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    The situation in Europe has now become deeply scandalous. People's lives are being ruined and national governments are teetering on the edge of destruction.

  • Exchanging Dollars and Euros

    The European Central Bank tapped a foreign exchange swap facility with the Federal Reserve earlier this month, borrowing $500 million. In exchange, the ECB puts up collateral of Euros worth slightly more than $500 million. The ECB wants the dollars so it can lend them out to European banks, which have been having trouble borrowing dollars at affordable rates due to fears about their financial health.

  • Demonstrators shout slogans during a protest against plans for new austerity measures on October 19, 2011 in Athens, Greece.

    Greek lawmakers have passed a deeply resented austerity bill that has led to violent protests on the streets of Athens, despite some dissent from one Socialist lawmaker.

  • European Central Bank

    "Even if the Europeans come up with something very robust...to deal with the crisis, this is going to be a long slog," says former FDIC chief Bill Isaac.

  • "There is such an ingrained negative mood internally in the U.S. about itself," Goldman Sachs Asset Management Chairman Jim O'Neill told CNBC Thursday. "People now seem to be convinced that Europe is going to drag the U.S. down. That might happen, but there is a strong likelihood that it won’t."

  • Prime Minister Gordon Brown

    Former British Prime Minister Gordon Brown has called on the United States to show leadership on the global economic recovery at the next G20 Summit to be held in Nice, France next month.

  • Greek Labor Unions Strike

    Greece has to approve an austerity plan before the "troika" - the IMF, the European Central Bank, and the European Commission - release aid. Here's how to trade the drama.

  • Greece will default, U.S. economist Martin Feldstein told CNBC Wednesday, and it might be good for the country to leave the European Union.

  • Protesters throw petrol bombs to riot police as they demonstrate in front of the Greek parliament in Athens on October 19, 2011 as a two-day general strike began against a new austerity bill demanded by Greece's international creditors to avert bankruptcy.

    Demonstrators on Wednesday threw stones and gasoline bombs at police outside parliament during a two-day general strike that unions described as the largest in years.

  • European Austerity Protest: Greece

    Tens of thousands of protesters rallied in front of the Greek parliament on Wednesday and there were isolated outbreaks of violence as a general strike shut down much of the country ahead of a vote on a painful new round of austerity measures.

  • Obama Jobs Bill and the Economy

    Discussing why President Obama's jobs bill will help create modest economic growth, with former New Mexico Governor Bill Richardson, (D), who also weighs in on why President Obama will be re-elected.

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    The youth unemployment rate is expected to show a "minimal decrease" in 2011 since its peak last year but the young, particularly in areas most hit by the crisis, are struggling to find jobs, the International Labor Organization said in a report released Wednesday.

  • Occupy protests in London

    Most people who have a mortgage are doing very nicely, thank you very much, out of lower interest rates.

  • Greek Red Cross workers demonstrate in front of the Greek Parliament the Greek Parliament on October 11, 2011. New strikes hit Greece on October 11 as the government finalized talks with its EU-IMF creditors on additional spending cuts to secure payment of a bankruptcy-saving loan. Civil servants blocked the entrance to several ministries, teachers and municipal staff walked out and a key refinery began a protest shutdown ahead of a general strike on October 18.

    Greece has been the butt of jokes throughout the financial crisis, and the implication is always the same: that the Greek people are lazy and don’t like to work.

  • The Parthenon in Greece

    A 100 percent 'haircut' or write off of Greek debt would be needed to reduce Greece's debts to a manageable level, a senior analyst told CNBC Tuesday.

  • champagne glasses

    Angela Merkel and Wolfgang Schaeuble sure know how to ruin a party. A euro party, that is.

  • Europe on the Brink of Recession?

    Jason Pride, Glenmede director of investment strategy, discusses the chances that Europe will fall into a recession.

  • european_union_crack2_200.jpg

    The euro was doomed from its inception and is the reason that Europe is in an appalling mess, an economist told CNBC Monday.

  • Britain's Prime Minister David Cameron (front 2nd Left) calls an end to a group picture with his new cabinet ministers in the garden of Number 10 Downing Street in London, England.

    Embattled UK secretary of state for defense Liam Fox resigned from the government on Friday after a week of continuing allegations relating to his close friend and self-styled adviser Adam Werrity.

  • Money Match Up

    Is the currency market confirming the stock rally? Should you buy into the risk rally or get short currencies, with CNBC's Melissa Lee and the Money in Motion traders. And will China GDP results crush the risk on rally, with Donald Straszheim, ISI Group.