In a report assessing how individual national policies could interact to undermine the world economy, the IMF also warned the conflict between Russia and Ukraine could reverberate to the rest of the region if sanctions against Russia escalate, hitting natural gas supplies to Europe and weakening European banks.» Read More
"The government has taken very decisive action in cutting capital spending and the salaries of public service workers ... We are in the right direction in terms of winning more foreign investment, says IDA CEO O'Leary.
The recent weakness of the euro against the dollar is set to change and the euro could rise to $1.45 in the next two weeks, Chris Zwermann from Zwermann Financial told CNBC Wednesday.
The euro is unlikely to still exist as a currency over the longer term, the pound will fall substantially in the next few years and US Treasurys and some real estate in China are the world's two current bubbles, legendary investor Jim Rogers told CNBC.com Wednesday.
London and New York share the top place in a ranking of financial centers around the world published Friday, followed by Hong Kong and Singapore.
Markets generally remain way too optimistic over the economic recovery, but the UK has the potential for the biggest disappointment with the pound set to slide as low as $1.31 by year end, Hans Redeker, global head of foreign exchange at BNP Paribas, said Tuesday.
Greece is likely to formally ask the European Union for financial aid if the cost of borrowing does not fall in coming weeks and, if it doesn't get it, may go to the International Monetary Fund, Greek government officials told Dow Jones Newswires.
Poor economic data in the US coupled with Europe's debt crisis are contributing to an increase of the risk of the US economy going through a double-dip recession, Nouriel Roubini said.
Greek leaders' overtures for far tougher curbs on credit default swaps fell largely on deaf ears in Washington, but they'll go back to Athens with some sage advice from local policy wonks: look in the mirror and don't blame market messengers for your debt woes.
The absence of credit default swaps could push a country's borrowing costs even higher.
Greek Financial Minister George Papaconstantinou told CNBC Tuesday that there is "no question" the country's three-year deficit reduction plan will succeed, but he said its problems are also something that pertain to all of Europe.
The European Monetary Fund isn't even a formal proposal yet but it's already creating controvery among European Union leaders.
Economists at Independent Strategy have come to the conclusion that stimulus spending has been a complete waste of time
Greek Prime Minister George Papandreou is due to meet President Barack Obama. Greece is briefing the Obama administration on reforms and discussing global financial regulation.
Plans for the creation of a European Monetary Fund have been gaining momentum as the debt crisis in Europe continues. But how would a European IMF work?
While it definitely is too early to refer to the pound as plummeting, it is not too early to start thinking about the unwanted effects of the pound's volatility.
If islands are not a real cash option and - often deplored by Greek politicians - many of the valuable antiquities have long been pilfered (by fellow Europeans), what DOES Greece still have to sell?
The amount of bickering around the Greek crisis shows that Europe is clearly not ready for a United States of Europe - not yet and maybe not ever.
The European Commission invited regulators, central banks, ratings agencies, fund managers and brokers for a technical meeting Friday in Brussels to discuss the fundamentals of the credit default swaps market.
This is war! That was the message from Athens Wednesday as the Greek government tried to combat the debt threat that hangs over the country.
The pound's fall is nearly over but foreign exchange markets are still going to watch developments, since parity with the euro can not be ruled out as the country gets closer to a crucial spring election, analysts and traders told CNBC.com Tuesday.
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