If Greece doesn't stick to that, there will be no further aid, "Schaeuble said according to the pre-publication extract. He said a Grexit was not the desired outcome and nobody had forced a bailout upon Greece so the ball was in Athens' court. Greek Prime Minister Alexis Tsipras denied on Friday that Greece would need another international bailout.» Read More
As negotiators arrive back in Athens today, Greece enters a pivotal time period in which it must finish a crucial renegotiation of its more than $200 billion of debt.
As the euro zone gears up for yet more high-level meetings about its debt crisis, a fund manager advised investors to sell European shares in the wake of the series of planned summits.
A Hungarian delegation prepares to resume talks with the International Monetary Fund this week, hoping to secure a credit lifeline while investors continue to push up the country’s borrowing costs.
Fitch became the third ratings agency to downgrade Hungary's debt to "junk" status on Friday, invoking further deterioration in the country's fiscal and external financing and growth outlook and the government's "unorthodox" economic policies.
The euro will not collapse as a result of the sovereign debt crisis plaguing the euro zone and is more likely to rise than fall in the coming months, HSBC currency strategists said in a new report.
France's bond auctions have been “reassuring” so far and the country will persuade investors that it is a safe place for their money, French Budget Minister Valerie Pecresse told CNBC in an interview Thursday.
Creating a stronger currency union will take time, and the two leaders should concentrate on putting out the immediate fire first, by finding ways to boost growth, analysts told CNBC.com.
The risk of a break-up of the euro zone is “vastly overplayed” and a collapse of the single currency area is out of the question, Ian Bremmer, President of the Eurasia Group told CNBC on Tuesday.
Markets are likely to have a hangover from New Year’s Eve when they re-open on Tuesday, as traders get back to their desks to a difficult prognosis for the year ahead, analysts and economists warn.The European Central Bank—or ECB—is the central bank for Europe's single currency, the euro. Managing the euro and the countries that use it is a big task, as CNBC explains.
The International Monetary Fund (IMF) should resist pressure from European Union leaders to take part in inadequate bailout programs for European countries, Mohamed El-Erian wrote in the Financial Times.
Greek tax officials walked off the job Thursday at the start of a 48-hour strike to protest salary cuts and other austerity measures, as the government struggles to meet revenue targets.
2011 was the most dramatic year for the euro in the decade since the single currency was launched. 2012 may bring more of the same, analysts say.
Europe is facing another troubled year in 2012, with huge disparity in performances between the members of the euro zone, James Nixon, chief European economist, Societe Generale, told CNBC Wednesday.
European stocks were called higher on Friday, after better than expected US jobless claims figures on Thursday suggested the recovery in the world’s largest economy was beginning to gather pace.
European stocks were called higher on Thursday, despite doubts over how much of the money banks raised from an inaugural long term European Central Bank (ECB) tender will actually flow into struggling euro zone economies and restore confidence.
European stocks were called to open higher on Wednesday tracking Asia where shares and the euro rose overnight following positive economic data out of the US and Germany.
Famous economist Nouriel Roubini, credited for predicting the financial crisis, made a plea to policymakers to take the tough action needed to address current economic problems, in an article published on the Financial Times' website.
A break-up of the euro would be “absurd” and “unthinkable,” Vítor Constâncio, Vice-President of the European Central Bank (ECB), told CNBC Tuesday.
European stocks were called lower on Tuesday as Asian shares and the euro steadied overnight after a sell-off on news of North Korean leader Kim Jong il's death.
The market had its sights trained on Italy and Greece for much of 2011 as the Mediterranean economies struggled on the euro zone’s largest debt-to-gross domestic product ratios – and this is unlikely to change in 2012, according to analysts.