British Prime Minister David Cameron is facing criticisms of leaving the UK isolated after he said he would not agree to a new European Union treaty.
CNBC's Michelle Caruso-Cabrera and Simon Hobbs report the EU leaders are determined to strengthen the bailout mechanisms, and Germany has rejected allowing EFSF and ESM to run at the same time.
Germany is correct to insist that going forward, European member states need to commit to a binding fiscal policy and Sarkozy needs to swallow hard and accept that European institutions will have a strong say. But good fiscal policy is the ticket to the main event, not the show itself.
Today, the Bank of England left rates and quantitative easing on hold as Governor King decides to wait before more additional easing measures are taken and says that the events in Europe are beyond his control.
Fiscal transfers from Germany to other countries in the euro zone will be essential to resolving the euro zone debt crisis in the long term, Erik Britton, director at Fathom Consulting told CNBC.
It’s very hard to follow what is going on in Europe. It’s a bit like watching a foreign language action movie blindfolded.
The idea of imposing a small tax on financial transactions is gaining popularity around the world. It’s even got a catchy nickname: the Robin Hood tax.
What may have seemed like timid or even bumbling leadership is looking more like a consistent strategy of brinkmanship aimed at remaking the euro zone in Germany’s likeness. The New York Times reports.
The reforms Chancellor Merkel is pushing—hard caps on national government deficits--will ensure either the ultimate demise of the euro, years of economic stagnation or worse.
The European debt crisis has revealed that the euro zone is in a final phase and cannot be saved as a single entity, David Murrin, chief investment officer at Emergent Asset Management, told CNBC Tuesday.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
Investors are pricing in sizable currency volatility in 2012 - and that has trading implications for you.
Will the master plan agreed to by the leaders of France and Germany on Monday work?
Commodity and currency markets are gearing up for what could be a historic week for the Euro Zone, with Stephen Schork, The Schork Report; Peter Sorrentino, Huntington Asset Advisors; and William Rudin, Rudin Management.
European leaders are running out of time to resolve the financial crisis afflicting the region, making those leaders' summit on Friday more important than any that has preceded it, according to Moritz Krämer, managing director of European Sovereign Ratings at Standard & Poor's.
Standard and Poor's should've waited at least a week to announce it had put 15 European Union nations on its CreditWatch for potential downgrade, said the chairman of tire maker Pirelli.
"Merkel und Sarkozy wollen automatische Strafen für Schuldensünder." That's the headline for the news about Angela Merkel's and Nicolas Sarkozy's plan to rescue Europe in Germany's Der Tagesspiegel newspaper.
Standard and Poor’s has warned Germany and five other triple-A rated members of the euro zone that they risk having their top-notch ratings downgraded as a result of deepening economic and political turmoil in the single-currency bloc.
CNBC's Michelle Caruso-Cabrera highlights Angela Merkel and Nicolas Sarkozy's latest proposals.
Chancellor Angela Merkel and President Nicolas Sarkozy announced in Paris today that they will push for changes to the EU Treaty to prevent governments from spending too much. There are still analysts advising clients on how to prepare for a potential breakup, with CNBC's Michelle Caruso-Cabrera. Jens Nordving, G10 FX Strategy at Nomura, also weighs in on the euro.