*ECB policymakers meet in Cyprus on Wednesday, Thursday. NEW YORK, March 2- The dollar edged up on Monday, with an index that tracks the greenback against major currencies touching an 11- year peak even after soft economic data. "The dollar's long-term trend is up but it now is in some consolidation," said Paul Christopher, international strategist at Wells Fargo in St...» Read More
Austrian bank Erste announced on Friday that it had drastically reduced its credit default swaps (CDS) portfolio and that it would close it by the end of the year, after valuing it based on what it would be worth in the market - known as marking to market - earlier in the month.
European stocks were expected to open higher on Friday as stocks continue a rally sparked by the announcement Wednesday of a plan to resolve the euro zone sovereign debt crisis.
The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.
The European debt crisis is worrisome but it is unlikely to pose a danger to major banks on the continent, Michael H. Tomalin, CEO of the National Bank of Abu Dhabi, told CNBC.
In the computerized world of markets, it’s not every second that counts – it’s every micro second.
European stocks opened higher on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with private bondholders that they would take a 50 percent haircut on Greek government debt.
A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said on Thursday.
As the prospect of a conclusive road map for the euro zone emerging from Wednesday's European Union summit receded, proposals to expand the European Financial Stability Facility (EFSF) via a special purpose investment vehicle (SPIV) were met with cynicism.
European stocks were called to open lower on Wednesday, following Asia overnight where shares fell ahead of a crucial meeting of European policymakers which some analysts fear will not bring forward a lasting plan to ease the sovereign debt crisis in the euro zone.
As European leaders ready themselves for another summit on the euro zone crisis, one economist said that the critical situation in Greece should be dealt with by focusing on growth instead of debt.
The countries that will have the most success in weakening the real value of their currencies "are likely to flourish better or at least suffer less than others," author Andrew Smithers wrote.
European stocks were called to open lower on Tuesday, a day ahead of a second summit of European leaders where a deal is expected to be reached over the nature of a plan to resolve the sovereign debt crisis in the euro zone.
The market for luxury goods has come back with a bang in the past couple of years, despite volatility elsewhere in the market.
The real economy is being harmed by the lack of resolution to the euro zone debt crisis, as consumers put off big ticket purchases while waiting for a decision, a fund manager told CNBC on Monday.To help solve Europe's sovereign debt crisis, a special organization was set up in 2010 called the European Financial Stability Facility, or EFSF. So what is it and how does it work? CNBC explains. 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.
David Cameron has urged European leaders to take a “big bazooka” approach to resolving the eurozone crisis, warning they have just a matter of weeks to avert economic disaster. The FT reports.
European stocks were expected to open higher on Monday following a much anticipated summit of European leaders on Sunday, where policymakers edged closer to an agreement on recapitalization of the region's banks and details relating to the European Financial Stability Facility.
The euro is a credible currency, and the euro zone as a whole has better economic fundamentals than the U.S. and Japan, Jean-Claude Trichet, the outgoing European Central Bank President, told TVN-CNBC in an interview Friday.
"We're in a situation, if you were scripting a disaster movie, you really couldn't build the tension better," one analyst told CNBC.
European stocks were expected to open higher on Friday ahead of a crucial summit of European leaders on Sunday.
Greek lawmakers have passed a deeply resented austerity bill that has led to violent protests on the streets of Athens, despite some dissent from one Socialist lawmaker.