New euro ‘empire’ plot by Brussels

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• New euro ‘empire’ plot by Brussels
• EUR/USD outlook – October 24-28
• Bundesbank head warns Greek haircut could be dangerous
• An Irish alternative to high inflation
• Spain, Italy under pressure as EU frames bank deal
• Greece Debt Sustainability Report By Official Creditors – 2
• Greece Debt Sustainability Report By Official Creditors – 1
• EU Source: Europe Bank Recap Plan Centers on 9% Tier 1 Ratio
• Update: Eurogroup Meeting Saturday On Greek Haircut, Banks
• Eurogroup Emergency Meeting Saturday On Greek Haircut, Banks
• Swedish FinMin Sees “Substantial” Haircut on Greek Debt
• EU’s Juncker: Must Prove We Can Deliver Comprehensive Answer

New euro ‘empire’ plot by Brussels Posted: European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 euro zone nations. Hardly surprising.

EUR/USD outlook – October 24-28 Posted: Excellent outlook from Yohay at Forex Crunch.

Bundesbank head warns Greek haircut could be dangerous Posted: CNBC article.

An Irish alternative to high inflation Posted: Latest from David Smith at economicsuk.com

Spain, Italy under pressure as EU frames bank deal Posted: Reuters article.

Greece Debt Sustainability Report By Official Creditors – 2 Posted: PARIS (MNI) – The following is the second part of the new debt sustainability report published Friday by Greece’s official lenders and reprinted in UK daily The Telegraph. “Permanent growth and interest rates shocks can lead to unsustainable debt dynamics: – Growth. Results can be very sensitive to growth outcomes. Fixing the primary balance, permanently [...]

Greece Debt Sustainability Report By Official Creditors – 1 Posted: PARIS (MNI) – Greece’s official creditors released a report late Friday indicating that much bigger haircuts on Greek sovrereign bonds will be required to get the country’s outstanding debt load down to anything resembling long-term sustainability. With a haircut of 50%, for example, the Greek public debt ratio would be cut to 120% of GDP [...]

EU Source: Europe Bank Recap Plan Centers on 9% Tier 1 Ratio Posted: Brussels (MNI) – The bank recapitalization plan decided in principle by European Union finance ministers Saturday requires banks to raise their Tier 1 capital level to 9%, an EU official said. Reaching that level will require European banks to raise about E100 billion in new capital, the source indicated. Tier 1 capital is the most [...]

Update: Eurogroup Meeting Saturday On Greek Haircut, Banks Posted: –Adds New Material On IIF Agreement To Bigger Haircut, Sunday EU Summit By Angelika Papamiltiadou BRUSSELS (MNI) – Eurozone finance ministers will return to the negotiating table Saturday afternoon in an emergency meeting for further talks on a plan to recapitalize European banks and increase the haircut on privately-held Greek sovereign debt, a senior EU [...]

Eurogroup Emergency Meeting Saturday On Greek Haircut, Banks Posted: –Talks To Focus On E100 Bln Bank Recapitalization; Bigger Greek Haircut By Angelika Papamiltiadou BRUSSELS (MNI) – Eurozone finance ministers will return to the negotiating table Saturday afternoon in an emergency meeting for further talks on a plan to recapitalize European banks and increase the haircut on privately-held Greek sovereign debt, a senior EU official [...]

Swedish FinMin Sees “Substantial” Haircut on Greek Debt Posted: BRUSSELS (MNI) – Banks need to write off a “substantial” proportion of their sovereign Greek debt holdings in order to restore credibility to the Eurozone rescue effort, Swedish Finance Minister Anders Borg said Saturday. “It’s pretty obvious that we need a substantial haircut on the Greek debt,” Borg said as he arrived for a meeting [...]

EU’s Juncker: Must Prove We Can Deliver Comprehensive Answer Posted: BRUSSELS (MNI) – European authorities must demonstrate their ability to forge a comprehensive response to the Eurozone debt crisis if they are to regain the confidence of financial markets, Jean-Claude Juncker, the head of the Eurogroup of Eurozone finance ministers, said Saturday. Speaking to journalists before a meeting of EU finance ministers, Juncker, who is [...]