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Economic Regions The European Union

  • Banks complain that tighter regulation means that too much capital is tied up in regulatory funds and not enough gets to consumers.  But they should get used to it as this is the “new normal” if we want economic growth, Professor Andrew Sentance, senior economic adviser at PricewaterhouseCoopers (PwC) told CNBC.

  • The Greek national flag is seen flying above the parliament building on Syntagma Square in Athens, Greece, on Thursday, Feb. 16, 2012.

    Another day, another prediction of a Greek exit from the euro zone. But unlike the vast majority who give a medium term timeline for a "Grexit", one strategist told CNBC it could come as early as next month.

  • Oil refinery and petrochemical complex, Mahshahr, Iran,

    Iran has struggled to find a reliable consumer base given international sanctions pressure, and its recent production levels suggest the Islamic republic is retreating somewhat from the international energy sector.

  • What's Next?

    A recent gathering in Maine at the invitation of David Kotok of Cumberland Advisors, over 30 financial experts shared their views about the near term economy, writes William Dunkelberg, Economics Professor at Temple University.

  • European Union Flag

    The euro is “irreversible,” but leaders must implement changes to prevent the euro zone debt crisis from cascading across the continent, Olli Rehn told CNBC Tuesday.

  • Wilbur Ross, chairman and chief executive officer of WL Ross & Co. LLC.

    Though other parts of the continent are improving, Greece actually is worse up close than it appears from the outside, investor Wilbur Ross told CBNC.

  • Germany’s reputation as the healthy man of Europe has been reinforced by better-than-expected growth in gross domestic product for the second quarter, as growth contracted in the broader euro zone.

  • A one Euro coin stands on a map of Brussels.

    The euro currency could face significant negative pressure as fears that the stagnating euro zone crisis continues unabated and global economic growth remains muted according to analysts.

  • Reichsstrasse houses in historic centre.

    Despite yielding extremely low or even negative returns, German Bunds have not lost their safe haven appeal, underscoring the huge appetite among investors for low risk assets as the euro zone debt crisis drags on. But a new asset class is on the rise – and many believe it has a lot more to offer.

  • European Union (EU) flags fly outside the the European Commission headquarters in Brussels.

    The euro zone economy shrank in the April to June period, the European Commission's statistics agency Eurostat said on Tuesday, but  French and German second-quarter economic growth came in better than expected on Tuesday.

  • Brandenburg Gate, Berlin

    A growing number of Germans may want to see the euro zone dissolve, but Dagmar Bollin-Flade, owner of a small machinery company here, is not among them. Like many German businesspeople, she is keenly aware of the economic benefits of a common currency — and willing to pay a price to keep the euro intact, the New York Times reports.

  • E.U.

    For most of the euro zone debt crisis, the distinction between the core and peripheral countries of the euro zone have been quite clear — the periphery seemed to cause all the trouble, and the core picked up the bill.

  • Maslak is a neighborhood and one of the main business districts of Istanbul, Turkey.

    For years, the prospect of Turkey joining the EU wasn't taken seriously. But Turkey has embarked on a series of economic and political reforms, making it more palatable to EU members.

  • European Bank Note

    The euro zone should have started off with fewer members, and struggling members should be pushed out, a former European Central Bank (ECB) member who helped shape the euro at its inception told CNBC.

  • oil_refinery_Pennsylvania_200.jpg

    Supply-side tensions vying with a softer global macroeconomic outlook will cloud the direction in benchmark oil markets next week though key U.S. data releases may help set the tone, according to CNBC's weekly survey of oil market sentiment.

  • A doll is used to demonstrate a "baby hatch" in Hamburg, Germany, in this 2000 file photo.

    As the euro zone debt crisis deepens and austerity measures take their toll across Europe, the number of young children and babies abandoned across the region has increased, according to local charities.

  • French President Francois Hollande speaks during a press conference at Maison Jean Vilar (Jean Vilar's House) while visiting the 66th Avignon Theatre Festival on July 15, 2012 in Avignon, southern France.

    French president Francois Hollande wants to go back to the future on taxes. When running for the job he eventually won, Hollande famously proposed a marginal tax rate of 75 percent on income above €1 million per year. The usual outcry ensued. Progressives argued it was only fair while those on the right — and those who would be impacted — made noise about fleeing France. Despite cries the rich are bluffing on their threat to say ‘au revoir, Paris,’ it appears that may actually happen.

  • London Financial District

    The U.K. is not renowned for its smooth relationship with its European partners and, like the end of a tempestuous love affair where both partners have tried their best to accommodate the others’ demands, the relationship could finally hit the rocks with Britain leaving the EU for good, according to a report by Nomura.

  • Bill Gross, co-chief investment officer of Pacific Investment Management Co. (PIMCO)

    Bill Gross’ latest message to investors - don’t put your money into Europe because they are not going to get out of their debt crisis any time soon.

  • Police detain a group of immigrants in central Athens on August 5,2012. Greek police authorities launched a large scale operation in central Athens in an effort to control illegal immigration in the Greek capital, more than four thousand immigrants have been detained so far.

    Greek police say they have detained some 6,000 people in Athens on suspicion that they have entered the country illegally and will deport more than 1,600 of them to their home countries.