At least two sons of Col. Muammar el-Gaddafi are proposing a resolution to the Libyan conflict that would entail pushing their father aside to make way for a transition to a constitutional democracy under the direction of his son Seif al-Islam el-Qaddafi, a diplomat and a Libyan official briefed on the plan said Sunday, the New York Times reported.
The ECB is this week expected to lift rates by 25 basis points in a bid to reign in inflation despite ongoing fears over the financial health of Portugal, Ireland and Greece.
It is all but certain that the ECB will raise rates this week. It has been itching to do so for some time. Now that the moment has arrived, what will the move actually mean for the euro zone and the global economy?
Euro zone inflation defied expectations of a small decline and surged higher in March, an early estimate showed on Thursday, a week before the European Central Bank is expected to raise interest rates to stem price growth.
HSBC is cutting growth targets and raising inflation forecasts following dramatic rises in commodity prices that threaten the global recovery.
The world's biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow.
The Bank of Portugal warned on Tuesday of the need for substantial new austerity measures to ensure the debt-laden country meets budget goals, steps that will deepen an expected economic contraction this year and next.
The recent remarks of the St Louis Fed President James Bullard have made it clear he believes it is time to think seriously about an exit strategy from the second round of quantitative easing and this could have big implications for stocks, according to one economist.
Like stocks, the euro has so far this year shrugged off the so-called wall of worry. Concerns that the likes of Greece, Ireland or Portugal could default have not led to euro losses.
Portugal's central bank on Tuesday releases its projections for the country's economic outlook and investors are likely to watch closely for changes in the growth forecast, as the country has been plunged in a political crisis because of its austerity measures.
Angela Merkel, German chancellor, has blamed Japan’s nuclear crisis, triggered by this month’s earthquake, for the “very painful defeat” suffered by her ruling party in the state of Baden-Württemberg, the Financial Times reports.
While some areas of the world have a relaxed attitude to fiscal and monetary policy, Europe, and much of the developed world, puts too much emphasis on tightening, according to Valentijn van Nieuwenhuijen, head of strategy at ING Investment Management.
The twin shocks of the earthquake and tsunami in Japan and the rise in oil prices will not greatly alter growth prospects for 2011 and 2012, according to Willem Buiter, chief economist at Citigroup.
“Not only is there no solution in hand, but there is no inkling that any idea on the table at this summit could plausibly avert a default on substantial portions of euro land’s sovereign debt,” one economist wrote.
The world is currently in the middle of historic change that will have as big an impact as the industrial revolution on feudal society, an author told CNBC.com.
As Europe struggles to come to grips with its debt crisis, which has deepened with the collapse of Portugal’s government after it pushed for yet another round of budget cuts, three numbers stand out: 12.4, 9.8 and 7.8, reports the New York Times.
Despite mankind's ability to adapt and invent new materials and make use of new resources, humans seem "hopelessly incapable of learning past wisdom and apparently doomed to repeat past follies," according to Dylan Grice, a research analyst at Societe Generale.
Attempts by Germany to renegotiate the structure of the European Stability Mechanism (ESM) just as markets believed things had been settled at the meeting of euro zone leaders last week are an "ominous sign," Simon Derrick, the head of research at Bank of New York Mellon, wrote in a market note.
The euro does not have a stable basis even after the "Pact of the euro" agreed by leaders of the member states, Thomas Mayer, chief economist at Germany's biggest lender Deutsche Bank, told CNBC Thursday.
As investors increasingly shun risk, concerned over developments in the Middle East and Japan, which they fear could derail the recovery, analysts at Barclays Capital are also turning more bearish, advising investors to take positions that are more risk neutral.