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2012 Global Stockmarket Crash (Read 18036 times)
it_is_the_light
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2012 Global Stockmarket Crash
May 19th, 2012 at 7:14pm
 
http://www.couriermail.com.au/business/euro-crisis-wipes-out-australian-share-ga...

Euro crisis wipes out Australian share gains for the year

...

Investors are running for cover after a woeful May with $120b wiped off value of Australian shares.  Spain's financial woes are intensifying. Source: The Daily Telegraph

AUSTRALIAN investors have lost $120 billion on the sharemarket in May and have been warned to brace for more turbulence as Europe tries to sort out its debt crisis.

Australian shares dropped to their lowest level for six months on Friday in response to falls on Europe's stockmarkets and the euro hitting a four-month low against the US dollar.

About $35 billion was wiped off the value of Australian shares as the market tumbled by 2.6 per cent. The benchmark ASX200 shed 110.9 points to 4046.5 points.

More falls are expected after Wall St on Friday also fell, despite the much-hyped listing of Facebook.  The Dow Jones Industrial Average dropped 74.70 points, or 0.60 per cent, to 12,367.79

The creditworthiness of 16 Spanish banks was also downgraded overnight on Thursday, adding to worries that depositors en masse may start pulling their money out of the region's banks.

ANZ chief executive Mike Smith said credit markets were already closing as the eurozone debt crisis continues.

"This is what happens in this sort of situation," Mr Smith said in Sydney yesterday.

"Confidence goes, investor appetite gets stopped, people are all about capital preservation. They're just not willing to invest, and credit markets always get hit first."

Banks around the world rely on credit markets as sources of funding so they can provide loans to their customers.

If those markets tighten up, it becomes harder and more expensive for banks to find the money they need. Since hitting its peak for the year on May 2, the Australian market has shed about $121 billion enough to buy 300 or so A380 super jumbo jets.

Brokers predict the falls will continue at least until the next round of elections are held in Greece on June 17 and a clearer picture emerges about whether the debt-laden country will remain in the eurozone.

IG Markets analyst Stan Shamu said the market was already pricing in the worst-case scenario in Europe.

However, while brokers agree that a quick resolution about Greece's future will help reassure global markets, they disagree about whether the outcome will have much of an effect.

Australian Stock Report head of research Geoff Saffer said worries about China's economic slowdown will also continue to have an impact on the market.
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Re: 2012 Global Stockmarket Crash
Reply #1 - May 20th, 2012 at 4:37am
 
http://www.news.com.au/business/markets/stock-market-will-keep-losing-money/stor...

Stock market will keep losing money

...

A man uses his cell phone in front of chart with the stock prices at the Greek Stock Exchange in Athens. Picture: AP


AS Greece's growing cash crisis cripples global markets, local investors are bracing for a sluggish start when the Australian stock market opens tomorrow.
The S&P ASX 200 index is tipped to open down 8 points, or 0.2 per cent, as uncertainty surrounds whether Greece will remain in the eurozone.
More than $120 billion has been wiped off the Australian stock market so far this month, including $35 billion off local shares on Friday.
The falls are expected to continue until the next round of elections in Greece on June 17
AMP Capital's chief economist Shane Oliver said the ominous mood on financial markets was a result of fears of a messy exit by Greece from the euro.
"It's going to remain a fairly volatile ride in the share market for the next month, and further falls are quite possible," he said.
On Wall Street, all major averages ended firmly in the red, their worst closing levels in four months. The UK's FTSE Index slid 1.3 per cent while Japan's Nikkei 225 Index tumbled by 3 per cent. And the European single currency has hit a four-month low at $1.2642.
Ratings agency Fitch dropped Greece to the lowest grade for a country not in default. This came as Moody's cut the credit ratings of 16 Spanish banks, three days after it downgraded 26 Italian banks. Reasons for the downgrades included both economies slipping back into recession, a rise in bad loans and an expectation of more volatility ahead.
Meanwhile, G8 leaders met at Camp David near Washington DC over the weekend to seek assurances European leaders can contain the fallout if Greece returns to the drachma.


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Re: 2012 Global Stockmarket Crash
Reply #2 - May 23rd, 2012 at 1:02pm
 
OOPS!!!! I forgot to mention........

going down down and down lol
.....................................................

