The debt crisis will continue to plague the euro zone even if Greece gets an agreement and its second bailout, with Portugal likely to be the next country to face the scrutiny of the markets, an economist told CNBC Monday.
“We do not want higher inflation and we’re not tolerating higher inflation,” Fed chairman Ben Bernanke told Congress yesterday. In a way, that’s true. Washington is exporting higher inflation , which it does not want, to the emerging world, which must tolerate it. And Brussels has joined in.
U.S. markets lose early gains after a surprise drop in consumer confidence. Homebuilders are down today after home prices fall again. RadioShack shares plunge after the company severely lowers its Q4 forecast. And the bull run in gold appears to remain intact.
Hopes for a Greek deal persist, and British consumers are feeling better - it's time for your FX Fix.
Euro zone unemployment has risen to its highest level since the euro single currency was introduced, data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe's floundering economy.
Chancellor Angela Merkel cemented her political ascendancy in Europe on Monday when 25 out of 27 EU states agreed to a German-inspired pact for stricter budget discipline, even as they struggled to rekindle growth from the ashes of austerity.
Germany's unemployment rate fell to a record low in January, data showed, though subdued retail sales figures suggested concern about the euro zone crisis rather than a healthy jobs market had driven consumer spending in the run-up to Christmas.
Markets in Europe extend losses as Wall Street slumps. Bank stocks among the biggest losers. Yields fall in the latest 5- and 10-year auction of Italian debt. Negotiations between Greece and private-sector creditors continue. Underwriters hike cost of insuring Portugal bonds and want upfront payment. And Germany's Merkel to actively support re-election efforts of Frances's Sarkozy.
"I am convinced we can avoid a Greek default," Wolfgang Schauble, Germany Federal Minister of Finance tells CNBC's Maria Bartiromo. "We are trying to do a growth friendly deficit deduction," he adds. Oilli Rehn, European Commissioner for Economic and Financial Affairs, also weighs in.
European investors fled a range of long-term investment funds in December 2011, capping a bad year for the fund management industry as a whole, research published on Thursday revealed.
Despite recent actions by European regulators, billionaire investor George Soros told CNBC's Maria Bartiromo, more is needed to safeguard the teetering euro zone amid a possible Greek default.
German Chancellor Angela Merkel has rejected calls for a big increase in the eurozone's rescue fund.
European markets close mostly down over ongoing concerns over a Greek debt deal. Billionaire George Soros says we need to strengthen Italy & Spain. Telecom shares fall after Ericsson misses sales and profit forecasts. German business sentiment rises for the third straight month. Treasury sells $35 billion in 5-year notes at yield of .899 percent.
Employment is the most important issue facing the world over the next decade, Vikram Pandit, chief executive of Citigroup, along with the other co-chairs of the World Economic Forum, told journalists in Davos Wednesday.
We often view Germans as stern, humorless, efficiency freaks who rarely fail. Think Angela Merkel. Perhaps that's not a fair characterization. Here are three examples this week that Germans can be funny, crazy, and fail.
Even if Greece defaults in the next few months, the euro zone’s debt crisis will remain unresolved, particularly if any default is disorderly, a strategist told CNBC Thursday.
Britain should use the euro zone debt crisis to renegotiate its position in the European Union, an independent think tank set up by UK business leaders told CNBC.
In turn, the "Mad Money" host thinks global prospects look brighter.
Steve Crawford, Centerview Partners co-founder & partner, discusses the role of private equity in the U.S. economy, and also what the latest developments in Europe mean for U.S. markets and deal-making.
Insight on how the global markets will respond to the S&P downgrades of several Euro Zone economies, with Kevin Ferry, Cronus Futures Management, and Marchel Alexandrovich, Jefferies International sr. European economist. "Greece is that one big uncertainty that can destroy European markets," says Alexandrovich.