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CNBC Franchise Archive Europe: Economy

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  • 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.

  • Nicosia, Cyprus

    A proposal to impose a tax on bank deposits in Cyprus sets an "incredibly dangerous precedent" and undermines confidence in Europe, the head of a global banking association says.

  • Ratings Agencies Come Under Fire From EU Watchdog Monday, 18 Mar 2013 | 10:29 AM ET

    The European Union's markets watchdog has criticized the world's top three credit ratings agencies for a lack of transparency over how they evaluate banks and demanded more robust internal reviews of their methods.

  • Cyprus President Is a 'Fool:' Gartman Monday, 18 Mar 2013 | 7:04 AM ET
    Dennis Gartman

    Proposals to force depositors in Cyprus to contribute towards a euro zone bailout has shaken the very nature of banking to its roots, according to Dennis Gartman, editor of "The Gartman Letter", who has labeled Cyprus's recently elected President Nicos Anastasiades a "fool".

  • Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper.

  • Cyprus Economy Could Contract by 15%: Nomura Monday, 18 Mar 2013 | 6:02 AM ET
    Kakopetria in Solea Valley, Trodos, Cyprus

    The decision to force bank depositors in Cyprus to contribute towards a euro zone bailout could mean the country's economy could shrink by 15 percent over the next two years, investment bank Nomura said.

  • 'Unfair, Dangerous' Cyprus Deal Whacks Rich Russians Monday, 18 Mar 2013 | 4:17 AM ET
    A car drives past a billboard promoting a Russian bank on a main road in the southern Cypriot port of Limassol.

    As the Cypriot parliament decides on a deposit levy, the shadow of Russian money in the island looms large.

  • Chancellor of the Exchequer George Osborne poses for photographers outside 11 Downing Street.

    U.K. finance minister George Osborne, facing a double whammy of higher borrowing and lower growth, should announce an extra 10 billion pounds ($15 billion) of capital spending when he unveils his budget on Wednesday, an influential group of economists said.

  • What You Need to Know About Cyprus: El-Erian Sunday, 17 Mar 2013 | 5:47 PM ET
    People withdraw money from an ATM in the Cypriot capital Nicosia. The Cyprus government postponed a planned emergency session of parliament on Sunday to debate a controversial EU bailout.

    It just may be that Cyprus' bailout deal raises more issues than it settles. Pimco CEO Mohamed El-Erian looks at the controversy.

  • Cyprus Finance Minister: We Hope People Believe Us Sunday, 17 Mar 2013 | 11:51 AM ET
    People withdraw money from an ATM in the Cypriot capital Nicosia. The Cyprus government postponed a planned emergency session of parliament on Sunday to debate a controversial EU bailout.

    Cyprus Finance Minister Michael Sarris told CNBC that there will be no capital restrictions and that people will be able to move their money out of the country on Tuesday after banks re-open. But he acknowledged people may doubt this.

  • Cyprus Parliament Postpones Key Bank Levy Session Sunday, 17 Mar 2013 | 5:10 AM ET
    Cypriot President Nicos Anastasiades

    Cyprus's parliament on Sunday postponed an emergency session to discuss a levy on bank savings imposed to partially fund an international bailout.

  • Will Cyprus Vote for Savings Levy? Sunday, 17 Mar 2013 | 3:18 AM ET
    Cypriot President Nicos Anastasiades

    Cyprus's parliament will vote Sunday on whether savers must pay a levy on bank deposits under terms for an international bailout. Approval is far from certain.

  • Krugman Can't Admit He Was Wrong: Latvia PM Friday, 15 Mar 2013 | 12:56 PM ET

    Latvia's Prime Minister hit back at Paul Krugman's criticism of Latvia's austerity measures.

  • Cyprus Bailout Less Than Thought on Tax Boost Friday, 15 Mar 2013 | 11:50 AM ET
    Cyprus, Episkopi Bay

    A Cyprus bailout is likely to be close to 10 billion euros ($13 billion), or much lower than forecast thanks to tax measures that are likely to boost revenues.

  • Cracks Starting to Appear in Solid Italy Bond Market Friday, 15 Mar 2013 | 9:40 AM ET

    Chinks are showing in the Italian bond market's resilience to the political stalemate that followed last month's election.

  • Draghi Lectures Euro Zone Leaders About Labor Costs Friday, 15 Mar 2013 | 8:44 AM ET
    Mario Draghi

    European Central Bank President Mario Draghi gave EU leaders a crash course in macroeconomics late on Thursday, emphasizing his concerns about low productivity and high labor costs hurting the euro zone's prospects.

  • Inflation pressures in the euro zone are easing, giving governments and central bankers a touch more leeway for stimulus as the region's leaders seek to shift their focus to reviving economic growth.

  • Could Hungary Be Thrown Out of the EU? Friday, 15 Mar 2013 | 7:55 AM ET
    Budapest, Hungary

    Hungary's increasingly aggressive moves against media, judiciary and central bank independence will be discussed by European Union heads of states on Friday.

Contact Europe: Economy

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