BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Chasing Value: GE Reports -- Good News, Finally?]]>http://www.bloggingstocks.com/2010/10/15/GE-earnings/http://www.bloggingstocks.com/2010/10/15/GE-earnings/http://www.bloggingstocks.com/2010/10/15/GE-earnings/#commentsFiled under: , , , , , , ,

General Electric (GE) logoShort and sweet -- General Electric (GE) reported higher profits on slower sales with a positive outlook.

The company reported earnings of $3.2 billion, with EPS of 29 cents, up 32% from the third quarter of 2009. This is the second quarter (oh boy, a streak!) GE increased orders, displaying continuing-earnings growth. Revenue was $35.9 billion for the quarter, down 5% on lower equipment sales and reduced GE Capital assets. GE expects fourth-quarter 2010 Industrial revenues to grow sequentially from third quarter and to be about flat with the year-ago period.

Continue reading Chasing Value: GE Reports -- Good News, Finally?

Chasing Value: GE Reports -- Good News, Finally? originally appeared on BloggingStocks on Fri, 15 Oct 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ChasingValueEarnings reportsfeaturedGE earningsgeneral electricgermanyinthenewsJeffrey ImmeltProfitsWarningFri, 15 Oct 2010 10:00:00 EST<![CDATA[At G-20, U.S. And Germany May Argue Offer Fiscal Policy Stances]]>http://www.bloggingstocks.com/2010/06/21/at-g-20-u-s-to-emphasize-stimulus-germany-deficit-reduction/http://www.bloggingstocks.com/2010/06/21/at-g-20-u-s-to-emphasize-stimulus-germany-deficit-reduction/http://www.bloggingstocks.com/2010/06/21/at-g-20-u-s-to-emphasize-stimulus-germany-deficit-reduction/#commentsFiled under:

At the G-20 summit in Toronto later this week, a battle may surface between the "immovable object" and the "irresistible force." Germany and the United States are at odds concerning the world's proper public policy stance at this stage of the financial crisis.

Germany is emphasizing that credit market and economic conditions are healthy enough to move forward with deficit reduction and related stimulus exit strategies, Bloomberg News reported Monday.

Continue reading At G-20, U.S. And Germany May Argue Offer Fiscal Policy Stances

At G-20, U.S. And Germany May Argue Offer Fiscal Policy Stances originally appeared on BloggingStocks on Mon, 21 Jun 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bond vigilantesdebt crisisEuropefiscal stimulusG-20GermanyinthenewsMon, 21 Jun 2010 16:40:00 EST<![CDATA[Germany Wants Wider Ban on Naked Short Selling]]>http://www.bloggingstocks.com/2010/05/25/germany-wants-a-wider-ban-on-naked-short-selling/http://www.bloggingstocks.com/2010/05/25/germany-wants-a-wider-ban-on-naked-short-selling/http://www.bloggingstocks.com/2010/05/25/germany-wants-a-wider-ban-on-naked-short-selling/#commentsFiled under: , , ,

In yet another surprise move, Germany wants to widen its ban on naked short selling. According to the Wall Street Journal, Germany's Finance Ministry proposed extending its ban on "naked short selling" to cover all stocks and euro currency derivatives not intended for hedging.

Naked short sales covers sales not owned by the seller and isn't borrowed to cover the position while it is held. Many politicians in Germany see naked short selling as a way to manipulate the markets. What happens is that naked short sales can dwarf the underlying assets.

Continue reading Germany Wants Wider Ban on Naked Short Selling

Germany Wants Wider Ban on Naked Short Selling originally appeared on BloggingStocks on Tue, 25 May 2010 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>europegermanyinthenewsnaked short sellingshort sellingTue, 25 May 2010 18:30:00 EST<![CDATA[Analyst Says Weaker Euro May Prevent European Recession]]>http://www.bloggingstocks.com/2010/05/20/analyst-says-weaker-euro-may-prevent-european-recession/http://www.bloggingstocks.com/2010/05/20/analyst-says-weaker-euro-may-prevent-european-recession/http://www.bloggingstocks.com/2010/05/20/analyst-says-weaker-euro-may-prevent-european-recession/#commentsFiled under: ,

Will the euro's decline in value prevent a dreaded euro-zone recession? That's the conclusion of one analyst.

