There was talk of an event risk going into Thursday’s market open, and the speculation proved correct.
With share prices down over the summer as fears of contagion spread, might now be the time to take off your hard hat, climb out from under your desk, and look again at European banks?
German Chancellor Angela Merkel and French President Nicolas Sarkozy have both said that Greece will not leave the euro, but the "unthinkable" is now being seriously considered at all levels.
Despite a long-term picture in Europe that appears to be as unsettled as ever, investors will take any bit of good news and run with it.
The arm-in-arm effort by central bankers to increase U.S. dollar liquidity in Europe is essentially a band-aid solution, and the euro is already backing off its gains.
Five of the world's largest central banks have announced a coordinated injection of dollars into banking systems, in response to growing concerns over liquidity problems in the euro zone. However, analysts say, they cannot solve the underlying solvency crisis.
France, Germany, and other euro zone countries want Greece to remain in the monetary union, "but there will be a price," Christine Lagarde, managing director of the International Monetary Fund (IMF), told CNBC Thursday.
Problems in the euro zone could offer an opportunity for UK listed DIY giant Kingfisher, its CEO, Ian Cheshire, told CNBC Thursday
European leaders talk and talk, and hot money cools toward Asia — it's time for your FX Fix.
Three years after the collapse of Wall Street bank Lehman Brothers, the market has yet to fully recover, according to a US banks analyst.
News that Germany and France are ready to stand by Greece and avoid it leaving the euro helped stocks to rally following a conference call between Angela Merkel, Nicolas Sarkozy and Greek Prime Minister George Papandreou on Wednesday.
Saudi Arabia's Central Bank Governor, Muhammad Al Jasser, said yesterday that "everyone" was concerned over the fragile state of the US economy and Europe's ongoing sovereign debt crisis, according to Reuters reports.
There are two major messages in statements released Wednesday night in Germany and France about their leaders' conference call with the Greek Prime Minister. The first is that the feet of Greece will be held to the fire on austerity—that Athens MUST deliver on spending cuts, tax rises and speedy privatizations.
As investors continue to reach for yield, are we heading for a credit bubble, with CNBC's David Faber; Peter L. Briger, Jr., Fortress Investment Group LLC principal and co-chairman; Marc Lasry, Avenue Capital, co-founder and chief executive; Bruce Richards, Marathon Asset Management president and CEO; Boaz Weinstein, Saba Capital Management LP founder.
CNBC's Simon Hobbs shares details on the rally that started when the leaders of France and Germany signaled their support for Greece.
The euro has taken quite a fall as worries about the debt crisis there have grown, and this strategist says there is more to come.
The BRICS turn the tables and the Belarussian ruble takes a dive - it's time for your FX Fix.
Markets around the world have been waiting for decisions from euro zone leaders on greater fiscal integration and euro bonds since July.
As Europe's debt crisis worsens further, one analyst says China may be their only savior.
The challenges facing the euro zone are immense and about to reach an "end game" according to one analyst who puts a 50 percent probability on everything turning out OK.