CNBC's Simon Hobbs reports on how European banks are leading the tumble in markets, what the ECB may do to deposit rates, and the end of rally for mining.» Read More
There is no way Greece can avoid a default, says Michael Spence, Nobel Laureate, with Mark Olson, former Federal Reserve governor.
Will Greeks will better accept austerity if the banks take some pain? Insight with Antonio Garcia Pascual, Barclays Capital and Jim Rickards, Omnis,Tangent Capital.
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.
CNBC's Jim Cramer connects the dots between Greece, the markets, and Apple.
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.
Jonathan Henes compares the Greek debt crisis to a sequel to “Too Big to Fail,” when without a plan or a process, the government let Lehman fail and chaos ensued.
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.
European stocks rose early Tuesday and the euro stabilized versus the Swiss franc on hopes that euro zone officials will find a way to prevent a Greek default, as Fitch said even a voluntary maturity extension would lead to a cut in ratings.
On last Friday's show, I provided a trading idea for the Federal Reserve's monetary policy meeting. Here it is again, with an update.
A confidence vote looms in Greece, and a Bank of England official goes all dovish - it's time for your FX Fix.
The matters of food production, lack of transparency in food stocks and speculation on commodities markets need to be tackled as they are affecting food prices, French agriculture minister Bruno Le Maire told CNBC.com Monday.
With the world’s markets focused on the no-confidence vote in Athens Tuesday evening, one of the big questions facing the investors is if Portugal and Ireland could fall into similar difficulties if dreaded contagion where to spread across Europe’s periphery.
Late last year, the Apple iPhone became the best-selling device at Finland’s leading mobile operator, a highly embarrassing situation for Nokia, the struggling mobile phone maker that has long been Finland’s corporate standard-bearer.