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Lucas Papademos might have been hoping to gently ease into retirement after close to four decades as an economist and central banker.
Euro zone weakness is impacting the global economy: European Union lowers growth forecasts.
The swirl around Italy's debt woes is likely to dominate markets Thursday, after the rapid rise in Italian borrowing costs sent risk assets cascading around the globe Wednesday.
Fears that Italy, the world's third-largest debtor nation, cannot afford its obligations shook world markets, sending investors into the relative safety of the U.S. dollar and Treasurys.
Fears that Italy, the world's third largest debtor nation, cannot afford its obligations shook world markets, sending investors into the relative safety of the U.S. dollar and Treasurys.
Italy sends the euro tumbling, and Britain needs more exports, please - it's time for your FX Fix.
Financial markets will again be put to the test Wednesday by developments in Italy, which investors fear could drag down the world economy if it does not get its fiscal house in order soon.
With all eyes on Swiss central bankers and Italian lawmakers, it's Europe day again - time for your FX Fix.
Are we still entrenched in the pattern of risk-on or risk-off? "It's too simplistic," says Kevin Ferry, Cronus Futures Management. "There's like a Pavlovian response that when the euro goes up you buy risk assets."
Wall Street bonuses are set to fall by an average of 20 to 30 percent this year from a year ago, according to a closely watched compensation survey—the weakest bonus season since the financial crisis and a reflection of the leaner times confronting the industry NYT reports.
The scale of Europe’s debt problems has forced its central bank to go beyond its traditional role in order to limit the cascading effect of the crisis, the former Chairman of the U.S. Federal Reserve Paul Volcker, told CNBC on Tuesday.
Traders, across the financial markets and around the world, expect to spend another day Tuesday watching Italian bonds.
Greece may anoint a MIT-trained economist named Lucas Papademos who once worked at the Federal Reserve as interim Prime Minister.
The markets are making it clear they think Italy will be better off financially if the country’s Prime Minister, Silvio Berlusconi, steps down. There’s a reason for that.
Italy's in upheaval and Switzerland could be headed for deflation - it's time for your FX Fix.
Weighing on on why a German-led fiscal integration in the euro zone will make it more unattractive for countries to stay with the single currency, with Jim O'Neill, Goldman Sachs Asset Management; with Greg Fleming, former president, Merrill Lynch.
As Greece's leaders tried to finalize the details of its new coalition government, Pavlos Yeroulanos, Minister of Culture and Tourism in the current regime, told CNBC that leaving the single currency would not solve its problems and ruled out a referendum on Greece's membership of the euro zone in the near future.
The agreement on the size of the haircut on Greek debt banks will take could have serious consequences for all the so-called PIIGS according to Carl Weinberg, the chief economist at High Frequency Economics.
The Group of 20 is seeking to meet again, possibly before Christmas, with the aim of resurrecting a deal to provide an international firewall around Greece, G20 sources have told the Financial Times, saying negotiators at the Cannes summit had been close to an agreement.
Europe is officially in crisis mode, but the euro is hanging tough. Here's how to prepare if uncertainty seems primed to rise on Monday.