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CNBC Franchise Archive Europe: Economy

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  • Cyprus Controls to Hit Foreign Transactions Wednesday, 27 Mar 2013 | 10:58 AM ET

    Cyprus is to impose a ban on cashing checks and limit the amount of cash that can be taken out of the country, a Greek newspaper reported on Wednesday.

  • As Cyprus Burns, Brussels Wants 11 Billion Euros Wednesday, 27 Mar 2013 | 10:14 AM ET

    European lawmakers voted for an extra 11.2 billion euros in EU spending on Wednesday to fill a funding gap.

  • Cyprus Bailout Won't Be Euro Zone's Last: Poll Wednesday, 27 Mar 2013 | 10:03 AM ET

    Cyprus probably won't be the last euro zone country to ask for an international bailout, according to a Reuters poll of economists.

  • Cyprus Capital Controls: Iceland Offers Hard Lessons Wednesday, 27 Mar 2013 | 8:56 AM ET
    Iceland

    For Iceland, there was a sense of deja vu when Cyprus's finance minister said capital controls would probably last "a matter of weeks". Five years after a banking meltdown, the north Atlantic island has just extended its own controls indefinitely.

  • Only 'Insane Person' Would Want to Run Italy: Bersani Wednesday, 27 Mar 2013 | 8:50 AM ET
    Pier Luigi Bersani, leader of Italy's Democratic Party

    Investor concern over Cyprus is rapidly being replaced by fears for Italy, as political deadlock continues.

  • Hands Off Our Banking Sector, Luxembourg Tells Euro Zone Wednesday, 27 Mar 2013 | 8:14 AM ET
    Luxembourg City, Luxembourg

    Luxembourg, home to several European Union institutions, has rebuffed calls from some of its partners to reduce the size of its powerful banking sector in response to the crisis in Cyprus.

  • UK Banks Need to Raise $38 Billion: Bank of England Wednesday, 27 Mar 2013 | 6:25 AM ET
    The Bank of England

    U.K. banks will be need to raise an extra 25 billion pounds ($38 billion), the Bank of England's Financial Policy Committee (FPC) said on Wednesday, detailing the capital shortfall facing the country's financial institutions.

  • Hey Euro Zone, You Overrate Yourself: Moody’s Wednesday, 27 Mar 2013 | 5:22 AM ET
    E.U. Flags

    The euro zone's awkward handling of Cyprus's bailout puts extra pressure on the bloc's sovereign ratings and shows policymakers overestimate their ability to contain the crisis, credit agency Moody's said.

  • From Finance to Sex Therapy: London Bankers Escape Wednesday, 27 Mar 2013 | 3:44 AM ET

    With thousands of jobs axed and many more under threat in London's financial center, City workers are leading an exodus from the City as they consider alternative careers and dramatic life changes.

  • Suicides, Disease: Europe's Sick Economy Costs Lives Wednesday, 27 Mar 2013 | 3:02 AM ET
    hospital.jpg

    Europe's financial crisis is costing lives, with suicides and infectious diseases on the rise, yet politicians are not addressing the problem, health experts say.

  • Cyprus Jitters: How It Could Still Go Wrong Tuesday, 26 Mar 2013 | 1:56 PM ET
    Trader on the floor of the NYSE

    Although markets initially held up in the face of renewed chaos, market watchers and analysts are warning that the flare up in the euro zone debt crisis could once again curb investor sentiment.

  • Gloom Enveloping Portugal as Austerity Drags On Tuesday, 26 Mar 2013 | 9:49 AM ET

    Austerity is grinding Portugal down. The risk is that improving exports alone will not be enough to restore growth.

  • New EU Law Could Include Tax on Uninsured Deposits Tuesday, 26 Mar 2013 | 7:55 AM ET
    EU Headquarters in Brussels, Belgium.

    It might be possible for large uninsured depositors to be "bailed-in" as part of the future resolution of a bank under a new draft EU law, the European Commission said on Tuesday.

  • Spanish Economy to Sink Deeper Into Recession Tuesday, 26 Mar 2013 | 7:37 AM ET
    The Bank of Spain in Madrid

    Spain's economy will sink deeper into recession this year, the Bank of Spain said on Tuesday, sending a stark message to the government as it prepares to revise its own growth forecast.

  • Big Cypriot Bank Depositors Could Lose 40%: Minister Tuesday, 26 Mar 2013 | 5:05 AM ET
    A Bank of Cyprus branch in Nicosia, Cyprus

    Cyprus's Finance Minister said on Tuesday big depositors in Cypriot banks could lose about 40 percent of their deposits as part of an international rescue plan.

  • Cyprus Was Unique Case, Not Model: ECB Board Member Tuesday, 26 Mar 2013 | 4:38 AM ET

    The banking crisis in Cyprus was a unique case and the rescue plan used should not be seen as a model for other European countries that fall into trouble.

  • All Cyprus Banks to Remain Closed Until Thursday Monday, 25 Mar 2013 | 6:11 PM ET

    Cyprus banks were supposed to re-open on Tuesday but the island nation late Monday ordered all banks to remain closed until Thursday.

  • Markets Jarred by Mixed Message From Europe Monday, 25 Mar 2013 | 3:14 PM ET
    Dutch Finance Minister Jeroen Dijsselbloem

    Global markets took a roller-coaster ride after a European official's comments sparked fear that the new normal in Europe will be hitting up a bank's own customers in a bailout.

  • Cyprus Clinches Last-Minute Bailout Deal Monday, 25 Mar 2013 | 1:00 PM ET
    EU and IMF officials struck a last-minute deal with Cyprus early on March 25 to resurrect a bailout for the island - but one banking chain goes to the wall and major clients, who include many Russians, will take a giant hit.

    Cyprus and its international lenders on Monday reached a last-minute rescue deal to resolve the country's financial crisis.

  • World Benefits From Fed's Cheap Money Policy: Bernanke Monday, 25 Mar 2013 | 11:13 AM ET
    Ben Bernanke

    Fed Chairman Ben Bernanke on Monday defended the central bank's aggressive easing of monetary policy, saying while it was aimed at bolstering the U.S. economic recovery, it was helping other countries as well.

Contact Europe: Economy

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