greece bailout Videos

Tags: home sales  world bank  china  growth  euro crisis  greek exit Greece (Country) 

Stocks were little changed today as ongoing concerns about Greece's possible exit from the euro zone gave investors little reason to take risks. Data showed demand for manufactured goods rose less than expected in April while weekly jobless claims dipped modestly last week.Michael Guli from Knight Capital Americas will be speaking with us about the positive home sales data released this week as well as the world bank cutting its economic growth forecast for China and Greece's future in the EU. The pace of sales for existing homes in April rose to its fastest in nearly two years helped cause an unexpected jump in prices and hopeful signs for the country's economic recovery.The National Association of Realtors said on Tuesday that home resales increased 3.4 percent to an annual rate of 4.62 million units last month, New single-family home sales rose more than expected in April and prices pushed higher, further evidence the housing market was turning the corner. The World Bank cut its...

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Tags: Capitalism Hits the Fan  Professor Richard D Wolff  europe  germany  eurocrisis  economics  marxism  capitalism  Marxian Economics  january 

Global Capitalism: A Monthly Update (Feb 2012) This monthly update will examine topics such as: -Deepening European Crisis: Greece, Spain and Beyond; critique of "labor market flexibility" as cure for troubled economies -Obama Home Foreclosure Deal with Banks (see guardian.co.uk/commentisfree/cifamerica/2012/feb/09/bailout-main-street-america) -Trickle Down versus Trickle Up Economic Policies -Dimensions of constant role of government in economy Actual economic developments will shape the agenda for each monthly Tuesday meeting. Rick Wolff, with occasional guests, will present an economic update and an analysis of some particular economic topics and then open the floor to questions, comments and a general discussion of where the US and world economies are going and the political implications. We aim to develop participants' understanding of and ability to explain to others the key economic developments of our time. Richard D. Wolff is Professor of Economics Emeritus, University of...

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Download here : www.usashared.com Mitt Romney --President Obama working to lower gas prices? --European Union bailout of Greece --Bill Clinton a 'folk figure' like Babe Ruth? --Muslim Home Schooling --A white supremacist joins black gang to sell meth. --Pat Buchanan blacklisted at MSNBC. --Chris Rock and Dave Chappelle

Tags: EU  heads  of  state  discuss  growth.  Europe's  struggling  economy.  analysis  news  Market  educational 

At a summit in Brussels, the EU heads of state and government discussed how to revive Europe's struggling economy. The EU crisis has taken a turn for the worse due to growing fears that Greece may quit the euro currency because of its opposition to austerity. Specifically, the leaders agreed to increase the capital of the EU's long-term lending institution, the European Investment Bank, by 10 billion Euros. But these initiatives are seen as minor. Analysts note that the EU needs more fundamental changes - like liberalizing the bloc's common market. Greece was also discussed at the summit. The leaders urged the country to stick to unpopular budget cuts as a precondition for its current international bailout. Another difficult subject on the agenda was the creation of so-called euro bonds - a mechanism which would allow stronger EU countries to guarantee the debt of weaker ones. Most nations are in favor. But the more stable EU members, such as Germany, do not like the idea of...

Tags: economic crisis greece  elections greece  greece  greek parties  imf  lucas papademos  merkel 

Former Prime Minister Lucas Papademos said that preparations are being made to contain the potential consequences of a Greek euro exit. Papademos added that the possibility of Greece leaving the eurozone was real and that Athens had to stick to the terms of its bailout to remain in the single currency. teleSUR multimedia.telesurtv.net

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Greek People Run to Withdraw Money from Banks - GREECE on Brink of COLLAPSE (Alex Jones) The bank runs that we are watching right now in Greece are shocking, but they are only just the beginning. Since May 6th, nearly one billion dollars has been withdrawn from Greek banks. For a small nation like Greece, that is an absolutely catastrophic number. At this point, the entire Greek banking system is in danger of collapsing. If you had money in a Greek bank, why wouldn't you pull it out? If Greece leaves the euro, all euros in Greek banks will likely be converted to drachmas, and the value of those drachmas will almost certainly decline dramatically. In fact, it has been estimated that Greek citizens could see the value of their bank accounts decline by up to 50 percent if Greece leaves the euro. So if you had money in a Greek bank, it would only make sense to withdraw it and move it to another country as quickly as possible. And as the eurozone begins to unravel, this is a scenario...

