A weekend meeting of global finance ministers was sponsored by the International Monetary Fund to deal with the growing currency imbalances in world economies. The two big players -- the U.S. and China -- instead of reaching a consensus, ended farther apart with each side digging in and pushing back against the other.

Zhou Xiaochuan, China's central bank governor told the Financial Times: "The continuation of relatively low interest rates and unconventional monetary policies by major reserve currency issuers have created stark challenges for emerging market countries in the conduct of monetary policy."

Continue reading Currency Tensions Rise as Nothing Happens at IMF Meeting

Currency Tensions Rise as Nothing Happens at IMF Meeting originally appeared on BloggingStocks on Mon, 11 Oct 2010 10:40:00 EST. Please see our terms for use of feeds.

According to the International Monetary Fund (IMF), the global financial system may be the biggest hindrance to a worldwide economic recovery. The IMF used its global financial stability report to make this announcement, one that suggests there isn't a lot of stability thanks mainly to the global financial system.

The IMF estimated that the writedowns attributed to the credit crisis were $2.2 trillion, lower than the $2.3 trillion originally projected in April.

Continue reading IMF: Global Financial System Hinders Economic Recovery

IMF: Global Financial System Hinders Economic Recovery originally appeared on BloggingStocks on Tue, 05 Oct 2010 11:00:00 EST. Please see our terms for use of feeds.

Alcoa (AA), Marriott (MAR) and Yum! Brands (YUM) kick off the new earnings season this week. Analysts surveyed by Thomson Reuters are looking for moderate year-over-year earnings and revenue growth in the third quarter from each of these dividend payers.

Note that Marriott and Yum! Brands have exceeded consensus estimates in recent quarters and have First Call consensus buy recommendations as well. They are also trading near their 52-week highs, while Alcoa shares are closer to the 52-week low despite a 22% rise in the past three months.

Continue reading Week in Preview: New Earnings Season, Employment Data and More

Week in Preview: New Earnings Season, Employment Data and More originally appeared on BloggingStocks on Sun, 03 Oct 2010 12:30:00 EST. Please see our terms for use of feeds.

Continue reading Will Greece Be Able to Pay Back Its Debt?

Will Greece Be Able to Pay Back Its Debt? originally appeared on BloggingStocks on Fri, 20 Aug 2010 14:00:00 EST. Please see our terms for use of feeds.

Without giving much detail, George Soros says "The euro is a patently flawed construct."

Let's elaborate on this point. The greatest flaw in the euro is that it's a currency without a country. Instead you have a group of 16 countries that have agreed to use the euro as legal tender. This means that 16 separate political systems have agreed in principle to follow the rules of engagement, to use a military term. Those rules state that each country must keep its debt level to 3% of GDP.

Continue reading Soros: Euro Is a 'Patently Flawed Construct'

Soros: Euro Is a 'Patently Flawed Construct' originally appeared on BloggingStocks on Fri, 02 Jul 2010 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Ray of Light: IMF Says Greece's Deficit-Cutting Plan On-Track

Ray of Light: IMF Says Greece's Deficit-Cutting Plan On-Track originally appeared on BloggingStocks on Thu, 17 Jun 2010 17:30:00 EST. Please see our terms for use of feeds.

Continue reading IMF's Stauss-Kahn Says EU Debt Crisis Has Been Contained

IMF's Stauss-Kahn Says EU Debt Crisis Has Been Contained originally appeared on BloggingStocks on Thu, 10 Jun 2010 17:00:00 EST. Please see our terms for use of feeds.

Continue reading IMF: Global Outlook Remains 'Unusually Uncertain'

IMF: Global Outlook Remains 'Unusually Uncertain' originally appeared on BloggingStocks on Wed, 09 Jun 2010 10:00:00 EST. Please see our terms for use of feeds.

Continue reading IMF's Lipsky: Now Comes the Hard Part -- Budget Cuts

IMF's Lipsky: Now Comes the Hard Part -- Budget Cuts originally appeared on BloggingStocks on Tue, 11 May 2010 17:30:00 EST. Please see our terms for use of feeds.

The EU and the IMF have agreed on a €720 billion loan guarantee fund to stabilize the eurozone. The plan was formulated over the weekend to calm markets throughout the world and stabilize the euro.

As part of the plan, the European Central Bank stands ready to buy eurozone government debt if needed.

Of the €720 billion, €440 billion would be provided by eurozone members and a further €60 billion supported by EU members through the expansion of balance of payments facility. The remaining €220 million would provided by the IMF.

