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Europe made a serious mistake in trying to carve itself out as a services industry region to the detriment of manufacturing, a CEO told CNBC Thursday.
Tensions between Greek Prime Minister George Papandreou and Finance Minister Evangelos Venizelos are increasing the risk of a Greek government collapse, after Europe and the International Monetary Fund (IMF) warned the debt-laden country Wednesday that it will cut off its aid flow until a planned referendum is resolved.
The European council of heads of states have met 7 times this year and still have another meeting in the diary. Europe’s finance ministers have met 11 times and plan two more before the year is out.
More curve balls from Europe are likely to be hurled at Thursday's markets, as traders also look to U.S. economic data for signs of continued improvement.
To cut or not to cut? The new president of the European Central Bank will make a decision sure to move the euro on Thursday.
With Greece’s government on the brink of collapse, even the successful adoption of Prime Minister George Papandreou’s referendum on a debt deal leaves room for volatility and uncertainty in Europe for weeks, historian and author Niall Ferguson told CNBC Wednesday.
The question remains is the glass half full—the economy showing new signs of life as indicated by preliminary data for third quarter GDP growth at 2.5 percent—or is it half empty—the economy creating too few jobs and growing too slow to be self sustaining?
The European Central Bank: The big bazooka. There are plenty of important events this week, from Federal Reserve Chairman Ben Bernanke's presser to the Group of 20 nations (G20) to nonfarm payrolls. But the story most closely watched is ECB President Mario Draghi's first press conference tomorrow. Why? Not just because many believe he may cut interest rates a month early, it's that many are betting he will reiterate that he is going to continue to buy sovereign bonds.
When Jon S. Corzine joined MF Global last year it seemed like a strange choice — the firm had none of the glamour, let alone the profits or footprint of Goldman Sachs, the bank he ran during the 1990s.
Greek Prime Minister George Papandreou is gambling his political life and legacy on a no confidence vote on Friday, which could be crucial to the future of Greece. To help solve Europe's sovereign debt crisis, a special organization was set up in 2010 called the European Financial Stability Facility, or EFSF. So what is it and how does it work? CNBC explains.
European leaders gathering for an emergency meeting Wednesday in Cannes could get more attention than Fed Chairman Ben Bernanke, unless he has a surprise policy move up his sleeve.
Simply incredible. After Greece entered the European Union under likely false pretenses about their financial condition, and after the European Union has obsessed for months trying to find an orderly solution to the massive debt issues of Greece, Greek leadership now decides to suddenly be uber-democratic and ask for a referendum.
The City of London Corporation joined St Paul’s Cathedral on Tuesday in suspending legal action against a group of protestors camped by the side of the cathedral.
The current European conundrum is not just a financial crisis. It’s a crisis of governance and leadership.
More uncertainty surrounds Europe as Greece calls for a surprise referendum, with Rebecca Patterson, JPMorgan Asset Management.
Europe’s recent attempt to manage the persistent debt crisis still remains a source of great concern. Naturally, the issue is magnified by the constructs of the European Union, overwhelmed by healthy egos and very little money.
Bankers have warned that the eurozone rescue fund might face lackluster demand this week for a planned bond issue designed to finance Ireland’s bail-out. The FT reports
Stubbornly high euro zone inflation data on Monday reinforced money market bets that the European Central Bank will wait until December to cut interest rates. That sentiment was echoed by Hedgeye Risk Management CEO Keith McCullough.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
"We said from the very beginning that is was something which was potentially very important and that one should not underestimate the gravity of the situation... we were not pleasing a lot of interlocutors including the governments that had a tendency to say 'no it's not that important, it's not a big deal' and so forth and I would say that unfortunately experience has proved that our diagnosis was right," Jean Claude Trichet, outgoing head of the European Central Bank told CNBC in an interview.