ANTANANARIVO, March 15- The World Bank and the European Union will resume financial support to Madagascar, officials said, pledging to help rebuild the Indian Ocean island economy still reeling from a coup in 2009..» Read More
Greece's hasty cabinet reshuffle has failed to boost confidence both domestically and internationally in the ability of the Greeks to help themselves out of the deepening debt crisis, Konstantinos Michalos, president, Athens Chamber of Commerce and Industry, told CNBC Friday.
Russia and China are the most attractive BRIC countries at the moment, according to Jim O’Neill, Chairman of Goldman Sachs Asset Management.
Following a disappointing bond auction in Madrid on Thursday, the firewall that markets thought existed between Greece, Portugal and Ireland and the much bigger and systemic economies of Spain and Italy is in danger of being shown to be an illusion, according to Mike Riddell, a fund manager at M&G in London.
The sluggish state of the U.S. economy will once more be the grist for markets, if Greece's short term financing needs are met.
What happens if Greece defaults? Everyone from Japanese savers to US retirees is likely to feel the effects. Learn more.
More Greek drama: rapid price changes in a corner of the currency markets suggest banks are worried about an interbank lending freeze, absent a rescue plan for Greece.
When you have a country with a debt-to-GDP ratio that rises above 150%, historically that country defaults. I bring this up because the debt-to-GDP ratio in Greece is somewhere in the neighborhood of 160%.
The executive in charge of restructuring Lehman Brothers sees some "striking" similarities between his company and Greece, he told CNBC Thursday.
Sean Egan, Egan-Jones Ratings Company president, says the massive debt burden in Greece could bring down other European banks and choke Euro economy.
Regardless of whether there is another Greek “save”, preventing the actual default that still seems inevitable, the fact remains that adding debt to try and solve a debt crisis is a moronic approach when your interest costs already exceed your tax revenues (as is currently the case in Greece).
Markets took a tumble on Thursday on fresh worries about the Greek debt crisis and European policy makers were urged to come up with a credible plan to restructure the country's debt.
CNBC's Michelle Caruso-Cabrera reports several members of Greece's Parliament have offered to resign today.
The euro is sliding, the safe-haven Swiss franc is rising, and everyone is watching Greece — it's time for your FX Fix.
Investors are watching Greece and worrying about the markets. Sarat Sethi, Douglas C. Lane & Associates and Stuart Schweitzer, JPMorgan Private Bank weigh in on the global economic future.
CNBC's Michelle Caruso-Cabrera has the story on world stocks falling due to lack of a deal on Greek debt.
The dollar will stay at around the $1.40 mark against the euro for some time as both currencies face downward pressure and the euro is resistant to bearish news, Dennis Gartman, hedge fund manager and author of The Gartman Letter, told CNBC Wednesday.
A new bet has been placed on the the Greek debt crisis. It backs a growing view among investors that Athens may be about to suffer a messy default that could spark a run on the country’s banks and a deeper eurozone crisis, the FT reported.
The Greek debt crisis fanned a broad sell off Wednesday and it will no doubt keep markets on edge Thursday.
"The easiest trade is to sell Euros," says Andrew Busch, BMO Capital Markets.
Gold is almost like another currency these days, and this strategist thinks it has room to run against the euro.