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Europe Top News and Analysis Greece

  • NYSE trader

    Stocks ended a highly volatile August deeply in the red, fueled by continued worries about the European debt crisis and weakening global economy. September is expected to be more of the same.

  • Between the stunningly bad jobs report and the mess in Europe, investors have more than their share of reasons to avoid risk. Here's how.

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    No bank likes to take a loss, especially those in Europe that already suffer from a toxic mix of thin capital, troubled financing and weak loan books. But in the case of the proposed second bailout for Greece — the one that is supposed to make private investors feel the financial pain along with taxpayers — the biggest banks in Europe are on the road now promoting the plan. The NYT reports.

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    The Swiss franc is up, the euro is off, and everyone's on edge for the jobs report - time for your Freaky Friday FX Fix.

  • "If you look at the situation of the economic crisis it was always more political than financial. We need to simplify the decision-making process because at the moment it is far too complicated," Jose Maria Aznar, former Prime Minister of Spain, told CNBC.

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    In Greece, "further economic weakness expected this year, partly driven by the global slowdown, can only make things worse also on the fiscal front," according to economists at Credit Suisse in London.

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    Dismal news is sending the euro tumbling - but that doesn't mean you should jump in on weakness.

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    The head of an independent Greek budgetary panel stepped down Thursday, after Greece’s financial minister publicly lambasted the panel, according to a Reuters report.

  • European Central Bank

    International Monetary Fund staff have provoked a fierce dispute with eurozone authorities by circulating estimates showing serious damage to European banks’ balance sheets from their holdings of troubled eurozone sovereign debt. the FT reports.

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    Nothing tells the story of August like the data. The DJIA is off by 4.7 percent month to date but the losses elsewhere show just what a difficult month it has been.

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    Inflation in the 17 euro countries remained steady at 2.5 percent in August, adding to expectations the European Central Bank will hold off from raising interest rates — and may even consider cutting them — as economic growth slows.

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    The size of the new fund earmarked for bailing out struggling euro zone economies is "enough" at 440 billion euros ($635 billion), a key German policymaker told CNBC Wednesday.PIIGS is a not too favorable term used by bond analysts, academics, and the press, to refer to certain countries of Europe. So which countries make up the PIIGS? Why are they important to track? CNBC explains.

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    The DAX is off 18 percent since the start of the month, the CAC and FTSE are off 11 and 8.7 percent respectively. It has been an awful month for those long equities and a great month for those who sat in gold as it rose by 13 percent over the last 30 days.

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    It would be comforting to believe that very high levels of debt don’t impose constraints on growth for the U.S. Unfortunately, there’s not much reason to believe that its different for us.

  • Inflation Could Become a Problem in 2013

    "Inflation fears at the start of the year were always something I was skeptical about and which I always thought were overdone," Bob Parker, senior advisor at Credit Suisse, told CNBC. However, he added he was concerned that inflation could become an issue in 2013.

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    The Celtic Tiger boom years, and the subsequent bust, have made Ireland seem like a basket case, with the recent history of its housing market consigned to economics textbooks forever as an example of a hugely overinflated bubble.

  • Ronald McDonald

    A few years ago, I pointed out in a column that the cost of insuring the US government against a default in the credit derivatives market, had risen above that of McDonalds, the US fast food company, for the first time, the FT's Gillian Tett writes.  

  • The Parthenon in Greece

    Some European financial institutions should have taken bigger losses on their Greek government bond holdings in recent results announcements, according to the body that sets their accounting rules in a letter seen by the FT.

  • Greece Cannot be Saved: Gartman

    Why Greece should be kicked out of the Euro Zone, with Dennis Gartman, the Gartman Letter.

  • The S&P is approaching an important level and, if it holds, stocks could be propelled higher, said Art Cashin, director of floor operations at UBS Financial Services.