No matter which way the Greek vote goes, the European Central Bank on Monday will face a series of agonizing decisions.» Read More
The global credit crunch may force banks to take back up to 1.2 trillion euros ($1.66 trillion) in debt on their balance sheets if investors are unable to refinance it, the Dutch Central Bank (DNB) said on Monday.
The euro zone's trade surplus was smaller than expected in July, unadjusted data showed on Monday, but exports continued to grow more quickly than imports.
Qatar's state investment fund is close to buying Nasdaq's 31% stake in the London Stock Exchange Group, newspaper reports said on Sunday.
EU finance ministers gave the European Central Bank a thumbs-up on Friday for its efforts to combat a global credit crunch and said they hoped the damage to economic growth from market turmoil would be limited.
European car sales zoomed ahead in July and August after slow sales most of the year in major car-buying nations, netting strong results for BMW, DaimlerChrysler, Fiat and General Motors.
German Economy Minister Michael Glos said on Friday he feared the euro would remain strong and turbulence on financial markets would continue.
U.K. Chancellor of the Exchequer Alistair Darling Friday called on global economic policymakers and regulators to provide a coordinated response to financial stability issues arising from the recent period of instability in global financial markets.
European stocks closed in the positive territory Thursday, helped by encouraging signs in credit markets.
Bankers are refinancing $100 billion-plus of commercial paper debt maturing into next week without major troubles so far, but borrowers are facing shorter maturities and higher costs as liquidity and confidence remain in short supply.
The current turmoil makes a restart of the European Central Bank's tightening cycle uncertain. It will take months before financial markets return to normal.
The Swiss National Bank raised interest rates by 25 basis points on Thursday as inflation risks from the booming economy persisted but said it aimed to calm conditions on the money market, roiled by the global credit crisis.
Risks to global expansion have recently increased due to tensions in the U.S. subprime mortgage market and there are fears of growing spillovers to other segments, the European Central Bank said on Thursday.
European stocks closed higher on Wednesday, but uncertainty about the strength of the global economy still lingered and a series of political surprises caught investors off guard.
The European Central Bank lent commercial banks 75 billion euros ($104 billion) in three-month funds Wednesday, 25 billion euros more than in a previous operation last month, the bank said on its Web site.
The U.S. economy will slow next year amid continued trouble in the housing market, likely leading to lower interest rates, a senior International Monetary Fund official said Wednesday.
CNBC Europe's Dan Scott reports from the Frankfurt Motor Show and VW's plans to become the world's biggest carmaker.
European Central Bank President Jean-Claude Trichet said Europe's financial system is sound despite the current market correction, but more needs to be done to improve future financial stability.
The U.S. subprime crisis had little impact on the top line of luxury automaker BMW, the company's CEO said Tuesday, but expectations of stricter emission standards are pushing the company to produce more environmentally-friendly cars.
Euro-zone interest rates have further to rise, European Central Bank Governing Council member Axel Weber said on Friday, although other policymakers stressed no move is imminent given uncertainty over the credit crunch.
The eurozone finance ministers' chairman said on Friday French President Nicolas Sarkozy was neither noble nor correct to claim some of the credit for the European Central Bank's decision to keep interest rates on hold.