Following a dramatic end to the trading week that saw Italy pledge to speed up its austerity measures, the European Central Bank decided this weekend it had to act.
The crisis threatening to envelop Spain and Italy is moving faster than euro zone policy makers can keep up with, William Rhodes, senior advisor at Citigroup, told CNBC Monday.
“So what Europe needs to do is to make sure that there's an unequivocal financial backstop, so there is no doubt in anyone's mind that those countries across Europe have the ability and the will to meet their obligations," the US Treasury secretary told CNBC.
European stocks are expected to follow Asian markets and US futures lower at the open following Friday’s downgrade of US government debt by S&P but losses are likely limited by hopes the ECB will this morning move to buy Italian and Spanish debt.
Got whiplash? The euro is spiking on news of the European Central Bank's Italy support - for now.
After the Dow Jones fell by 500 points on Thursday, European indices also faced a sell-off at Friday's open.
The political theatre we have seen in the United States debt ceiling battle has now transferred across the pond in Europe. How Europe handles this though will be very different because of the diversity of the players. I caught up with Jim Rickards, Senior Managing Director of Tagent Capital Partners. Rickards is speaking at Gata Gold conference in London.
European Union leaders are under pressure to take action to stem the spreading debt crisis. CNBC's Michelle Caruso-Cabrera with the details.
Investors should not sell into a selling climax, according to Jim Rogers, the CEO and Chairman of Rogers Holdings.
Is it time to buy gold or flee to cash? With all of the hyperbole in the market on Friday following the 500 point fall in the Dow Jones Industrial average on Thursday, and heavy selling in Asia and Europe Friday, the answer might be bottled water, tinned food and shovels.
The big ratings agencies have been blamed for much during the credit crisis, but they hadn't been raided by any of the countries they've threatened with downgrades, until Wednesday.
Following Thursday’s dramatic 500-point fall in the Dow and losses overnight across Asia, Europe’s stock markets opened sharply lower Friday but recovered some of their losses mid-morning.
Thursday's market sell-off, which saw a dramatic 500 point fall in the Dow, is just a case of market perception catching up with reality, the chief executive of one of Europe's biggest insurers told CNBC Friday.
We are approaching a “trouble Triangle” of problems that require the European Central Bank (ECB) to act swiftly to resolve them or risk a deep economic contraction, according to Ralph Silva, a Director at research group SRN.
This week UK gilts featured prominently in the media when the 10-year yield dropped to its lowest levels in a long time. Is this is a vote of confidence in the UK economy? In a word, yes.
The euro will collapse as a currency unless lawmakers, and especially Germany, can agree a common European tax regime and restructure some sovereign debt, a leading market analyst told CNBC.com after the European Central Bank intervened in the markets.
The European Central Bank is not worried about the health of the euro zone as a whole and it will stick to its role of fighting inflation, ECB president Jean-Claude Trichet told CNBC in an interview Thursday.
July's rate hike could well have been Jean-Claude Trichet's last as president of the European Central Bank, but markets will be watching for signals that the bank is preparing to take some role in future interventions in European markets, economists and analysts told CNBC.com.
European stocks are expected to recover some of the losses made earlier this week at the open as investors focus on the ECB’s reaction to the recent sharp rise in Italian and Spanish bond yields.
For Angela Merkel there are few things which are as set as her summer holidays. She always leaves Berlin for two weeks with her invisible husband for a hiking holiday in the Tyrol Alps.