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CNBC's Simon Hobbs reports on all the market moving events in Europe today, including
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Fitch ratings agency on Monday revised down its growth forecasts for all major advanced economies, and said it expected growth in emerging economies to slow as well due to financial market volatility which has dented confidence and caused a drop in private consumption and business investment.
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As the enlargement of the European Financial Stability Facility (EFSF) draws nearer, opinion is still divided on whether changes to the bailout fund will be enough to stench the flood of problems facing the eurozone.
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Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.
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Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF.
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Greece and debt inspectors have apparently agreed that older civil servants near retirement age will bear the brunt of personnel cuts in the public sector, according to media reports.
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The euro's being whipsawed by talk of debt plans. Here's how to trade an actual European event.
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The present crisis of the Eurozone is a direct consequence of a half hearted, half considered, half explained and therefore half finished integration process, writes the former Prime Minister of Hungary.
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For bank investors, the third quarter is one they’d rather erase from their minds – and portfolios alike. European banks were down by more than 25 percent and saw their worst performance since the fourth quarter of 2008, when the collapse of Lehman brothers shook the markets.
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A downgrade down under and Germans aren't shopping enough - it's time for your Friday FX Fix.
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The 17 European countries that make up the euro zone face a 40 to 50 percent chance of recession by the end of the year, economists at Goldman Sachs predict, adding that “at best, the European recovery looks to be weak and hesitant”.
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As the markets seemed poised to record their worst quarter since the dark days of 2008 Friday, an HSBC strategist told CNBC that liquidity was the most important thing to investors at the moment.
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Concerns over investment in Central and Eastern Europe have grown as a solution to the problem of sovereign debt in the peripheral euro zone has eluded policymakers and global growth has slowed.
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CNBC's Simon Hobbs has the details on Germany's vote to expand the rescue fund for European countries in crisis, and a look at what's next for Europe, with John Makin, AEI resident scholar, and Irwin Stelzer, Hudson Institute.
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The German Parliament's vote to expand the role of the European Financial Stability Facility has given the markets a "confidence boost," but it is only a short-term fix to Europe's solvency issues, Dino Kos, former N.Y. Fed executive vice president, told CNBC Thursday.
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So much for the idea of a levered Euro-TARP. German Finance Minister Wolfgang Schaeuble told lawmakers the European Financial Stability Facility would not be used to create a leveraged bailout vehicle, according to Dow Jones Newswires.
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As the sovereign debt crisis worsens, there is still a lack of a long term solution. Current rumors center on Europe extending their ability to bail out periphery economies.However, politics and implementation issues pose a significant challenge.As Greece has shown, so far these bailouts haven’t worked, and with debt burdens rising and problems spreading to the core, the situation is only getting tougher.
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The U.K. deputy prime minister said on Thursday that any solution to the euro zone crisis must not lead to some member states dictating terms to other European nations—such as the U.K.—that are outside the currency union.
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Germans vote yes on bailout powers, commodity prices bite - it's time for your FX Fix.
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Economists at Citigroup have again cut their global gross domestic product forecasts for 2011 and 2012 as growth prospects “continue to deteriorate quickly.”
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Germany's parliament has approved reforms to the European Financial Stability Facility (EFSF) that would allow the fund to participate in the primary market and to recapitalize European banks in a much-anticipated vote in the Bundestag.