Given such a debt burden, what are the chances that a country with Greece's history would be able to finance its debt in the market on terms consistent with a decline in the debt burden?
Italy is next in line to seek a bailout from the European Union and the International Monetary Fund as a 'slow-motion banking crisis' unfolds in the country, Felix Zulauf, President of Zulauf Asset Management said.
Britain's economy is unlikely to grow as fast as before the financial crisis because its most productive sectors have been hardest hit, jeopardising government plans to cut the deficit, reports the FT.
Germany and the rest of Europe will loan Athens more money to keep Greece servicing its debt and prevent writedowns by European governments and banks on loans they've already made to Greece.
Rumor time for the euro, good times for commodity currencies. Time for your daily FX Fix.
The plan to deal with the euro zone debt crisis and avoid restructuring before 2013 is failing, Willem H. Buiter, Chief Economist at Citi Investment Research and Analysis said on Tuesday.
Europe should help countries that are in trouble but these countries need to show that they are tackling their deficit problems themselves, like Britain has done, UK Chancellor of the Exchequer George Osborne told CNBC in an interview Tuesday.
Greece on Tuesday denied a Dow Jones report that it expects a new aid package of nearly 60 billion euros ($85.71 billion) to deal with its debt crisis.
As far as Europe’s real economy is concerned, the problems on the periphery are just that, peripheral, according to Credit Suisse’s Robert Barrie.
European stock market futures pointed to a slightly higher open after Wall Street closed Monday slightly up on the back of commodity related news and China posted its highest trade surplus in four months in April.
Last week spelt the end of the inflation story and this is a reason to be bullish. That is the view of UK-based Michael Browne, a fund manager at Martin Currie.
Standard & Poor's Ratings Services today said that it has lowered its long- and short-term sovereign credit ratings on the Hellenic Republic and S&P warned it may be cut further.
Speculation over the weekend that Greece could leave the euro zone was “utterly unrealistic" and would be a “catastrophe” for the country and for the wider European Union, Yiannos Papantoniou, former Greek finance minister and president of the Centre for Progressive Policy Studies told CNBC on Monday.
The boss of the French banking giant has told CNBC that the European banking sector could absorb a restructuring of Greek debt, whatever form it took.
Jean Claude Trichet says the European Central Bank wants to remain flexible. Let us hope his flock of hawks and doves means this, because the next few months are going to be a bumpy ride.
Following a very volatile week for commodities and a weekend of speculation on Greek restructuring, investors are questioning if the risk-off trade is now dominating.
European stocks pointed to a lower open on Monday as initial optimism faded off the back of US non farm payroll figures on Friday and concerns re-emerged about the European sovereign debt crisis.
In recent months the euro has ignored a wall of worry about the health of three of its members and moved higher against the dollar, but this is no longer the case according to Jens Nordvig, global head of G-10 currency strategy at Nomura.
Nouriel Roubini has ruled out anyone leaving the euro zone within the next one or two years but believes that could all change over the next five years, in comments to the Independed.
Talk of Greece wanting to leave the euro continues to cause nervousness in the markets. But one economist told CNBC why such an idea is “plainly ridiculous.”