The surprise winner in the Greek elections is a communist party called the Coalition of the Radical Left. Its leader spoke with CNBC in September about a Greek program to keep the country financially afloat.
In the next few months, the masquerade will end. Ultimately several Eurozone members must restructure their private and public debts, while a few may have to exit the monetary union. Greece is only the first in the line.
The euro gets beaten by election results, and Australians are going shopping - it's time for your FX Fix
Warren Buffett tells CNBC's Becky Quick the global market selloff isn't making any difference to Berkshire's investing strategy. "We were buying stocks on Friday and we'll buy the same stocks today," he says. "And we'll buy them cheaper."
The risk of Greece exiting the euro zone have risen to as much as 75 percent, according to economists at Citi. Describing such an outcome as a “Grexit,” the Citi team said, however, that the chances of a broad-based break-up of the euro zone remain very low.
Having battled his way to the Eylsee Palace and the French presidency Francois Hollande’s leadership will be tested by a far less conclusive election result from Greece.
Having seen its influence on global markets ebb in recent months Greece now finds itself at the eye of the storm again, following an inconclusive election result that saw voters reject austerity and the terms of its bailout from the European Union and International Monetary Fund.
Plans to give shareholders more power over boardroom pay will be given centre stage in the Queen’s Speech, as highly paid executives face another week of lambasting from shareholders, the Financial Times reports.
Buying shares in Facebook will not be worth the risk over the long term, according to David Lowery, equity strategist at Faraday Research.
Europe for the last four years has been a headline that has moved markets and portfolios. It now appears as if a new and dangerous chapter is beginning relative to Europe's financial solvency.
Richard Ilczyszyn, iiTrader.com, offers his view on the jobs numbers, crude oil and why the French election could be "trouble for the EU."
Stocks could see a move higher similar to gains seen in 2003 and 2009, leading to a rise of as much as 40 percent in 2012, Michael Gayed, Chief Investment Strategist at Pension Partners, told CNBC's European Closing Bell.
After hitting record lows on Wednesday, German bund yields are reflecting a difficult market environment and could remain low for some time; Richard Urwin, Managing Director and Head of Investment at BlackRock told CNBC’s Squawk Box Europe.
Elections in Greece on Sunday could throw the country into disarray once more, unsettling investors who believed that a deal struck earlier this year to restructure the country’s debt and avert a default marked the end of a major chapter in the euro zone debt crisis.
Greece needs to see consensus among the various political factions and to renegotiate its bailout to return to markets and build a long-term program of economic growth, according to the President of the Athens Chamber of Commerce.
The London Metal Exchange, the world’s largest metal-trading platform, should be able to get an offer of at least a billion pounds ($1.6 billion), CEO Martin Abbott told CNBC.
The European Central Bank will leave rates on hold on Thursday and continue to assess the impact on the economy of two rounds of cheap, 3-year funding for banks, analysts told CNBC, warning that the bank’s ability to fight the crisis is waning.
Repairing the economy and regulating banks is “the biggest challenge the Bank [of England] has faced for decades,” Sir Mervyn King said on Wednesday in a speech in which he conceded for the first time he should have “shouted from the rooftops” about risks before the financial crisis.
The UK had its latest testy exchange with the rest of the European Union Wednesday night, as Finance Minister George Osborne had an angry outburst at the negotiating table during talks about bank rules.
The chief executive of Societe Generale, Frederic Oudea, warned Socialist party French presidential candidate Francios Hollande against any move to break up the French banking system on Thursday as the financial institution announced first quarter earnings that declined from a year earlier.