Despite Thursday's unexplained surge in selling that drove the Dow down 900 points, the stock markets are being driven lower by fears over the global economy and the debt crisis spreading, economist Nouriel Roubini, of RGE Monitor, told CNBC Friday.
The suspected erroneous trades that exacerbated the Wall Street's fall on Thursday should be investigated and solutions must be found if the New York Stock exchange is to maintain its reputation, investor Jim Rogers told CNBC late Thursday.
'Eurocrats' can't see the fanciful construction of the euro is going to collapse, just like the 1930s gold bloc, says this economist.
Panic has gripped stock markets worldwide over the Greek debt crisis and the threat of a debt-deflation contagion through banks in Europe (primarily) and the U.S. that own the bonds of Greece, Portugal, Spain, and so forth. If these bond asset prices collapse totally, lending facilities would be badly crimped for both the short and long term.
Lazard has been hired to assist Greece with its finances. The speculation is Lazard has been hired to assist Greece with a restructuring of its debt. That, of course, has been denied. These guys always deny, deny, deny until it's done.
Once passed, the bill will be signed into law and then presented to the Euro Zone meeting on Friday night. There is likely to be a constitutional challenge to the agreement, but this will not impede the flow of money to Greece.
The ink was barely dry on the $150 billion EU/IMF bailout of Greece when world stock markets tanked on two major fears.
Last Friday, I stated that the vote this week on Friday in Germany was analogous to what occurred in the US Congress leading up to the TARP vote. The uncertainty would drive down the Euro and raise questions over the viability of the union. Now, we’re seeing another aspect arise: attempting to scare the German politicians into voting yes.
The market is already beginning to ask if the German public and the EU have the stomach for a rescue package for Portugal, Spain, Ireland and even for Italy.
Despite the agreement over the weekend to aid Greece, stocks are down sharply again today on similar fears as other nations, especially Portugal and Spain, are also facing severe debt issues. The whole situation also brings into question the strength of the euro currency.
Financial regulations could significantly influence UBS' profitability in both the near and long term and they will constrain the Swiss bank from resuming dividend payments, CFO John Cryan told CNBC Tuesday.
For now, Greece has been saved but at what cost? The sums involved are staggering and could have been much lower if the euro zone's governments had appreciated the size and scale of the problem earlier and learned the lessons of history.
Despite yields on Greek debt falling after the bailout deal, analysts and investors warn that there are still pitfalls that could threaten the single European currency.
Hesse Prime Minister Roland Koch said Monday he sees no danger that the Greek bailout could be stopped by constitutional challenge.
European officials are finally getting spurred into action by the danger of contagion and sources in the City say Greek debt is a screaming buy.
While the EU/IMF/ECB continuing to work towards an agreement on Greece, my thoughts turn to the voting that will occur next week in Germany.
Had Frau Merkel listened to Herr Schaeuble from the beginning, a lot of time and money would have been saved.
While Portugal and Spain are the most recent targets of S&P downgrades, Italy or even Ireland could be next.
With dramatic headlines of Greek troubles spreading and the euro hitting fresh lows against the dollar, the situation grows more critical each day. But today's news only highlights a part of the problem.
The market is highly skeptical about a rescue which was only emphasized by Standard and Poors downgrading the rating on Greece to "junk." Wow guys, way to be timely.