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Europe Top News and Analysis Greece

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    Commodity prices are once again reaching record highs, supported by a weak dollar and improving global demand, whether it be speculative or not.

  • Wheat field

    The prices of staple crops will more than double in 20 years, unless fundamental changes are made to the international food system, warns the international charity Oxfam.

  • A man walks outside the Bank of Greece headquarters during a demonstation against government's austerity measures in central Athens.

    Following months of talks, Germany now appears ready to drop demands it has made in order to allow Greece to restructure its debt and prevent the government in Athens from running out of cash over the summer.

  • Construction worker in New York City.

    British homebuilders and mortgage lenders are considering making it easier for first-time buyers to get the 95 percent mortgages which many believe contributed to the credit crisis, in a move that risks sparking a wave of criticism.

  • Greece

    Cyprus has become the latest victim of the financial crisis in neighboring Greece after its credit rating was downgraded by ratings agency Fitch Tuesday.

  • Piazza Venezia, Rome, Italy

    Some market players have said Italy will be the next to ask for a bailout but  Federico Ghizzoni, chief executive of Italian bank Unicredit, told CNBC that the country is in a totally different situation than Greece.

  • Governor of the Bank of England Mervyn King

    The Bank of England (BoE) was warned by the British Chambers of Commerce (BCC) on Monday that raising interest rates before November risked damaging the recovery of the UK economy.

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    Reports that Greece has not met any of the fiscal targets set by the International Monetary Fund (IMF) and the European Union (EU) as part of its 110 billion euros ($157 billion) bailout knocked down the euro Monday, as other countries in the euro zone are threatened with being dragged into the Greek morass.

  • The Parthenon in Greece

    Greek political leaders failed to reach consensus at an emergency meeting on Friday on how to exit the country's debt crisis, party sources said.

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    The Swiss franc gets a lift from the IMF, and the yen gets bruised by Fiche — time for your Friday FX Fix.

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    Those fearing the effects of Greece’s parlous economic state on the euro shouldn’t worry as long as the currency has support from China, according to a currency analyst.

  • Demonstrators block a police car on the parking lot of the Madrid transport bus company during the general strike held in whole Spain in Madrid as unions launched a 24-hour general strike all around Spain to protest tough government labor reforms and austerity measures.

    The first thing Silvia Huelves was told when she started studying architecture was that she should take up Chinese or Japanese -- she was never going to build anything in Spain any time soon.

  • Bernanke Testifies to Congress on U.S. Monetary Policy

    Fears over the continuing European sovereign debt crisis and weaker than expected economic data from the US helped to push the price of US Treasurys up and take yields to a six month low on Thursday as investors looked for safety.

  • Asian investor appetite is boosting the euro and sending kiwis skyward. Time for your FX Fix.

  • British Prime Minister David Cameron (L) and U.S. President Barack Obama hold a joint news conference in the East Room of the White House July 20, 2010 in Washington, DC.

    The Organisation for Economic Cooperation and Development (OECD) warned the British government on Thursday that it must ease the pace of deficit reduction or risk damaging the recovery of the UK economy.

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    Greece may be forced out of the euro if tough austerity measures are not successful, a high-profile Greek politician said in a statement on her website.

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    Think a Greek debt restructuring can be avoided? This pro says no - and he's not even sure the euro zone should hold together.

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    The UK has failed to make enough structural changes to its economic model to avoid another financial crisis, Vince Cable, the UK’s Secretary of State for Business, Innovation and Skills told the New Statesman magazine.

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    The policy of no default, no change to euro membership and providing a bailout fund has not worked, writes Moorad Choudhry, Head of Business Treasury, Global Banking & Markets, Royal Bank of Scotland.