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The big news as of this week is Morgan Stanley and Facebook. However that's not having an impact on the market as much as the plans that will need to be drawn up for Greece's exit from the EU. I mentioned this late last year and how the bailout was a simple solution to a very complex problem. As I've heard it, it's a 10 pound problem with a 5 pound bag for a solution. It's having a positive impact on mortgage rates and dare I say it...would it be possible that rates go down to the low 3% range in 6 months? Who's to say, but if you're in contract now, it's a great time to 'Lock'. Topic of the week: I will be discontinuing my weekly videos but will now incorporate other professionals in my industry to present the 'why's and 'how's of their services. For example; Why is title insurance important and how does it work exactly? Thank you to everyone that's tuned into these past 7 months (whew!). Quote of the week: Surely there comes a time when counting the cost and paying the price...

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Today was supposed to be a meeting of EU Finance ministers to push through the bailout of Papademos' technocrat led government in Greece. This decision cam after the Greek parliament already passed brutal new austerity measures and privatization plans while their people were outside rioting and burning the center of the ancient city to ashes, including the historic Attikon theater to the ground. The violence perpetrated against the protestors as well as the violence perpetrated by the protestors was extreme, and Papademos stated in Parliament that such violence "has no place in a democracy." Unfortunately, Greece has ceased to be a democracy according to Nigel Farage. He gave a speech before the European Parliament this morning, where he took the TROIKA to task for acting like an imperial power, pressing its boot on the throat of the Greek people. The TROIKA meanwhile, has told Greek "leaders" that it needs more assurances from them. Antonis Samaras for one, has been backpedaling...

Tags: Greece  Crisis  Bailout  Elections  euro  Alexis Tsipras  Francois Hollande  François Hollande (Politician)  George Papandreou 

George Papandreou discusses drachma damage, Syriza leader Alexis Tsipras says caretaker government could freeze austerity, and new French President Francois Hollande says Greece should be given stronger support for sticking to its bailout commitments -- All on Athens News Channel Scanner, 23 May 2012

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May 23 (Bloomberg) -- Bill O'Neill, chief investment officer for Europe, Middle East and Africa at Merrill Lynch Wealth Management, talks about Greece's future in the euro, bank recapitalization and European bond markets. He spoke May 21 with Maryam Nemazee on Bloomberg Television's "The Pulse." (Source: Bloomberg)

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Greece may have only a 46-hour window of opportunity should it need to plot a route out of the euro. That's how much time the country's leaders would probably have to enact any departure from the single currency while global markets are largely closed, from the end of trading in New York on a Friday to Monday's market opening in Wellington, New Zealand, based on a synthesis of euro-exit scenarios from 21 economists, analysts and academics. ECB President Mario Draghi responded May 16 that the ECB's "strong preference" was for Greece to stay in the euro. Photographer: Angel Navarrete/Bloomberg Over the two days, leaders would have to calm civil unrest while managing a potential sovereign default, planning a new currency, recapitalizing the banks, stemming the outflow of capital and seeking a way to pay bills once the bailout lifeline is cut. The risk is that the task would overwhelm any new government in a country that has had to be rescued twice since 2010 because it couldn't manage...

Tags: euronews  economy  Euro  Greece  Banking  ECB 

www.euronews.com Europe's banks are scrambling to make sure they are prepared for a Greek exit from the eurozone. They would take a big direct financial hit from that, but experts have said the real worry is that Greece would the first of the dominos, to be followed by Portugal, Ireland, Spain and Italy. The return of the drachma - which would immediately be massively devalued against the euro - means Greeks would not be able to repay foreign loans. Philippe Waechter - Director of Economic Research at NATIXIS told euronews: "Even though Greece is not a very big part of the euro area economy (GDP), if it left there would be shock waves and it would create a new situation; it would change the balance of power within the EU; so the question is - would the cost of Greece leaving (the eurozone) be greater or less than the cost of Greece staying in?" At the end of last year, European banks had total exposure to Greece of around 80 billion euros. French banks stand to lose most. Credit...

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BANK RUNS in GREECE - Will the SYSTEM COLLAPSE? (Michael Rivero) A spreading bank run could hasten Greece's exit from the euro zone but it certainly doesn't have to end that way. It is far less clear what the impact would be should the wave of withdrawals accelerate in other peripheral states such as Spain or Portugal, which are further from outright revolt over German-led austerity, and which, due to their sheer size, will enjoy a vastly improved negotiating position. Greeks have been withdrawing hundreds of millions of euros of deposits from their banks in recent days, driven by a rational but dangerously self-reinforcing fear that a Greek exit from the euro will leave them holding far less valuable new drachma. That fear, though, is predicated on a shaky notion: that the players in the drama will do what they have said they would. Greek depositors are worried that their politicians will repudiate the terms of the bailout and that the ECB and European authorities will, ultimately,...

