Anthimos Thomopoulos, CEO of Piraeus Bank, says recent political turmoil in Greece set the country’s banking crisis recovery back by six months.» Read More
What may have seemed like timid or even bumbling leadership is looking more like a consistent strategy of brinkmanship aimed at remaking the euro zone in Germany’s likeness. The New York Times reports.
The US economy has not, by any means, emerged fully from the recession of 2008. The real-estate sector is still suffering grievously from the effects of the crash, and unemployment remains uncomfortably high.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
S&P places EFSF long-term AAA ratings on creditwatch negative, with CNBC's Michelle Caruso-Cabrera.
An executive in charge of controlling risk within MF Global raised concerns a few times last year about the increasing number of bets on European bonds by Jon S. Corzine, the company's former CEO, the Wall Street Journal wrote on Tuesday.
Even with the European Union economy most certainly headed for recession, hopes are growing that the U.S. will be able to escape the worst of the sovereign debt storm and keep moving on a slow-growth trajectory.
Now that the euro has bankrupted Greece and pushed Italy and other Mediterranean states to the brink, Angela Merkel proposes tough, EU-administered disciplines on national deficits.
Europe's sovereign-debt crisis, which has dragged on for more than two years, is entering a pivotal week, as leaders across the continent converge to prevent a collapse of the euro and a financial panic from spreading.
The International Monetary Fund may be asked to assist further as leaders of the 17 European Union nations that use the euro prepare for a summit next week, reports the New York Times.
Will next week's EU summit ruin the risk on rally? The currency trade behind next week's EU meeting, with CNBC's Simon Hobbs and the Money in Motion traders. And will Mario Draghi increase the roll of the ECB, with Deutsche Bank's Joe LaVorgna?
The German obsession with inflation has been difficult to overcome because Germans perceive themselves as more vulnerable to inflation today than their neighbors are, writes Nicholas Kulish in the New York Times.
The 'Mad Money' host's predictions about about President Obama, China and Greece turned out to be true, but Facebook and the Phillies surprised him. .
The euro plunges against the U.S. currency, gold prices slump, and the Euro debt crisis bailout costs $2 trillion.
Euro Zone debt crisis will get a lot worse, weak banks will fail, the EU will act at the last minute, US debt will dominate.
I celebrate my birthday today. As I will blow out the ever-expanding number of candles on birthday cake tonight, I will have a list of wishes I want to come true.
Federal Reserve assistance to shore up Europe's sagging banks may be good geo-politics but it is bad economics. Only abandoning the euro, not printing money and Teutonic austerity, will fix Europe's banks and economies.
The U.S. is "Italy lagged about three years" unless the deficit is closed by 2013, former National Economic Council director Lawrence Lindsey told CNBC Thursday.
As European Union leaders prepare for yet another crisis summit meeting next week to discuss fundamental changes in economic governing, there are growing concerns that the latest potential approach will not be enough to stabilize the markets and preserve the euro. The NYT reports.
Bulgaria still wants to join the euro zone despite recent predictions that the single currency will collapse, but does not agree with a single tax rate in the currency area, Traicho Traikov, minister of economy for Bulgaria, told CNBC on Thursday.
A move announced by central bankers on Wednesday to contain the European debt crisis resulted in euphoria in global stock markets, but it also prompted skeptics to wonder: will this time be different? The New York Times reports.