritten errors or false information to the Trust Fund on the basis of a lot of real estate mortgage-backed securities issued
http://stock.sohu.com/20111108/n324959436.shtml
[World Chinese wealth], 8th, Europe, the euro remained range bound against the dollar, late period exceeded 1.38 integers mark, surging in Swiss francs, Greece and Italy changes into future focus of the Council.

Integrated media reported on November 8, Ou Shi 8th, the euro remained range bound against the dollar, compared with amplitude enlargement of Asian city, late period Greece will soon announce a new Government, a Government spokesman, stimulating euro rally hit intraday highs against the dollar to $ 1.3803.

Late period sources reported Greece cabinet meetings of the formation of a coalition Government was over, Greece Minister said Greece Prime Minister Papandreou has said goodbye at the Cabinet meeting, the new Greece, Prime Minister Candidate will be decided in the near future. Boost higher risk currencies, European stocks extend gains, stocks futures also raised.

Italy, later Italy austerity programs will be a key vote. According to Dow Jones Newswires reported on 8th, Italy Prime Minister Silvio Berlusconi is working with a number of members holding one-on-one talks, aimed at making a final effort to persuade their opponents in the Centre-right ruling coalition in a crucial parliamentary vote in support of the Government. But one of his long-term supporters of Isabella Bertolini said, he must change his strategy.

In addition, Berlusconi's key ally Umberto Bossi also said he called for Berlusconi to step down and was in favor of Alfano (Angelino Alfano) as a possible successor. Bossi also said that the 8th there will be no related news.

The Swiss franc, in the European market in Switzerland's Central Bank Deputy Governor hinted at changes in policy, Swiss franc has soared. EUR/CHF quick dive, 1.24 rapid discharges to 1.232 above horizontal, cross, dragged down against the Swiss franc also plummeted, refresh the intraday low of 0.8946.

Jordan said, if conditions allow, the row will return to normal monetary policy, and if the situation had improved in Europe, Swiss francs will be lower. The remarks surprised CHF traders, who had been expected, the row will be Swiss francs against the fluctuation limit increase from the current 1.2 Swiss francs to CHF 1.25 or higher, to further efforts to curb Swiss franc rise.

Netherlands International Group (ING) said that Switzerland's Central Bank will not increase the euro against the Swiss franc lower, because Switzerland's Central Bank to maintain the exchange rate and minimum levels of credibility took a larger effort to lower limit if frequent adjustments would undermine that credibility. The Agency pointed out that foreign reserves according to Switzerland's Central Bank's foreign exchange reserves to reduce, indicating that Switzerland's Central Bank may take advantage of the euro against the Swiss franc rose to reduce some reserve, so as to make it easier to manage the balance sheet. Euro against the Swiss franc will not be significantly higher than 1.25 francs.

Germany commercial bank expected euro-dollar will fall, resistance level at US $ 1.393. It predicts that the exchange rate fell to a low of 1.336 dollars at end-September, then October low $ 1.3145. The first resistance level at $ 1.3831 a 20-day moving averages.
http://stock.sohu.com/20111108/n324959436.shtml

