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CNBC Franchise Archive Europe: Economy

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  • Euro Zone Downturn Deepening, Even Before Cyprus Thursday, 21 Mar 2013 | 5:06 AM ET
    The Euro Zone Is ‘Shaping Up Quite Well’: Think Tank

    The euro zone's economic downturn has deepened this month, even before Cyprus's bailout debacle, a business survey showed on Thursday.

  • Hermes Posts Record Margin, Beats Forecasts Thursday, 21 Mar 2013 | 3:36 AM ET
    Forth & Towne opened four stores in the Chicago area today including this one in Skokie, looking to provide the 35-year-old-plus woman with fashionable, fitting clothing as well as accessories.

    Hermes said operating margin last year reached its highest level since they listed in 1993 on robust demand for its hand-crafted leather goods and printed silk scarves.

  • Medvedev Lambasts EU Over Cyprus Levy Thursday, 21 Mar 2013 | 2:26 AM ET

    Russian prime minister Dmitry Medvedev has lambasted the EU's handling of the Cyprus debt crisis, comparing a plan for a levy on bank deposits to measures that hurt savers under the Soviet Union, the Financial Times reports.

  • Cyprus and Russia Discuss Banking, Gas Deals Wednesday, 20 Mar 2013 | 7:34 PM ET
    A closed sign hangs in the window of a Bank of Cyprus Plc branch in Nicosia, Cyprus, on Wednesday.

    Cyprus and Russia resumed talks Thursday to strike a deal that could include cooperation on banking and natural gas reserves, the Cypriot finance minister said.

  • Cyprus Shuts Banks Until Tuesday, Seeks Russia Aid Wednesday, 20 Mar 2013 | 1:21 PM ET
    Michalis Sarris, the Cypriot minister of finance

    The Cypriot government is considering capital restrictions if banks reopen on Thursday, a senior government official told Reuters as negotiations between the country and Russia over financial assistance continue in Moscow.

  • Credit Rating Fears Return as UK Growth Slashed Wednesday, 20 Mar 2013 | 10:31 AM ET

    A downward revision for U.K. growth reignited fears on Wednesday that the country's credit rating could once again be downgraded as finance minister George Osborne's budget statement failed to inspire confidence.

  • 'We Will Be Slaves for Russia': Cypriots Warn Wednesday, 20 Mar 2013 | 10:27 AM ET

    Cyprus's citizens are facing up to a very uncertain future, with one Cypriot telling CNBC: "We are not like Greeks."

  • IMF Chief Lagarde's Paris Home Searched by Police Wednesday, 20 Mar 2013 | 10:02 AM ET
    Christine Lagarde, managing director of the International Monetary Fund

    French authorities searched the Paris flat of IMF chief Christine Lagarde as part of an investigation into her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer said.

  • Italian President Seeks Way Out of Political Stalemate Wednesday, 20 Mar 2013 | 6:08 AM ET
    Beppe Grillo

    Giorgio Napolitano began consultations with political leaders to try to find a way of forming a government after the deadlocked election which left no party with a majority in parliament.

  • UK Jobless Claimant Count at Lowest Since June 2011 Wednesday, 20 Mar 2013 | 5:42 AM ET
    People look at pieces of paper with job openings

    The number of Britons claiming unemployment benefit fell in February to a 20-month low, official data showed on Wednesday.

  • Russia-Cyprus Talks: Maybe More Than a Loan Deal Wednesday, 20 Mar 2013 | 5:31 AM ET
    Cyprus Finance Minister Michael Sarris

    Cyprus's finance minister, Michael Sarris, has told CNBC that talks with Russia are "looking beyond" a loan extension, adding to speculation that Russia could come to Cyprus's financial aid.

  • Cyprus Church to the Rescue Wednesday, 20 Mar 2013 | 5:14 AM ET
    Premium: Archbishop Chrysostomos II

    The head of Cyprus' influential Orthodox church, Archbishop Chrysostomos II, says he will put the church's assets at the country's disposal to help pull it out of a financial crisis.

  • Emerging Market Switch Could Boost Greek Stocks Wednesday, 20 Mar 2013 | 4:04 AM ET

    A switch from developed to emerging market stock indices could rekindle demand for Greek shares.

  • Cyprus Furor Is Rocky Start for New Dutch 'Mr Euro' Wednesday, 20 Mar 2013 | 3:42 AM ET
    Newly elected Eurozone President and Dutch Finance Minister Jeroen Dijsselbloem attends an Eurogroup meeting.

    For Jeroen Dijsselbloem, the new face of the euro zone, a furor over a decision to hurt savers in Cyprus has been a baptism of fire in his role as chairman of the Eurogroup of finance ministers of the currency area.

  • No Way! Cyprus Parliament Rejects Bank-Deposit Tax Tuesday, 19 Mar 2013 | 5:51 PM ET
    A Cypriot woman shouts slogans as she holds a placard during a protest against an EU bailout deal outside the parliament in Nicosia on March 19, 2013.

    "[W]e are saying [to international lenders] that if you think that by doing this you are fixing things, by...destroying our economy...then we have to say 'no,'" one Cyprus politician said.

  • Cypriot security guards stand outside the parliament building in Nicosia.

    In 2004, former Goldman secretary was convicted of embezzling over $7 million from her investment banker bosses. Guess where she hid the money?

  • How Russia Could Take Revenge Over Cyprus Deal Tuesday, 19 Mar 2013 | 2:58 PM ET

    Russia could avenge the loss of billions of dollars in Cyprus by cutting Germany's energy supply, one analyst said.

  • French Budget Minister in Tax Fraud Probe Resigns Tuesday, 19 Mar 2013 | 2:46 PM ET
    Jerome Cahuzac

    French Budget Minister Jerome Cahuzac has resigned after being implicated in a tax fraud investigation.

  • French Minister Faces Formal Tax Fraud Probe Tuesday, 19 Mar 2013 | 12:25 PM ET
    Jerome Cahuzac

    French prosecutors opened a formal tax fraud investigation on Tuesday into allegations that Budget Minister Jerome Cahuzac held a secret bank account in Switzerland.

  • UK Sends Plane-Load of Cash to Cyprus for Its Troops Tuesday, 19 Mar 2013 | 11:39 AM ET
    Nicosia, Cyprus

    Britain said on Tuesday it had sent one million euros ($1.30 million) in cash to Cyprus aboard a military plane for its troops on the island in case cash machines and debit cards stop working.

Contact Europe: Economy

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