FRANKFURT, Germany— The European Central Bank on Sunday will reveal the results of a yearlong search through the books of Europe's 130 biggest banks, a key part of the region's effort to recover from its debt and economic crisis. Companies need the loans to invest and hire if Europe's economy, which didn't grow at all in the second quarter and has unemployment of...» Read More
Germany's reticence to come to the rescue of the Greek government has been widely criticised across the euro zone.
Whispers of contagion are sending a chill through bond markets, while the euro is likely to fall further and things don't look pretty for stocks. Smart money is likely to go into gold.
The sovereign debt crisis will get worse and bond vigilantes could move on to even bigger economies like the United States and Japan when they are done sweeping through vulnerable European nations, according to economist Nouriel Roubini.
The man who is likely to succeed Jean-Claude Trichet as the President of the European Central Bank told CNBC that the Greek bailout will be implemented soon and dismissed the idea that the euro zone is at risk of falling apart.
There is no evidence of contagion from the Greek debt debacle to other markets, but the country's woes will help push the euro down, boosting exports for some countries in the single European currency area, David Bloom, global head of foreign exchange research at HSBC, told CNBC Monday.
The recent rally in stocks has lost momentum and investors should bail out now or face a summer of sharp declines, Robin Griffiths, technical strategist from Cazenove Capital, told CNBC Monday.
The Greek debt bailout is similar to the subprime crisis in the US and likely will send global investors looking for safety, Pimco's Mohamed El-Erian told CNBC.
Greece gave in to market pressure and officially requested financial aid from the European Union and the International Monetary Fund Friday, but analysts and traders say the rollercoaster ride for investors is not over.
Allowing Greece to go bankrupt may cause a lot of pain but it will be better for the single currency in the long run, investor Jim Rogers said in an interview with CNBC on Friday.
The world economy is clearly in a V-shaped recovery and those talking up a double dip recession are way off the mark, Jim O'Neill, the head of global economic research at Goldman Sachs, told CNBC.com.
The global economy is facing a lost decade or a fully-fledged recession unless policy makers change their ways now, economists at Independent Strategy said.
The sovereign debt crisis facing Europe, which started in Greece, is spreading to many other large economies in the Organization for Economic Cooperation and Development (OECD), according to New York University professor of economics Nouriel Roubini.
If governments around the world come down too hard on the banking sector with punitive regulation they could cause the economic recovery to stall, George Godber, senior investment manager from Charles Stanley, told CNBC Tuesday.
The political philosophies espoused by former leaders Ronald Reagan and Margaret Thatcher will wither and die as the West watches its financial and political power ebb away to the East, according to HSBC’s chief economist.
The billionaire investor said he believes that Germany’s insistence on an interest rate of 5 percent for the aid package has compromised the rescue because it would water down its impact.
Perhaps, you’ve been mystified, like me and the CNBC crew here in Vienna, by how a big cloud now covering much of Europe has brought us back to the Stone Age, travel-wise.
Shares in European airline and travel stocks fell heavily on Monday as ash from an Icelandic volcano looked set to bring much of Europe to a standstill for a 5th straight day.
It's probably not the favor that the bank was hoping to deliver, but the SEC's decision to charge the Wall Street giant with fraud has definitely taken the spotlight off Athens and its budgetary woes.
European Commission President Jose-Manuel Barroso on Sunday called for Europe to co-ordinate any steps to address the economic impact of Icelandic Volcano which has grounded flights across the continent.
The yuan's peg against the dollar and a bigger say on the international scene may be making all the headlines as the BRIC leaders meet in the Brazilian capital over the next 24 hours. But the big story is the growth in trade and investment between the four economic power houses – and how this is shaping relations between them.
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