November 2, 2011 Investors waiting for Greece debt problem progress,

as well as Federal Reserve policy meeting. Risk currencies collapse in maintaining for the past two days of revision after a modest rebound. Franco-Greek emergency meeting has been held. Although Europe still insists on looking forward to Greece receiving assistance agreement, but have shown signs of impatience, and Greece calls to leave the Eurozone high. Former Federal Reserve Chairman Alan Greenspan said on November 2, since North-South divide in the euro zone, the euro is doomed to disappear.
Cautious market sentiment, risk currencies collapse in maintaining for the past two days of revision after rebound, but the price is less than 1%, more moderate. The dollar index dropped more than 0.6% per cent below the mark; the EUR/USD rises near 0.74% per cent mark.
France Prime Minister Fillon on Wednesday (November 2), the Prince must decide whether you want to stay in the Eurozone as soon as possible; to Greece deplores the unilateral decision of the Prime Minister Kuan Kung's vote; Europe impossible for Greece referendum, wait a few weeks. Days earlier he had said that France Greece perform salvage agreement reached at last week's EU Summit still have the determination.
EFSF Wednesday (November 2) that, due to market turmoil and delay the issue of a new 3 billion Euro bond; occurred in Greece's political upheaval, people have always been evading Greece greatly increasing the possibility of a debt default; requires Greece leave the Eurozone grew louder and louder.
Political turmoil suddenly Greece debt default possible, Greece also began to consider whether we should give up has 10 years of the euro, to return to their former currency Drachma (Drachma). According to Greece newspaper, Kathimerini, a recent survey, 66% Greece believe that reuse Greece currency drachma was bad. But out of the euro's supporters say, in fact, more and more of Greece who began to question the euro. London University of Greece Costas Lapavitsas, an economist said, "Greece should leave the Eurozone generally view than thought. Only mainstream voices of opposition. ”
In addition, according to people familiar with Wednesday (November 2) revealed that Italy Prime Minister Silvio Berlusconi will be 3:00 on Thursday Beijing time (1900 GMT) held a special cabinet meeting to discuss the new economic measures, and possibly before the G20 Summit announced that these new measures. G20 meeting from Thursday (November 3) in France held in Cannes. Italy holds this meeting because Italy yields more than 6.5% on Tuesday, Italy/Germany poor 10-year government bond yields since the euro's highest level.
Europe still insists on looking forward to Greece receiving assistance agreement
Greece referendum, Franco-Greek emergency meeting has been held. Europe still insists on looking forward to Greece to accept aid. G20 official on Wednesday (November 2) to weigh in early trading in New York, Greece referendum must "agree" to avoid disaster.
Germany Angela Merkel on Wednesday (November 2) in early trading in New York, and Greece the Prime Minister held a talk on referendum; and Greece transcript of the Prime Minister declined to comment; we want implementation of Greece rescue plan, we need to position. European leader’s hope that the implementation of the Brussels meeting (October 26-Summit) reach a decision on.
European Commission President José Manuel Barroso called on Greece showed the Government's determination to achieve EU/IMF plan. Mr. Barroso said, there is no EU/IMF plan, Greece a sharp deterioration of the environment of the population, failing to successfully implement EU/IMF programme results difficult to expect.
Germany Government spokesman on Wednesday (November 2) and Greece must show responsibility in return for international solidarity; Eurozone finance ministers must next Monday (November 7) discussed Greece funding; Eurozone leaders, the IMF is discussing the Greece bailout measure schedules. Analysts noted that November 7 was the Eurozone finance ministers and Central Bank Governors meeting, previously scheduled to be finalized at the meeting of October 26-the details of the agreement on the Summit, but Greece complicate the disturbance of the referendum, giving his details to be finalized at risk.
Germany Treasury spokesman on Wednesday (November 2) that, before the referendum on whether to Greece paid a sum of payments under still uncertain; Greece next payments have not been paid for Greece need to previously obtained in mid-December.
France Minister of European Affairs Leonetti Wednesday (November 2), Greece to the euro referendum on aid must be made as soon as possible; Greece Parliament will feel more at ease with the euro assistance Protocol. Asked about the "Greece referendum is required in the forward line in mid-December" Shi, Leonetti said before that time the referendum is important. He also said the euro will undoubtedly have to renegotiate Greece rescue plan.
Austria's Finance Minister Fekter Wednesday (November 2) that, further to pay aid to Greece the possibility is very high; the Eurozone needs to continue to implement the agreements reached; referendum raises Greece defaulting was very worried; want to carefully listen to the IMF and the European Central Bank on coagulation Greece the evaluation of the situation.
Resolutions of the European Central Bank, the Federal Reserve's expected
A two-day Federal Reserve on the interest rate will be concluded today, in Beijing on Thursday (November 3) publication results, Fed Chairman Ben Bernanke (Ben Bernanke) hosted a press conference in Beijing on Thursday 2:15.
KBC Bank Bank analysts said in Brussels, their original forecast for this week's fed meeting and the European Central Bank will not have any initiative, but reproduction in the financial markets turmoil, the FOMC and the European Central Bank take measures to increase the possibility of unexpectedly.
These analysts said the market seems to be falling cliffs at any time when Governments and central banks often feel obliged to take some action. Sometimes the action is helpful, but under the influence of law of diminishing, hastily introduced solutions effects will quickly subside.
But many economists expect the fed to maintain the existing policy remains unchanged. Investment organization Capital Economics Economist baoluo·aixiwosi (Paul Ashworth) said the Fed most likely option is to be forward-direction became more clear, commitments before the unemployment rate down to a specific level continue to maintain near-zero short-term interest rates unchanged.
Switzerland Credit (Credit Suisse) in New York, United States Economist Dana Saprta pointed out that the QE3 seems ready, this time will focus on the acquisition of mortgage-backed securities. Most likely situation is that the Fed meeting is designed for QE3 consensus-building, lay the Foundation for the final asset purchase program.
Ireland's Finance Minister Peggy Noonan (Michael Noonan) on Wednesday (November 2) expect the European Central Bank will cut interest rates in the coming months, is expected to downgrade index 25-50 basis points in interest rates before the end of the year, early next year, the Central Bank will lower interest rates by 75 basis points. However, Peggy Noonan that, expect the European Central Bank's new Governor (Delacquis) does not in its first resolution announced interest rate cuts. He also claims that, in view of Greece decision referendum held about Europe's debt problems, set off waves, the European Central Bank (ECB) in addition to purchased Eurozone issues bonds in the secondary market has no choice.
Eurozone data to the ECB rate cut new grounds. Published on November 2, survey data show that euro-zone October Market purchasing managers ' index (PMI) the final value to 47.1 per cent, lower than expected and the initial value. Recorded a third consecutive month below blight demarcation point 50 levels, and its output data and new orders are most weak performance since the middle of 2009. Indicated that the Eurozone is moving into a new recession, facing need further interest rate cuts by the European Central Bank under pressure.
http://forex.hexun.com/2011-11-02/134822367.html

