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Europe News Eastern Europe

  • Budapest, Hungary

    The deepening euro zone crisis is threatening the integration of Eastern European nations into the single currency area, the Chief Economist at the European Bank for Reconstruction and Development (EBRD) told CNBC’s “Worldwide Exchange”.

  • Francois Hollande, France's president, arrives for a news conference following the European Leaders (EU) summit at the European Council headquarters in Brussels, Belgium, on Thursday, May 24, 2012.

    French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.

  • Euro bank notes in a briefcase

    A "ring of defense" has to be built around eastern European neighbors Romania, Bulgaria and Serbia to help them cope with the fallout from a possible Greek exit from the euro zone, bankers said on Friday.

  • European Union (EU) flags fly outside the the European Commission headquarters in Brussels.

    The European Bank for Reconstruction and Development (EBRD) expects the economies of Eastern Europe and the former Soviet Union, as well as four countries in the Middle East and North Africa, to experience a "substantial" slowdown this year because of fallout from the euro zone crisis.

  • greece_parthenon_140.jpg

    When Greece announced on Tuesday that it had made a €436 million bond payment to the hold-out investors who rejected the country's historic debt revamping deal in March, the decision came as no surprise. What’s news is where most of that money went. The NYT reports.

  • The Parthenon in Greece

    A Greek exit from the euro zone would not make things better for the stricken country or for Europe, Thomas Mirow, the president of the European Bank for Reconstruction and Development (EBRD), told CNBC.com in an interview.

  • manufacturing engineering

    Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America.

  • Algeria's oil minister, Chakib Khelil is the president of the Organization of Petroleum Exporting Countries (OPEC).

    The following is a list of oil prices needed for the nations to avoid having a budget deficit in 2008 and 2009 (as compiled by the IMF).

  • Reichstag Parliment building, Berlin, Germany

    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.

  • Victory Column

    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.

  • Spain

    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.

  • A counterfeit 100-euro-banknote.

    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.

  • Ford

    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.

  • New York Stock Exchange Traders

    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.

  • Wen Jiabao

    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.

  • Budapest, Hungary

    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.

  • france_flag_200.jpg

    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.

  • CEO_security_200.jpg

    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.

  • Istanbul's Arasta Bazaar

    South-Eastern Europe could throw up some surprises to the downside, Peter Attard Montalto, emerging market economist at Nomura, told CNBC on Thursday.

  • JPMorgan3_new.jpg

    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.