CLUSTER-ZUCK: Facebook investigated as losses hit $40 billion

US REGULATORS will investigate claims that Morgan Stanley shared negative news about Facebook with major clients in the lead up to its initial public offering.

Allegations are flying that the IPO's lead underwriter Morgan Stanley only told its top clients it had reduced its revenue forecast for the tech giant, and did not spread the word to other investors.

The state of Massachusetts has subpoenaed the brokerage firm over its discussions with investors on Facebook.

"The Securities Division has put out a subpoena to Morgan Stanley in connection with the analyst's discussion with certain institutional investors about the revenue prospects for Facebook,'' a spokesman for Massachusetts Secretary of Commonwealth William Galvin said.

This comes amid reports that a senior Nasdaq official said that the index would have pulled the plug on Facebook's IPO if it had known the extent of technical problems.

The Wall Street Journal reported that Nasdaq’s head of transaction services said the index "by no means would have gone forward" with the IPO if it had known the problems would disrupt a "normal trading day."

In a separate case, another disgruntled investor is reportedly suing Nasdaq over the trading glitches that caused losses.

The mishandling of the Facebook IPO affected an estimated 30 million shares, according to Nasdaq executives, and losses across Wall Street stemming from the episode have been estimated at tens of millions of dollars.

Facebook shares sank further today amid the accusations – they lost another 8.6 per cent to close at $US31.12, leaving them 18.1 per cent below the IPO price.

Some $US17 billion in market capitalisation was wiped from the company, which launched on the market at a spectacular $US104 billion valuation last week.

The shares continued to fall in after-hours trade, falling to as low as $US30.72, as analysts and investors concluded that the $US16 billion, 421 million shares IPO was just too big for the real demand and that major early institutional investors had not intended to hold on to them.

Underwriters had tried to prop up the trade at the $38 issue price on Friday, but gave up on the second and third days of trading as selling became too heavy.

Analysts blamed Morgan Stanley for allowing Facebook last week to increase the price and the offering size to 421 million shares.

"They issued too many shares and the market wasn't ready to absorb them, that's all there is to it. The market isn't ready to absorb it," said Michael Pachter of Wedbush Securities.

"The underwriters placed the stocks with people who really were not that committed to owning it, and so a lot of them sold it."

Mr Pachter said they sent "false signals" by adding 84 million shares to the offering right before they went public.

"They were wrong, they completely blew it," he said.

Reports today that Morgan Stanley and two other key underwriters, JP Morgan and Goldman Sachs, had cut their revenue forecasts came after Facebook itself amended its IPO filing with the Securities and Exchange Commission with data that was less positive about its performance in the mobile market just days before the IPO.

In a statement Morgan Stanley said it followed all appropriate procedures in the IPO, including disseminating the update Facebook filing, the "S1", to all of the company's institutional and retail investors.

"In response to the information about business trends, a significant number of research analysts in the syndicate who were participating in investor education reduced their earnings views to reflect their estimate of the impact of the new information," the banks said in a statement.

http://www.news.com.au/business/facebook-shares-extend-slide-drop-up-to-9pc-afte...

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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: 2012 Global Stockmarket Crash
Reply #3 - May 23rd, 2012 at 5:34pm
 
the illiminati was hoping for facebook to prop up the

market..look what happened,

only a few more moves to CHECK MATE..

so be it

enjoy the transition toward a free humanity

namaste

-:)
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Re: 2012 Global Stockmarket Crash
Reply #4 - May 23rd, 2012 at 5:38pm
 
We're doomed.

DOOOOOOOOOOOOOMED I TELLS YA
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In the fullness of time...
 
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Re: 2012 Global Stockmarket Crash
Reply #5 - May 23rd, 2012 at 5:39pm
 
CLUSTER-ZUCK: Facebook investigated as losses hit $40 billion

US REGULATORS will investigate claims that Morgan Stanley shared negative news about Facebook with major clients in the lead up to its initial public offering.

Allegations are flying that the IPO's lead underwriter Morgan Stanley only told its top clients it had reduced its revenue forecast for the tech giant, and did not spread the word to other investors.

