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Greece should receive another tranche of aid from the European Union to enable it to have a second chance and restructure later, according to an analyst.
Greece will not have a snap election, the office of the Greek Prime Minister told CNBC Wednesday in response to market speculation that affected the euro late Tuesday.
The Greek government is unsurprisingly unable to find consensus on new, even stronger austerity measures aimed meeting the terms of its bailout by the European Union and the International Monetary Fund.
European leaders are pushing to impose measures that would ensure the Greek government lives up to its promise to deliver €50 billion ($70 billion) in privatization proceeds, amid skepticism that Athens can carry out the sell-offs reports the FT.
Stocks could have a rough ride into summer, as the Fed steps back from its quantitative easing program and the economy stumbles through a soft patch.
Another volcanic ash cloud threatening European airspace, a threat to downgrade Belgium's credit rating and Moody's warning that it could cut UK banks' credit ratings did not make for pretty reading for investors Tuesday.
The best type of restructuring for investors is austerity, a type of debt default that sees a government renege on its obligations to its own people rather than bond holders according to Christian Gattiker-Ericsson, the chief strategist and head of research at Julius Baer.
Fitch became the second ratings agency to threaten Belgium with a credit downgrade on Monday, saying a lack of government undermined budget efforts in one of the euro zone's most indebted states.
Stocks are likely to take their cues from the foreign exchange market again on Tuesday after risk assets fell on a series of negative sovereign-debt related headlines from the Euro zone.
The latest wave of market turbulence could sweep stocks lower into the summer, but it's not likely to be the start of a deep correction, analysts say.
John Lipsky, acting managing director of the International Monetary Fund, told CNBC Monday he will be retiring Aug. 31 when his term as first deputy ends.
Greece will create a sovereign wealth fund composed of real estate and state-owned assets as it looks to accelerate its deficit reduction program, according to the Greek finance minister George Papaconstantinou.
With divisions over how to respond to the Greek debt crisis worrying investors, one analyst believes there are considerable short-term risks for the euro.
The CEO of Europe's largest insurer by gross premiums and market capitalization has called for more aid for Greece and a plan to help the country's growth, according to German media reports.
As he prepares to stand down from the European Central Bank later this year, Jean-Claude Trichet could be forgiven for asking himself why he bothers. Having steered the euro zone through crisis after crisis, the criticism of his time running Europe’s central bank gets louder and louder.
S&P cut its outlook on Italian debt at the weekend, citing fear over its growth record, weak reform process and the likely impact of reducing its high government debt.
The European Central Bank is facing a potential crisis of its own because of "skeleton" risks amounting to several hundreds of billions of euros on its balance sheet, Dow Jones reported quoting Der Spiegel magazine.
Are you itching to try your hand at trading the euro, given all the news about sovereign debt risk and upheaval at the IMF?
Greece creeps closer to default. Is there a currency trade behind the country's woes, with CNBC's Melissa Lee and the Money In Motion traders. Also, cold cash and hot commodities--using currencies to play the recent pullback in commodities, with Dennis Gartman, The Gartman Letter.
We often get a frenzy of negative Europe speculation on a Friday afternoon either from fear of what might emerge over the weekend or mischief-making by Dollar-bulls. And today is no exception.