Vitas Vasiliauskas, governor of Lithuania's Central Bank, says that joining the euro zone is the next "logical step" for the country, as it would bring stability and integration.» Read More
As Europe struggles to come to grips with its debt crisis, which has deepened with the collapse of Portugal’s government after it pushed for yet another round of budget cuts, three numbers stand out: 12.4, 9.8 and 7.8, reports the New York Times.
So, which dictators have been in power the longest and how have their economies fared under their rule? Find out!
As Japan’s nuclear crisis intensified Wednesday, governments across Europe remained at odds over whether to scale back nuclear power programs or continue plans to expand, reports the New York Times.
Around the world, people’s relationship with alcohol varies greatly. In some places it is a point of national identity, in others it has become detrimental to a country's overall health.
Russia, which pumps more oil than Saudi Arabia, is reaping a windfall from the steep rise in global energy prices resulting from instability in oil regions of the Middle East and North Africa. The New York Times reports.
Many economists think he should be the next person to run the European Central Bank. But among government leaders in Berlin and Paris, where many of Europe’s most important decisions are made, Mario Draghi, the governor of the Bank of Italy, generates a palpable lack of enthusiasm, reports the New York Times.
The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup.
A new law devised to help Greece crack down on tax cheats is only one of the many efforts Greek authorities have made over the past year to change what has long been a way of life in this country — rampant tax evasion. But so far, to little avail. The New York Times reports.
The Egyptian military defends the country, but it also runs day care centers and beach resorts. Since the ouster last week of President Hosni Mubarak, of course, the military also runs the government. And some say it has already begun taking steps to protect the privileges of its gated economy, reports the New York Times.
Spanish savings banks, which have been ordered to raise more capital by the government, are facing an uphill struggle to persuade investors to help them improve their balance sheets, reports the New York Times.
The French financial markets regulator has begun to require hedge funds and other investment managers to disclose their short positions when they reach 0.5 percent of a company’s outstanding stock, reports the New York Times.
A central banker need not be loved, but at the least he should command respect — and in Britain these days Mervyn King cannot count on either, reports the New York Times.
Employers in many sectors of the German economy are facing labor shortages, under the dual pressures of an aging population and inflation-fighting measures that have kept wages low in comparison with its neighbors. The NYT reports.
As protests continued for a 12th day, Egypt's newly named vice president and other top military leaders were discussing steps to limit President Mubarak’s decision-making authority and possibly remove him from the presidential palace in Cairo, the NYT reports.
When the heads of the EU meet in Brussels on Friday, they will hear new ideas on how to save the euro, delivered by Mrs. Merkel and the French president, Nicolas Sarkozy, but written largely in Berlin, reports the New York Times.
Some accuse the Mubarak government of deliberately fanning class tensions to create demands for the restoration of its brutal security state. But such resentments have built up here for nearly a decade. The NYT reports.
Chief executives, government leaders and academics around the world are headed to Davos, Switzerland, for the World Economic Forum’s annual meeting this week — a heady power gathering that mixes business, politics and Champagne in the Swiss Alps.
At least for this year, the euro zone will remain united and no country is likely to default, analysts told CNBC.com. But debt restructuring is on the horizon for later.
New EFSF bonds are expected to be priced by investors with a yield 70 basis points above the German sovereign bond.
Expanding the EFSF is not the right solution, said Andreas Treichl, the CEO of Erste Bank, the Austrian-based bank focused on lending in Eastern Europe. Treichl added that one way or another, Germany will ultimately end up picking up the bill.