_________

this article would also be relevant

on the thread, ' mass arrests happening '

collusion.

namaste



http://paoweb.com/uf052212.htm

Update by Sheldan Nidle for the Spiritual Hierarchy and the Galactic Federation
1 Pax, 10 Lamat, 8 Manik
Selamat Balik! We return! Much is happening on your world. A great confrontation between the dark and the Light is coming to a head. This struggle has thoroughly exhausted the governments of the West. These cabal-controlled regimes are at their wit's end as an immense financial crisis continues to deepen. The multiple threats to their stability have increased as the rigors of keeping to a debt-oriented economy are compounded daily by the on-going rebellion of nations like Greece, Iceland, and Ireland, and this rattles them to the core. The arrogance of the large multinational banks is throwing further monkey wrenches into this tottering global predicament. Meanwhile, these same banks are suffering from their own meltdown as the number of liens placed on them accrues. The whole sorry mess teeters on the verge of collapse! As this house of cards wobbles, those nations focused on bringing down the current dollar fiat system are silently enjoying what they have already accomplished. The Light supports their efforts in this, as do those who have worked to create the new and fairer economic system.

    Our task in these proceedings is one of support, advice, and a helping hand that can be used to promote the proposals made by these thoroughly alarmed nations. In the past, the non-aligned nations were considered by the West to be mere 'afterthoughts.' This marginalizing is now changing as the West's once-mighty economies stare over the edge of a seemingly bottomless sinkhole. This present array of potential calamities was deliberately engineered by the dark cabal during the last two decades as part of their arrogant bid for world domination. Now, Heavenly circumstances beyond their control have thrown this goal off course, placing the cabal at the mercy of their own diabolical trickery. Meanwhile, the Ascended Masters' plans to manifest the new monetary system will tie in nicely with the objectives drawn up by the secret sacred societies of those nations that have broken away from the cabal. The die is cast, and your world is living out the final days of a reality that has endured for millennia.

    The programs to prepare you for first contact are progressing well. We revise these constantly, to keep up with the ever-shifting profiles in your medical dossiers. The first official broadcasts must be made in such a way as to quell your perplexities and worries. Each of you needs answers that will remove the sting from what we need to do, and we intend to interact personally with all who wish it. This part of the operation is firstly about multiple reunions: the peoples of Inner Earth will be reunited with surface humanity, followed shortly afterwards by the return of your spiritual and space families who, in Love, initially colonized your beautiful planet 900,000 years ago. The veil of amnesia that buffers you on the Earth plane makes you forget who you really are, which is why the first thing is to bring you up to speed on this pivotal issue, and on where first contact is taking you. Then we can more usefully describe how this transformation is to happen. The Ascended Masters will mentor you through this initial stage.

    Those who have spiritually mentored you down through the ages will be available to field your questions and qualms about how you are to return to full consciousness. Although the process is complex, you need, and will be given, simple, comprehensive answers to your numerous queries. It is vital that you be relieved of any stress in this regard so that you can complete this adventure in a joyous frame of mind. Our personnel will at first assist the Ascended Masters and, if required, show you where this transformation is to take place. Many of you wonder why these procedures are necessary, and we are fully ready to satisfy any and all concerns and questions you may have. All our interactions with you will be Loving and honoring, and done with your full approval. Heaven also intends you to be wholly comfortable with the reasons for the use of a living Light chamber. This special cocoon will heal you and remove the myriad, artificial blocks to your RNA/DNA which were responsible for your fateful fall into limited consciousness 13 millennia ago.

    Namaste! We are your Ascended Masters! We come on this day to explain some of the activities that will bring you your freedom and end your illegal debt slavery. At the end of the 18th and the start of the 19th century, a banking system came into vogue that was based on accumulating great wealth by means of designated debt instruments. Over time this produced a global increase in the trading and amassing of ever-larger debt instruments, the instability of which resulted in 'panics' from time to time. These cycles consisted of a general upturn in the world's trading markets followed by an abrupt downturn which created incredible wealth in the hands of a few. These cycles are now to end as we turn from this debt-driven economy to one based on true equity. The days of this fiat-money world are numbered and will be replaced by true-value money and an end to the whole concept of debt!

    There presently exists on your world a series of banking acts that are to make all banking transactions fully transparent and that will regulate the type of funds that a bank needs to maintain in its reserves. All bank accounting is to be open, and a new agency will oversee those banks that operate either domestically or internationally. The funds they either acquire or dispense will be based on equity: precious metals (gold, silver, or platinum), or items that are highly valued, such as diamonds. In order to put this new system in play, an across-the-board debt-forgiveness is an essential prerequisite and will be announced worldwide. This new system is ready to go, but we are sure you understand that what we have described to you is a very simplified general outline of what created the current financial meltdown and the means by which it is to be resolved globally.

