Judge Vassiliki Thanou was sworn in Friday as Greece's first female prime minister, heading a caretaker government until elections are held.» Read More
Earlier this year, Deutsche Bank quietly decided to reduce its exposure to Italian government bonds. But it did not do that by simply selling debt; instead it achieved this partly by buying protection against sovereign default with credit derivatives contracts. The FT reports.
Stock traders Friday will be watching headlines from Europe, and increasingly they will be turning to Washington for any signs of movement by the Congressional "super committee." It is also a day for options expirations, another source of volatility.
As investors’ fears mount that many euro area nations are about to tip into recession, even countries like creditworthy France are finding it much more expensive to borrow money in the open market, the New York Times reports.
Instead of being hurt by the European debt crisis, US banks could actually end up benefitting from the turmoil across the Atlantic, analyst Dick Bove said.
Europe's persistent debt crisis is likely to "tumble along" for an extended period of time but not have much effect on the U.S., St. Louis Federal Reserve President James Bullard told CNBC.
Stock markets have taken such a beating over the past few months that they are now more resilient to any upheavals, apart from a complete breakdown of the euro zone, an analyst told CNBC Thursday.
As this week progresses, Europe is increasingly serving as a counter weight to a growing stream of better U.S. economic news.
Stocks took a late slide after Fitch Ratings put out a report saying U.S. banks could take a big hit if Europe's debt crisis spreads.
“Everyone is too focused on Europe and the possibility (albeit very small in my view) of a Lehman-type of event,” says Joseph Lavorgna, a managing director at Deutsche Bank.
October Consumer Price Index fell 0.1 percent, a little lighter than expected, core CPI up 0.1 percent, in-line with expectations. Headline inflation now up 3.5 percent year over year (2.1 percent ex-food and energy), but the big worry: crude over $100. Headline CPI will not be so tame if that continues.
If the European Central Bank commits to a program to buy bonds from 'danger' states then the euro zone should stay intact, Patrick Armstrong, managing partner at Armstrong Investment Management, told CNBC Wednesday.
The euro crisis rumbles on. Prime ministers are changing as a direct result of the currency’s troubles, although really what this illustrates is that the countries affected were already in a lot of economic trouble anyway; it’s just that their membership of the euro currency union speeded up the change in government.
Confronted with turbulence in the provinces, the eurozone has sent in new governors. In place of the wayward George Papandreou, Greece now has Lucas Papademos, former vice-president of the European Central Bank. Instead of the unruly Silvio Berlusconi, Italy has Mario Monti, former head of competition policy at the European Commission, according to the FT.
Europe is "facing a meltdown in liquidity" affecting every member of the European Union except Germany, BlackRock CEO Lawrence Fink warned CNBC Tuesday.
Another lackluster equities trading session on light volume. The issues: 1) Traders do not believe that movement on the political front in Italy and Greece will not translate into fiscal and structural changes in those countries any time soon.
Europe would find it hard to convince emerging markets such as Brazil or China to invest in a European bailout fund, a former European Commissioner warned on Tuesday.
"I think it's a pretty hard sell for Europeans to go to China or Brazil or Singapore or wherever and say, 'Hey guys, we've got this fantastic idea with you putting some of your money into a bailout fund that we're not prepared to put our money into," former EU Commissioner and Chairman of the BBC Trust Lord Patten told CNBC.
Italy will face a long period of no growth, leading to the erosion of its primary budget surplus, as an interim government starts the tough task of undoing Silvio Berlusconi’s legacy, George Magnus, senior economic adviser at UBS said on Tuesday.
The only real solution to the crisis currently dragging down the euro zone is the scrapping of the single currency, according to John Wadle, head of regional banks research at Mirae Asset.
There is no solution to the current debt crisis plaguing the euro zone, and it’s an illusion to think that one lies on the horizon, an economist told CNBC Monday.