"The euro depreciation is very good news for the region" because the rest of the world economy is expanding, Charles Wyplosz, head of the International Center for Monetary and Banking Studies in Geneva, told Bloomberg News Thursday. "This is going to bring a welcome boost that may save the euro-zone from outright recession."

Continue reading Analyst Says Weaker Euro May Prevent European Recession

Analyst Says Weaker Euro May Prevent European Recession originally appeared on BloggingStocks on Thu, 20 May 2010 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollareuroexportsFranceGermanyinthenewstradeThu, 20 May 2010 16:00:00 EST<![CDATA[Great, Germans Halt Naked Short Selling]]>http://www.bloggingstocks.com/2010/05/19/great-germans-halt-naked-short-selling/http://www.bloggingstocks.com/2010/05/19/great-germans-halt-naked-short-selling/http://www.bloggingstocks.com/2010/05/19/great-germans-halt-naked-short-selling/#commentsFiled under: , , , , , , , , , , ,

The financial stocks and the overall market continued to get pounded by news out of Europe. This time it was Germany halting naked short selling. Chancellor Merkel's coalition wants to stop traders from buying credit insurance on government bonds they don't own ("naked swaps").

While there has been little support for this measure outside of Germany by governments or financial institutions, I think it is long over due. Many are crying foul, stating that it will increase interest rates, dry up liquidity, and prevent institutions from hedging their risks. I'm not so sure these would be bad things. I can think of good reasons to ban naked swaps.

I do not take this stance without due consideration because I have significant stakes in the financial sector, including positions in Bank of America Corporation (BAC), Citigroup, Inc. (C), E-Trade Financial Corporation (ETFC), General Electric Company (GE), Goldman Sachs Group, Inc. (GS) and Wells Fargo & Company (WFC).

Continue reading Great, Germans Halt Naked Short Selling

Great, Germans Halt Naked Short Selling originally appeared on BloggingStocks on Wed, 19 May 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BACBank of Americaetfcetradefeaturedgeneral electricgermanyGoldman SachsgskinthenewsNaked Short Sellingnaked swapsriskSheldon LiberWells Fargo BankWFCWed, 19 May 2010 18:00:00 EST<![CDATA[Closing Bell: Europe Keeps Feeding the Bears (HPQ, VRSN, WMT, HD, LOW)]]>http://www.bloggingstocks.com/2010/05/18/closing-bell-europe-keeps-feeding-the-bears-hpq-vrsn-wmt-hd/http://www.bloggingstocks.com/2010/05/18/closing-bell-europe-keeps-feeding-the-bears-hpq-vrsn-wmt-hd/http://www.bloggingstocks.com/2010/05/18/closing-bell-europe-keeps-feeding-the-bears-hpq-vrsn-wmt-hd/#commentsFiled under: , ,

The red coats are coming! This time they are from continental Europe. Today's drop was tied to tighter financial reform and a ban on naked short selling in Germany. Oh well, an excuse is an excuse. PPI did not even matter because of the price drop in oil of late, and we did see housing starts were up, but building permits were down.

Here were today's closing bell levels:

S&P 500 1,120.80 -16.14 (-1.42%)
Dow 10,510.95 -114.88 (-1.08%)
Nasdaq 2,317.26 -36.97 (-1.57%)

Continue reading Closing Bell: Europe Keeps Feeding the Bears (HPQ, VRSN, WMT, HD, LOW)

Closing Bell: Europe Keeps Feeding the Bears (HPQ, VRSN, WMT, HD, LOW) originally appeared on BloggingStocks on Tue, 18 May 2010 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>europegermanyHDhousing startsHPQLOWppiWMTTue, 18 May 2010 16:30:00 EST<![CDATA[Sarkozy Reportedly Threatened to Pull France out of Euro-Zone]]>http://www.bloggingstocks.com/2010/05/14/sarkozy-reportedly-threatened-to-pull-france-out-of-euro-zone/http://www.bloggingstocks.com/2010/05/14/sarkozy-reportedly-threatened-to-pull-france-out-of-euro-zone/http://www.bloggingstocks.com/2010/05/14/sarkozy-reportedly-threatened-to-pull-france-out-of-euro-zone/#commentsLast weekend French President Nicolas Sarkozy reportedly threatened to pull France out of the euro-zone if Germany did not agree to a comprehensive stabilization package for Greece, Agence France-Presse reported Friday, citing Spain's El Pais.

