German lawmakers likely will delay a vote on the euro zone's fiscal compact on budget discipline because the country's main opposition party wants to insert growth-focused measures into the pact, a coalition source told CNBC.
Just weeks ago, the idea that Greece would leave the euro zone was almost unthinkable. Now, with Greece’s newly empowered political parties refusing to abide by the terms of the country’s international loan agreement and Europe’s leaders talking tough, that outcome is looking increasingly likely. The NYT reports.
Ratings agency Standard & Poor's downgrade of Spain's credit rating Thursday for the second time this year highlights the fact that austerity alone is not enough to tackle the euro zone debt problem. Experts tell CNBC that European leaders need to focus on growth now.
In Italy, the art of counterfeiting money — like winemaking, pottery, fabrics, and other fine arts for which Italy is justly famous — is often passed from father to son.
As Ford posted better than expected first quarter earnings (39 cents a share vs. 35 cent estimate) the automaker finds itself working in two worlds.
While developed and emerging market stocks have been locked in a neck to neck race so far this year, strategists tell CNBC developed market equities are likely to outperform their Asian peers in 2012.
As Prime Minister Wen Jiabao of China tours Europe this week, it is no accident that Germany occupies a special place on his itinerary. The New York Times reports.
The Hungarian government is confident that sufficient progress has been made in its negotiations with the International Monetary Fund (IMF) and the European Commission over its controversial central bank law, and it believes talks can resume on a hoped-for economic development aid package for the country, the Hungarian Economy Minister told CNBC on Wednesday.
The French government likes social media — so much so that the country’s sovereign wealth fund has invested 10 million euros in an online network. The NYT reports.
Directors often dole out personal safety perks to ease a chief executive’s tax bill. By classifying the benefits as security measures, the executives typically get a better tax treatment on the services. It’s a common corporate tax trick. The New York Times reports.
South-Eastern Europe could throw up some surprises to the downside, Peter Attard Montalto, emerging market economist at Nomura, told CNBC on Thursday.
When Lehman Brothers collapsed at the height of the financial crisis, JPMorgan Chase was at the center of the storm. The bank was a major lender to the firm, which filed the biggest bankruptcy in United States history. The NYT reports.
Mitt Romney sought to use the coveted endorsement of Jeb Bush on Wednesday to amplify his call for Republicans to rally behind his candidacy and get on with the mission of ousting President Obama. The NYT reports.
Banks will face stiff penalties and intense public scrutiny if they fail to live up to the standards of a $25 billion mortgage settlement with state and federal authorities, according to court documents filed as part of the deal Monday in federal court in Washington. The NYT reports.
A lead adviser to Greece on its debt deal, Mitu Gulati, argues that instead of repeated austerity-based bailouts, other European countries should cut a deal directly with their creditors to reduce their debt loads.
The Russian Presidential elections have once again revealed the EU’s many contradictions and exposed its dwarf-size political mass.
Jochen Wermuth, the founding partner of Wermuth Asset Management, told CNBC investors were pleased with Russia's recent presidential election, as the populace showed new signs of engaging with the democratic process.
The financial system could face a test this week as industry officials debate a provision of the Greek bailout, the New York Times reports.
Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and the International Monetary Fund have asked it to, in exchange for the 78 billion euro (about $103 billion) bailout Lisbon received last May. The NYT reports.
The European Central Bank's rescue of the region's banks by showering them with cheap loans could be creating the conditions for another financial crisis several years from now. The New York Times reports.