Fears that Italy, the world's third-largest debtor nation, cannot afford its obligations shook world markets, sending investors into the relative safety of the U.S. dollar and Treasurys.
Fears that Italy, the world's third largest debtor nation, cannot afford its obligations shook world markets, sending investors into the relative safety of the U.S. dollar and Treasurys.
The euro zone debt crisis could claim more political scalps across the euro zone, according to analysts.
The world is definitely going to face another financial crisis stemming from problems in Europe, Jim Rogers said Wednesday.
The scale of Europe’s debt problems has forced its central bank to go beyond its traditional role in order to limit the cascading effect of the crisis, the former Chairman of the U.S. Federal Reserve Paul Volcker, told CNBC on Tuesday.
Gold surged to over $1790 an ounce touching a six-week high on Monday as investors continued to pile into the traditional safe haven on an intensifying European crisis that has brought Italy's debt woes into the forefront.
The Group of 20 is seeking to meet again, possibly before Christmas, with the aim of resurrecting a deal to provide an international firewall around Greece, G20 sources have told the Financial Times, saying negotiators at the Cannes summit had been close to an agreement.
Those looking for firm action in the final G20 communique would have had a hard time finding much to get their teeth into.
Europe failed to get the leaders of the world's wealthiest economies to help out with its debt troubles, but everyone left a G20 summit Friday relieved that at least they forced the Greek prime minister not to hold the world hostage with a bailout vote.
Greek Prime Minister George Papandreou insisted he was not resigning at today's emergency cabinet meeting, according to state television.
Greek Prime Minister George Papandreou's grip on power looked shakier Thursday after the storm surrounding his wish for a referendum on Greece's bailout deal grew, but he apparently has no plans to leave power.
Europe made a serious mistake in trying to carve itself out as a services industry region to the detriment of manufacturing, a CEO told CNBC Thursday.
Tensions between Greek Prime Minister George Papandreou and Finance Minister Evangelos Venizelos are increasing the risk of a Greek government collapse, after Europe and the International Monetary Fund (IMF) warned the debt-laden country Wednesday that it will cut off its aid flow until a planned referendum is resolved.
The European council of heads of states have met 7 times this year and still have another meeting in the diary. Europe’s finance ministers have met 11 times and plan two more before the year is out.
Are Greek austerity measures too severe? Was Greece's PM correct to call a referendum? Peter Morici, University of Maryland, and Jeffrey Kleintop, LPL Financial, discuss.
Telis Demos, Financial Times, sheds insight on the meeting between European leaders after the Greek PM called for a referendum on the bailout deal.
Simply incredible. After Greece entered the European Union under likely false pretenses about their financial condition, and after the European Union has obsessed for months trying to find an orderly solution to the massive debt issues of Greece, Greek leadership now decides to suddenly be uber-democratic and ask for a referendum.
Just five days after EU leaders agreed a new plan to tackle the debt crisis, it is already facing huge criticism. The market, fueled by the collapse of MF Global on Monday, is showing Angela Merkel and Co exactly what it thinks on Tuesday.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
It's been an ama-a-a-zing week for risk-on currencies, but this strategist thinks a shift is coming.