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Eurozone crisis Updates…

Just to keep Firedogs abreast of the latest developments in the on going saga of the Eurozone economic crises, here are some links to live blogs and updates as they happen….more or less.

From The Guardians blog..

4.23pm: But now comes the backtracking.

Seems partial denial over the Merkel comments… allegedly was off the cuff at ‘private meeting’

— Steve Collins (@TradeDesk_Steve) June 26, 2012

4.13pm: Well this is pretty definitive. According to Reuters, German chancellor Angela Merkely has said at a coalition party meeting that Europe will not have shared total liability for debt as long as she lives.

4.02pm: But don’t worry. The eurozone finance ministers are due to hold another teleconference tomorrow ahead of the summit on Thursday and Friday. So that’s all right then.

4.01pm: Some nasty rumours about Spain, notably that Moody’s may soon cut the country’s credit rating to junk after last week’s downgrade.

The Telegraph seems to be down playing it a bit on their blog. It’s live but in the business section and not front page.

16.29 Chris Beauchamp at IG Index comments on today’s market movers ahead of the close:

Despite several valiant tries, markets remain stuck in a downbeat mode for a second consecutive day. Weaker figures from the US, in the shape of consumer confidence and the Richmond Fed index, combined with a lingering sense of nervousness ahead of this week’s eurozone summit. This week’s summit is the nineteenth meeting of European leaders, but it seems to be doomed to the same inglorious failure as all its predecessors. Germany once again stuck to its familiar line on the pooling of debt, saying this would require greater oversight from Brussels. After more than two years of crisis we are left with the same problem, namely that Germany won’t take on everyone else’s liabilities, while the other countries remain opposed to a reduction in their sovereignty. One wonders how long the eurozone can carry on in this fashion.

So the more conservative Telegraph is concentrating on our problems instead of Europe’s. Even with Spain’s bonds being downgraded possible to junk status and France’s oldest bank in trouble.

Interesting comparison. Enjoy the show.

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