The UK government's response reflected heightened concerns that the commission will be an awkward negotiating partner, the FT reports. » Read More
"The problems in the euro zone are now affecting the mood, in Asia, the United States, Japan and elsewhere," says Angel Gurria, OECD Secretary-General, discussing the outlook on the euro zone's economic recovery and the impact of Greek debt on global markets.
The markets have been oversold amid intense pessimism and a relief rally will be on its way within the next month, David Murrin, chief investment officer at alternative investment firm Emergent Asset Management, told CNBC’s “Worldwide Exchange”.
Government spending cuts in developed countries are hurting job creation and exacerbating global youth unemployment, which remains close to the peak hit during the 2009 crisis, the International Labour Organization said on Tuesday.
The Greek electorate has already bloodied the nose of its centrist parties, and now the number of undecided voters could help determine whether it remains in the euro zone.
Gold, used an alternative to the U.S. dollar by investors in search of safety, could see a move higher once markets have greater clarity on a resolution to the Greek debt crisis, Marcus Grubb, managing director of investment at the World Gold Council, told CNBC on Monday.
Oil prices are set to extend declines as uncertainty persists over the euro zone's future, growth slows in China and the dollar rises. But international talks in Baghdad scheduled on Wednesday around Iran's nuclear program may contain losses if the country's leadership resists pressure to curb uranium enrichment, CNBC's weekly survey showed.
The Institute of Directors has endorsed a radical proposal that recommends replacing part of the UK tax system with a single income tax rate of 30 percent and reducing the government’s share of the national economy to one-third, the Financial Times reports.
The weekend’s summit of leaders from the G8, representing eight of the world’s largest economies, appeared to mark a policy shift away from austerity measures and toward stimulating economic growth – but that could be misleading.
"If the currency is not going to exist, it shouldn't be at $1.27," one strategist said, referring to the euro's exchange rate versus the U.S. dollar.
The European debt crisis will be the main course at Camp David tonight as G-8 leaders gather, with CNBC's John Harwood; Don Luskin, CNBC contributor; and Jack Bouroudjian, Bull and Bear Partners CEO.
Europe is scary right now, no question. Here's how one strategist plans to take shelter from the storm.
It is increasingly conceivable that Greece may leave the euro zone, not just because of its own political dysfunction but also because the consequences of such an exit for the rest of the Europe and the global economy no longer seem quite so scary. The New York Times reports
How much interest would you want back if you lent to huge amounts of money to someone on an unsecured basis, and if that person had unaudited accounts and a history of playing dirty when the chips are down?
The euro zone is facing its darkest hour but will emerge more competitive than in the past, the chief executive of the London Stock Exchange told CNBC on Friday, though he noted that smaller businesses are very important to Europe’s recovery.
"Greece has its back against the wall with nowhere to go. Austerity is too hard to be socially acceptable," Domenico Crapanzano, head of European rates sales and trading at Jefferies, told CNBC.
If Greece goes: An exit is likely to shatter faith in the eurozone’s integrity for ever. The Financial Times reports.
Senior U.S. officials say President Obama will use his time with G8 leaders at Camp David this weekend to urge Europe to use the tools it has created to handle its financial crisis and to use them aggressively.
National Bank of Greece, the oldest Greek commercial bank, saw its financial condition so damaged by the crisis that it was operating with negative shareholder equity at the end of 2011.
Based on past bouts of big market swings, the dollar could get a meaningful lift if volatility rises.