    This new equity system and its new equity economy are to terminate the present abuses which have allowed the few (the dark cabal) to take over every nation and control it by clever use of its banking system. So therefore, one of our first moves is to take over the major banks of your world in order to secure the viability of the new financial system. But remember, even this fair and prosperity-oriented system is only a stopgap to the state of abundance that lies beyond money. Our over-arching concern here is your return to full consciousness. Heaven has mandated that you return to a state of consciousness that permits you to work with us in unfolding the divine plan for physicality. This supreme task is the basis for all our divine service and we are committed to your return to full consciousness in as short a time as divinely possible. We have acquired the assistance of the Galactic Federation and their capabilities will permit us to achieve our divine goals with great success!

    Today, we updated you on what is ready to happen worldwide. Your reality has reached a point where it is no longer viable, and so a very serious intervention is underway which is to transform your world and quickly pave the way for your blessed return to full consciousness. Know, dear Ones, that the countless Supply and never-ending Prosperity of Heaven are indeed Yours! So Be It! Selamat Gajun! Selamat Ja! (Sirian for Be One! and Be in Joy!)
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« Last Edit: May 23rd, 2012 at 6:15pm by it_is_the_light »  

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Re: 2012 Global Stockmarket Crash
Reply #6 - May 23rd, 2012 at 6:29pm
 
http://www.centraladvocate.com.au/news/national/national/general/markets-live-sh...

Markets Live: Shares resume May drop

...

PETER BRAIG
23 May, 2012 09:49 AM
Australian shares give up yesterday's solid gains and then some as investor worries about the state of Europe's economy drag all the major sectors lower.

4.40pm: Just a final tidbit or two: David Jones ended the day down 3 cents, or 1.4 per cent, to $2.17 - pacing the overall market's decline. Still, that's the lowest level for the stock since March 2009 (and it's down 8 per cent in 2012.)

Myer remains 3 per cent up for 2012 - even with today's big slide.

4.32pm: Other stocks to take a flogging today include OneSteel, which lost another 8 per cent, and Linc Energy, which dived 13 per cent.

We'll be wrapping up our live coverage shortly, and will point you to the evening market's wrap. The loss for the day for the overall market is in the order of $16 billion - bringing May's loss to about $100 billion.

But lest gloom cover all, here's today's bolter: Syrah Resources, which managed to eke out a 95 per cent jump to $1.82 - valuing the company at about $227 million.

4.25pm: And to round off where the blog began, Myer shares ended 17 cents, or 7.8 per cent lower for the day, at $2 even.That looks like its lowest close since January 10.

4.20pm: Among major movers, most were lowerBHP lost 1.2%ANZ shed 1.9%CBA lost 1% NAB fell 0.9%Westpac lost 1.3%Fortescue fell 5%

4.17pm: Of the top 200 stocks, only 19 advanced, while 15 were unchanged and 166 fell. (Among the top 50, three only posted gains.)

4.15pm: Among the major sub-indexes, materials lost 1.7 per cent, energy stocks gave up 1.4 per cent and financials shed 1.2 per cent.

4.13pm: The All Ords lost 54.7 points, or 1.3 per cent, to 4118.8

4.11pm: Some closing numbers: ASX200 closes the day off 54 points, or 1.3 per cent, to 4067.

4.08pm: And the flip side, of course, is that money is flowing in the greenback, sending it to a 20-month high against a basket of currencies, Reuters reports. (Might start to drag on US exports and therefore overall growth...assuming the Europeans are still importing.)

...
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Re: 2012 Global Stockmarket Crash
Reply #7 - May 23rd, 2012 at 6:50pm
 
http://www.infowars.com/facebook-ipo-cia-and-goldman-sachs-take-the-suckers-for-...

Facebook IPO: CIA and Goldman Sachs Take the Suckers for a Stroll

...

