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Central Banks European Central Bank

  • The cost of insuring Italian debt against default rose to a record high on Monday one day before a key bond sale, while Greek credit default swaps also hit historic highs on growing worries that the country may go bankrupt.

  • Map of Europe

    Carl Weinberg, the chief economist at High Frequency Economics is very worried about Europe. His central forecast is that the debt crisis will lead Europe into a depression that will mean soaring unemployment, deflation and zero interest rates for the foreseeable future.

  • Angel Gurria, secretary-general of the Organisation for Economic Co-Operation and Development, issued a strong defense of the euro over the weekend.

  • Outgoing European Central Bank’s executive board member Juergen Stark

    It has been another dramatic weekend in the euro zone. On Friday, Germany’s representative on the European Central Bank's governing council, Juergen Stark, resigned in protest at the bank's decision to buy Italian and Spanish bonds. He will be replaced by German deputy finance minister Joerg Asmussen.

  • Tokyo Exchange

    Major Asian stock markets dropped between 2 and 3 percent on Monday after the resignation of European Central Bank’s de facto chief economist Juergen Stark heightened uncertainty for investors. A number of analysts and investors told CNBC they forecast a further global selloff given a lack of clear policy solutions from Europe.

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    Greece is unable to repay its debts, according to Richard Bove, banking analyst at Rochdale Securities, and given that the euro zone banking system has yet to mark sovereign debt holdings to market, many banks will be forced to raise new capital.

  • SocGen's CEO on Rumors

    CNBC's Maria Bartiromo questioned Frederic Oudea, Societe Generale chairman & CEO, regarding exposure to the debt crisis and rumors about the company's capitalization.

  • Money Match Up

    The euro is in free fall as panic over Europe heats up. Discussing how low the euro will go, with CNBC's Melissa Lee and the Money in Motion traders. Will the Greeks get the boot from the Eurozone?

  • ECB Confirms Stark's Resignation

    CNBC's Steve Liesman and Silvia Wadhwa have the details on ECB board member Juergen Stark's resignation and reaction from the ECB.

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    Currency intervention gains steam, economic reports lose it - it's time for your FX fix.

  • French finance minister Christine Lagarde is seen as a front-runner to succeed Strauss-Kahn.

    Christine Lagarde, the managing director of the International Monetary Fund, warned that the global economy is entering a "dangerous new phase" on Friday, ahead of the G7 summit in Marseilles, France.

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    The euro is nothing more than an economic mirage because it lacks the essential building blocks of a long-term secure currency, according to Tim Martin, chairman of UK pub restaurant chain JD Wetherspoon.

  • Greece

    The boss of the Greek debt office (PDMA) has told CNBC that Friday is not the deadline for the debt swap plan.

  • NYSE Traders

    Markets Friday will debate the merits of President Obama's $447 billion jobs package and monitor G-7 finance ministers, who meet in France against a backdrop of weaker global growth and fears of financial contagion from Europe.

  • Yahoo shares surged Thursday after an activist investment hedge fund announced it had purchased a stake in the company and amid rumors that Yahoo's co-founder may be trying to buy back the company.

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    With all the action on the Continent, the British pound has been out of the spotlight. It's time for a look — and you might not like it.

  • Today's Currency Market

    Discussing today's drop in the euro and its impact on the U.S. dollar, with Nick Bennenbroek, Wells Fargo head of currency strategy.

  • Gold Back Up, Market Pops & Drops

    Volatility is alive and well in gold. Insight with George Gero, RBC Capital Markets, and the Fast Money traders look at the midday market pops and drops.

  • The Parthenon in Greece

    The Greek tragedy in several acts would appear to be approaching a climactic moment. The warnings coming out of Berlin all week have been hard to ignore: "Greece either puts up or shoves off" would seem to be the blunt message being offered.

  • Central banks go easy and the Australian jobs report disappoints - it's time for your FX Fix.