After investing billions in Greek banks, Ross and other US investors are watching assets evaporate as the economic turmoil heats up — again.» Read More
Stocks are dropping over concerns over Spanish bank funding, lower China growth, IMF warning on Austria, SF Fed warning on US states, and strikes in Europe.
Even with the EU bailout, giving Greece 3-years of breathing room, the market is saying something is not right and that Greece will not be able to avoid some sort of debt restructuring.
Greece is preparing a make-or-break return to the financial markets next month as it plans to raise about 4 billion euros ($4.96 billion) in its first borrowing attempt since last month's bailout, the Financial Times reports.
As reports resurface that Greece is considering selling leases to some of its islands to pay down debt, fears are growing that the euro zone member could restructure its debt over the summer months. But analysts disagree, saying this would be bad for German banks.
I was hoping we could forget about the Club Med countries for a while. China's currency, the G20 Toronto meeting, and the sacking of McChrystal pushed Greece off the front page.
The move by China to allow a more flexible exchange rate for its currency shows that the danger of a double-dip recession is remote, Bob Doll, BlackRock vice chairman, told CNBC Monday.
The rebound of Europe's single currency may be jeopardized by reports over the weekend that France and Germany are mulling a two-tier euro zone, ING Bank analysts said Monday.
I’ve been warning about for some time about how doing stress tests are great, but there are at least two more steps that need to be taken for reduction of uncertainty over European banks and countries.
Guess what? The funniest thing happened in Europe on Thursday. A new country joined (yes, joined) the euro zone. And the mood here was upbeat. Estonia will begin using the euro on Jan. 1.
The stock market wants to go higher though. It is sloughing off bad news. Be it a headline in the Wall Street Journal that says Spain is in trouble financially, Greece being downgraded by a rating agency or German sentiment taking a downturn, the market forges ahead. I guess bad news is just the formula for a rising market.
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.
And here is Cramer’s plan for surviving it.
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.