Continue reading EU and IMF Form €720 Billion Rescue Fund

EU and IMF Form €720 Billion Rescue Fund originally appeared on BloggingStocks on Mon, 10 May 2010 09:30:00 EST. Please see our terms for use of feeds.

Greek workers and shopkeepers are disrupting basic services. Air traffic controllers and teachers walked off the job, closing flights and schools.

Some 18,000 persons are participating in the nationwide strike. They are protesting the austere measures imposed on them by the European Union and IMF bailout package. Protesters are carrying placards saying: "IMF OUT." The bailout package carries wage cuts for public workers, a three-year freeze on pensions, a second increase on sales taxes, and higher taxes on tobacco and alcohol.

Continue reading Greek Demonstrations Cause Chaos

Greek Demonstrations Cause Chaos originally appeared on BloggingStocks on Wed, 05 May 2010 11:40:00 EST. Please see our terms for use of feeds.

Financial guru, Nouriel Roubini foresees rising sovereign debt leading to defaults.

Roubini predicted the U.S. financial collapse at least a year before it happened. Now he is predicting sovereign defaults for European Union (EU) nations.

Continue reading Roubini: Rising Sovereign Debt Will Lead to Defaults

Roubini: Rising Sovereign Debt Will Lead to Defaults originally appeared on BloggingStocks on Sun, 02 May 2010 15:40:00 EST. Please see our terms for use of feeds.

When the financial meltdown struck in the United States in 2008, the contagion quickly spread throughout the world, including the European Union (EU). However, unlike the Federal Reserve, which has unilateral authority to act on behalf of the United States, the EU has no such authority.

The EU barely survived 2008 and 2009. Then this year, Greece had difficulty refinancing its sovereign debt. Again, unlike the United States, where the debt came from financial institutions, in Greece the debt is government debt.

Continue reading The European Banking Crisis: An Overview

The European Banking Crisis: An Overview originally appeared on BloggingStocks on Sun, 02 May 2010 09:40:00 EST. Please see our terms for use of feeds.

Thursday's events in Europe provided some encouragement, if not universal calm, regarding the Greek debt saga, including the promise that Europe and the International Monetary Fund will now move relatively swiftly to put together a suitable package that will assist the Mediterranean nation's transition to fiscal solvency.

But even if Europe again show signs of "snatching defeat from the jaws of victory," investors should not anticipate a sudden return to the barter system, globally.

Continue reading One 'Trump Card' Left Should EU, IMF Talks Disappoint Again

One 'Trump Card' Left Should EU, IMF Talks Disappoint Again originally appeared on BloggingStocks on Fri, 30 Apr 2010 12:30:00 EST. Please see our terms for use of feeds.

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.

Continue reading G-20 Sees Uneven GDP Growth

G-20 Sees Uneven GDP Growth originally appeared on BloggingStocks on Tue, 27 Apr 2010 12:30:00 EST. Please see our terms for use of feeds.

In a turnaround of events, Greece has asked eurozone partners to activate a 30 billion euro aid package.

For weeks, Prime Minister George Papandreou had been reluctant to trigger the aid package, knowing full well that it will mean painful austerity measures to reduce Greece's budget deficit. He stated: "We believe our European partners will act decisively and provide Greece with a safe haven to rebuild our ship [of state] with strong and reliable materials. ... We and our EU partners hope this decision will be enough to calm the markets so that we will be able to finance our country's debt at lower interest rates."

Continue reading Greece Asks Eurozone Partners for 30 Billion Euro Aid Package

Greece Asks Eurozone Partners for 30 Billion Euro Aid Package originally appeared on BloggingStocks on Fri, 23 Apr 2010 11:00:00 EST. Please see our terms for use of feeds.

• Greece's budget deficit of 32.24 billion euros is 13.6% of GDP, not the 12.77% previously stated. Plus it still may be revised upward by .3 to .5% Nick Kounis of Fortis said: "It looks like a terrible situation just got worse."

Continue reading Greek Debt Crisis Worsens

Greek Debt Crisis Worsens originally appeared on BloggingStocks on Thu, 22 Apr 2010 19:00:00 EST. Please see our terms for use of feeds.

Continue reading IMF Calls Appreciation of China's Yuan 'Highly Desirable'

IMF Calls Appreciation of China's Yuan 'Highly Desirable' originally appeared on BloggingStocks on Thu, 22 Apr 2010 18:00:00 EST. Please see our terms for use of feeds.

Continue reading IMF Lowers Bank Financial Crisis Losses to $2.28 Trillion

IMF Lowers Bank Financial Crisis Losses to $2.28 Trillion originally appeared on BloggingStocks on Tue, 20 Apr 2010 18:00:00 EST. Please see our terms for use of feeds.