Soros, Taylor, El-Erian, Grant, Ackermann On Eurozone Crisis; Gary Shilling, Marc Faber on China

Euro Banknotes (Wikimedia/ECB)
Watch the Greek austerity/budget cut vote tomorrow and see how EUR/USD reacts (read my previous post on EUR/USD technical levels to watch). Below are opinions of what to expect going forward with Greece (+ analysis on China, Japan and Italian banks).

Josef Ackermann (Deutsche Bank CEO) Greek woes may eclipse Lehman (Reuters, 6/27/2011)

Soros Says a Euro Exit Mechanism Is ‘Probably Inevitable’ Amid Debt Crisis (Bloomberg, 6/27/2011)

Financial Meltdown if Greece Defaults: S&P Equity Strategist (Yahoo Finance - Breakout Video, 6/27/2011)

EU has Plan B if Greece rejects austerity -sources (Reuters, 6/27/2011)

Norway Won’t Be Haven From Greek Default (Bloomberg, 6/28/2011)

U.S. Money Funds Risk Losses From Europe Crisis (Bloomberg, 6/27/2011)

Jim Grant (Interest Rate Observer): Money market mutual funds in the U.S are exposed to sovereign risks in Europe (Bloomberg Video, 6/20/2011)

Scenarios: Possible impact of a Greek ratings default (Reuters, 6/27/2011)

Greek debt restructure inevitable: PIMCO's El-Erian (Reuters, 6/26/2011)

Greece to Alter Relationship to Euro, John Taylor Says (FX Concepts) (Bloomberg Video, 6/24/2011)

Interesting Italian bank action:

Here Are The Most Actively Traded Names In Goldman's Dark Pool (Or Why Is The Big Money Fascinated With Italy?) (Zero Hedge, 6/28/2011)

What lurks beneath Italian banks… (see OTC Equity Trades on Markit BOAT Charts) (FT Alphaville, 6/28/2011)

Gary Shilling and Marc Faber on China:

Why China’s Heading for a Hard Landing, Part 1: A. Gary Shilling (Bloomberg, 6/26/2011)

Shilling: China Heading for a Hard Landing, Pt. 2 (Bloomberg, 6/27/2011)

Marc Faber: If the bubble bursts in China and there's a slowdown in the economy, they could print money and take the pain through the depreciation of their currency rather than a collapse in asset prices (Reuters Video, 6/27/2011) hat tip Scrataliano

*Japanese stocks:

Goldman's Chief Japan Strategist Kathy Matsui Sees Upside for Japanese Stocks, "Says Topix May Rise 17% Over 12 Months" (Bloomberg Video, 6/28/2011)

Greece updates:

*Greek unions kick off 48-hour strike to protest planned cuts (CNN, 6/28/2011)

*Greek PM says backing austerity plan is 'patriotic duty' ("Unless it is approved, the European Union and International Monetary Fund say they won't release the fifth installment of an international bailout.") (EuroNews Video, 6/28/2011)

Comments

  1. More on Italian banks via Zero Hedge Italian Bank Trading Dominates Sigma X For Second Day In A Row Following Rumors Of Tremonti Resignation http://www.zerohedge.com/article/italian-bank-trading-dominates-sigma-x-second-day-row-following-rumors-tremonti-resignation

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  2. More Eurozone news and analysis 6/28/2011- 6/29/2011 (and Gary Shilling Part 3 on China)

    Euro Erases Loss Versus Dollar on ECB Interest-Rate Outlook, Greece Crisis (Bloomberg)http://www.bloomberg.com/news/2011-06-29/euro-erases-loss-versus-dollar-on-speculation-ecb-will-still-raise-rates.html
    Europe drifting to an inevitable, disastrous crisis by Satyajit Das - DNA India 

    http://www.dnaindia.com/money/report_europe-drifting-to-an-inevitable-disastrous-crisis_1560230


    Portugal government plans tougher austerity measures amid bailout, recessionhttp://www.washingtonpost.com/business/markets/portuguese-companies-are-feeling-pinch-amid-bailout-measures-recession-business-leaders-say/2011/06/28/AG12SuoH_story.htmlChina Buying Into Europe May Be Attempt To Push Dollar Downhttp://www.istockanalyst.com/finance/story/5258282/china-buying-into-europe-may-be-attempt-to-push-dollar-downChina offers helping hand to eurozone:

    http://www.guardian.co.uk/business/2011/jun/28/germany-and-china-in-trade-deal
    This is interesting ->  Euro woes lift chance of rate cut by RBA by January (Reserve Bank of Australia)
    http://www.theaustralian.com.au/business/interest-rates/euro-woes-lift-chance-of-rate-cut-by-rba-by-january/story-fn91wad8-1226083754518
    Bankrupt Greece Blackmails Europe, Bailout or Euro Zone Dies, Global Financial System Collapsehttp://www.marketoracle.co.uk/Article28957.htmlIceland Shows Default Doesn’t Lead to a Deep Freeze (Daniel Gross - Yahoo Finance)http://finance.yahoo.com/news/Iceland-Shows-Default-Doesn-dg-2638407258.html;_ylt=AvcgehE5VOASk_9oTyGwj8C7YWsA;_ylu=X3oDMTFmbm10OTUwBHBvcwMzBHNlYwNleHBlcnRPcGluaW9uRHluYW1pYwRzbGsDaWNlbGFuZHNob3dz?x=0&sec=topStories&pos=5&asset=&ccode=
    Shilling: China Heading for a Hard Landing, Pt. 3http://www.bloomberg.com/news/2011-06-28/shilling-why-china-is-heading-for-a-hard-landing-pt-3.htmlhttp://www.bloomberg.com/news/2011-06-28/shilling-why-china-is-heading-for-a-hard-landing-pt-3.html

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