BRUSSELS— The European Union is launching an effort to contain the so-called "grey economy" of undeclared and untaxed work. EU Social Affairs Commissioner Marianne Thyssen said Friday: "For us it is clear: there is no place for unfair working conditions and social dumping in our European Union." The evasion of taxes on labor, meanwhile, undermines Europe's efforts... » Read More
The UAE and Qatar markets are in focus as the highly anticipated MSCI decision on whether or not to upgrade these markets from ‘frontier’ to ‘emerging markets’ status was delayed until December of this year.
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.
A check on Europe markets as the Greek prime minister survives the confidence vote, with CNBC's Michelle Caruso-Cabrera and Ross Westgate.
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.