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World Economy Europe News


  • BoE Warns UK Banks May Lack Enough Capital

    The Bank of England has a good case for restarting monetary stimulus, and may need to buy up to 175 billion pounds more of government bonds if growth is far below potential, a senior policymaker said.

  • Silvio Berlusconi represents the country's darker side of Italy in a controversial new documentary

    The controversial new documentary's Rome premiere was canceled, its subject deemed "too political" ahead of elections this Sunday.

  • Italy's Finmeccanica Delays Results Over India Probe Friday, 22 Feb 2013 | 1:53 AM ET

    Italian defence group Finmeccanica has delayed publication of its 2012 results after a bribery probe connected with the sale of 12 helicopters to Indian authorities, it said on Thursday.

  • Britain to India: Diamond in Royal Crown Is Ours Friday, 22 Feb 2013 | 1:50 AM ET

    British Prime Minister David Cameron says a giant diamond his country forced India to hand over in the colonial era that was set in a royal crown will not be returned.

  • Italy Court OKs State Loans to World's Oldest Bank Friday, 22 Feb 2013 | 1:12 AM ET

    A court in Rome ruled on Thursday the Italian government's plan to lend 3.9 billion euros to troubled lender Banca Monte dei Paschi di Siena can go ahead. The Rome administrative court will make its decision public on Friday.

  • Things Could Quickly Unravel: Strategist Friday, 22 Feb 2013 | 1:09 AM ET
    Things Could Unravel Quickly: Strategist

    Geoffrey Yu, FX strategist at UBS, tells CNBC that the market was complacent and waited too long to price in political woes.

  • Italy Elections: Hung Parliament the Biggest Risk Friday, 22 Feb 2013 | 12:45 AM ET
    Italy Elections: Hung Parliament the Biggest Risk

    Peter Griffin, Head of Global Risk Assessment and Sovereign Fixed Income at Global Interest Rates says indecisiveness in the Italian elections could result in spreads blowing out.

  • Brussels Turns Up Pressure Over Libor Friday, 22 Feb 2013 | 12:34 AM ET
    UBS to Cut Up to 10,000 Jobs

    Banks and broker-dealers ensnared in the Libor-rigging scandal are facing fresh pressure to settle with Europe's top competition authority, the Financial Times reports.

  • Action in the Euro Could Dictate Wall Street Friday Thursday, 21 Feb 2013 | 9:19 PM ET

    Traders will be watching the track of the euro Friday, as they decide how defensive they should be going into the weekend. Thursday was a second day of "risk-off" selling with stock, commodities and the euro all heading lower.

  • Italy Vote May Not Give Country What It Needs Thursday, 21 Feb 2013 | 7:51 PM ET

    Silvio Berlusconi's resurgence and the rise of a foul-mouthed populist comedian have thrown Italy's weekend election wide open, with deep uncertainty over whether the poll can produce a positive outcome.

  • Another Falklands Conflict? Argentina's Rhetoric Heats Up Thursday, 21 Feb 2013 | 12:24 PM ET
    Argentinian Foreign Minister Hector Timerman leaves in a car from Britain's Houses of Parliament in London, on February 5, 2013.

    Next month will determine the eventual fate of the Falkland Islands—and the 1.4 billion barrels of oil so far discovered there. The resolution will come through a referendum among the islanders themselves. Argentina isn't happy about that.

  • ECB Posts $750 Million Profit on Greek Bonds Thursday, 21 Feb 2013 | 12:24 PM ET

    The European Central Bank made 555 million euros ($732 million) last year from Greek sovereign bonds acquired under its first bond-buy plan.

  • Italy Chooses: Tycoon, Clown or Professor Thursday, 21 Feb 2013 | 11:47 AM ET

    After a year under Mario Monti's technocratic government, Italians return to the polls on Sunday February 24.

  • Europe Closes Sharply Lower on Fed Worries Thursday, 21 Feb 2013 | 11:30 AM ET
    Europe Closes Sharply Lower on Fed Worries

    A sharp fall on the Milan stock market hit European shares on Thursday, with uncertainty over this weekend's Italian elections pushing a key euro zone equity index to its lowest level since the start of 2013.

  • Broad Sell-Off in European Markets Thursday, 21 Feb 2013 | 11:29 AM ET
    Broad Sell-Off in European Markets

    CNBC's Simon Hobbs reports weak economic data and Fed worries causes stocks to tumble in Europe. All of the major indexes closed sharply lower.

  • Italy's Best Are Emigrating at Time of Crisis Thursday, 21 Feb 2013 | 11:08 AM ET

    For more than a century unskilled Italians have gone abroad to escape poverty, but these days the people running for the exits are among the country's top brains.

  • Silvio Berlusconi

    The president of the European Parliament, warned Italians on Thursday not to back the scandal-ridden media tycoon at the ballot box.

  • Spain Romps Ahead with Above-Target Debt Sale Thursday, 21 Feb 2013 | 8:39 AM ET

    Spain sold more bonds than it had targeted in its third debt sale of the week on Thursday, as the Treasury makes the most of a recent easing in investor concerns.

  • Intesa CEO: 20% of Italy’s Firms 'Won’t Make It’ Thursday, 21 Feb 2013 | 7:28 AM ET
    St. Peter's Basilica in Rome, Italy.

    Twenty percent of Italian companies are set to fail, Intesa Sanpaolo Chief Executive Enrico Cucchiani, told CNBC on Wednesday.

  • Global Markets Update: EU Shares Lower Thursday, 21 Feb 2013 | 6:12 AM ET
    Global Markets Update: EU Shares Lower

    CNBC's Kelly Evans reports concerns on the future of quantitative easing from the Federal Reserve, and weak economic data sent European sharply lower on Thursday.

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Europe Video

  • Can the UK balance its budget by 2020?

    Richard Fuller, Conservative MP, and Rain Newton-Smith, director of economics at the CBI, discuss whether or not the U.K. finance minister George Osborne can reduce the country's budget deficit.

  • Turkey and Russia need each other: economist

    Arda Tunca, economic editor for Brandmap magazine, discusses possible problems for Turkey if its economic relationship with Russia deteriorates after a Russia fighter jet was shot down by the Turkish military.

  • Are problems lurking in bond markets?

    Bryn Jones, head of fixed income at Rathbones, says six percent of the European high yield market is junk and many investors are not being compensated for taking these risks.