Economic Regions The European Union

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  • The next 24 hours will be critical for Greece and its economy. After news over the weekend that the euro zone put together a rescue package, Athens will now test the markets reaction.

  • Hungary

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  • Carlsberg Beer

    Scores of Carlsberg workers walked off their jobs in protest Thursday after the Danish brewer tightened laid-back rules on workplace drinking and removed beer coolers from work sites, a company spokesman said.

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    Attempts to rescue Greece are simply making matters worse and the quicker the crisis comes, the better for the world.

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    Growing soverign debt speculation has renewed anxiousness about Greece's financial footing as borrowing costs sharply increase.

  • Greece

    Today, the Euro came under pressure with after a series of stories have emerged over the last 24 hours on the details for a Greek bailout.

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    A new UK government should make dealing with the budget deficit and cutting spending its main priority immediately after the election, a CNBC survey of 300 business leaders showed Tuesday.

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    Credit default swaps (CDS) will be looked at closely to ensure transparency but they aren't necessarily going to be banned, EU Financial markets commissioner Michel Barnier told CNBC.

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    The talk around the deal agreed by EU leaders to support Greece in case it needs more liquidity hurt the country more than it helped, Petros Christodoulou, director general of Greece's Public Debt Management Agency, told CNBC.

  • Traders work in the ten-year U.S. Treasury Note options pit at the Chicago Board of Trade in Chicago, Illinois, U.S.

    Of all the regions in the world, Bhaskar Laxminarayan, chief investment officer at Pictet Asia, told CNBC he has the least confidence in Europe right now and warned that there could be more negative surprises coming out of the region.

  • Euro bills and coins

    If EU nations want to sustain a currency union with Germany, they have to implement economic and budgetary changes that bring their performance into alignment with Germany, according to Marc Ostwald, strategist at Monument Securities.

  • Flags of member states of the European Union.

    European Central Bank Governing Council member Axel Weber said current interest rate  levels are appropriate, signaling that the central bank will stick to low rates for some time, the Nikkei newspaper reported on Sunday.

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    The Times and The Sunday Times newspapers will begin charging for Internet access to content in June, offering subscriptions at 1 pound ($1.48) a day or 2 pounds a week, News International announced Friday.

  • The Parthenon in Greece

    If Greece believes the easiest way out of its financial crisis would be with the help of the International Monetary Fund instead of its European neighbors, it could be in for an unpleasant surprise.

  • German Chancellor Angela Merkel

    Opinion polls suggest Angel Merkel’s coalition will lose control of the German Senate in regional elections on May 9. No wonder she wants to fire a populist shot at voters. But in refusing to underwrite a few billion euros of Greek debt the Chancellor is playing with fire.

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    The threat is no longer low-cost manufacturing; it’s high-tech and ideas. And the proof? As of this year, China has overtaken Germany as the world’s biggest exporter. And it’s not limited to less expensive products.

  • Flags of member states of the European Union.

    European Commission President Jose Manuel Barroso says the EU needs to agree as soon as possible on a mechanism to support Greece financially if needed.

  • Alan Greenspan

    In his most detailed examination of the causes of the financial crisis, Alan Greenspan, the former Federal Reserve chairman, acknowledges that the Fed failed to grasp the magnitude of the housing bubble but argued that its policy of low interest rates from 2002 to 2005 did not cause the bubble.

  • Public sector debt in the United Kingdom climbed above 60 percent of GDP in February as government agencies borrowed another 12.4 billion pounds ($19 billion), the Office for National Statistics said Thursday.

  • Stocks picked up again in the final hour of trading after the Federal Reserve said it would continue to keep interest rates low for "an extended period."