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
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.
Bob Dudley dismissed suggestions that the Russian deal would impact BP’s ability to meet its obligations in the US or be blocked by US lawmakers.
Less than a month after bailing out Ireland, and after a holiday lull in the markets that may have looked mistakenly like calming, the European Union is again struggling to persuade investors that it has the cash and the will to address the root cause of its travails. The New York Times reports.
Austerity measures put in place by peripheral euro zone countries will eventually bear fruit, but going forward bond investors will have to start getting used to taking losses on their principal, Erik Nielsen, the Chief European Economist at Goldman Sachs, told CNBC Friday.
Greece has become the world's riskiest borrower in the fourth quarter of 2010, surpassing Venezuela, while Spain, Portugal and Ireland were riskier than Iraq.
The global economic recovery may be firmly on track, but Arjuna Mahendran, head of investment strategy for Asia at HSBC Private Bank, recommends that investors safe guard their portfolios against two central risks this year: inflation and the burgeoning government deficits.
On Saturday, Estonia completes its trip from Soviet republic to full-fledged member of the euro zone, reports the New York Times.
As Russia moves to lure foreign investors, some strategists see the Russian bear as the emerging market bull for 2011.
The euro once meant flush banks and easy credit, but these days it has laid bare a cold reality: Portugal shares the high wages and prices of richer northern European neighbors, but not their competitiveness, reports the New York Times.
While the market pullback isn't even in the realm of a correction, worries that Europe's debt crisis could hurt the global economy are weighing on what otherwise could be a robust rally.
Any bailout of Spain could severely stress the ability of Europe’s stronger countries to help the financially weaker ones, and spell deep trouble for the euro. The New York Times reports.
The road into town is a potholed track, passing villages of log cabins and fallow fields that speak to the poverty that has gripped this part of central Russia for as long as anyone can remember. The New York Times reports.
CNBC's Anna Edwards discusses how Ireland can learn a few lessons from Latvia. Eastern Europe throws up some fascinating examples that Dublin might like to study as Ireland battles to keep its fiscal independence, she says.
CNBC went on the road this week to Central and Eastern Europe, a region that a year and a half ago was sending shockwaves through markets as some analysts were predicting its collapse.
The auto navigation device may soon begin to disappear, industry experts say, as satellite-tracking technology is absorbed into smartphones and automobiles. The New York Times reports.
When interest rates soared last week on Irish government bonds, it served as a warning to other indebted nations of how difficult it could be to roll back decades of public sector largess. The New York Times reports.