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In an exclusive interview, Greek Prime Minister Lucas Papademos is taking straight aim at those who suggest Greece should abandon the euro: “This is really not an option.”
The United Kingdom is likely already back in recession and may see unemployment approach three million before the end of the year, economic think tank the Ernst & Young Item Club forecast on Monday.
Greek Prime Minister Lucas Papademos, in an exclusive interview with CNBC, said “printing money is not an answer” when it comes to the European Financial Crisis, and declined to wade into the growing controversy over the ECB’s role in Greek debt.
CNBC's Michelle Caruso-Cabrera sits down with Greek Prime Minister Lucas Papademos to discuss the country's ongoing negotiations with the private sector and Greece's place in the euro zone.
As Europe’s debt turmoil enters its third year, no clear solutions are yet in sight — despite recent signs that a new lending program by the European Central Bank might be easing pressures.
Standard & Poor's cut its ratings on nine European countries, including France, Spain and Italy. French and German officials played down the significance of the move.
After months of rumors, S&P downgraded France, Italy and Spain. Germany, the Netherlands and Finland were spared. What the downgrade means for the euro, with Sean Egan, Egan Jones, CNBC's Melissa Lee and the Money in Motion traders.
Standard & Poor's is expected to cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, according to reports.
Standard & Poor's will cut the credit ratings of Italy, Spain and Portugal by two notches and downgrade France and Austria by one notch, a French newspaper said Friday.
In May 2010, the Eurozone crisis began with turmoil in Greece. In spring 2012, new turmoil in Greece will frame the end-game of the Eurozone itself.
Talks between Greece and creditor banks aimed at avoiding a disorderly default broke down on Friday amid disaster warnings.
For stocks on both sides of the Atlantic, the first two weeks of trading of the year have gone better than many analysts were expecting.
Top policymakers did not seriously consider the idea that problems in the housing market would bring a recession, newly released transcripts show. The New York Times reports.
The Greek government held crucial talks with representatives of private bondholders on Thursday to hammer out a deal on a bond swap that would reduce the country's debt load and secure an integral part of its second bailout package.
Thursday’s meeting of the governing body of the European Central Bank (ECB) will happen as calls for the central bank to take further action to solve the euro zone debt crisis by acting as lender of last resort for troubled countries increase.
As difficult as the last two years have been for Europe, 2012 could be even tougher. Each week, countries will need to sell billions of dollars of bonds — a staggering $1 trillion in total — to replace existing debt and cover their current budget deficits, the New York Times reports.
Even in bad economic times, people have to eat, and that's been good for Domino's Pizza, CEO Patrick Doyle told CNBC Wednesday.
Already mired in controversy about whether it should play a greater role in solving the European financial crisis, the European Central Bank is facing criticism over what they’ve already done to help — buying Greek debt.
If you ever wonder why the German public is so reluctant to help out their Greek euro zone cohorts, just remember that some are convinced that aid will just go to finance pedophiles and pyromaniacs.
Gold is investors' favorite asset for 2012, and developed markets are preferred over emerging markets when it comes to putting money in stocks or bonds, according to a poll carried out by Japanese investment bank Nomura.