Pretty much all bad:
European Unemployment Unexpectedly Increases to 12-Year High
Trichet Says Fiscal Sustainability Fosters Confidence, Growth
By that he means the austerity measures/deficit cutting which only makes things worse.
Trichet Says ECB ‘Fiercely Independent,’ Stable Prices Mandate
Just doing his job.
Trichet sees need for ‘budgetary federation’
He’s sees this as a watchdog to keep deficits down.
Trichet Says ECB Won’t Tolerate Budget Indiscipline Any Longer
He’s concerned about the secondary mkt purchases of greek debt meaning even this very modest support is in question.
ECB’s Noyer Says Rating Firms Aggravating Crisis
Weber Says ECB Bond Purchases Musn’t Exceed ‘Tight Limits’
More talk on limiting ECB purchases.
ECB’s Stark Says Bank May Start Withdrawing Liquidity in July
Doesn’t matter but indicates their attitude.
Nowotny Sees No Risk of Double-Dip Recession due to Austerity
That’s the entire source of the risk of a double dip recession.
Bank of Italy: EU euro defense package can’t last
And calls for a return to the 3% deficit limits.
ECB: Banks Will Suffer Considerable Loan Losses In 2010, 2011
Bank deposits are insured only by the national govts that are already seeing their funding threatened.
ECB warns of ‘hazardous contagion’
True, but they have their channels totally confused.
Trichet Says Second-Quarter Growth May Be Better Than Expected
European Manufacturing Growth Slowed More Than Estimated in May
Germans, ECB Spar Over Bond Plan
After Debt Crisis, New Tension Between ECB, Germany
Survey suggests Germans are unhappy with Merkel
Merkel Says Budget Deficit Looks ‘Moderate’ Versus Spain, U.K.
Still doesn’t get how the UK comp isn’t applicable.
Hypo Real Estate gets more loan guarantees
Spain presses for labor market reform deal
Fitch downgrades Spain’s credit rating
European Loans Post First Annual Increase in Eight Months
German Unemployment Falls Twice as Much as Forecast
German Retail Sales Rose in April on Declining Unemployment
French New Car Sales Fall 12% in May, After 12 Monthly Gains
Italian Unemployment Climbs as Recovery Fails to Create Jobs
What can I say? It is really depressing! Not only because of the austerity pains but because we have these incompetent consevatives in charge Unfortunately, it is going to get worse!The only hope is for people to revolt! However, most of the time this is not something that will happen becuse intellectuals predict it but because people will suffer!