Amid wrangling over how much money the European Union spends at a time of grinding austerity across the Continent, Martin Ehrenhauser, an Austrian member of the European Parliament, lobbed a sobering question this summer at the union’s Brussels bureaucracy: How many bottles of booze does it have stocked in its wine cellars, the New York Times reports.
Hopes were rising in Brussels that an unlikely deal with the U.K. over the EU’s long-term budget was taking shape, although the chief negotiator was trying to resolve a deluge of last-minute complaints from other countries on the eve of what could be a gruelling summit. The FT reports.
Christopher Ferrarone, Global Equity Strategist, UBS says that ECB's "Outright Monetary Transactions" programme is meaningful and that Europe's recovery will continue unless something drastic happens in Greece or Spain.
Adolfo Laurenti, Deputy Chief Economist & MD at Mesirow Financial, says there are a lot of conflicts to be reconciled at the European Union meeting but it is unlikely to result in a breakdown in budget talks.
CNBC's Ross Wesgate reports on all the market moving events from Europe, as the IMF and finance ministers have yet to reach a deal on Greek debt.
James Nixon, European economist at Societe Generale, explains to CNBC the dispute between euro zone countries and the IMF over strategies to reduce Greek debt to a sustainable level.
Greece’s international lenders once again failed to reach an agreement on how to bring down its debt levels, delaying the release of vital aid to Athens and pushing the euro lower. Yet all is not lost for Greece and the single currency, analysts told CNBC.
Whatever the reasons behind Mitt Romney’s failure to convince the U.S. electorate that he was the man for the job, and there are myriad explanatory factors, it seems his team’s position on economics was one of them.
Market sentiment and economic factors are moving against key Eastern European currencies, this strategist says.
Expect a risk rally over the next few days, but next week could be another story. Here's how to trade the shifting winds.
Euro zone finance ministers are likely to approve the next tranche of loans to Greece on Tuesday although the money is unlikely to be disbursed before December and a deal on debt reduction may need further talks.
As Greece redoubles its efforts to raise billions to cut its debt and stoke its economy, the move toward privatizing assets faces daunting hurdles, the New York Times reports.
As France loses its coveted AAA-rating, economists are questioning whether the tide is turning for a country that has enjoyed record low borrowing costs, and indeed whether the second largest economy in the euro zone is in jeopardy.
CNBC's Ross Westgate reports on all the market moving events from Europe, as stocks drift lower after Moody's stripped France of its AAA-rating.
The journalist responsible for publishing the “Lagarde List” of Greeks who allegedly avoided tax via Swiss bank accounts accused the country’s politicians of lying about the disappearance of the list in an interview with CNBC.
Spain plans to offer residency permits to foreigners who buy houses priced at more than 160,000 euros ($203,845) as part of its efforts to revive a collapsed real estate market and divest itself of hundreds of thousands of unsold homes.
Ratings agency Moody's Investors Service stripped France of its prized triple-A credit rating on Tuesday, triggering worries the move could heighten the risk of a downgrade for other top-rated nations, including the United States and the single currency bloc’s largest economy Germany.
David Poh, Regional Head of Asset Allocation at Societe Generale Private Banking, says the Moody's downgrade of France's credit rating doesn't change much, but it does raises questions on whether the rest of Europe will be impacted.
Rich Ilczyszyn, CEO and founder of iiTrader, talks turkey about a seasonal gold trade that is on a winning streak.