Spanish Prime Minister Jose Luis Rodriguez Zapatero reported Sarkozy's remarks to a meeting of leaders of his Socialist Party on Wednesday. However, a government source in Madrid denied the Sarkozy incident, telling the AFP that it is "lacking in any foundation."

Continue reading Sarkozy Reportedly Threatened to Pull France out of Euro-Zone

Sarkozy Reportedly Threatened to Pull France out of Euro-Zone originally appeared on BloggingStocks on Fri, 14 May 2010 15:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>debt crisisdollareurofeaturedFranceGermanyGreeceinthenewsSarkozyFri, 14 May 2010 15:30:00 EST<![CDATA[Dow Jones Falls Below 11,000]]>http://www.bloggingstocks.com/2010/05/04/dow-jones-falls-below-11-000/http://www.bloggingstocks.com/2010/05/04/dow-jones-falls-below-11-000/http://www.bloggingstocks.com/2010/05/04/dow-jones-falls-below-11-000/#commentsFiled under: ,

As soon as the opening bell sounded this morning, the Dow Jones Industrial Average (DJIA) plummeted more than 150 points - effectively ruining yesterday's 143-point gain. In fact, as I write this blog, the Dow fell past a 200-point loss.

Why the drop? Blame it on Greece, as the euro fell against the dollar thanks to worries that the Greek government will not be able to meet the rather stringent guidelines of its aid package. Moreover, the German government is set to provide most of the EU's support, and there is no guarantee that the electorate will back Chancellor Angela Merkel. Add this to the fact that German retail sales dropped more than 2% in March, and we have a full-blown European panic hitting Wall Street.

Continue reading Dow Jones Falls Below 11,000

Dow Jones Falls Below 11,000 originally appeared on BloggingStocks on Tue, 04 May 2010 12:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Angela MerkelDJIADowDow JonesDow Jones Industrial AverageGermanyGreeceTechnical AnalysisTue, 04 May 2010 12:30:00 EST<![CDATA[Is the Eurozone History?]]>http://www.bloggingstocks.com/2010/05/04/is-the-eurozone-history/http://www.bloggingstocks.com/2010/05/04/is-the-eurozone-history/http://www.bloggingstocks.com/2010/05/04/is-the-eurozone-history/#commentsFiled under: ,

In an unexpected move, German chancellor, Angela Merkel, called for the "orderly insolvencies" of member states.

Germany says it wants to get tough on European Union members to prevent another Greek crisis. Germany has been against helping Greece, and only under pressure from the EU and the IMF did it agree to participate in the bailout.

Now, the Germans want to let member states default to avoid any repeat of the Greek crisis. What they fail to realize is that defaults are often messy and not orderly. What could happen is that confidence in the eurozone would disappear as would the euro.

Continue reading Is the Eurozone History?

Is the Eurozone History? originally appeared on BloggingStocks on Tue, 04 May 2010 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>defaultdollareurofeaturedgermanygreeceinthenewsmerkelportugalsovereign debtspainTue, 04 May 2010 10:00:00 EST<![CDATA[Aid Package to Greece Now Priority After Contagion Fear Rises]]>http://www.bloggingstocks.com/2010/04/29/greece-aid-package-to-now-priority-after-contagion-fear-rises/http://www.bloggingstocks.com/2010/04/29/greece-aid-package-to-now-priority-after-contagion-fear-rises/http://www.bloggingstocks.com/2010/04/29/greece-aid-package-to-now-priority-after-contagion-fear-rises/#commentsFiled under:

A day after signaling rigorous scrutiny of Greece's austerity plan, German Chancellor Angela Merkel did an about-face, of sorts, Wednesday, vowing a quicker approval of aid to the deficit-plague euro-zone country. Not before, however, the chancellor's earlier remarks rattled bond, currency and stock markets around the globe.

Standing beside International Monetary Fund Managing Director Dominique Strauss-Kahn, Merkel said, "It's completely clear that the negotiations between the Greek government, the European Commission and the IMF need to be sped up now," Bloomberg News reported Wednesday.

