Europe: Economy


  • Confusion Still Prevails Over Greek Leadership Friday, 4 Nov 2011 | 7:54 AM ET
    The former Greek Prime Minister, George Papandreou

    The future of Greek Prime Minister George Papandreou's government looked increasingly doubtful as it prepared for a confidence vote Friday, with markets facing continued uncertainty in the euro zone.

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    European stocks were expected to open higher on Friday tracking overnight gains in Asia following news that Greece reversed plans to hold a referendum on euro zone membership and the latest bailout for the country.

  • 'Stabilize the Sovereigns, Stabilize the Banks': Pimco Thursday, 3 Nov 2011 | 10:39 AM ET
    The European Union and Greek national flags fly near the Parthenon temple on Acropolis hill in Athens, Greece.

    With political uncertainty rising in Greece, following the call for a referendum, and then rumors of Prime Minister Papandreou's resignation, the expected effects of the European Financial Stability Fund (EFSF), which had gone up last week, crashed down again on Wednesday.

  • Papandreou Tells Cabinet He's Staying Thursday, 3 Nov 2011 | 9:25 AM ET

    Greek Prime Minister George Papandreou insisted he was not resigning at today's emergency cabinet meeting, according to state television.

  • Papandreou Aide Says He's Not Resigning Thursday, 3 Nov 2011 | 8:12 AM ET
    The former Greek Prime Minister, George Papandreou

    Greek Prime Minister George Papandreou's grip on power looked shakier Thursday after the storm surrounding his wish for a referendum on Greece's bailout deal grew, but he apparently has no plans to leave power.

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    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.

  • CEO Confidence Plunges, Bleak Six Months Ahead: Survey Wednesday, 2 Nov 2011 | 8:07 AM ET

    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 Tragedy Could Take Another Twist Wednesday, 2 Nov 2011 | 4:37 AM ET
    The former Greek Prime Minister, George Papandreou

    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.

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    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.

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    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.

  • Wheels Come Off Euro Plan in Just Five Days Tuesday, 1 Nov 2011 | 6:02 AM ET

    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.

  • E.U.

    As last week's bullish tone to markets faded into the distance, one analyst warned that the next three weeks "could go completely disastrous."

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    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.

  • World Heading for Jobs Recession, Unrest: ILO Monday, 31 Oct 2011 | 7:30 AM ET
    Job Losses

    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.

  • What Euro Watchers Should Look Out For: Strategist Monday, 31 Oct 2011 | 6:43 AM ET

    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.

  • European Central Bank

    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.

  • Europe Shares Seen Lower; Focus Shifts to US Monday, 31 Oct 2011 | 3:18 AM ET

    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.

  • EU Leaders Didn't Listen on Debt: Trichet Monday, 31 Oct 2011 | 2:33 AM ET
    Jean-Claude Trichet

    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. 

  • Greece

    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.

  • After Euro Zone Deal, What Stocks Are Attractive? Friday, 28 Oct 2011 | 7:34 AM ET

    Following Thursday's much-anticipated euro zone deal, investors are looking again at stocks although a rally in Europe petered out at mid-day.

Contact Europe: Economy


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