Russia's economy ministry said on Saturday it expected gross domestic product to fall 3 percent this year, more optimistic than many analysts' forecasts of a 4-5 percent drop.» Read More
More than 500 days of talks to form a government have seen Belgium take from Iraq the dubious honor of taking the longest time ever to form a government, prompting attacks by bond vigilantes as well as international ridicule.
The euro is nothing more than an economic mirage because it lacks the essential building blocks of a long-term secure currency, according to Tim Martin, chairman of UK pub restaurant chain JD Wetherspoon.
The boss of the Greek debt office (PDMA) has told CNBC that Friday is not the deadline for the debt swap plan.
European stocks are expected to open slightly lower on Friday as investors across the world digest details of President Obama’s $447 billion jobs package.
The CEO of private equity giant Blackstone believes America is like a once great athlete who has stopped training, let themselves go and put on a whole lot of weight.
Both the United States and Europe are on recession watch, and investors should not be fooled by the occasional piece of positive economic data, according to two leading economists.
European stocks are expected to make modest gains at the market open as investors await news on whether both the European Central Bank and Bank of England will change policy in response to the economic slowdown and the euro zone debt crisis.
The Swiss central bank's decision to set a limit on how much the Swiss franc can appreciate against the euro is "a huge mistake," investor Jim Rogers, chairman of Rogers Holdings, told CNBC.com on Wednesday.
The UK should find the right balance between risk and safety, or risk a hemorrhaging of business out of London, Lord Peter Levene, chairman of insurance giant Lloyd's of London chairman warned in a speech late on Tuesday.
European stocks are expected to follow Asia higher at the open, boosted by an unexpected jump in data from the US services sector on Tuesday.
Debt-crippled Greece's borrowing costs reached a new record high Tuesday on fears about the country's austerity program, a new blow as Prime Minister George Papandreou chaired a cabinet meeting aimed at finding ways to speed up delayed structural reforms.
On Wednesday, investors will wait with bated breath for news from Germany again, where the Federal Constitutional Court has the power to make or break the fate of the euro zone.
The Swiss National Bank (SNB) came out fighting Tuesday, announcing its intention to set a minimum exchange rate for the Swiss franc against the euro, in a move which sent European shares and the price of gold up.
The cost to Germany of leaving the euro could reach €8,000 for each adult and child in the country and spell disaster for the global economy, according to economists at UBS.
Europe is on the verge of recession and the US is already in a growth recession – an expression used by economists to show that growth is so slow that more jobs are lost than added, a strategist told CNBC Monday.
The exit of any of the countries in the euro region from the single currency would cause "complete chaos" in that country and is "almost inconceivable", Erik Nielsen, global chief economist at UniCredit, told CNBC Tuesday as the euro zone debt crisis continued to loom over European markets.
Former German Chancellor Gerhard Schroeder told CNBC that his successor, Angela Merkel, should never have tolerated the Greece-bashing as the euro zone debt crisis unravelled.
European stocks are expected to add to Monday's losses at the market open with all three major indexes due to start trade in the red.
The current liquidity support measures being used by the European Union to stem the region's banking and sovereign debt crisis won't be enough, World Bank President Robert Zoellick told CNBC in an interview on Tuesday.
If Italian Prime Minister Silvio Berlusconi left office, the market would lay off Italy, according to Nouriel Roubini, the founder of Roubini Global Economics.
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