Continue reading Aid Package to Greece Now Priority After Contagion Fear Rises

Aid Package to Greece Now Priority After Contagion Fear Rises originally appeared on BloggingStocks on Thu, 29 Apr 2010 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollareuroGermanyGreeceimfinthenewsMerkelPortugalSpainThu, 29 Apr 2010 10:30:00 EST<![CDATA[Germany's Merkel Wants to Verify Fiscal Cuts Before Releasing Funds to Greece]]>http://www.bloggingstocks.com/2010/04/27/germany-s-merkel-verify-fiscal-cuts-before-releasing-funds-to-g/http://www.bloggingstocks.com/2010/04/27/germany-s-merkel-verify-fiscal-cuts-before-releasing-funds-to-g/http://www.bloggingstocks.com/2010/04/27/germany-s-merkel-verify-fiscal-cuts-before-releasing-funds-to-g/#commentsDespite market sentiment that suggests a Greek debt default is ahead, it won't occur if Europe remains on the path it laid out Friday when the Mediterranean nation asked for implementation the European Union's bail-out package. And that path includes tangible evidence by Greece, forwarded to German officials, that it's implementing the first phase of austerity measures.

German Chancellor Angela Merkel said "first I want to see the program," before Germany releases any funds to debt-plagued Greece, Bloomberg News reported Tuesday. Merkel's Christian Democratic party faces state-level elections in May at a time when most German citizens are opposed to the bailout.

Continue reading Germany's Merkel Wants to Verify Fiscal Cuts Before Releasing Funds to Greece

Germany's Merkel Wants to Verify Fiscal Cuts Before Releasing Funds to Greece originally appeared on BloggingStocks on Tue, 27 Apr 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollareuroGermanyGreeceinthenewsMerkelPortugalTue, 27 Apr 2010 16:40:00 EST<![CDATA[Goldman Sachs Faces Attacks from Britain and Germany]]>http://www.bloggingstocks.com/2010/04/19/britain-and-germany-attack-goldman/http://www.bloggingstocks.com/2010/04/19/britain-and-germany-attack-goldman/http://www.bloggingstocks.com/2010/04/19/britain-and-germany-attack-goldman/#commentsFiled under: ,

Germany considers charges against GoldmanThe furor over the fraud charges brought against Goldman Sachs (GS) is spreading across the pond. Britain and Germany have jumped into the fray.

British Prime Minister Gordon Brown launched a scathing attack on Goldman by saying that the SEC investigation of Goldman revealed the "moral bankruptcy" of the firm. "This is probably one of the worst cases we have seen," he said.

The German government is considering legal action against Goldman. German bank IKB was one of the first casualties in the collateralized debt obligations (CDO) scandal, losing $150 million.

Continue reading Goldman Sachs Faces Attacks from Britain and Germany

Goldman Sachs Faces Attacks from Britain and Germany originally appeared on BloggingStocks on Mon, 19 Apr 2010 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredGermanyGoldman Sachs fraudMon, 19 Apr 2010 09:00:00 EST<![CDATA[EU pledges $61 Billlion Support for Greece -- Germans Wise Up]]>http://www.bloggingstocks.com/2010/04/12/eu-pledges-61-billlion-support-for-greece-germans-wise-up/http://www.bloggingstocks.com/2010/04/12/eu-pledges-61-billlion-support-for-greece-germans-wise-up/http://www.bloggingstocks.com/2010/04/12/eu-pledges-61-billlion-support-for-greece-germans-wise-up/#commentsFiled under: ,

On Friday I sat at my desk ranting that Germany must help Greece without the International Monetary Fund. And over the weekend, the European Union finally drew up a plan to support its Greek brothers and sisters. This time, Germany is on board, bending to the ever-increasing pressure to do the right thing. However, the IMF was not left entirely out of the picture.

On April 11, the EU agreed to a Greek rescue package to subsidize Greek bonds at a 5% rate, about 20% less than current floating rates. The plan could cost 45 billion euros ($61 billion).

Continue reading EU pledges $61 Billlion Support for Greece -- Germans Wise Up

EU pledges $61 Billlion Support for Greece -- Germans Wise Up originally appeared on BloggingStocks on Mon, 12 Apr 2010 08:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>currency exchange rateEUEuroEuropean unionfeaturedGermanyGreek Bondsgreek debt crisisIMFInternational Monetary FundinthenewsMon, 12 Apr 2010 08:00:00 EST<![CDATA[Germany Must Help Greece Without IMF]]>http://www.bloggingstocks.com/2010/04/10/germany-must-help-greece-without-imf/http://www.bloggingstocks.com/2010/04/10/germany-must-help-greece-without-imf/http://www.bloggingstocks.com/2010/04/10/germany-must-help-greece-without-imf/#commentsFiled under: , , , ,

Angela MerkelGermany, the European Union member with the largest and strongest economy, should get off their high horse and support Greece, not the International Monetary Fund (IMF) -- which to a large extent is the United States.

