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The Dutch finance minister and new head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, told CNBC that he was confident that an agreement could be found for Cyprus, but Russia might not be the source of the solution.
The U.K.'s newly announced "right to buy" scheme will not fuel a potentially dangerous housing bubble similar to that seen in the subprime mortgage crisis in the U.S., the U.K.'s Finance Minster George Osborne told CNBC on Thursday.
The Bank of England (BoE) may have been given the green light to use "unconventional monetary policy instruments", but it actually needs to engage in some monetary policy "realism", Andrew Sentance, senior economic advisor at PwC, told CNBC.
The euro zone's economic downturn has deepened this month, even before Cyprus's bailout debacle, a business survey showed on Thursday.
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.
H&M, the world's second-biggest fashion retailer, posted a slightly bigger drop than expected in first quarter pretax earnings.
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.
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.
Germany's Lufthansa has cancelled more than 500 flights after German union Verdi called on 33,000 workers at the company to go on strike on Thursday over a wage dispute.
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.
Cyprus's citizens are facing up to a very uncertain future, with one Cypriot telling CNBC: "We are not like Greeks."
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.
Who would have thought that what caused the next crisis would be a hamfisted piece of pure theft that proves once again that EU governments have a zero understanding of finance and what makes markets work, writes Moorad Choudhry.
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.
The number of Britons claiming unemployment benefit fell in February to a 20-month low, official data showed on Wednesday.
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.
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.
A switch from developed to emerging market stock indices could rekindle demand for Greek shares.
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.
European Union lawmakers are expected to agree on Wednesday to bar bankers in Europe from getting bonuses bigger than their salary.