Famously bearish economist Nouriel Roubini has branded the Olympics an “economic failure”, saying Londoners have left the city and tourists have stayed away following “excess warnings”.
Greece’s talks with the European Central Bank, European Commission and International Monetary Fund over the weekend may have gone well but not enough is being done in terms of structural reform and the Greek people expect government action to start bringing about results, Dionyssis Dimitrakopoulos, a senior lecturer in politics at Birkbeck College at the University of London, told CNBC on Monday.
Oil prices will likely gain this week after Friday’s forecast-beating U.S. jobs report though any rally may fade quickly as one month’s data will do little to ease broader concerns about an anemic recovery in the world’s largest economy, according to CNBC's weekly survey of oil market sentiment.
Italy's prime minister warned that the euro zone's debt crisis has created resentment amid the bloc's nations, which could ultimately trigger a breakup of the wider European Union.
Coming off a week "full of event risk," as one pro put it, the week ahead is relatively light. If Europe can hold it together, this market may just keep pushing higher.
The surge in grain prices amid the worst drought in the U.S. in more than half a century, has led to livestock farmers demanding the Obama administration reduce or temporarily cancel a federal mandate, which requires part of the corn crop be set aside to produce ethanol for blending into cleaner-burning gasoline.
The European Central Bank President’s end game is to very publicly — and very precisely — define single markets on to which the central bank will unleash unlimited firepower in the explicit name of saving the single currency.
Today's inaction by the European Central Bank was doubly disappointing because it had built up expectations.
The European Central kept the pressure on troubled euro zone countries on Thursday, sending a clear signal that while the bank may take further measures to bring sky-high borrowing costs down, struggling countries must act and take responsibility for their finances.
The European Central Bank is preparing “concerted action” with euro zone countries to bring down the borrowing costs of heavily indebted countries including Spain and Italy, German newspaper Sueddeutsche Zeitung reported on Thursday.
European politicians are already heading off to chateaux and caravans across the continent, but this may mean an even tougher challenge when they return to their desks in September.
Mario Monti has taken a step towards bridging Europe’s north-south divide over how to support the euro zone’s weaker economies by finding common ground with Finland over the need for concerted intervention to reduce excessively high borrowing costs, the Financial Times reports.
Inaction in Washington could hurt overseas, this strategist says.
As two of Spain’s largest regional governments rebel against attempts by the Mariano Rajoy government to rein in their spending, there are increasing concerns about Madrid’s ability to attract the foreign capital needed to finance itself, the FT reports.
Remember how the euro jumped when European Central Bank President Mario Draghi pledged to preserve it? That is so last week.
The currency is strong against its closest neighbor, the euro, and the cost of its long-term debt is at almost Germanic levels. Yet, to many, the UK doesn’t feel like the safe haven this implies.
As European banks continue to pull back in Asia, reeling under the debt crisis back home, regional banks are filling in the gap by buying their assets and increasing lending, say analysts.
Global equities have rallied in the past several sessions on expectations that central bank meetings this week would result in more monetary easing measures. But some analysts tell CNBC that further stimulus is unlikely and markets are setting themselves up for a selloff.
The Swiss National Bank is sitting on a pile of euros, and the size of that pile says a lot about where the euro is headed.
Germany’s finance minister ruled out making more concessions to help Greece, on the eve of talks with U.S. Treasury Secretary Timothy Geithner, who has urged euro zone leaders to act, the FT reports.