Gold rose for a second day, rebounding from last week's 5-1/2 year low, as a retreat in the dollar prompted investors to cover short positions.» Read More
The New York Times considers the possibility that a firm or group of firms insured billions of dollars of European debt through derivatives.
Stock markets would panic if they knew what Ben Bernanke and other leading figures in the Federal Reserve really said when their tongues are loosened by alcohol, John Mauldin, president of Millennium Wave Advisors, told CNBC Thursday.
Greece is facing an exit by some of the most talented people in its workforce, as well as its broader economic problems, John Sfakianakis Group Chief Economist at Banque Saudi Al Fransi, told CNBC Thursday.
Federal Reserve Chairman Ben Bernanke’s statement on expectations for the US economy on Wednesday was “quietly risk negative,” Dennis Gartman, author of The Gartman Letter, told CNBC Thursday.
Investors are afraid of “Armageddon” in foreign exchange markets due to concerns beyond the Greek debt crisis and sluggish US growth, David Bloom global head of foreign exchange at HSBC told CNBC Thursday.
Greece’s new finance minister has attempted to renegotiate parts of the austerity deal struck with international lenders last month, drawing anger from his European counterparts as they battle to find a solution to Athens’ debt crisis, reports the FT.
With persistent uncertainty over the Greek government's policies and over the EU's ability to agree on a solution, the euro should be on shaky ground, according to some analysts.
As a two-day meeting of EU leaders gets underway in Brussels on Thursday, analysts expect the summit to provide temporary relief for financial markets with leaders present a united front and insisting they will continue to support Greece, but not much more.
Despite all the euro news, the currency is basically range-bound, this expert says. Here's how to trade it.
The Greeks have certainly embraced the classics as their economy discovers the painful virtues of a free fall.
Bank of England governors warn of weakness, and everybody is waiting for Bernanke — it's time for your FX Fix.
All eyes are on Greece yet again Wednesday morning after the Greek parliament backed Prime Minister George Papandreou's new cabinet Tuesday in a midnight vote, with some analysts saying much more is needed for markets' confidence to come back.1st paragraph of story should go here
Albert Einstein is reported to have said that insanity consists of doing the same thing over and over again and expecting different results. By those standards, the deal with Greece that is about to be agreed looks insane. The only justification, as I argued in a column on May 10, is that it is needed to play for time. This is a bad strategy. Something more radical is required, according to the FT.
Greece's parliament gave Prime Minister Papandreou a midnight vote of confidence, but the move doesn't mean Greece will ultimately go along with the austerity plan, or even avoid default.
Greece's parliament is expected to give Prime Minister George Papandreou a midnight vote of confidence, but the move doesn't mean Greece will ultimately go along with the austerity plan, or even avoid default.
Any change in Greek leadership would likely bring with it new economic and political goals, and thus may not agree to the same austerity terms already agreed to with the IMF.
Greece’s parliament square, Syntagma square, has been the center stage for protests against the country’s harsh austerity measures since spring 2010, when the first EU/IMF bailout package was signed.
Greece’s Prime Minster George Papandreou will face a vote of confidence in parliament tonight at midnight Athens time, 5PM ET. The government is working around the clock to gather support for its economic reforms and a new set of austerity measures.
There seems to be no limit to policy uncertainties, ranging from Europe’s stuttering response to its debt crisis, to questions about the end of QE2 in the US, the debt ceiling debate, and that still-elusive balance between medium-term fiscal reform and immediate stimulus to counter a weakening economy.
With markets and political analysts beginning to say that a Greek default is unavoidable, continuing to delay the inevitable may be the best bet to avoid contagion into other Southern European countries, according to some market observers.