Wednesday, November 10, 2010

Financial Crisis Continues -- News Updates November 10, 2010


Ireland's Fate Tied to Doomed Banks -- Wall Street Journal

DUBLIN—With doubts swirling about the solvency of the Irish state in early September, Finance Minister Brian Lenihan summoned a dozen senior government and bank officials to a conference room nicknamed the "torture chamber," a nod to its history as a venue for painful meetings.

For two years, Ireland had poured money on a raging banking crisis, to no avail. Each estimate of the rising price of rescuing Ireland's banks turned out too low. Mr. Lenihan needed to halt the drip-drip of bad news that was leading his country to ruin. "I want a final figure ASAP," he told the group.

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More News On The World's Financial/Currency Crisis

Troubles in Ireland Send Shivers Through Europe -- Wall Street Journal
Ireland's crisis flares as investors dump bonds -- APNews
E.U. offers guidance, not bailout, to save Ireland from the brink -- Washington Post
TIMELINE-Ireland heads towards drastic budget cuts -- Reuters

APEC Begins Trade Talks Amid Hurdles -- Wall Street Journal
APEC seeks to build vast free trade area -- Reuters
APEC Business Leaders Urge Action On Free Trade -- Wall Street Journal

Global leaders arriving in Seoul for G20 summit -- Xinhuanet
Currency Row Hangs Over Summit Of Global Leaders -- NPR/AP
Obama Pleads for Unity Ahead of G-20 -- Wall Street Journal
Obama is in for a rough ride at the G20 summit -- Baltimore Sun
Leaders at G-20 to Back Core of U.S. Bank Rules -- Wall Street Journal
Economic path strewn with obstacles for G20 -- The Australian
G-20 Crisis Unity Fractures as Leaders Seek Own Ends -- San Francisco Chronicle/Bloomberg
Gold Grabbing Attention Ahead of G20 -- Wall Street Journal

G20: Why the US should worry if Asian currencies strengthen -- Peter Ford, Christian Science Monitor
China may be bigger economy than US within two years -- Jeremy Warner, The Telegraph
Learning from Ireland -- Felix Salmon, Reuters
How Did Ireland Go So Wrong? -- Wall Street Journal

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