In ten days on July 1st a sweeping European Union ban on Iranian imports will go into effect in response to the Islamic Republic’s burgeoning nuclear program. In addition, and just as importantly, EU based insurance firms will no longer be able to insure any ship carrying Iranian oil.
So euro zone members want to bring down borrowing costs in Europe? Good idea. That was the one tangible idea from the G20 meeting, but unfortunately they didn't say how that would be accomplished.
The number of Greeks filing and paying their taxes shot up sharply in the wake of Sunday’s contentious elections.
The Bank of England is on the verge of approving another round of monetary stimulus, with Governor Mervyn King supporting an extra 50 billion pounds ($78.5 biillion) of gilt purchases, minutes to its June 6-7 policy meeting showed on Wednesday.
Greece might be in economic crisis mode and getting productivity levels up might take time, but there are signs of improvement according to one economist.
US lawmakers and regulators have attacked London as a source of financial crises and promised tougher crossborder rules in the wake of $2 billion of trading losses at the UK unit of JPMorgan Chase., the FT reports.
“Marry in haste; repent at leisure.” Full of impetuous ardor, Germany’s partners seduced – some might say blackmailed – the continent’s most powerful economy into sacrificing monetary independence two decades ago, the Financial Times reports.
WikiLeaks' founder Julian Assange has taken refuge in Ecuador's embassy in London and asked for asylum, officials said on Tuesday, in a last-ditch bid to avoid extradition to Sweden over sex crime accusations.
Michalis A. Michael, founder and chief executive of DigitalMR, takes a historical look at the economic decline of Greece, and the potential impact of Greek schools' curriculum.
The euro gets a lift from Fed easing hopes, and U.K. inflation sags — it's time for your FX Fix.
Ewald Nowotny, National Bank of Austria governor discusses the spreading debt crisis in Europe and the health of the Spanish banks.
"The whole euro thing will eventually be doomed," says Donald Trump, Trump Organization chairman & president, expressing his thoughts on Europe's financial crisis and the future of the euro zone.
The Greek election result has simply postponed the finding of a lasting solution to the euro zone debt crisis to a later date and meetings between international leaders are not tackling the underlying issues, Richard Cookson, Global Chief Economist at Citi Private Bank told CNBC.
Russia is setting aside up to $40 billion for this year and next to shore up the economy in case the crisis in the euro zone escalates and spreads, and is dusting off a plan that would allow the government to recapitalize the country’s banking system.
The new government of Greece, expected to be announced within days, will need some more “breathing room” from its international creditors, a rising star within the conservative New Democracy party has warned.
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CNBC's John Harwood reports on the details of President Obama's comments on the Greek election; and CNBC contributors Steven Rattner and Tony Fratto, and Steve Forbes of Forbes Media, weigh in. "At the end of the day, the voters are going to understand that President Obama saved this financial system and this economy," says Rattner.
The European economic crisis has been three years in the making and its outcome is uncertain. To help clarify the situation, here's a look at what's happening now, with updates as they happen, and a look at the major players.
The "drama" in Greece has to end for the sake of Greece itself and the euro zone, George Papandreou, former Prime Minister of the country, told CNBC Monday.
The euro's upward move on the outcome of the Greek election was short lived, to say the least. Time to look elsewhere for a trade.