19 Responses to U.S. meets with Eurozone finance ministers to head off Greece default

  1. Dennis E. says:

    I read a comment that the money from Qe1 or was it Qe2, went to Banks in Europe to keep them
    from crashing. I wonder if some of the stimulus money went to overseas.

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  2. zorar says:

    I read on another site a while ago that the feds were being audited and it was found out that most of the bailout money was tracked to over sea banks in other countries.but nothing has been said on tell a lie vision about it though.

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  3. luisport says:

    Frankfurt am Main, September 16, 2011 — Moody’s Investors Service is continuing its review for possible downgrade of Italy’s Aa2 local and foreign currency government bond ratings.

    RATINGS RATIONALE

    Moody’s initially placed Italy’s bond ratings on review for possible downgrade on 17 June 2011. The main drivers that prompted the rating review are:

    (1) Economic growth challenges due to macroeconomic structural weaknesses and a likely rise in interest rates over time;

    (2) Implementation risks surrounding the fiscal consolidation plans that are required to reduce Italy’s stock of debt and keep it at affordable levels; and

    (3) Risks posed by changing funding conditions for European sovereigns with high levels of debt.

    In light of the increasingly challenging economic and financial environment and fluid political developments in the euro area, Moody’s is continuing to evaluate Italy’s local and foreign currency bond ratings in the context of the risks identified. Moody’s will strive to conclude the review within the next month.

    http://www.zerohedge.com

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  4. luisport says:

    zerohedge zerohedge
    Bailout Rebellion in Germany Heats Up http://bit.ly/rjKGco
    há 7 horas

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  5. Well, when the U.S. is printing fiat money to fund the IMF to bail out Europe —- you know the world is in trouble and that collapse is imminent. The U.S. is the largest contributor to the IMF with a quota of about 17.72%

    U.S. National Debt: 14,733,176,982,833 trillion
    Total U.S. Debt: 54,857,374,328,498 trillion

    Source: http://www.usdebtclock.org/

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  6. luisport says:

    BreakingNews Breaking News
    More: Greek media reports PM cancels US trip because of the gravity of his country’s financial crisis – AP http://bit.ly/pOoe7S
    há 50 minutos

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  7. luisport says:

    Did Papandreou Just Get The Worst Possible News?
    Submitted by Tyler Durden on 09/17/2011 11:36 -0400

    Eurozone George Papandreou Greece International Monetary Fund

    Did everyone’s favorite pathologically lying Prime Minister finally get the long overdue bad news? After yesterday Bloomberg released the following succinct statement… “Greek Prime Minister George Papandreou will meet with International Monetary Fund Managing Director Christine Lagarde in Washington on Sept. 20, according to an e-mailed statement from the premier’s office in Athens. On the same day, Papandreou will also meet with U.S. Treasury Secretary Timothy F. Geithner, according to the statement. Papandreou will visit New York and Washington from Sept. 18 through to Sept. 23, and will speak at the United Nations General Assembly, the email said.” BBC News now follows it up with…. “Greek Prime Minister George Papandreou has cancelled a visit to the US because of the seriousness of the country’s debt crisis, Greek media reported, quoting government sources. State TV said he decided to return home after consultations with Finance Minister Evangelos Venizelos. Mr Papandreou planned to attend the UN General Assembly and IMF meetings. The decision comes a day after eurozone ministers delayed a decision over debt-ridden Greece’s next bailout loan.” Having acted like a petulant child most of his political career, did G-Pap just pull the final act and “retaliate” at the IMF and the US for snubbing him in the only way he knows – by refusing to grant Timmy G and Lagarde an audience? In the meantime, Europe believes it is ready to cut the cord with Greece…

    Here is the official statement.

    Never a dull weekend.

    http://www.zerohedge.com/news/did-papandreou-just-get-worst-possible-news

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  8. luisport says:

    BreakingNews Breaking News
    Protesters prepare to ‘Occupy Wall Street’; Reports of police barricades near NY Stock Exchange, bull. Photos: http://bit.ly/nSnFp0
    há 4 minutos

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  9. luisport says:

    A few hours ago Timothy Geithner was in Poland promoting his plan for a EuroTARP, while Greek PM George Papandreou was preparing to fly to New York for meetings with the U.N. and the IMF.

    But something went wrong.

    Geithner’s meeting ended in discord with no pledge to recapitalize banks.

    Papandreou canceled his trip after talking to Finance Minister Evangelos Venizelos, who had been in Poland with Geithner, planning instead to return to Greece.

    “The prime minister judged that he should not be away. He wants to ensure that all of Greece’s commitments (to its European Union partners) are fulfilled,” government spokesman Ilias Mossialos told Reuters.

