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Europe: Economy

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  • 'Tired of Obama' Taking Keynes' Name in Vain Friday, 10 Jun 2011 | 10:01 AM ET

    To spend or not to spend. That is the question dominating the thoughts of economists and politicians across the world as the impact of austerity, or lack of it, on growth rates slowly becomes apparent.

  • Who Really Benefits From Bailouts? Friday, 10 Jun 2011 | 5:37 AM ET
    The Parthenon in Greece

    The euro zone’s reluctance to consider some kind of restructuring for Greece – and at some point Ireland and Portugal – has been heavily criticized by economists, who believe a default of some kind by one or all three of the troubled economies is now inevitable.

  • German Parliament Votes in Favor of New Greece Aid Friday, 10 Jun 2011 | 5:18 AM ET

    The German parliament voted in favor of a resolution on Friday from the ruling coalition parties to back additional aid for Greece.

  • Jean-Claude Trichet

    "Strong Vigilance is needed" said Jean-Claude Trichet three times in Thursday’s European Central Bank press conference.

  • European Shares to Open Lower, Reversing Gains Friday, 10 Jun 2011 | 2:15 AM ET
    Share Price chart

    European shares were set to dip on Friday, reversing gains from the previous session to mirror a weak session in Asian equities, as some worries about the pace of global growth continued to weigh on investor sentiment.

  • Is Winning at Any Cost Killing the Beautiful Game? Thursday, 9 Jun 2011 | 9:25 PM ET
    Real Madrid coach Jose Mourinho

    Keeping costs under control remains the biggest challenge to European soccer clubs, with wage-to-revenue ratios worsening in 2009/2010 despite overall revenue increases, according to new research from Deloitte.

  • BMW Gives Mini Boost to UK Automotive Sector Thursday, 9 Jun 2011 | 10:08 AM ET
    2008 Mini Cooper hardtop

    BMW will invest 500 million pounds ($818 million) in its UK factories as it prepares its manufacturing network for the rollout of its next-generation Mini.

  • Europe Can't Allow Greek Default: Raiffeisen CEO Thursday, 9 Jun 2011 | 6:35 AM ET

    The European Union must save Greece and private bondholders have already begun to price in taking part in future efforts to bail out the indebted country, Herbert Stepic, Raiffeisen Bank International CEO, told CNBC.com.

  • Iceland Ex-Premier Charged, Could Others Follow? Thursday, 9 Jun 2011 | 6:15 AM ET
    Punkaharju, FINLAND: Iceland's Prime Minister Geir H. Haarde waves to photographers after steering a timber tractor during the Nordic premiers meeting in Punkaharju, 19 June 2007. The Nordic Prime Ministers meet in Punkaharju to discuss current topics on the United Nations and the European Union. AFP PHOTO LEHTIKUVA / Pekka Sakki *** FINLAND OUT *** (Photo credit should read PEKKA SAKKI/AFP/Getty Images)

    Geir Haarde, Iceland's former prime minister, has been charged with criminal negligence over his part in the collapse of the country's banking sector in 2008, the first credible attempt to hold a head of government accountable for the failures in oversight that led to the global financial crisis.

  • Rich, Famous and Powerful Converge at Bilderberg Thursday, 9 Jun 2011 | 4:29 AM ET

    Dominique Strauss-Kahn, naturally, isn't attending this year, and his likely successor Christine Lagarde is in China, but the Bilderberg Conference, which kicks off in the Swiss resort of St. Moritz on Thursday, retains its conspiratorial chic and pulling power.

  • Hungary's Austerity Avoidance Right Decision: Minister Thursday, 9 Jun 2011 | 4:18 AM ET
    Budapest, Hungary

    As its European neighbours continue to struggle, Hungary, which turned down part of an International Monetary Fund/European Union loan last year, has won grudging international acceptance for its focus on job creation.

  • European Shares to Open Lower; ECB in Focus Thursday, 9 Jun 2011 | 2:28 AM ET
    Share Price chart

    European stock index futures pointed to a lower open on Thursday, with shares poised to lose ground for the seventh straight session as worries on the outlook for the global economy continue to rattle investors.

  • ECB Set to Hold Rates, Pull Trigger in July Wednesday, 8 Jun 2011 | 10:34 AM ET
    European Central Bank

    The European Central Bank looks set to keep its benchmark interest rate stable at 1.25 percent at its June 9 meeting, analysts told CNBC.com. Policymakers will remain "strongly vigilant" on inflation and global growth concerns, meaning that a rate rise in July looks likely.

  • BT to Grow in Central Asia but Not Buy: Chairman Wednesday, 8 Jun 2011 | 9:07 AM ET
    A local woman votes in the presidential election in the village of Kazakhstan, some 80 kms from Almaty on April 3, 2011. Kazakhstan votes on April 3 in a mostly ceremonial election that is set to stretch President Nurusltan Nazarbayev's rule into a third decade amid Western worries about democracy in the resource-rich state. AFP PHOTO / Vyacheslav Oseledko (Photo credit should read VYACHESLAV OSELEDKO/AFP/Getty Images)

    BT will forge partnerships with telecom operators in countries in Central Asia to boost its presence there but will not buy companies in the region, BT Group Chairman Sir Michael Rake told CNBC.com on Wednesday.

  • Gas the Winner as Europe Rejects Nuclear: Analyst Wednesday, 8 Jun 2011 | 7:34 AM ET
    Exhaust plumes from cooling towers are seen at the Jaenschwalde lignite coal-fired power station in Janschwalde, Germany.

    European gas suppliers could see a boost from Germany's decision to phase out nuclear energy, with other countries set to follow Berlin's lead, Per Lekander, head of utilities research at UBS, told CNBC Wednesday.

  • Gold Is Markets' Friend 'with Benefits': Strategist Wednesday, 8 Jun 2011 | 4:49 AM ET
    Gold Bars

    Gold is the market's 'friend with benefits', and investors would do well to park their cash in the precious metal whilst stocks attempt to find levels more appropriate to the recent economic weakness, according to Nicholas Colas, the chief market strategist at ConvergEx.

  • Greek News 'Depressing' but Not Scary: SAP Exec Wednesday, 8 Jun 2011 | 4:19 AM ET
    Austria

    Talk about a possible default by Greece has caused some concern for SAP in Central and Eastern Europe but it is not changing the company's plans, Manfred Joseph, managing director at SAP CEE, told CNBC.com.

  • The US economy could be facing a so-called Operation Twist rather than a third round of quantitative easing (QE3), a leading economist told CNBC Wednesday.

  • Fed Chief Ben Bernanke Testifies to House Budget Committee

    There was no guidance on the end of the second round of quantitative easing or QE2 and no guidance on the chance of QE3, but Federal Reserve Chairman Ben Bernanke on Tuesday confirmed market expectations that the United States' borrowing costs will remain low for the foreseeable future.

  • Europe Shares to Open Lower, Bernanke Comments Weigh Wednesday, 8 Jun 2011 | 2:17 AM ET
    Share Price chart

    European stocks were expected to open lower on Wednesday, amid fresh concerns over the pace of the US recovery following comments by Federal Reserve chairman Ben Bernanke and continued uncertainty over euro zone debt.

Contact Europe: Economy

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