BERLIN— Germany's finance minister said Sunday that he trusts Greece's current government to fulfill the conditions for the bailout deal, but also made clear the country would not receive any further money if it didn't. At the same time, Schaeuble warned that if Greece did not fulfill the demands laid out by the eurozone finance ministers in a four-month...» Read More
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.
The euro zone's rescue fund, the European Financial Stability Facility (EFSF), will be allowed to buy bonds in the secondary markets, according to a document setting guidelines for the fund seen by Reuters correspondents.
Markets across Europe fell Thursday morning as negative sentiment about the European Union summit on Sunday spread.
As European leaders scramble to contain the euro zone debt crisis and make preparations for an orderly default for Greece, on e fund manager argues that Russia’s debt crisis in 1998 could hold an important lesson for the southern European nation.
The existence of a crisis for the euro has almost become accepted fact of life in the past few months, with some of the countries in the euro zone struggling with high levels of sovereign debt and the future of the single currency itself questioned.
European stocks were called to open lower on Thursday as investors look ahead cautiously to the summit of European leaders at the weekend, following reports that France and Germany are not in agreement over the European Central Bank's involvement in efforts to strengthen the European Financial Stability Facility (EFSF).
Demonstrators on Wednesday threw stones and gasoline bombs at police outside parliament during a two-day general strike that unions described as the largest in years.
Tens of thousands of protesters rallied in front of the Greek parliament on Wednesday and there were isolated outbreaks of violence as a general strike shut down much of the country ahead of a vote on a painful new round of austerity measures.
Markets seem to be increasingly optimistic that Sunday's European Union summit will help provide some sort of resolution to the euro zone's well-documented problems.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.
While the headlines brim with tales of the euro zone debt crisis, rising inflation and people like Nouriel Roubini warning of an approaching hard landing in China, there’s evidence that some market players, at least, are getting richer.
Volatility in European equity markets and quarterly earnings reports out of the US are distorting the price of stocks and making it hard for investors to buy in the short term, Chris Tinker, equity strategist at Libra Investment Services told CNBC Wednesday.
The youth unemployment rate is expected to show a "minimal decrease" in 2011 since its peak last year but the young, particularly in areas most hit by the crisis, are struggling to find jobs, the International Labor Organization said in a report released Wednesday.
European stocks were called to open higher on Wednesday, tracking gains in US and Asian stocks but investor skepticism persisted over this weekend's summit of European leaders and their ability to reach definitive decisions on how to solve the region's sovereign debt crisis.
Greece has been the butt of jokes throughout the financial crisis, and the implication is always the same: that the Greek people are lazy and don’t like to work.
A 100 percent 'haircut' or write off of Greek debt would be needed to reduce Greece's debts to a manageable level, a senior analyst told CNBC Tuesday.
European stocks were expected to open lower on Tuesday after German Finance Minister Wolfgang Schaeuble zapped investor optimism by warning on Monday there would be no rapid solution to the sovereign debt crisis within the euro zone.