Details lacking European debt agreements were questioning 40% EFSF bond-locking in Asia

October 29, 2011 China's window

"Hong Kong commercial daily" EU and Eurozone Summit Thursday morning time European debt crisis reach a package deal, the world's major economies are welcome. This good news day greatly boost global stocks. But analysts believe that the agreement reached between the European countries only in the short term stability in financial markets, reducing the European debt crisis spillover risk, but the real risk is not eliminated. Affected by this, the euro edged lower on Friday.
A positive response from the market or Flash in the Pan
Since the new agreement reached did not provide much detail, this means that the formulation of specific programmes is likely to take several weeks or even months. Furthermore, the lack of details also led to plan when to perform is not known, many economists warn that the market reaction may be short-lived.
ECB officials doubt the effect of a new agreement in particular. Germany Bank, ECB Management Board Elettra Rossellini Wiedemann would warn that European leaders to improve relief fund efficiency using financial instruments is many people believe cause 2008 financial crisis beginning those tools. He noted that the envisaged these leverage with certain origins similar to the crisis, as they are to be temporarily hides risks.
France Foreign Trade Bank analyst Defauce said he did not think that European leaders recommended tool to eliminate once and for all European debt crisis spillover risk. By rights, address the programme after the introduction of European debt crisis, difficulties in financing State bond yields will be a few percentage points, but on Thursday morning the reaction in the bond market, Italy 10-year government bond yields have not collapsed.
France Coant, Director of National Center for scientific research, scientific research indicates that, in accordance with the agreement reached by the European leaders, Greece debt will be written down 50%, which means about ten years later, Greece of public debt to GDP ratio will fall to 120%, but it had led to Italy run into financial difficulties.
EFSF CEO Asia trip, there is fruit
The other hand, the European leader in the European financial stability Fund (EFSF) expansion to consider establishing one or several special purpose tool to attract, including China and Russia and other countries for foreign investors, and thus fund the EFSF. EFSF's Chief Executive, Mr. Regling said Friday trip to China, then will also travel to Japan for support.
Mr. Regling said Friday's news briefing held in China, said that EFSF 40% plans to issue bonds by Asian investors, other 60% will be purchased by non-Asian region, including Europe. He said EFSF so far the only requirement was to persuade investors to purchase bonds. It was to design some derivative, but has not been formed.
Mr. Regling said also pointed out that will provide investors with good financial products, hoped that the Agency's bonds to become security investment channel of China's foreign exchange earnings. He said: "as everyone knows, China investments have special needs, China is also the EFSF bond buyers, at which time the EFSF itself also in the development of new projects to attract investors. 」
Analysts point out that Mr. Regling said Asia trip may not immediately show results, because China has already highlighted, only through the International Monetary Fund (IMF) and the "BRICS" 3 countries Brazil, and India and Russia jointly funded ways.
http://www.hkcd.com.hk/content/2011-10/29/content_2833489.htm

October 26, 2011

About the European debt crisis, anecdotes circulated on this story, the Germans and the French, heads together to solve Europe's problems. Frenchman wore selfish calculations, thinking of our economies than Germany narrowly missed, why not let Germany assume more risks? The Germans thought we so industrious, but keeps so much lazy Europeans. Thus, Franco-German attempts to pull Brazil or Chinese who resolve the issue. Brazil refused to direct aid, Chinese ambiguous attitude.

