Eurogroup chief Jeroen Dijsselbloem has told Greece that euro zone finance ministers will meet on May 9 to discuss its bailout, an official said. » Read More
Another solid close for European bourses today, with many markets closing at or near session highs.
The risk of a double-dip recession is growing, especially in the euro zone, where restructuring Greece's debt is inevitable, famous economist Nouriel Roubini told CNBC Tuesday.
Investors are "clearly overreacting" to the scale of the euro zone crisis, Joaquin Almunia, EU Commissioner for Competition Policy and vice president of the European Commission.
Interest rates in the United States, the euro zone and Britain are going to be left at a record low for a while, despite various noises made by central bankers, David Bloom, head of foreign exchange research at HSBC, told CNBC Monday.
Greece will eventually default on its debt because the country is highly indebted and the euro zone's approach towards saving it is the wrong one, Carl Weinberg, chief economist at High Frequency Economics, told CNBC Friday.
Portugal raised about 1.5 billion euros yesterday and Spain 3.9 billion euros today in auctions that were surprisingly oversubscribed.
The United States is a decade away from being Greece, if it fails to get on the path of fiscal responsibility, former US Comptroller of the Currency David Walker told CNBC Thursday.
Two global Eco disasters are evolving and being handled similarly: they continue to leak, and repair attempts have been ineffective. Residents, citizens, markets, and investors are losing confidence in ever seeing the promised rose gardens of repair and resolution.
For years, almost nobody paid attention to the sky-is-falling alarms of Edward Hugh, a gregarious British blogger and self-taught economist who repeatedly predicted that the euro zone could not survive. The NYT reports.
The euro hit an all-time low versus the Swiss franc Tuesday, after hitting a 4-year low against the dollar the previous day. The single currency recovered in morning trade but fell back against the greenback in early afternoon, and analysts say it will remain volatile. Check out what the pros have to say.
The world's sovereign debt crisis should be tackled in the same way one tackles fictitious zombies – “save those you can, but leave many to die,” Nicoholas Colas, ConvergEx chief market strategist, wrote in a research note.
Q&A on-line exclusive with the chairman of Morgan Stanley, John Mack.
Eurozone nations on Monday started setting up a massive bailout fund that could rescue any member of Europe's currency union from default, aiming to soothe market jitters that have sent the euro to a new four-month low against the dollar.
John Mack thinks a lot of the toxic assets that lead to the financial crisis in 2008 have been taken off-the-balance sheet or marked down drastically.
Engaging in what I perceive as their only avenue to grow, Germany’s Finance Minister Schaueble and France’s PM Sarkozy made statements intimating that the weak Euro is not an issue for the country’s in the European Monetary Union.
If the economy keeps growing at 3 percent the balance of 2010, demand for new capacity—improved rental housing, better located new homes, and commercial construction for retail and factory improvements—should accelerate in 2011.
The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
When it comes to overspending, Greece gets the gold medal. Governments in the Greek capital of Athens haven't balanced a budget in nearly 40 years, and the country narrowly averted bankruptcy in May before panicky European partners grudgingly put up massive rescue loans.
Caught between a populace resistant to more austerity measures and investors demanding budget cuts and more flexible labor markets, the Spanish government is finding it increasingly difficult to keep a grip on power.