Topic: European Central Bank

European leaders meet in Brussels this evening for an informal dinner being billed as a showdown between German Chancellor Angela Merkel and French President Francois Hollande over the tricky issue of Eurobonds—bonds issued by the EU and backed by euro zone members collectively.

Former Greek Prime Minister Lucas Papademos told CNBC  there are no preparations underway in Greece for possibly exiting the euro, but can't "exclude the possibility" that other countries are making arrangements.

As Greece's financial stability fund approved an 18 billion euro ($23 billion) for the country's biggest banks, former Prime Minister Papademos suggested Greece is prepping to exit the euro zone.

Germany dismissed a French-led call for euro zone nations to issue common bonds, a day before a European Union leaders' summit which investors are looking to for new measures to counter the bloc's debt crisis.

Christine Lagarde, managing director of the International Monetary Fund, vowed that the organization, which is part-funding Greece’s bailout, will “never leave the table” with its new government.

The continuing political and economic crisis in Greece and its impact on the rest of the euro zone are the biggest threat to the global economy right now, the secretary general of the Organization for Economic Cooperation and Development said on Tuesday.

The Greek electorate has already bloodied the nose of its centrist parties, and now the number of undecided voters could help determine whether it remains in the euro zone.

The charismatic Greek leftist who could determine the fate of the euro begins a tour of European capitals on Monday carrying a single message: it's time to talk.

Despite efforts at official reassurance, no one really knows the consequences of a Greek exit from the euro zone, or how rapidly big countries like Spain and Italy, and their banks, will feel the effects, The New York Times reports.

International drugmakers are working with European authorities on emergency plans to keep medicines flowing into Greece if the country crashes out of the euro.

Forget Greece, which is an "insignificant" economy, it is China that's posing the biggest risk to the global economy, Marc Faber the editor and publisher of the Gloom, Boom and Doom report told CNBC on Friday.

With stocks in Asia dropping to near their 2012 lows and investors fleeing risk assets on growing worries about Europe’s debt crisis, several market watchers say it’s time for Europe’s Central Bank to step up bond purchases and ease monetary policy further.

Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro. 

If Greece goes: An exit is likely to shatter faith in the eurozone’s integrity for ever. The Financial Times reports.