tag:blogger.com,1999:blog-33816258066219051342023-06-20T05:42:53.128-07:00Totally EuropeYour one stop site for all things continental, be it news,fashion or good old European cultureAnonymoushttp://www.blogger.com/profile/00663500292581502853noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3381625806621905134.post-23433825879566924122012-06-10T10:56:00.000-07:002012-06-10T10:56:01.188-07:00<div style="text-align: center;">
<span style="font-size: x-large;">Group B : Italy 1 - 1 Spain</span></div>
<div style="text-align: left;">
<span style="font-size: x-large;"><br /></span></div>
<div style="text-align: left;">
<span style="font-size: x-large;"><br /></span></div>
<div style="text-align: left;">
Italy and Spain have shared the points in their opening match of the tournament. Di Natale put Italy into the lead in the 61st Minute.</div>
<div style="text-align: left;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://twitpic.com/show/iphone/9v121b" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="179" src="https://twitpic.com/show/iphone/9v121b" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: left;">
The lead however was short lived as former Arsenal star Cesc Fabregas scored the equaliser in the 64th minute. </div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://twitpic.com/show/iphone/9v0zls" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="176" src="https://twitpic.com/show/iphone/9v0zls" width="320" /></a></div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div style="text-align: left;">
<br /></div>
<div style="text-align: center;">
<br /></div>Anonymoushttp://www.blogger.com/profile/00663500292581502853noreply@blogger.com0tag:blogger.com,1999:blog-3381625806621905134.post-36032724935250281342012-06-10T10:47:00.000-07:002012-06-10T11:04:51.357-07:00Reaction to Spain aid will set Euro path<br />
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Currency markets will be driven Monday by the potentially game-changing news over the weekend that the European Union is willing to lend as much as €100 billion ($125 billion) to help Spain shore up its banking sector.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Whether the euro gets a boost from this latest attempt to contain the euro zone's sprawling debt crisis will depend, however, on whether investors believe that even such a hefty amount is enough to keep Spain's banks afloat.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">"Markets should react favorably to this deal," said Douglas Borthwick, head of trading at Faros Trading in Stamford, Conn. But he added, "There will be healthy discussion over the coming days as to whether €100 billion is enough to recapitalize Spanish banks."</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">The market will also question whether this means a restructuring of Irish and Portuguese bailouts is in the offing and whether Italy may also approach the EU for help with its banks, he said.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">After a lengthy conference call among European finance ministers on Saturday, the Spanish government said it had agreed to make a formal request for the funds, which will be dedicated solely toward the bank sector. Prime Minister Mariano Rajoy on Sunday tried to convince the Spanish public that an EU bailout for the country's banks will help shore up the ailing economy and dispel doubts about the common European currency. Spain's banks have been hit by bad loans as property prices have tumbled.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Even if there is a short-term gain for the euro, Dan Katzive, currency strategist at Credit Suisse in New York, thinks the common currency is in for more of its recent weakness. He expects the euro to fall toward $1.20 as global central banks and European institutions continue to wrestle with the consequences of the region's sovereign-debt crisis.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">On Friday, the euro traded weaker across the board. Late Friday in New York, the euro was at $1.2517, down from $1.2561 late Thursday. The common currency also fell to ¥99.48 from ¥100.02. Just a month ago, the currency traded at $1.30. The dollar was at ¥79.48 late Friday from ¥79.63.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Also on traders' radar this week will be Greek parliamentary elections, scheduled for June 17. While there will be a blackout in terms of polls this week, market participants will be keeping close watch to get some sense of how the voters may be moving.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">At issue is whether the parties willing to enforce austerity measures will win a sufficient majority to enable the country to receive the next instalment of aid from European agencies. If they can't take enough seats to form an effective government, many fear that Greece may be forced to exit the euro zone, an event that would reverberate through world markets.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Traders will also be positioning for the possibility that central banks could step in to take additional measures to boost their economies. Last week, Federal Reserve Chairman Ben Bernanke didn't indicate if the central bank would introduce another bond-buying program, and the European Central Bank's Mario Draghi didn't introduce any fresh programs to ease funding.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">But if the situation in Europe worsens and the U.S. economy continues to weaken, some in the market expect central banks to step in, possibly in a coordinated fashion.</span></div>
<div style="background-color: white; clear: right; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-family: 'Courier New', Courier, monospace;">Carl Forcheski, a director on the corporate currency sales desk at Société Générale in New York, said the Bank of Japan could intervene if the yen continues to rise on safe-haven flows against the euro and the dollar. "It'll be expected if there is significant stress," Mr. Forcheski said.</span></div>
<div style="background-color: white; clear: right; font-family: Arial, Helvetica, sans-serif; font-size: 1.4em; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<br /></div>
<div style="background-color: white; clear: right; font-family: Arial, Helvetica, sans-serif; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px; text-align: left;">
<span style="font-size: x-small;">Credit to Anusha Shrivastava @ <a href="http://onlinewsj.com/">onlinewsj.com</a></span></div>Anonymoushttp://www.blogger.com/profile/00663500292581502853noreply@blogger.com0tag:blogger.com,1999:blog-3381625806621905134.post-65517755106925106572012-06-10T10:43:00.001-07:002012-06-10T10:43:42.309-07:00WelcomeWelcome to totallyeuropean.blogspot, stay tuned for the latest european news sourced straight to this blog along with a healthy dose of art and culture.Anonymoushttp://www.blogger.com/profile/00663500292581502853noreply@blogger.com0