European Highlights: November 3

Cheeky Bastard's picture

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trx's picture

More from the EU:

“EU27 surplus in trade in goods with the USA down by half in the first six months of 2009.”

Here’s the doc.

deadhead's picture

Thank you again for this outstanding update!  I love your european update cheeky and appreciate the enormous effort you are giving for the benefit of ZH readers.

 

 

trx's picture

Some new figures from the EU Commission today:

·         All countries in the Eurozone are expected to break one of their basic fiscal rules over the next two years by increasing their deficit to over 3 %.

·         The Eurozone will as a group reach a deficit of  7,7% of GDP in 2010.

·         France is expected to reach a deficit of 8,2%/GDP next year.

·         Unemployment rate forecast: 10,25%

·         Norwegian PMI Index shows industry is still contracting.


Press release from EU.

Press release from Fokus Bank on PMI Norway.

MinnesotaNice's picture

So the United States now only holds the Silver Medal  in the Financial Olympics with our athlete Citigroup... so sad... we better get busy over here with some more illegal steroids :-)

We can proudly announce that we have a new title holder in the " The costliest banking bailout in the history of the known world" category. With the recent infusion of another 42 billion $, RBOS has now officially taken the title from the former title holder; Citigroup.

BTW Cheeky... like your stuff :-)

Cheeky Bastard's picture

Thank you MinnesotaNice

but dont be said, i am sure that there is a provision in the bailout 2.0 which says that the title must again reside with the US bank .

Anonymous's picture

The flu pandemic in the Ukraine is very fishy. Suddenly, there's ten-fold up-tick out of the blue. Any more details on this.

Anonymous's picture

what is england and europes problem, don't they understand the goal is too extend and pretend, not too try and do the right thing..........gosh, if you're not carefull folks might extrapolate if xyz is happening there, ie, banks worsening, why they might think it in other places, god forbid in duh us of anything is possible if you simple click you're ruby slippers 3 times

Anonymous's picture

what is england and europes problem, don't they understand the goal is too extend and pretend, not too try and do the right thing..........gosh, if you're not carefull folks might extrapolate if xyz is happening there, ie, banks worsening, why they might think it in other places, god forbid in duh us of anything is possible if you simple click you're ruby slippers 3 times

Gunther's picture

The German numbers for wholesale-turnover for 3Q09 got reported:
all numbers compared to same Q of last year
Wholesale turnover nominal -17.2%, real -8.8%
Pre-production    nominal -25.8%, real -12.1%
Consumer goods    nominal -4.8%, real -4.3%
agricultural, including live cattle, nominal -23.5%, real +0.5%   

http://www.ad-hoc-news.de/grosshandel-3-quartal-2009-grosshandelsumsatz-...

German Retail (Y/o/Y):
Jan   -1.3%
Feb -5.3%
Mar -1.5%
Apr -0.8%
May -2.9%
Jun -1.6%
Jul -1%
Aug - 2.6%
Sept -3.9%
http://econo-matrix.blogspot.com/2009/10/d-einzelhandelsumsatze-real-39....

heatbarrier's picture

Outstanding, CB, outstanding.

EU banks are "Too Big To Save", UK is trying to break them up, other countries should follow their lead, including the US,

http://www.ft.com/cms/s/0/61d7e148-8f15-11dd-946c-0000779fd18c.html?ncli...

BTW, Tyler was hinting at "rumors" obout UBS, keeping my ears close to the ground.

Cheeky Bastard's picture

thanks man ....

yeah i heard the same thing from my swiss compadres ....

the word is that after the IRS shakedown they had a sort of a bank run or something .... if something comes up on that during the day, ill write an emergency post, that is if Tyler doent get to it first, which he will .... but nevertheless ...

Oh, and thank you for all your sources .... that article i was talking about should be out this week .... im sick so I cant deep in it like i would like to ... but it will come ... ill track the crisis all the way from the Creditanstalt AG BK till the recent actions ...

BRAVO 7's picture

 here is another you seemed to have missed.

 G 20 MEETING NOV.6-7   DOLLAR DUMPING DELIBERATION

   http://www.prweb.com/releases/G-20/US_Dollar/prweb3150584.htm

"MONEY IS THE GOD OF THIS WORLD, AND ROTHSCHILD IS HIS PROPHET"

  benjamin disraeli

Cheeky Bastard's picture

unfortunately i cant post that in the main body of the article, due to some credibility i need to have, but im all for it that you discuss it in the comment section.

and not only that, but i share your opinion on this matter, its just i dont want to give a potential bullet to the mofos who visit this site in search of a piece of data, or source or an article which they can use to bring down ZHs reputation. But i have read all the material on that, and am very familiar with this matter.

heatbarrier's picture

UBS continues to lose clients in their private bank.  5xGDP, UBS is my worst nightmare.

  Nov. 3 (Bloomberg) -- UBS AG, Switzerland’s largest bank, fell the most in two months in Swiss trading after redemptions by wealthy clients accelerated in the third quarter.

“The core private banking franchise still seems to be hurting,” said Florian Esterer, who helps manage about $49 billion at Swisscanto Asset Management in Zurich. “The money outflows are still bad across all divisions.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2h0MQoC4nR8&pos=2