Greece is on the brink of disaster and for some reason the German government, following the sentiments of the man on the street, is willing to let the chips fall where they may. They do not seem to be able to grasp that the EU ship can only sail in one direction at a time and that half a ship will not sail at all.

Continue reading Germany Must Help Greece Without IMF

Germany Must Help Greece Without IMF originally appeared on BloggingStocks on Sat, 10 Apr 2010 13:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>EUeuroEuropean unionfinancial crisisGermanygreecegreece bailoutIMFInternational Monetary FundinthenewsSat, 10 Apr 2010 13:40:00 EST<![CDATA[Euro Tumbles Against Dollar as Europe Debates IMF Aid for Greece]]>http://www.bloggingstocks.com/2010/03/24/euro-tumbles-against-dollar-as-europe-debates-imf-aid-for-greece/http://www.bloggingstocks.com/2010/03/24/euro-tumbles-against-dollar-as-europe-debates-imf-aid-for-greece/http://www.bloggingstocks.com/2010/03/24/euro-tumbles-against-dollar-as-europe-debates-imf-aid-for-greece/#commentsFiled under:

Wednesday's key developments in "As the Eurozone Turns."

Not more than 12 hours after officials had signaled that France and Germany were nearing an agreement on any potential International Monetary Fund involvement in the Greece crisis, the euro plunged more than 1 cent to a 10-month low against the dollar, on concern that Greece is going to default.

The euro weakened 1.46 cents versus the dollar to $1.3352 on Wednesday at mid-day. Paul Donovan, UBS Investment Bank's deputy head of global economics told Bloomberg News Greece "is going to default at some point."

Continue reading Euro Tumbles Against Dollar as Europe Debates IMF Aid for Greece

Euro Tumbles Against Dollar as Europe Debates IMF Aid for Greece originally appeared on BloggingStocks on Wed, 24 Mar 2010 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>angela merkelbundestagdollareurogermanyGreeceIMFinthenewspetalotisWed, 24 Mar 2010 16:00:00 EST<![CDATA[Greek Debt Exposes European DisUnion]]>http://www.bloggingstocks.com/2010/03/23/greek-debt-exposes-european-disunion/http://www.bloggingstocks.com/2010/03/23/greek-debt-exposes-european-disunion/http://www.bloggingstocks.com/2010/03/23/greek-debt-exposes-european-disunion/#commentsFiled under: , , , ,

The economic debate among the European Union nations about how to handle the turmoil in the Greek economy and, subsequently, the Greek bond market casts greater doubt on the value of the euro and the EU with each passing day -- and they know it!

While the economic benefits of the Union are obvious and highly valuable the turmoil has turned a giant spotlight on the problems and conflicts that exist and will continue to exist for another century or more if not solved in a way that not only works for the EU but does not diminish the Euro in the slightest way.

Continue reading Greek Debt Exposes European DisUnion

Greek Debt Exposes European DisUnion originally appeared on BloggingStocks on Tue, 23 Mar 2010 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Chancelor MerkelEUEuroeuropean unionFranceGermanyGreecegreek debt crisisinternational monetary fundTue, 23 Mar 2010 15:40:00 EST<![CDATA[France, Germany Split over Greece Stabilization Policy Widens]]>http://www.bloggingstocks.com/2010/03/22/france-germany-split-over-greece-stabilization-policy-widens/http://www.bloggingstocks.com/2010/03/22/france-germany-split-over-greece-stabilization-policy-widens/http://www.bloggingstocks.com/2010/03/22/france-germany-split-over-greece-stabilization-policy-widens/#commentsFiled under: , ,

Monday's key developments in "As The Eurozone Turns":

The Greek policy gap between Germany and France widened after German Chancellor Angela Merkel emphasized that the key to resolving Greece's fiscal crisis is Greece's austerity measures.

"I do not see Greece needs money at the moment and the Greek government has confirmed that," Merkel said, FT.com reported Monday.