Now the story is, will hold a second round of the European Union Summit on Wednesday, trying to do our best to save Europe from peril. Market hopes China save

Stories about European debt crisis relief, almost from day one. But what is strange is that you can't figure out which stories the mark. When the EU Summit to be held on Wednesday for the second time a few hours before, Europe has not reached any agreement on EFSF leverage, even convincing spread rumors.

Most ironic of all, the EU would like to introduce the so-called BRIC countries to finance the "wishes" is also directly in vain. It is reported that on Tuesday, leaders from the 25 EU Member States Belgium held a meeting to discuss solutions to the European debt crisis, while Italy and Spain proposed that China and Brazil, the cash-rich emerging markets, European sovereign bonds to buy into debt problems. In this regard, Brazil responded that Finance Minister GuidoMantega directly, European countries should rely on their ability to resolve the debt crisis, Brazil will not be buying the country's sovereign bonds. However, Mantega is not to say die. He said that, you may consider the adoption of the International Monetary Fund (IMF) provide funds indirectly provided assistance to Europe.

Brazil so stand, China can the timely assistance of general interest in the market? The daily economic news reporter noted yesterday (October 26), a Chinese Foreign Ministry Spokeswoman Jiang Yu said, "on the resources of the International Monetary Fund, we believe that increasing share is the key to expand IMF resources. We call on all parties as requested by the meeting in Seoul, the early implementation of share reform objectives. "In fact, after rumors that China is willing to help EU enlargement by IMF bailout scale. But the news there has not been officially confirmed.

Interesting things here. According to a foreign news agency reports, European financial stabilization mechanism (EFSF) KlausRegling on October 28, Chief Executive visit to China, to meet with potential bond buyers. In response, the EFSF, spokesman ChristofRoche said this is a normal round of important investor meeting.

"Most likely to be reached, as China-Italy, China – Belgium types of agreement", a senior bank researcher Sheehan said that "China wants to speed up the purchase on the basis of European companies and related assets. In some cases, you may see as by special purpose companies (SPV), China will buy like Greece and other countries of State-owned assets. ”

However, Asia Eurasia Group analysts NicholaSConsonery still cautiously. In his view, for some reason, China to Europe to spend how much money will be restricted. China may not want to be seen as the saviour of Europe. All in all, China to rescue European banks is not a very safe. Market in the Eurozone is still pessimistic, however, on the eve of the European Union is about to begin the second round of Summit, still full of pessimistic mood in the market.

Former Federal Reserve Chairman Alan Greenspan criticized called, into one of the currencies of several countries provided that the culture is similar, such as Germany and the Netherlands and Austria, but Eurozone facts contrary, southern Europe and Northern Europe the cultural gap is too big, but fiscal policy is difficult to reconcile, destiny has from the outset in the euro zone is destined to die out.

This reporter learned that, worse is that now even the EU's own internal, there have been questions about Summit can agree on. European Union official who took part in the Summit pointed out that, today in the 27-nation bloc has 10 do not have the euro as the national currencies of the countries. Because of previous European Summit does not enhance the EFSF's agreement introduced, these leaders stand opposing bank restructuring plan. Therefore, in order to avoid embarrassment of no consensus, 27 EU Finance Ministers meeting was ultimately cancelled. And for the next station as the final discussion of the Summit on Wednesday, he pessimistically expressed serious doubt that European leaders can agree on.

Today the daily economic news reporters interviewed macro-analysis Division securities Yuan Xiuming, Yuan Xiuming, through the so-called BRIC countries to fund European EFSF is very funny, this could not save Europe. Now the situation in Europe, reflecting that year United Kingdom's decision not to participate in the euro zone is wise. It at the time saw the unified European monetary policy, fiscal policy separate from approaches no longer followed, select Exit. Therefore, in this crisis was spreading in small. So the European debt crisis to move toward the ultimate relaxation, you also need to change the present fiscal policies in Europe, and not count on outside help.

China Merchants Bank senior Forex research fellow Liu Dongliang, you point out to the daily economic news reporter. Great exposure as an increasingly clear, situation better clear the Nordic countries, Greece, a series of debt the State was impossible with the help of their bail, existing to the difficult national blood transfusion to help its recovery of hematopoietic function approach, would be a stopgap. Therefore, Germany, Finland and China, will try to protect themselves financially, it is not possible on invested large sums of money to the EFSF. He expected next year, France, Italy, Germany, held after the general election, cracks will gradually expand in Europe. If reproduced please contact the business daily newspaper. Without the daily economic news newspaper authorization, is prohibited to reprint or mirror, offenders.
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