Time after time during the European debt crisis, grand plans aimed at drawing a line under the problem have appeared to be behind market expectations. That may be changing.
Any Eurocrat trying to think up a PR campaign for battered Europe should watch TV tonight. Euro 2012, the football tournament that kicks off with Poland against Greece in Warsaw, offers a vision of the perfect Europe, the Financial Times reports.
CNBC's Brian Shactman reports on Goldman Sachs' CEO Blankfein and German Chancellor Merkel's latest statements on the European crisis.
David Cameron will tell Angela Merkel on Thursday that she needs to act now to bring the eurozone back from the brink of disaster – a message likely to stoke irritation in Berlin and other eurozone capitals, the Finanical Times reports.
President Obama spoke separately today to German Chancellor Merkel and Italian Prime Minister Monti to discuss economic conditions in Europe, reports CNBC's Michelle Caruso-Cabrera.
A Spanish plan to recapitalise Bankia, the troubled lender, by indirectly tapping the European Central Bank for cash, was bluntly rejected as unacceptable by the ECB, European officials said, the Financial Times reports.
Spain, Italy and Greece, already fighting a financial and economic crisis, are now facing an oil crisis. Olive oil, that is. the Financial Times reports.
The struggling entrepreneur in Greece has had to work much harder to make it because of bureaucracy and the recession. CNBC's Michelle Caruso-Cabrera reports.
With great debate, the Eurozone will slowly but surely move to the next stage – the Greek exit – in the coming months. The question is not whether it will happen. The question is whether it will be orderly or disorderly.
Some of Europe’s biggest fund managers have confirmed they are dumping euro assets amid rising fears over a possible Greek exit from the euro zone and single currency turmoil, the Financial Times reports.
Angela Merkel, the German chancellor, finds herself increasingly on the defensive over the bonds, which she opposes as a near-term remedy for the region’s financial woes, The NYT reports.
John Lekas, Leader Capital, finds the silver lining in the escalating European debt crisis. "Germany has done a great job managing it for themselves," he says. "Greece is a lost cause."
CNBC's Bob Pisani and Art Cashin, of UBS, discuss whether German Chancellor, Angela Merkel will say no to Eurobonds.
The markets have been oversold amid intense pessimism and a relief rally will be on its way within the next month, David Murrin, chief investment officer at alternative investment firm Emergent Asset Management, told CNBC’s “Worldwide Exchange”.
If a deal is going to be struck that avoids a Greek exit from the euro zone and restores confidence in the currency bloc, it is going to have to be big and convincing to markets. As one UK politician put it last week, the German Chancellor needs to fire a “Big Bazooka” if she is to save the euro zone from its current crisis.
The Institute of Directors has endorsed a radical proposal that recommends replacing part of the UK tax system with a single income tax rate of 30 percent and reducing the government’s share of the national economy to one-third, the Financial Times reports.
The European debt crisis will be the main course at Camp David tonight as G-8 leaders gather, with CNBC's John Harwood; Don Luskin, CNBC contributor; and Jack Bouroudjian, Bull and Bear Partners CEO.
The U.S. will press the G-8 for a balance of growth and austerity policies, with CNBC's John Harwood; Tony Katz, Tea Party supporter; Joy Reid, TheGrio.com; and Bob Tyrrell, The American Spectator.
David Cameron, Britain’s prime minister, will on Thursday warn that the single European currency could unravel in a way that “carries huge risks for everyone” unless the eurozone’s 17 members move rapidly towards full fiscal and political union.
The European Central Bank has reacted to uncertainty over Greece’s future in the eurozone by excluding four of the country’s banks from its regular liquidity providing operations.