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Europe: Economy

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  • Fitch Downgrades Greece on Lack of Funding Program Wednesday, 13 Jul 2011 | 7:51 PM ET

    Fitch Ratings on Wednesday downgraded Greece deeper into junk territory, citing the absence of a new and fully funded financing program for the country.

  • Entire EU Has Become PIIG: Trader Wednesday, 13 Jul 2011 | 8:01 AM ET

    As the crisis in the peripheral area of the euro zone threatened to drag Italy down further on Wednesday, the majority of the region now faces further contagion.

  • Europe Stocks Seen Flat; China Growth Boosts Asia  Wednesday, 13 Jul 2011 | 12:59 AM ET
    Close-up of a pen on stock price chart

    European stocks are expected to open flat on Wednesday as data showed the Chinese growth story remained on track and with investors digesting news that Ireland's rating was cut to junk.

  • End 'Denial and Impotence in Brussels': Willem Buiter Tuesday, 12 Jul 2011 | 5:10 AM ET
    Statue and Italian Flag in front of Vittorio Emanuele monument.

    European authorities need urgently to increase the size of resources available to indebted European countries faced with liquidity problems if they want to avert disaster, Willem Buiter, Chief Economist at Citi told CNBC on Tuesday.

  • Europe Stocks Seen Sharply Lower on Debt Fears Tuesday, 12 Jul 2011 | 12:55 AM ET
    annuities

    European markets are expected to open sharply lower amid fears the debt crisis is spreading to Italy, the euro zone’s third-largest economy.

  • Greek Default May Be 'Inevitable': Soros Tuesday, 12 Jul 2011 | 12:28 AM ET
    George Soros

    Greece is heading for default, or at least a devaluation, and European Union (EU) leaders have to adopt a "plan B" to stem contagion to the rest of the bloc, billionaire investor George Soros said on Tuesday.

  • Egypt's Market Skids Another 3% As Unrest Grows Monday, 11 Jul 2011 | 3:16 PM ET

    Continued political unrest caused Egypt’s benchmark stock index spacer to decline further on Monday, with added pressure coming from the selloff in other global markets.

  • Shell, Mitsubishi Expected to Sign Iraq Gas Deal Monday, 11 Jul 2011 | 12:20 PM ET
    Natural Gas

    The Iraqi government is expected to sign a $12 billion gas deal with Royal Dutch Shell and Mitsubishi Corp on Tuesday, Dow Jones reported.

  • Germany Pushes for New Greek Rescue Package Monday, 11 Jul 2011 | 8:51 AM ET
    German Chancellor Angela Merkel

    German Chancellor Angela Merkel pressed Monday for a quick agreement on a new rescue package for Greece, and said she is confident that Italy will push through an austerity plan.

  • Questions Raised Over Banking Stress Tests Monday, 11 Jul 2011 | 5:53 AM ET

    After the European market closes on Friday, global markets will be digesting the results of the latest set of stress tests for European banks. Those that fail will need to raise more capital and the health of those that pass is likely to remain in doubt given questions being raised about the credibility of the tests.

  • Alcoa kicks off the second-quarter earnings season Monday after the bell and analysts at HSBC believe now is a good time to buy stocks ahead of a rebound some time in the third quarter.

  • Whatever Happens, Commodities Win: Jim Rogers Monday, 11 Jul 2011 | 2:46 AM ET
    Jim Rogers

    "If the world economy gets better, I earn money on commodities. If the global economy gets worse then they will print more money and I will make money in commodities," Rogers said.

  • Europe Stocks to Open Flat, Debt in Focus Monday, 11 Jul 2011 | 1:19 AM ET

    European stocks were expected to have a muted open on Monday as investors wait for the latest news from European Union officials on how to resolve the Greek debt crisis.

  • Italy, Spain Will Mean More 'Carnage': Fund Manager Monday, 11 Jul 2011 | 12:57 AM ET

    As euro zone finance ministers meet to discuss the latest plan on the table aimed at solving the Greek debt crisis, one fund manager is warning that Italy and Spain will be downgraded, raising the possibility of "carnage" for global markets.

  • A New Nation: South Sudan Readies for Independence Friday, 8 Jul 2011 | 6:57 AM ET
    JUBA, SUDAN - JANUARY 09: Southern Sudanese celebrate at the end of the first day of voting for the independence referendum January 9, 2011 in Juba, Sudan. Southern Sudan is participating in an independence referendum today following a historic 2005 peace treaty that brought an end to decades of civil war between the Arab north and predominantly Christian and animist south. The south is expected to vote around 99 percent to secede from the north which will also give it a majority of Sudan's oil

    On Saturday, South Sudan becomes the world's newest country and Africa's 54th state, a process that follows 50 years of bloodshed. Renewed violence on its borders has shaken hopes of a peaceful transition to nationhood, but the fledgling country is not a failed state in waiting, analysts and senior figures in the reconstruction effort told CNBC.com.

  • Rupert Murdoch, Chairman and CEO of News Corporation

    The likelihood of Rupert Murdoch's News Corp being given UK government approval to complete its takeover of British Sky Broadcasting has "sharply contracted" over the last 24 hours, Alex De Groote, media analyst at Panmure Gordon told CNBC.

  • Europe Stocks to Open Higher on US Jobs Optimism Friday, 8 Jul 2011 | 12:55 AM ET

    European stocks were expected to open higher on Friday after hitting a five-week high by Thursday's close,  following encouraging private sector jobs data in the US and ahead of the government's crucial non-farm payroll report on Friday.

  • ECB Hikes Rates, Hints at Dovish Stance in August Thursday, 7 Jul 2011 | 9:08 AM ET
    European Central Bank

    The European Central Bank raised interest rates by 25 basis points to 1.50 percent on Thursday, as it continued to brush off concerns over sovereign debt worries in the euro zone periphery, but President Jean-Claude Trichet hinted that a further rise in August is unlikely.

  • Europe Should Learn From Uruguay: Bill Rhodes Thursday, 7 Jul 2011 | 4:50 AM ET
    A protestor throws a stone to riot police in front of the Greek Parliament.

    European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC Thursday.

  • European stocks were expected to open higher on Thursday after ending Wednesday lower as the Moody's downgrade of Portugal's sovereign credit rating to "junk" status renewed concerns over euro zone debt, ahead of interest rate decisions by the European Central Bank and the Bank of England.

Contact Europe: Economy

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