PARIS, Aug 30- Left-leaning European national government leaders meeting in Paris agreed more needed to be done to boost growth in the bloc but that EU rules limiting budget deficits should not be overhauled, German Vice-Chancellor Sigmar Gabriel said.» Read More
Paul Gruenwald, Chief Economist, Asia Pacific at ANZ talks about the euro zone debt crisis.
The Merkel-Sarkozy proposed fix for Europe is a "step in the right direction," but a "revival" of the transaction tax could drive customers from Europe to banks in emerging markets and the U.S., Deutsche Bank CEO Josef Ackermann warned.
Investors were hoping for more than they got from the meeting between Frances's Nicolas Sarkozy and Germany's Angela Merkel. Here's what to do now.
"Short term what we have done is to suggest to cover all short positions and get ready for a potential bounce in the market because of the incredible oversold conditions," Riccardo Ronco, technical analyst at Aviate Global. "But the parallels between 2007 and 2008 are absolutely compelling for me," he added.
CNBC's Michelle Caruso-Cabrera with an update on European banks and markets after yesterday's summit.
"We have talked about this before and we could be talking about it [a Tobin tax] for years to come. We don't know if this is going to gain momentum but if it does the presumably the Swiss will have to follow suit," Jane Foley, senior currency strategist at Rabobank told CNBC. "The UK would almost certainly follow but this is early days," she added.
Singapore dollars get snapped up and European officials underwhelm - it's time for your FX Fix.
Financial stocks are under pressure this morning on worries of a transaction tax.. A check on European market action and where the euro is headed, with CNBC's Julia Chatterley.
Despite what happens in the eurozone, the euro still traded up. CNBC's Louisa Bojesen reports on the latest market activities overseas.
As stock markets in Europe faltered Wednesday after Tuesday's meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy failed to reassure, some investors told CNBC that they are starting to become bullish after recent market falls.
"I think the markets will test the resolve of the Euro zone politicians. It is a game of cat and mouse, and unless the markets push the politicians, they do not do anything. I think we are going to enter our third wave of selling," Chris Watling, chief executive at Longview Economics, told CNBC.
"We have some disappointing developments in Russia. Sales have not been growing, and it is clearly because Russian consumers are taking longer to adjust to higher prices," Jorgen Buhl Rasmussen, CEO at Carlsberg, told CNBC.
"We still expect the market to grow 6-8 percent this year, but we see a lot of nervousness at the moment, so freight rates are under pressure. We are cautious about expecting good returns from the container market," Nils Andersen, chief executive at Moller Maersk, told CNBC.
"Everything (Merkel and Sarkozy) talked about has been in place since 1999. This is a play for the gallery to buy more time," Steen Jakobsen, chief investment officer at Saxo Bank, told CNBC in a discussion on the meeting between the French and German leaders on Tuesday.
"It has been only Germany in the driving seat for a long time. Now it seems as if the balance of power is shifting a little bit towards the rest of the European countries," John Hydeskov, senior analyst at Danske Bank, told CNBC.
CNBC's Ross Westgate has the details on the Euro leaders' meeting, and discussing its impact on the markets, with Keith McCullough, Hedgeye Risk Management, and Andre Julian, OpVest Wealth Management.
The Swiss franc is sliding on worries it will be pegged to the euro. But whether a peg is really feasible is unclear.
CNBC's Ross Westgate has the latest details on the meeting between the two European leaders, and a preview of today's press conference, with Michael Hewson, CMC Markets; Daniel Gross, Yahoo Finance, and CNBC's Michelle Caruso-Cabrera.
Discussing today's meeting between the leaders of two of the top European economies and what it means for U.S. investors, with Axel Merk, Merk Investments, and Robert Parker, Credit Suisse Asset Management.
Euro zone countries pledged in July to obtain parliamentary approval for key Stability Fund powers. It's taking a dangerously long time for the markets.