Kurt Nimmo
Infowars.com
May 22, 2012
The fact Morgan Stanley was the lead banker on the Facebook IPO should have set off alarm bells for investors in the NASDAQ casino. The deal had SUCKER’S BET spray-painted all over it. But like the infamous dot-com bubble and any other number of pump and dump schemes rolled out by the banksters, the Facebook IPO was designed to enrich a small number of insiders like Goldman Sachs and take the clueless horde on the outside to the cleaners.

http://money.cnn.com/2012/05/18/markets/jpmorgan-loss/index.htm?iid=Lead

JPMorgan Chase loss only going to get worse

...

NEW YORK (CNNMoney) -- One thing seems clear about JPMorgan Chase's $2 billion loss. It's no longer $2 billion. It's likely much higher.
The number being bandied about now is closer to a range of $6 billion to $7 billion, according to several people working on trading desks that specialize in the derivatives JPMorgan Chase (JPM, Fortune 500) used to make its trades and from two sources with knowledge of the bank's positions.

...

Geithner: JPMorgan loss a call for reform
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Re: 2012 Global Stockmarket Crash
Reply #8 - May 25th, 2012 at 6:05pm
 
http://www.theaustralian.com.au/business/markets/australian-currency-slips-as-ma...

Australian currency slips as market turns to Chinese monetary policy
BY: JAMES GLYNN From: Dow Jones Newswires May 25, 2012 5:15PM
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THE Australian dollar slipped slightly late today amid ongoing concerns about Greece and China's economic growth outlook.

Reports that China's loan growth was faltering eroded confidence, traders said.

China's largest banks are expected to fall short of lending goals for 2012 - the first failure to achieve the goal in at least seven years - as the economic slowdown hits lending, Bloomberg News reported.

Still, all eyes are on China, which could move to ease monetary policy over the weekend.

A newspaper backed by China's central bank said the possibility of cuts to lending rates in the near term can't be ruled out, amid accumulated evidence that growth was still slowing in the world's second-largest economy.

At 4.40pm (AEST), the Australian dollar was at US97.37 cents, down from US97.53c late yesterday. Against the Japanese yen, the Australian unit was at Y77.61, from Y77.48.

Heading into next week, markets will focus on a speech by Reserve Bank of Australia Governor Glenn Stevens on Monday. The RBA has not disclosed the topic of his speech.

Financial markets will also get a look at first-quarter business investment data; an Australian Bureau of Statistics report was likely to confirm that the global crises has yet to put a dent in spending plans.

Earlier today, JP Morgan announced slight downward revisions to its forecasts for Australian economic growth over the next two years, but said the mining boom would continue to support the economy overall.

Said Stephen Walters, chief economist at JP Morgan, Australia: "We have been unabashed true believers in the ability of Australia's mining investment boom to underpin growth in the economy, partly owing to the upbeat outlook for China and century-high commodity prices."

Citing research by Deloitte Access Economics, Mr Walters said the total pipeline for investment in Australia, which includes non-mining projects, will deliver $921 billion, or 65 per cent of GDP. Mr Walters added that 40 per cent of that total was for projects already under construction.

...
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Re: 2012 Global Stockmarket Crash
Reply #9 - May 25th, 2012 at 8:56pm
 
... wrote on May 23rd, 2012 at 5:38pm:
We're doomed.

DOOOOOOOOOOOOOMED I TELLS YA


Well thank ya for that, i might have missed it amongst all the good news.
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"Faced with what is right, to leave it undone shows a lack of courage."
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Re: 2012 Global Stockmarket Crash
Reply #10 - May 28th, 2012 at 7:10pm
 
http://www.infowars.com/spanish-bank-asks-for-biggest-bailout-in-countrys-histor...

...

Spanish bank asks for biggest bailout in country’s history

Tiffany Hsu
L.A. Times
May 27, 2012
It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid – a roughly $23.8 billion boost.
That makes it the largest bank bailout in Spain’s history. Combined with escalating concerns that Greece is about to execute its so-called Grexit from the euro currency, the news is doing nothing to alleviate the heightened anxiety in the euro zone.
Standard & Poor’s, which caused market shockwaves last summer when it downgraded U.S. debt, said the Spanish banking sector was vulnerable to turbulence in capital markets because it relies heavily on foreign funding.
The ratings agency dropped Bankia, Bankinter and Banco Popular Espanol into junk status, all with a BB+ score. Banca Civica and Bankia’s parent company, Baco Financiero y de Ahorros, also were lowered.
Read full article

