Tens of billions of funding support for European banks appears to have shifted to the emergency lending assistance program of the European Central Bank from the long-term refinancing operations, an indication that some European banks may be in dire financial straits.
Irish voters head to the polls Thursday to vote on the new European treaty – but with substantial numbers of undecided voters, the result is far from a foregone conclusion and could isolate the country from the rest of the European Union.
Faced with so much market volatility and uncertainty, fund managers say they have sharply scaled back their exposure to countries in the euro-era “periphery”. They have, moreover, become highly selective about investing in banks, the Financial Times reports.
Greece will leave the euro zone on June 18 if the populist government wins the country’s elections on the 17 as the rest of the euro zone rounds on "cheaters," Nick Dewhirst, director at wealth management firm Integral Asset Management, told CNBC.com Monday.
Greece will try to attract investment by becoming more “business-friendly” and cutting taxes, a politician from right-wing New Democracy, which is leading opinion polls at the moment, told CNBC Monday.
The technocratic government of Mario Monti has made significant progress towards overhauling Italy’s economy since it came to office last year, but has not done enough to combat tax evasion and the country’s sizeable black economy, an EU finding to be released this week has determined, the Financial Times reports.
Spain, Italy and Greece, already fighting a financial and economic crisis, are now facing an oil crisis. Olive oil, that is. the Financial Times reports.
With great debate, the Eurozone will slowly but surely move to the next stage – the Greek exit – in the coming months. The question is not whether it will happen. The question is whether it will be orderly or disorderly.
Greece is back on top of the international economic and political agenda after a brief respite. How can you build a firewall around your portfolio to insulate yourself from the big fat Greek mess?
Adam Parker, Morgan Stanley chief U.S. equity strategist; Ken Rogoff, Harvard University professor; and Raghuram Rajan, University of Chicago professor, weigh in with their outlook on the markets and direction of the global economy, including the strength of the U.S. recovery and the looming fiscal cliff.
With investor caution at unprecedented highs and no end in sight to the debt crisis, one investment manager thinks he has the definitive list on where to invest to maximize returns despite market volatility.
French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.
Some of Europe’s biggest fund managers have confirmed they are dumping euro assets amid rising fears over a possible Greek exit from the euro zone and single currency turmoil, the Financial Times reports.
The euro has had a little bounce after its early morning tumble. Here's where one strategist says it's headed next.
"In the near term, I think the move is lower and the fundamentals are working against the euro," says Willie Williams of Societe Generale. The FMHR traders weigh in on European concerns and the best currency play right now.
"It's out strong preference that Greece stays in the euro zone". We are working on plan A," Joerg Asmussen, member of the Executive Board of the ECB, told TVN/CNBC.
The euro zone debt crisis will continue to dominate European stocks in 2012, with even well-run companies in danger of being sucked into the morass, according to S&P Capital IQ.
Joint bonds issued by the euro zone, also known as Eurobonds, are one of the possible solutions to Europe’s debt crisis, Joaquin Almunia, vice president of the European Commission told CNBC, “but many conditions would have to be met” before they were introduced.
Greece will leave the euro zone next year and the country's new currency will "immediately fall by 60 percent," according to Citi chief economist Willem Buiter.
Ever wondered why European politicians appear so calm when attending summits in Brussels or G8 meetings despite all the talk of a “Grexit” and economic Armageddon?