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Europe: Economy

  • ESM Threatens to Expose ‘Soft Core’ Thursday, 4 Oct 2012 | 2:19 AM ET
    European Central Bank

    Better late than never. After a string of delays, and having overcome a constitutional obstacle in Germany, the euro zone’s new rescue fund, the European Stability Mechanism, looks set to be finally inaugurated on Monday, the Financial Times reports.

  • Spain Sells 4 Billion Euros of Bonds, Yields Mixed Thursday, 4 Oct 2012 | 5:15 AM ET
    Spain

    Spain sold four billion euros ($5.1 billion) of shorter-dated government bonds on Thursday, paying slightly more to borrow over three years than a month ago but drawing strong interest from investors.

  • The explosion area is pictured after several Syrian shells crashed inside Akcakale town in Turkey, killing at least five people on October 3, 2012.

    The Turkish prime minister announced on Wednesday night that Turkey had fired artillery at targets in Syria, in retaliation for Syrian mortar fire that fell in a Turkish border town and killed five Turkish civilians, the New York Times reports.

  • The Glory Days of Currency Trading Are Over: HSBC Wednesday, 3 Oct 2012 | 6:49 AM ET

    Once upon a time, the foreign exchange (FX) markets enjoyed a clear framework for trading and were seen as a reflection of the health of global economies. But as central bank programs of quantitative easing have been introduced, currency market trades are not so clear cut, according to analysts at HSBC.

  • No Relaxation of Bank Capital Targets: EU Watchdog Wednesday, 3 Oct 2012 | 2:43 AM ET
    Bank Vault Door

    The European Union's banking watchdog will stick to a target for banks to raise more capital to help shield them from the euro zone debt crisis when it publishes a new report on Wednesday.

  • Ten Billion People on Earth: Nightmare or Non-Event? Wednesday, 3 Oct 2012 | 7:45 AM ET
    Crowd of spectators

    By 2100, some 10 million people will inhabit the earth, according to the United Nations.  When that happens will we encounter an “unprecedented planetary emergency” or can engineering, technology and the human spirit rise to the challenges posed by 10 billion people on earth?

  • Ireland

    As Portugal, Greece and Spain dominate the headlines with public protests, banking woes and bailouts, Ireland – one of the euro zone’s original crisis economies - is set to return to growth in 2013, according to Danske Research.

  • Protestors wear gas masks as they advance down a street during clashes with riot police officers near Syntagma square during a 24-hour labour strike September 26, 2012 in Athens. Today marks Greece's first big anti-austerity strike since the coalition government took power in June.

    The differences in approach could not be more distinct — or telling. Fresh austerity measures were announced last week by Prime Minister Mariano Rajoy of Spain. Two of the most economically distraught countries in the euro zone, Greece and Spain, mapped out additional budget cuts last week, the New York Times reports.

  • Contrary to popular belief, bankers and politicians are not to blame for the financial crisis. Rather, it’s systemic flaws in the very nature of democracy that allowed financial imbalances to take root.

  • Greek Parliament

    The London real estate market was abuzz. A wealthy Greek banker wanted to spend up to £60 million (nearly $100 million) for a home, and was in a hurry to make a deal. Evangelos Meimarakis, the president of the Greek Parliament, is among the more than 30 Greek politicians under investigation for possible tax evasion and the illegal accumulation of wealth, the New York Times reports.

  • Car makers are hoping to battle a global downturn and Europe’s debt crisis with a series of new models and technologies at the Paris Motor Show this week, in the expectation that it will help boost flagging sales.

  • Australia’s Mining Boom Isn’t Over: Expert Thursday, 27 Sep 2012 | 6:50 AM ET

    Australia may be gripped by fears its mining boom is ending, but HSBC believes extraction industries will continue to power the Australian economy

  • Is Market Rally a False Dawn? Thursday, 27 Sep 2012 | 6:11 AM ET
    Thumbs up Thumbs down

    Stock markets across Europe returned to September’s rally on Thursday, despite well-publicized unrest on the streets of Greece and Spain.

  • Investors Warned: Step Away From the Kool-Aid Thursday, 27 Sep 2012 | 3:54 AM ET

    European Central Bank President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work.

  • Spanish Ire, Symbolized by a Carrot Thursday, 27 Sep 2012 | 2:05 AM ET
    Bugs Bunny

    As Spanish domestic politics threaten to spin beyond the control of the central government, they are also making it harder for Prime Minister Mariano Rajoy to meet Spain’s financial obligations to the rest of the euro zone, the New York Times reports.

  • Euro Zone Misery to Last for Decade: Ernst & Young Thursday, 27 Sep 2012 | 5:14 AM ET
    European Union flags in front of European Commission headquarter in Brussels, Belgium.

    The fallout from the euro zone debt crisis will continue to hurt the region for the next decade, accountants Ernst & Young have warned.

  • Greece Is Better Investment Than China Right Now Wednesday, 26 Sep 2012 | 1:51 PM ET
    A fire bomb explodes behind a riot police squad on September 26, 2012 in Athens during clashes with demonstrators at a 24-hours general strike. Police in Athens clashed with hooded youths throwing firebombs on the sidelines of a large demonstration against a new round of austerity cuts.

    Greece may be in flames, but its stock market is doing quite nicely. In fact, the gains so far this year have outpaced those in many financially stronger countries—especially China.

  • Riot policemen hold back a demonstrator during clashes around the Spanish parliament in a protest against spending cuts and the government of Mariano Rajoy. Madrid, Spain

    Spanish share prices tumbled nearly four percent on Wednesday, as investors worried whether the European Central Bank and its partners have sufficient resources to rescue the ailing Spanish economy.

  • As Russian Firms List Abroad, Is Now the Time to Invest? Wednesday, 26 Sep 2012 | 8:47 AM ET

    The listing of Russia’ largest bank Sberbank on the London Stock Exchange, raising some $5 billion, is just the beginning of a wider trend and shows how Russian state-owned businesses are increasingly turning towards privatization, Anton Karamzin, deputy chairman and CFO of Sberbank, told CNBC.

  • Greek Protestors Seek 'Stay of Execution' on Bailout Wednesday, 26 Sep 2012 | 7:51 AM ET
    Protestors wear gas masks as they advance down a street during clashes with riot police officers near Syntagma square during a 24-hour labour strike September 26, 2012 in Athens. Today marks Greece's first big anti-austerity strike since the coalition government took power in June.

    Violent protests erupted on the streets of Athens on Wednesday. They could help the Greek government make its case for less stringent bailout conditions to its international creditors.

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