What Greece could have done if it had it’s own currency

www.FT.com What happens if Greece exits the euro? As the possibility increases following the country’s recent election and a vote against austerity, FT leader writer Peggy Hollinger and capital markets editor Richard Milne discuss the implications with FT analysis editor Frederick Studemann. For more video content from the FT, visit the Financial Times video section at: www.ft.com

This morning, all of the major stock indexes around the world are trading lower. The catalyst for the decline comes as JP Morgan Chase & Co (NYSE:JPM) reports a $ 2 billion trading loss caused by the a trader known as the “London Whale.” Traders are now wondering if other firms have similar trading losses out there. Just last week, Prudential Financial Inc (NYSE:PRU) plummeted after reporting earnings. The company sited a large derivative trading loss as the reason for the poor earnings results. This news from JPM is now the second report by a major firm that has admittedly taken a large loss from derivative trading. JPM has been one of the most outspoken firms against the controversial Volker Rule which would eliminate banks from proprietary trading. Other leading financial equities such as Goldman Sachs Group Inc (NYSE:GS), Morgan Stanley (NYSE:MS), ProShares UltraShort Financials (ETF) (NYSEARCA:SKF) and BlackRock, Inc (NYSE:BLK) are all likely to be very volatile today.

thank you for the “bailout” Germany. hehe. facebook: www.facebook.com

A simple explanation of what’s wrong with the global economy, and why it’s getting worse.

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the latest discoveries of blackholes in the financial universe and the populations growing permanently poorer as a result. In the second half of the show, Max talks to Dr. Yanis Varoufakis about financial horror, a currency from which you can’t escape and the Greek situation. KR on FB: www.facebook.com

Watch the full Keiser Report E247 on Thursday. In this episode, Max Keiser and co-host, Stacy Herbert, discuss the latest discoveries of blackholes in the financial universe and the populations growing permanently poorer as a result. In the second half of the show, Max talks to Dr. Yanis Varoufakis about financial horror, a currency from which you can’t escape and the Greek situation. KR on FB: www.facebook.com

Estonia, the European Union’s newest member, is the latest country to adopt the euro, having introduced the currency last year. The mood was festive at the time, but with Europe’s current financial crisis, many now taken a more sombre view. Estonia’s bn economy is the fastest growing in Europe, but as the continent’s financial woes deepen, the government is worried about the toll the eurozone’s troubles could take on its country. Al Jazeera’s Charlie Angela reports from Tallinn.

The euro zone has only a matter of weeks to take steps that will ensure the common currency’s survival, former UK Prime Minister Tony Blair says in an exclusive interview with the Journal’s Managing Editor, Robert Thomson. This interview originally aired 12/1/2011.

Speaking after the EU-Russia summit, President of ~Russia’s Federation, Dmitry Medvedev, on Thursday stated that Russia will offer Europe financial aid in order to help stabilize the European Union and the euro. “Russia will continue reinforcing financial stability of the euro area, first and foremost, through the IMF”, Medvedev said. “The European Union is our major trading partner”, he concluded.