Not long ago, this weekend's IMF conference looked like it would be an upbeat gathering about a prosperous year ahead. But now the gathering of the world's top financial officials has turned into a fairly somber affair.
It is unlikely that Germany will double its debt in order to help out other European countries, says Sean Egan, Egan-Jones Ratings Company president, who also weighs in on Greece's chances of default.
After a week in which stock markets around the world suffered, analysts and strategists are predicting further gloom in the weeks ahead.
A situation where Greece cannot pay back its public debt can no longer be excluded, European Central Bank Governing Council member Klaas Knot was quoted as saying on Friday.
The leaders of six members of the G20 group of world economic powers issued a joint open letter to the French president Nicolas Sarkozy on Thursday, calling for decisive action to be taken over the eurozone debt crisis.
The European Central Bank was buying Italian and Spanish government bonds in the markets on Thursday, traders told CNBC.
Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes, with public transport workers, taxi drivers, teachers and air traffic controllers walking off the job Thursday.
Ajay Kapur from Deutsche Bank suggests that Asia’s recent selloff is actually an indication that economic growth in the region is slowing down.
Slovenia's minority government has collapsed after a no-confidence vote and this could further complicate the passage of legislation to scale up and enhance the European Financial Stability Facility (EFSF), a key element of the euro zone's crisis response.
Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama's fiscal stimulus plans was to blame for sluggish growth.
Senior BNP Paribas executives are to tour the Middle East in coming days in an attempt to raise fresh capital and shore up confidence in France’s biggest bank. The FT reports.
"You could have two or three of the small countries default or leave the euro," George Soros, Soros Fund Management chairman, tells CNBC's Maria Bartiromo.
Britain’s deputy prime minister, Liberal Democrat leader Nick Clegg told delegates at his annual party conference in Birmingham on Wednesday there was no turning back from the coalition government’s fiscal austerity program despite figures showing government borrowing in August reached a record high for the month.
The European Central Bank says it loaned $500 million to a single bank for seven days, raising further fears that a major financial institution could be in trouble.
The chances of Italy defaulting on its debt repayments are actually smaller than the market is pricing in, according to analysts at Credit Suisse.
The European banking system is the biggest threat to global equities, according to a survey of investors by Barclays Capital.
Germany sold 4.188 billion euros of 10-year government bonds on Wednesday in an auction that attracted greater demand than at a previous sale and sent borrowing costs to a record low in the category.
Angela Merkel's coalition partner, whose party has formed the main political opposition to the extension of the European Financial Stability Facility within Germany, told CNBC Wednesday that he believes the new EFSF measures will pass next week.
American lenders are facing the worst decade in terms of sales growth since the great depression, CLSA’s Mike Mayo told CNBC on Wednesday.
Members of the euro zone are suffering from a severe bout of buyers’ remorse. Many would like to disassemble the kit they bought almost 20 years ago and put together in the late 1990s and 2000s. The FT reports.