PARIS, April 19- Greek banks may soon run out of collateral to access European Central Bank refinancing unless Athens reaches an agreement with the European Union and International Monetary Fund on economic reforms, France's central bank chief said. The remarks by Banque de France Governor Christian Noyer, to be published by Le Figaro on Monday, came as Athens...» Read More
Stocks across Europe are expected to fall at the open after German Chancellor Angela Merkel and French President Nicolas Sarkozy warned the Greek Prime Minister that he would not receive another cent in aid until his country committed to remaining within the euro.
Confidence levels among European CEOs have seen a record fall over the past three months, with the situation expected to worsen further in the near term as the euro zone debt crisis threatens the stability of the region’s economy , according to a survey by the Young Presidents Organization.
Greek Prime Minister George Papandreou is gambling his political life and legacy on a no confidence vote on Friday, which could be crucial to the future of Greece. 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.
European stocks were called to open higher on Wednesday, rebounding slightly from sharp declines on Tuesday when news that Greece would hold a referendum on the euro zone debt deal agreed last week shocked investors, leading to the biggest one day loss in over a month in Europe.
The political upheaval in Athens has suddenly made the once unspeakable — Greek debt default — a distinct possibility. So now it is time to ponder the once unthinkable: that Greece might end its 10-year use of the euro and return to its former currency, the drachma. The NYT reports.
Just five days after EU leaders agreed a new plan to tackle the debt crisis, it is already facing huge criticism. The market, fueled by the collapse of MF Global on Monday, is showing Angela Merkel and Co exactly what it thinks on Tuesday.
As last week's bullish tone to markets faded into the distance, one analyst warned that the next three weeks "could go completely disastrous."
European stocks were expected to open lower on Tuesday after stocks and commodities fell in Asia overnight before recovering in late trade. Investor concerns over the pace of action to resolve the debt crisis continues to weigh, but weaker-than-expected PMI data out of China had a short lived impact on markets.
The world economy is on the verge of a new and deeper jobs recession that will delay the global recovery further and may spark social unrest in "scores of countries," the International Labor Organization said on Monday.
As last week's euro zone rally was followed by falls across the board Monday, with one strategist saying that the "real problem" is yet to come.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
European stocks were expected to open lower on Monday after Asian shares dropped overnight following a close to 10 percent rally last week on news that the euro zone will implement a number of measures to resolve its sovereign debt crisis.
Too many European Union leaders did not understand the gravity of the Greek debt situation following years of failure to adhere to rules on borrowing, the outgoing boss of the European Central Bank told CNBC.
Fitch ratings agency says Greece's credit grade will remain low even after its debt load is cut as part of a European plan to fight the financial crisis.
Following Thursday's much-anticipated euro zone deal, investors are looking again at stocks although a rally in Europe petered out at mid-day.
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.