    Greece meets with the Troika next week to secure the next $8 billion loan tranche. Rumor has it that the Troika wants harder austerity measures.

    Read more: http://www.businessinsider.com/papandreou-cancel-geithner-poland-2011-9#ixzz1YEbzijot

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  10. luisport says:

    BreakingNews Breaking News
    Greek opposition leader calls for snap election – @Reuters http://reut.rs/oOiinr
    há 2 minutos

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  11. luisport says:

    Legendary hedge fund manager George Soros has a plan to solve the ongoing euro zone debt crisis.

    “To resolve a crisis in which the impossible becomes possible it is necessary to think about the unthinkable,” Soros wrote in an excerpt from his book.

    But first, Soros says it’s important to be prepared for possible default from the eurozone in the case of Greece, Portugal and maybe even Ireland.

    Here’s the four measures that Soros says need to be taken to avert a meltdown.

    Bank deposits have to be protected.
    Some banks in the defaulting countries have to be kept functioning in order to keep the economy from breaking down.
    European banking system would have to be recapitalized and put under European, as distinct from national, supervision.
    The government bonds of the other deficit countries would have to be protected from contagion. (The last two measures would apply even if no country defaults, according to Soros)
    The problem is Europe is missing the key ingredient — a common treasury.

    Soros says his four measures would cost money and the only alternative is to create a European treasury with the authority to tax and subsequently borrow.

    In order to do this, Soros writes, there would have to be a new treaty that would transform the European Financial Stability Facility (EFSF) into a “full-fledged treasury.”

    Read more: http://www.businessinsider.com/george-soros-plan-to-avoid-eurozone-meltdown-2011-9-16#ixzz1YF0Apghw

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  12. luisport says:

    CNNMoney CNNMoney.com
    por BreakingNews
    Here’s the latest news on @CNNMoney regarding the #OccupyWallStreet and #TakeWallStreet protests from @julpepitone http://cnnmon.ie/qGAFiL
    há 7 minutos

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  13. nickk0 says:

    Great idea !! 😛

    But it seems that’s what’s being proposed, huh ??

    – Nick

    Like

  14. Kim says:

    The protestors on Wall Street- I think this is only a beginning of protests in America. Football is a big distraction for most at the moment (at least, where I live) Only the beginning of these protests. I keep seeing people on the streets where I live with signs needing food, diapers for their children. We have a lot of people who help give out food like many Churches in the area and non profit organizations. But I just wanted to say that I have lived in my city for many years and this is the first time that I have ever seen so many people with signs asking for help (all types of people young, old, etc.)

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  15. luisport says:

    None of the news coming out of Greece this weekend has been reassuring, starting with the dramatic development whereby George Papandreou had to turn his plane around, while en-route to DC, in order to attend to matters back in Athens.

    Now, according to a Greek newspaper (via Matina Stevis) the troika (EU, ECB, IMF) is demanding the Papandreou government sack another 100,000 public sector workers over the next two years in exchange for the next tranche of bailout money. The Troika is also demanding deeper pension cuts than had been planned to.

    Further compounding worries is that the troika will not be heading to Athens as planned on Monday, and instead will be doing a teleconference.

    All in all, markets will be opening on Monday (most likely) without any sense that things are closer to resolved. In fact the opposite, since last week it looked like the next tranche of the first bailout was a done deal.

    Read more: http://www.businessinsider.com/troika-reportedly-demands-another-100000-public-sector-workers-in-greece-2011-9#ixzz1YJ2hvwbP

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  16. luisport says:

    In a movement meant to rival change wrought by the Arab Spring, Kalle Lasn of the counterculture magazine AdBusters, organized a Twitter led protest Saturday called Occupy Wall Street.

    In response, thousands gathered in New York’s Financial District.

    The Wall Street subway station stairwell was closed on one side, as multiple blocks around Broadway and Wall Street were cordoned off and bound by a heavy police presence.

    Endorsed by the hacking group Anonymous, the police were taking no chances. But looking at an army of bored officers racking up overtime, the general response was summed up by one young New York City officer: “If you find the protest, let us know, because we haven’t heard a thing about it since we got here.”

    Read more: http://www.businessinsider.com/anonymous-occupy-wall-street-2011-9#ixzz1YKemujGw

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  17. luisport says:

    Interactive Infographic Of The Doomed European Financial System
    http://www.zerohedge.com/news/interactive-infographic-doomed-european-financial-system

    Like

  18. luisport says:

    SkyNews Sky News
    por zerohedge
    THE DAILY TELEGRAPH FRONT PAGE Tory MPs demand referendum on Europe #skypapers http://twitpic.com/6n0lt7
    há 4 minutos

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