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Europe: Economy

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  • ECB Hikes Rates, Hints at Dovish Stance in August Thursday, 7 Jul 2011 | 9:08 AM ET
    European Central Bank

    The European Central Bank raised interest rates by 25 basis points to 1.50 percent on Thursday, as it continued to brush off concerns over sovereign debt worries in the euro zone periphery, but President Jean-Claude Trichet hinted that a further rise in August is unlikely.

  • Europe Should Learn From Uruguay: Bill Rhodes Thursday, 7 Jul 2011 | 4:50 AM ET
    A protestor throws a stone to riot police in front of the Greek Parliament.

    European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC Thursday.

  • stock_chart_3_200.jpg

    European stocks were expected to open higher on Thursday after ending Wednesday lower as the Moody's downgrade of Portugal's sovereign credit rating to "junk" status renewed concerns over euro zone debt, ahead of interest rate decisions by the European Central Bank and the Bank of England.

  • ECB to Shrug Off Periphery Concerns, Raise Rates Thursday, 7 Jul 2011 | 1:50 AM ET
    European Central Bank

    The European Central Bank is expected to raise rates by 25 basis points on Thursday, as indicated in its June press conference, despite ongoing concerns over the euro zone's periphery.

  • Portugal Debt Insurance Costs Hit High After Downgrade Wednesday, 6 Jul 2011 | 8:10 AM ET
    Portugal

    The cost of insuring Portuguese debt against default hit a record high on Wednesday and yields on Portuguese bonds spiked after Moody's cut the country's credit rating to junk and warned it may need another bailout.

  • Democracy Key to Egypt's Economy: Prime Minister Wednesday, 6 Jul 2011 | 5:45 AM ET
    cairo_exchange_200.jpg

    Ahead of large-scale protests planned for this Friday, Egyptian Prime Minister Essam Sharaf stressed that the government respects the right of citizens to demonstrate peacefully.

  • In Europe, an 'Argentinean Re-Run': Fund Manager Wednesday, 6 Jul 2011 | 3:19 AM ET
    A riotpoliceman arrest a protestor during clashes in front of the Greek Parliament.

    The situation facing European countries like Greece and Portugal is directly comparable to the economic crisis which hit Latin America in the late 1990s, Andy Brough, co-head of Schroders’ Pan European Small and Mid Cap team, told CNBC Wednesday.

  • European Stocks Seen Slightly Higher; Portugal in Focus Wednesday, 6 Jul 2011 | 12:35 AM ET
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    European stocks were expected to edge higher on Wednesday after a mixed close on Tuesday and following the decision by credit rating agency Moody's to downgrade Portugal's credit rating to junk status.

  • greece_church_flag_200.jpg

    Evangelos Venizelos, who was brought in as Finance Minister of Greece two weeks ago, said Greece's part in the euro zone was "not reversible" in a first on CNBC interview Tuesday.

  • Grain Futures Sell-Off Was 'Overreaction': Analyst Tuesday, 5 Jul 2011 | 8:18 AM ET
    Wheat Fields

    Markets have overreacted to recent concerns on oversupply in soft commodities, and the fundamentals do not support the recent sell-off, Sudakshina Unnikrishnan, analyst at Barclays Capital, told CNBC on Tuesday.

  • bankruptcy_sign2.jpg

    Distressed corporate debt represents an excellent opportunity for investors as political and economic uncertainty rattles global bond markets and small and medium sized businesses struggle to raise capital, Jon Macintosh, manager at closed-ended investment company Acencia Debt Strategies told CNBC.

  • Euro Zone Status Quo 'Untenable': Economist Tuesday, 5 Jul 2011 | 5:17 AM ET

    The current situation in the euro zone is "untenable" and policymakers will have to either pursue greater European economic integration or see countries exit the euro, George Magnus, Senior Economic Advisor, UBS told CNBC Tuesday.

  • Euros & Downward Graph

    Growth in the euro zone's dominant service sector slowed for a third straight month in June, and by more than an initial estimate, with sluggish new orders dimming the outlook, a survey showed on Tuesday.

  • European Shares Seen Flat to Lower; Data Eyed Tuesday, 5 Jul 2011 | 2:00 AM ET
    Close-up of a pen on stock price chart

    European shares are expected to open flat to slightly lower on Tuesday as one-month high equity prices prompt investors to take profits ahead of the euro zone services PMI and retail sales data, which may offer some short-term direction to the market.

  • Europe Must 'Acknowledge' Greek Default: Economist Monday, 4 Jul 2011 | 4:44 AM ET

    A Greek default is coming and the European authorities trying to avoid it will have to face up to it eventually, a leading economist told CNBC Monday.

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    The price of corn is the latest of a series of signals that remind investors about 2008, the year the financial crisis spread across the globe and Lehman Brothers collapsed, Simon Derrick, chief currency strategist at Bank of New York Mellon, wrote in a note Monday.

  • German Finance Minister Wolfgang Schaeuble

    Europe needs to be prepared to help Greece more in future in order to fuel economic growth in the country,  German Finance Minister Wolfgang Schaeuble told German magazine Spiegel in a interview when asked whether Greece needed a European Marshall Plan.

  • European Stocks to Rise as Greece Gets Aid Monday, 4 Jul 2011 | 2:53 AM ET
    Close-up of a pen on stock price chart

    European stocks were expected to open higher on Monday after they hit a one-month closing high on Friday as better-than-expected manufacturing data for June raised hopes that the US recovery is still on track and euro zone finance ministers agreed to release the next tranche of aid to Greece.

  • Wealth Manager Cuts Stocks Exposure to Zero From 60% Friday, 1 Jul 2011 | 10:06 AM ET
    NYSE Trader

    Zero exposure to stocks is the best way to position a portfolio over the next few months as markets look set to remain volatile due to a "pretend and extend" strategy on Greece, Bruno Verstraete, CEO at Nautilus Invest told CNBC.

  • Riot policemen arrest a demonstrator as they clash with protesters during a 48-hour general strike in Athens.

    Sovereign default in developed economies could be "catastrophic" for investors, a report by BlackRock Investment Institute noted, as many traditionally have large holdings in government debt as a very low risk, relatively low return investment.

Contact Europe: Economy

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