Tags: Grexit talk  Interest.co.nz  90at9  New Zealand  Bernard Hickey  Lucas Papademos  Greece preparations for exit  Greek Banks  Cash withdrawal  US stocks  NZD vs usc  Facebook shares down  Ructions mounting  Lastminute.com  Fitch  Japan's credit rating cut  Japanese govt. debt  Fitch's rating for NZ  Japanese 10 year bond yield  NZ bond yield 

Greek exit talk back PM Lucas Papademos Plans for 'Grexit' Cost up to 1 trln euros 'Catastrophic for Greece' 18 bln euro bailout For Greek banks 23 bln out in 6 mths US stocks lose gains NZ$ slumps to 75.60 Down 1 cent in a day Facebook falls again Closes at US$31 Ructions growing Lastminute.com For 2012? Fitch cuts Japan's Credit rating Two notches To A+ from AA Japanese govt debt 239% of GDP end 2012 NZ under 20% GDP Fitch rates AA Yet 10 yr bonds At 0.86% NZ 10 yr at 3.6% Out of whack

Tags: euronews  economy  Portugal  Lisbon  Economic crisis  Portugal's debt 

www.euronews.com Portugal's international lenders are in Lisbon to check progress on the country's 78 billion euro bailout programme. Inspectors from the so-called Troika - the European Commission, International Monetary Fund and the European Central Bank - are assessing what additional risks there'd be if Greece leaves the euro. Another focus is on the slow privatisation of the heavily indebted public transport sector, including airline TAP, the airports authority ANA - Aeroportos de Portugal - and CP, which runs the national railway. A source close to the evaluation mission told Reuters the team will try to separate Portugal's own performance, which has been lauded so far by the "troika" of lenders, from the worsening European economic situation. "The troika will focus on separating the progress within the bailout framework from international developments. Otherwise there would be too many parameters to be taken into account, and the mission would never get out of here," the...

Tags: RTHK  The  Pulse  Current  Affairs  How  Will  European  Elections  Affect  Asia? 

Such tactics may not make the road smooth for the incoming administration. Economically, there may be other speed bumps, as this week's elections in France and Greece may have put bail-out accords reached with other members of the European Union at risk So how may those elections affect Asia? With us in the studio is Simon Cox, Asia Economics Editor of the Economist magazine.

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BANK RUNS in GREECE - Will the SYSTEM COLLAPSE? (Michael Rivero) A spreading bank run could hasten Greece's exit from the euro zone but it certainly doesn't have to end that way. It is far less clear what the impact would be should the wave of withdrawals accelerate in other peripheral states such as Spain or Portugal, which are further from outright revolt over German-led austerity, and which, due to their sheer size, will enjoy a vastly improved negotiating position. Greeks have been withdrawing hundreds of millions of euros of deposits from their banks in recent days, driven by a rational but dangerously self-reinforcing fear that a Greek exit from the euro will leave them holding far less valuable new drachma. That fear, though, is predicated on a shaky notion: that the players in the drama will do what they have said they would. Greek depositors are worried that their politicians will repudiate the terms of the bailout and that the ECB and European authorities will, ultimately,...

Tags: Athens  Austerity Measures  Bailout  Bank Run  Default  Economic Crisis  EU  Euro Zone  Euro Zone Crisis  Euros  Financial Crisis  Global Economic Contagion  Global Economy  Greece  IMF  Italy  Riots  Suicides 

Greece's former finance minister has told Sky News that if Greece reneges on its bailout deal with the EU and the IMF it will "open the door to hell". Sky News last interviewed George Papaconstantinou two-and-a-half years ago. In December 2009 he told how Greece could survive independently and Greece's creditors had nothing to fear - they would get back every euro they were owed. A lot has changed since then. Greece is in the process of borrowing 240bn euros of emergency loans from the EU and the IMF (in return for pledges to raise taxes, cut spending and balance the books) and investors holding Greek debt have been forced write off up to 50% of their money. Even now Greece remains heavily in debt, deep in recession (now in its fifth year) and without a functioning elected government. Mr Papaconstantinou lost his position as finance minister last summer, shortly after the second bailout package was agreed. In the general election, two weeks ago, he also lost his seat as an MP. He...

Tags: Greece  Crisis  Antonis Samaras  Dora Bakoyannis  Elections  New  Democracy  Syriza  Democratic Alliance 

New Democracy leader Antonis Samaras agreed to run on a common ballot with splinter Democratic Alliance leader Dora Bakoyannis, in a bid to rally the centre-right before the June 17 repeat elections. ND is battle with anti-bailout Syriza for first place. 21 May 2012