Continue reading France, Germany Split over Greece Stabilization Policy Widens

France, Germany Split over Greece Stabilization Policy Widens originally appeared on BloggingStocks on Mon, 22 Mar 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dollareuroeurozonefrancegermanyGreeceinthenewsMon, 22 Mar 2010 18:00:00 EST<![CDATA[IMF Urges G-7 Deficit Reduction via Pension, Health Care Reform]]>http://www.bloggingstocks.com/2010/03/22/imf-urges-g-7-deficit-reduction-via-pension-health-care-reform/http://www.bloggingstocks.com/2010/03/22/imf-urges-g-7-deficit-reduction-via-pension-health-care-reform/http://www.bloggingstocks.com/2010/03/22/imf-urges-g-7-deficit-reduction-via-pension-health-care-reform/#commentsFiled under: , ,

The financial crisis storm clouds have vanished, but the we're by no means looking at clear skies.

That, in a nutshell, is the International Monetary Fund's stance regarding the global economy's condition in Q1 2010, as IMF First Deputy Managing Director John Lipsky said developed economies face "acute" challenges in confronting high debt, Bloomberg News reported.

Continue reading IMF Urges G-7 Deficit Reduction via Pension, Health Care Reform

IMF Urges G-7 Deficit Reduction via Pension, Health Care Reform originally appeared on BloggingStocks on Mon, 22 Mar 2010 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>canadag7germanyIMFinthenewslipskyMon, 22 Mar 2010 17:30:00 EST<![CDATA[EU Working on Back-Up Plan to Resolve Greece's Debt Crisis]]>http://www.bloggingstocks.com/2010/03/05/e-u-working-on-back-up-plan-to-resolve-greece-s-debt-crisis/http://www.bloggingstocks.com/2010/03/05/e-u-working-on-back-up-plan-to-resolve-greece-s-debt-crisis/http://www.bloggingstocks.com/2010/03/05/e-u-working-on-back-up-plan-to-resolve-greece-s-debt-crisis/#commentsFiled under:

Friday's key developments in As The Euro-Zone Turns:

European Union nations are working on a back-up rescue plan for Greece, in the event Germany does not commit to aid, Bloomberg News reported Friday.

According to Reuters, Germany has ruled-out immediate aid for Greece. A spokesperson for German Chancellor Angela Merkel told Reuters Friday Merkel's upcoming meeting with Greece Prime Minister George Papandreou would be about offering political support, and not financial aid.

Continue reading EU Working on Back-Up Plan to Resolve Greece's Debt Crisis

EU Working on Back-Up Plan to Resolve Greece's Debt Crisis originally appeared on BloggingStocks on Fri, 05 Mar 2010 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>angela merkeldollareurofeaturedgermanyGreeceinthenewsPapandreouFri, 05 Mar 2010 18:00:00 EST<![CDATA[Greece Seen Likely to Cut Deficit More to Placate EU]]>http://www.bloggingstocks.com/2010/03/02/greece-seen-likely-to-cut-deficit-more-to-placate-e-u/http://www.bloggingstocks.com/2010/03/02/greece-seen-likely-to-cut-deficit-more-to-placate-e-u/http://www.bloggingstocks.com/2010/03/02/greece-seen-likely-to-cut-deficit-more-to-placate-e-u/#commentsFiled under: ,

Tuesday's key developments in As The Eurozone Turns:

Greece is expected to announce an additional 3.5-billion-euro ($4.85 billion) deficit cut, to address concerns voiced by European Union members that the Mediterranean nation has to do more to correct its profligate fiscal ways, The New York Times (NYT) reported Tuesday .

Word of additional heavy-lifting by Greece comes after German Chancellor Angela Merkel said Greece "in the coming days" must reveal new measures to address EU member concerns that Greece is not doing enough to resolve the fiscal crisis, Bloomberg News reported Tuesday. Merkel is set to meet with Greece Prime Minister George Papandreou on Friday, March 5.

Continue reading Greece Seen Likely to Cut Deficit More to Placate EU

Greece Seen Likely to Cut Deficit More to Placate EU originally appeared on BloggingStocks on Tue, 02 Mar 2010 17:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budget deficiteuroEuropean UnionGermanyGreeceinthenewsMerkelTue, 02 Mar 2010 17:00:00 EST