CNBC Franchise Archive Europe: Economy

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  • Spain to Revise Down 2013 Growth Target to -1% Monday, 1 Apr 2013 | 11:17 PM ET
    Wave of Evictions Leads to Homeless Crisis in Spain

    Spain will revise down its economic growth forecast for 2013 next week and seek more time from the European Union to reduce its budget deficit as recession cuts deeper than previously expected.

  • Bank Run That Wasn't: How Cyprus Avoided Mayhem Monday, 1 Apr 2013 | 6:22 AM ET

    In the end it was hardly even a stroll, let alone the widely predicted run on the banks of Cyprus.

  • Japan Just Might Be Set to Open a New Chapter Sunday, 31 Mar 2013 | 4:57 PM ET
    The Bank of Japan headquarters in Tokyo, Japan

    If the Bank of Japan meets expectations and embarks this week on a radical policy shift to crush deflation, the meeting will go down as historic.

  • Italy's Napolitano Faces Greatest Test of His Career Sunday, 31 Mar 2013 | 11:47 AM ET
    Italian President Giorgio Napolitano

    Italy's 87-year-old President will face the greatest test of his career as he tries to end the standoff preventing a new government being formed more than a month after elections.

  • Bank of Cyprus Big Savers to Lose Up to 60 Percent Saturday, 30 Mar 2013 | 4:16 PM ET

    Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under the European rescue package to save the country from bankruptcy.

  • Big Depositors in Cyprus to Lose Far More Than Feared Saturday, 30 Mar 2013 | 3:48 AM ET

    Under conditions to be announced Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, while the rest may never be paid back.

  • After Cyprus, Markets See Slovenia Closer to Bailout Friday, 29 Mar 2013 | 9:00 AM ET
    View over Lublijana, Slovenia.

    Cyprus may be a "special case" in the eyes of European officials, but their handling of its bailout is taking a toll on another small euro zone member with an over-burdened banking sector- Slovenia.

  • Europe Risks Being Too Tough on Banking Moral Hazard Friday, 29 Mar 2013 | 12:15 AM ET

    Europe has long been far too tolerant of moral hazard in its banking system. But with the Cyprus plan, the pendulum may now be swinging too far in the opposite direction. The Financial Times reports.

  • Europe Shares Shrug Off Cyprus Fears to Close Higher Thursday, 28 Mar 2013 | 12:33 PM ET

    European shares closed higher on Thursday after Cypriot banks re-opened after an almost two-week closure.

  • Italy Knows Nothing About Possible Downgrade Thursday, 28 Mar 2013 | 6:32 AM ET
    Italy Flag

    Italian Economy Minister Vittorio Grilli said on Thursday he had no knowledge of any imminent decision by Moody's to cut Italy's sovereign debt rating.

  • Hippie Commune Thrives as Europeans Tire of Chaos Thursday, 28 Mar 2013 | 3:43 AM ET

    Some European citizens are looking to escape their economic troubles by joining an Italian commune.

  • 'Cyprus Euros' Could Take on Own Value Thursday, 28 Mar 2013 | 3:16 AM ET
    A shop displays a closing down sign in Nicosia, Cyprus.

    Cyprus's plan to impose capital controls threatens to test the ties that bind Europe's monetary union and could see euros on the Mediterranean island valued differently to those in the rest of the bloc.

  • Next Crisis? Small Businesses Threaten Italy, Spain Thursday, 28 Mar 2013 | 2:57 AM ET
    Laura Massey smiles as she talks to a customer at Beetz Me in Princeton, Illinois.

    Small companies struggling to repay loans in Italy and Spain signal bigger problems on the horizon for the euro zone after the dust has settled on Cyprus's last-ditch bailout.

  • European Default Has to Happen: Mark Mobius Thursday, 28 Mar 2013 | 2:18 AM ET
    Mark Mobius, executive chairman of Templeton Asset Management's Emerging Markets Group

    As fears grow that the Cyprus crisis could spread to other parts of the euro zone, renowned investor Mark Mobius says that a default is the only way to solve the single-currency bloc's problems.

  • Remember Euro Breakup Fears? They Are Back Wednesday, 27 Mar 2013 | 10:35 PM ET

    After months of calm in global markets, concerns about the future of the euro zone are back with a vengeance as fears grow that the turmoil in Cyprus could spread to other parts of the region.

  • European shares closed lower on Wednesday as investors grow increasingly worried over the political stalemate in Italy, adding to concerns about Cyprus, which is poised to impose capital controls on its banks.

  • 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.

Contact Europe: Economy

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