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Europe News Eastern Europe

  • Georgia suffered a double shock in the summer of 2008 as it entered a brief war with Russia just before the collapse of Lehman Brothers signaled the start of the global economic crisis. But the troubled country is now putting its tough times behind it, Georgian President Mikheil Saakashvili told CNBC Wednesday.

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    Resolving the Greek debt mess is about more than the financial crisis and fiscal responsibility, say experts. It's also about keeping Europe together.

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    The European Union is wrestling with complex political considerations as much as economic ones that are likely to play a pivotal role in the timing and shape of any aid package to resolve the Greek debt crisis, experts say.

  • Lithuania

    As financial markets panic about the risks to the euro from laxer governments in southern Europe, the northern Baltic states are already in tight fiscal bandages as they experience Europe's most severe recession.

  • Case in point, it seems the IMF is the only body that may have the legal capability to assist these countries in their time of need. This reminds me of something, what is it?

  • Nouriel Roubini

    It would take a sharp fall in the price of oil or another crisis to change Russia's economic system for the long term, Nouriel Roubini, economist and New York University Professor, told CNBC Thursday.

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    Russia is still one of the most enigmatic, complex and confusing countries on this planet. It is a country that ever since the break down of the Soviet Union in 1991 has been promising modernization, promising to invest in new technologies and promising to reduce its economic dependence on its vast natural resources.

  • Expect 2010 to be much more turbulent year geopolitically speaking than last year, according to the latest report out by Eurasia Group.

  • Latvia's economy shed 19 percent of its value in the third quarter compared with a year earlier, the country's statistics agency said Wednesday, highlighting the woes in the European Union's worst economy.

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    1st paragraph of story should go here

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    Romania's government has collapsed and its economy is in shambles but its presidential campaign has been dominated in recent days by a video that appears to show the president striking a 10-year-old boy in the face.

  • European heads of states appointed Baroness Catherine Ashton as the European Union's foreign-policy chief, the so-called first EU Foreign Minister, Thursday evening.

  • Workers of the Opel plant, a subsidiary of General Motors, in Bochum, western Germany, block the entrance gate on Monday Oct. 18, 2004. Workers protest against plans of the carmaker's parent company General Motors to cut some 10,000 jobs in Germany. (AP Photo/Frank Augstein)

    General Motors is already feeling the backlash of its decision not to sell European automaker Opel to Magna International, as workers in Germany went on strike.  GM faces not just ire over American-European cultural differences, but worker unease at job security, European-style.

  • The European Union's former communist members spooked the West earlier this year, when some investors and analysts believed their crumbling economies could send shockwaves through the system and even sink the EU.The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries to alleviate the pain of the crisis, but their economies are still suffering. Click ahead to see what they expect for this year.

    The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries, but their economies are still suffering.

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    Held at the iconic Somerset House in London's West End, the catwalk shows and exhibitions highlighted the UK's place in the global fashion landscape along with featuring new talent.

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    A handful of top Russian business figures have created an MBA program that tackles the issues they faced themselves: bribery, relentless bureaucracy, imperfect laws.

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    Young foreigners are coming to China to look for work in its unfamiliar but less bleak economy, driven by the worst job markets in decades in the United States, Europe and some Asian countries.

  • Lots of technical talk this morning on yesterday's weakness. RBC Capital Markets, in a note to clients this morning, noted that "An inability to make new highs into late September would be a significant negative for stocks well into Q4."

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    Latvia will continue to intervene to defend its fixed-rate currency as it has sufficient foreign exchange reserves to do so, Bank of Latvia governor Ilmars Rimsevics told CNBC in an exclusive interview Wednesday.

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    A strike by metro drivers wrought havoc on the streets of London, with thousands of commuters seeking alternative ways to get to work and overground traffic sometimes grinding to a halt.