Economic Regions The European Union

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  • A man walks outside the Bank of Greece headquarters during a demonstation against government's austerity measures in central Athens.

    The world's financial markets should take some of the blame for creating the precarious situation in Greece and the other troubled nations in the euro zone, Deutsche Bank CEO Josef Ackermann told CNBC Friday.

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    The talk of the second bailout of Greece is getting louder and louder. Greek Prime Minister Papandreou reshuffled his cabinet today appointed Evangelos Venizelos as finance minister, replacing George Papaconstantinou. Deutsche Bank’s CEO Josef Ackermann has been a leadership voice in the Eurozone on this issue. Maria Bartiromo spoke to Ackermann in a CNBC Exclusive about the implications of this bailout.

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    A deal for aid to Greece has to be stitched together in the next few days, strategists say. Here's how to trade now that it's decision time.

  • IMF on Financial Risks

    The agency says that financial risks have risen since April partly because of debt sustainability in Europe, with Jose Vinals, IMF monetary & capital markets director.

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    Greece's crisis is roiling global currency markets,  but bitcoins - yes - are unscathed. Time for your Friday FX Fix.

  • A protester kicks a riot police officer during a general strike against government austerity plans, in Athens.

    Greece's hasty cabinet reshuffle has failed to boost confidence both domestically and internationally in the ability of the Greeks to help themselves out of the deepening debt crisis, Konstantinos Michalos, president, Athens Chamber of Commerce and Industry, told CNBC Friday.

  • Jim O'Neill

    Russia and China are the most attractive BRIC countries at the moment, according to Jim O’Neill, Chairman of Goldman Sachs Asset Management.

  • Spain

    Following a disappointing bond auction in Madrid on Thursday, the firewall that markets thought existed between Greece, Portugal and Ireland and the much bigger and systemic economies of Spain and Italy is in danger of being shown to be an illusion, according to Mike Riddell, a fund manager at M&G in London.

  • Greece

    The sluggish state of the U.S. economy will once more be the grist for markets, if Greece's short term financing needs are met.

  • If Greece defaults on its sovereign debt, the effects will be global. Everyone from Japanese savers to US retirees is likely to feel the effects. Let's run through the dominoes that could fall after a Greek default.

    What happens if Greece defaults? Everyone from Japanese savers to US retirees is likely to feel the effects. Learn more.

  • Betty Davis in 'All About Eve'

    More Greek drama: rapid price changes in a corner of the currency markets suggest banks are worried about an interbank lending freeze, absent a rescue plan for Greece.

  • Riot policemen push back demonstrators as they try to approach the finance ministry in Athens.

    When you have a country with a debt-to-GDP ratio that rises above 150%, historically that country defaults. I bring this up because the debt-to-GDP ratio in Greece is somewhere in the neighborhood of 160%.

  • Greek riot policemen clash with protestors in the center of Athens on May 5, 2010.

    The executive in charge of restructuring Lehman Brothers sees some "striking" similarities between his company and Greece, he told CNBC Thursday.

  • Regardless of whether there is another Greek “save”, preventing the actual default that still seems inevitable, the fact remains that adding debt to try and solve a debt crisis is a moronic approach when your interest costs already exceed your tax revenues (as is currently the case in Greece).

  • A protester kicks a riot police officer during a general strike against government austerity plans, in Athens.

    Markets took a tumble on Thursday on fresh worries about the Greek debt crisis and European policy makers were urged to come up with a credible plan to restructure the country's debt.

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    The euro is sliding, the safe-haven Swiss franc is rising, and everyone is watching Greece — it's time for your FX Fix.

  • Uncertainty Spooking Markets

    Investors are watching Greece and worrying about the markets. Sarat Sethi, Douglas C. Lane & Associates and Stuart Schweitzer, JPMorgan Private Bank weigh in on the global economic future.

  • One euro and U.S. dollar

    The dollar will stay at around the $1.40 mark against the euro for some time as both currencies face downward pressure and the euro is resistant to bearish news, Dennis Gartman, hedge fund manager and author of The Gartman Letter, told CNBC Wednesday.

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    A new bet has been placed on the the Greek debt crisis. It backs a growing view among investors that Athens may be about to suffer a messy default that could spark a run on the country’s banks and a deeper eurozone crisis, the FT reported.

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    The Greek debt crisis fanned a broad sell off Wednesday and it will no doubt keep markets on edge Thursday.