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Europe News Germany

  • Chancellor of the Exchequer George Osborne holds Disraeli's original budget box as he leaves 11 Downing Street for Parliament.

    When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.

  • The Parthenon in Greece

    It would be better if policymakers let a disorderly default of Greece take place and recapitalized banks, an analyst told CNBC Wednesday.

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    As strikes threatened to bring struggling Greece to a standstill Wednesday, pessimism about the future of the euro zone — in its current form at least — continued to plague the Continent.

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    The euro zone was launched on a wing and a prayer. The wing has fallen off and the deities are not listening to prayers. Everyone focuses on averting a crash. But it is as vital to ask how to fly securely, the FT reports.

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    Deutsche Bank scrapped its profit target for this year, announced 500 job cuts and said that it would take further impairment charges on its holdings of Greek sovereign debt, sending its shares down on Tuesday.

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    The Franco-Belgian lender may be poised to set assets worth more than EUR180 billion into a so-called bad bank, a vehicle backed by guarantees from the French and Belgian governments, according to a report in The Wall Street Journal.

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    The 17 families meeting the last few days — and I can't remember if it was the EU, the ECB, the IMF, the EIB, CIA, FBI or what- decided to make no decision except to cancel the meeting scheduled for October 13, and meet in November.

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    Goldman Sachs analysts cut their outlook for the price of Brent oil and for copper going into 2012, saying that they see "a flatter upward trajectory for commodity prices, with increasing risks to both the up and the downside."

  • A trader sits in front of a board displaying Germany's share index DAX at the stock exchange in Frankfurt/Munich, western Germany.

    Debt problems within the euro zone remain at the "epicenter" of investor concerns, but worries over a slowdown in China and the sluggish US economy also both pose threats to already volatile markets in the fourth quarter, Lucy Macdonald, CIO and head of global equities at asset manager RCM told CNBC.

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    The chances of the US being able to help bailout Europe are minimal because of weaknesses in the American economy, influential Citi banker William Rhodes told CNBC Tuesday.

  • The Parthenon in Greece

    If the European Financial Stability Facility , which functions like a bank to provide loans to euro zone members who have economic difficulties, "can get leverage behind it ... then this would be a big enough war chest to stop" the euro zone crisis, said Scott Minerd, CIO of the fixed income firm Guggenheim Partners.

  • Market's Hopes Rest on Germany: Kyle Bass

    Legendary hedge fund manager Kyle Bass is featured prominently in Michael Lewis' new book, "Boomerang." Lewis explains what markets want from Germany in its handling of the European debt crisis, with Mark Dow, Pharo Management.

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    Credit default swaps (CDSs) have emerged blinking from computers in glass-fronted offices into the limelight in recent years.

  • Chancellor of the Exchequer George Osborne holds Disraeli's original budget box as he leaves 11 Downing Street for Parliament.

    The UK’s finance minister, Chancellor of the Exchequer George Osborne vowed to continue the coalition government’s austerity program on Monday telling delegates at his Conservative party’s annual conference in Manchester, UK, that Britain would “ride out the storm.”

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    Europe is still scary, and safe havens are back in style - it's time for your FX Fix.

  • Trader at London Stock Exchange, England.

    Undervalued stocks will represent opportunities for long-term investors in the final quarter of the year and are not necessarily an indication of a return to the stock market slides of 2008/2009, according to strategists and investors.

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    Fitch ratings agency on Monday revised down its growth forecasts for all major advanced economies, and said it expected growth in emerging economies to slow as well due to financial market volatility which has dented confidence and caused a drop in private consumption and business investment.

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    As the enlargement of the European Financial Stability Facility (EFSF) draws nearer, opinion is still divided on whether changes to the bailout fund will be enough to stench the flood of problems facing the eurozone.

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    Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

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    Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF.