"With the negotiations between Greece and the rest of the euro area at an impasse, an impatient German Chancellor Merkel has warned that an agreement must be reached before the end of the month," said Thomas Costerg, senior economist at Standard Chartered. Greece cannot make a payment to the International Monetary Fund due on June 5 unless foreign lenders...» Read More
Markets are likely to have a hangover from New Year’s Eve when they re-open on Tuesday, as traders get back to their desks to a difficult prognosis for the year ahead, analysts and economists warn.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.
The International Monetary Fund (IMF) should resist pressure from European Union leaders to take part in inadequate bailout programs for European countries, Mohamed El-Erian wrote in the Financial Times.
Greek tax officials walked off the job Thursday at the start of a 48-hour strike to protest salary cuts and other austerity measures, as the government struggles to meet revenue targets.
2011 was the most dramatic year for the euro in the decade since the single currency was launched. 2012 may bring more of the same, analysts say.
Europe is facing another troubled year in 2012, with huge disparity in performances between the members of the euro zone, James Nixon, chief European economist, Societe Generale, told CNBC Wednesday.
European stocks were called higher on Friday, after better than expected US jobless claims figures on Thursday suggested the recovery in the world’s largest economy was beginning to gather pace.
European stocks were called higher on Thursday, despite doubts over how much of the money banks raised from an inaugural long term European Central Bank (ECB) tender will actually flow into struggling euro zone economies and restore confidence.
European stocks were called to open higher on Wednesday tracking Asia where shares and the euro rose overnight following positive economic data out of the US and Germany.
Famous economist Nouriel Roubini, credited for predicting the financial crisis, made a plea to policymakers to take the tough action needed to address current economic problems, in an article published on the Financial Times' website.
A break-up of the euro would be “absurd” and “unthinkable,” Vítor Constâncio, Vice-President of the European Central Bank (ECB), told CNBC Tuesday.
European stocks were called lower on Tuesday as Asian shares and the euro steadied overnight after a sell-off on news of North Korean leader Kim Jong il's death.
The market had its sights trained on Italy and Greece for much of 2011 as the Mediterranean economies struggled on the euro zone’s largest debt-to-gross domestic product ratios – and this is unlikely to change in 2012, according to analysts.
European stocks were called to open lower on Monday tracking overnight trade in Asia where stocks were hit by fears of possible ratings downgrades in Europe and the death of North Korean leader Kim Jong il.
The Federal Reserve will keep interest rates low for "three, four, or five years," which is why Pimco is jumping into mortgage-backed securities in a big way, Bill Gross told CNBC Europe Friday.
An extended bank holiday in the European Union to halt a steep market fall, a third party candidate winning the race for the White House, and 50 European banks being nationalized are just a few of Saxo Bank's "outrageous predictions" for 2012.
European stocks were called slightly higher on Friday tracking Asia overnight where shares and the euro climbed as investors were calmed by better-than-expected economic data from the US.
European stocks were called to open lower on Thursday following large declines in Asia and Wall Street and downgrades of five major European banks by credit rating agency Fitch.
The creation of a euro bond has been mooted as one of the ways to help bolster the euro zone, but could actually destroy the single currency, Otmar Issing, former Chief Economist at the European Central Bank, told CNBC Wednesday.
Although unemployment was steady at 8.3 percent in the Organization for Economic Cooperation and Development area, youth unemployment, at 17.2 percent, is high and likely to go higher, Stefano Scarpetta, deputy director for Employment, Labor and Social Affairs at the OECD, told CNBC.com.
European stocks were called to open lower on Wednesday after the Federal Reserve offered no new stimulus measures at its final meeting of the year and doubts over the euro zone persist.
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