http://www.latimes.com/business/money/la-fi-mo-spain-bankia-20120525,0,267898.st...
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Re: 2012 Global Stockmarket Crash
Reply #11 - May 28th, 2012 at 7:16pm
 
australia just gave 7 billion to the IMF

yes the politicians really know how to spend your $$$

http://www.ozpolitic.com/forum/YaBB.pl?num=1335088118

namaste
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ॐ May Much LOVE and CHRISTS LIGHT be upon and within us all.... namasté ▲ - : )  ╰დ╮ॐ╭დ╯
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Re: 2012 Global Stockmarket Crash
Reply #12 - May 28th, 2012 at 7:23pm
 
i will say at this point in the collapse

you watch unfold before you

this crash is a direct manifestation of criminal private

bankers whom print money from thin air

and the puppetmasters/illuminati/vatican/royal types

that control those entities,not humanity..

so the non human agenda is going

humanity will say good riddance then they will finally

see freedom from slavery and abundance

namaste

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Re: 2012 Global Stockmarket Crash
Reply #13 - May 28th, 2012 at 7:44pm
 
http://www.telegraph.co.uk/finance/financialcrisis/9292511/Lloyds-of-London-prep...

Lloyd's of London preparing for euro collapse
The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-ridden continent.

...

Richard Ward said Lloyd's of London could have to take writedowns on its £58.9bn investment portfolio if the eurozone collapses

Richard Ward said the London market had put in place a contingency plan to switch euro underwriting to multi-currency settlement if Greece abandoned the euro.
In an interview with The Sunday Telegraph he also revealed that Lloyd's could have to take writedowns on its £58.9bn investment portfolio if the eurozone collapses.
Europe accounts for 18pc of Lloyd's £23.5bn of gross written premiums, mostly in France, Germany, Spain and Italy. The market also has a fledgling operation in Poland.
Lloyd's move comes as a major Franco-German provider of credit insurance for eurozone trade, Euler Hermes, said it was considering reducing cover for trade with Greece because of the risk the country might leave the eurozone.
When a company goes bust, it is often sparked by withdrawal of credit insurance for suppliers wanting to trade with it.

A spokesman for Euler Hermes, Bettina Sattler, told Bloomberg: "The outcome of the new elections in June remains highly uncertain. Consequently, the situation is further deteriorating. The risk of Greece exiting the eurozone has been revived.
"In light of the recent developments, Euler Hermes will most probably have to switch to a more prudent approach. [We have] maintained a high level of cover for [our] customers until today. But now we are confronted with a changing situation."
Lloyd's fears are likely to be shared by a number of European businesses, which are watching developments in Greece.
On Saturday, Juergen Fitschen, co-chief executive of Deutsche Bank, described Greece as a "failed state" run by corrupt politicians.
"I'm quite worried about Europe," Mr Ward said in one of the first admissions by a major UK business leader of the scale of the crisis that would be prompted by a eurozone collapse.
"With all the concerns around the eurozone at the moment, we've got to be careful doing business in Europe and there are a lot of question marks over writing business in the future in euros.
"I don't think that if Greece exited the euro it would lead to the collapse of the eurozone, but what we need to do is prepare for that eventuality."
Mr Ward says Lloyd's had been working hard on contingency planning and had the capability to switch settlement of European underwriting from euros to other currencies.
"We've got multi-currency functionality and we would switch to multi-currency settlement if the Greeks abandoned the euro and started using the drachma again," he said.
Lloyd's has de-risked its asset portfolio in recent years, with investments split equally into cash, corporate bonds and government bonds, mostly in the US, UK, Canada and Australia. "We have de-risked the asset portfolio as much as possible," he said.
The contingency planning comes as German politicians piled the pressure on Greece ahead of elections on June 17.
A conservative member of German chancellor Angela Merkel's cabinet said today Germany would not "pour money into a bottomless pit".
On Sunday, Swiss central bank chief Thomas Jordan admitted his country is drawing up an action plan in the event of the euro's collapse.
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Re: 2012 Global Stockmarket Crash
Reply #14 - May 28th, 2012 at 7:45pm
 
A conservative member of German chancellor Angela Merkel's cabinet said today Germany would not "pour money into a bottomless pit".

_________

nice

humanity asks the same

namaste
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ॐ May Much LOVE and CHRISTS LIGHT be upon and within us all.... namasté ▲ - : )  ╰დ╮ॐ╭დ╯
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