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Eastern Europe

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  • Banks Push Greek Bailout Plan Friday, 2 Sep 2011 | 9:58 AM ET

    No bank likes to take a loss, especially those in Europe that already suffer from a toxic mix of thin capital, troubled financing and weak loan books. But in the case of the proposed second bailout for Greece — the one that is supposed to make private investors feel the financial pain along with taxpayers — the biggest banks in Europe are on the road now promoting the plan. The NYT reports.

  • 'Leaner and Stronger' Eastern Europe a Buy: Analyst Friday, 2 Sep 2011 | 1:28 AM ET
    A tramway pass in the center of Warsaw on June 8, 2011. Poland and Ukraine will co-host the 2012 European Football Championship.

    In 2008, Eastern Europe was in the throes of a major financial crisis. Burdened with public and private debt, Hungary, Latvia and Romania had to be bailed out by the IMF; they faced severe austerity measures and high unemployment. Fast forward three years and Eastern Europe seems in much better shape, while the West faces the most serious financial challenge since the establishment of the European Union.

  • Eurozone Inflation Stats Suggest End to Rate Hikes Wednesday, 31 Aug 2011 | 7:30 AM ET

    Inflation in the 17 euro countries remained steady at 2.5 percent in August, adding to expectations the European Central Bank will hold off from raising interest rates — and may even consider cutting them — as economic growth slows.

  • CEE Is 'Turbo-Charged Western Europe': Strategist Wednesday, 31 Aug 2011 | 4:08 AM ET
    Poland

    Worries about Western Europe have spilled into countries in Central and Eastern Europe and the region's fate is tightly linked to that of its main exporting market, Wike Groenenberg, head of CEEMEA strategy at Citi, told CNBC on Wednesday.

  • 'Turbo-Charged' Western Europe     Wednesday, 31 Aug 2011 | 3:15 AM ET

    When Western Europe is doing well, Central and Eastern Europe is doing better and things are much worse in CEE when countries in Western Europe struggle, Wike Groenenberg, head of CEEMEA strategy at Citi, told CNBC.

  • Scrap Metal Thieves' Strangest Pursuits Monday, 29 Aug 2011 | 7:49 AM ET
    The turmoil in financial markets over the past three years has seen volatility rising and commodity prices hitting new highs. Across the world, investors have sought to get exposure to all sorts of commodities, fleeing paper money for fear of inflation as central banks loosened monetary policy in desperate attempts to kick-start weak economies.

    Stealing of steel, copper or lead objects for the purpose of selling them as scrap metal increased during the financial crisis. Click to find out more.

  • Putin Sets Sights on Eurasian Economic Union Tuesday, 16 Aug 2011 | 8:20 PM ET
    Russia

    Twenty years after the Soviet Union collapsed, Vladimir Putin, the Russian prime minister, may not, as is sometimes alleged, be trying to recreate it. But he is pursuing a different project – to build a “quasi-European Union” out of former Soviet states. The FT reports.

  • Ben Bernanke

    Market participants now believe the Federal Reserve is more likely than not to resume purchasing assets during the next year in a third round of quantitative easing,  the latest CNBC Fed Survey finds.

  • Rouble Poses Worrying Parallels for Euro Crisis Wednesday, 10 Aug 2011 | 12:27 AM ET

    By intervening in the eurozone’s bond markets, the ECB has become a lender of last resort. In a world characterised by growing financial panic, that has to be good news, HSBC's Stephen King writes in the FT.

  • Recession-themed newsprint cuttings

    Double dip may be back. It has been three decades since the United States suffered a recession that followed on the heels of the previous one. But it could be happening again, the New York Times reports.

  • Deutsche Telekom Confident AT&T Deal Will Get OK Thursday, 4 Aug 2011 | 7:04 AM ET

    Deutsche Telekom's CEO Rene Obermann is confident that the sale of its US unit T-Mobile USA to AT&T will get regulatory approval, he told CNBC Thursday.

  • Europe’s Troubled Economies Join the Rescue Team Monday, 25 Jul 2011 | 10:29 AM ET
    Protestors escape tear gas fired by policemen in Athens.

    Can a bailout fund whose backers include some of the countries it may be called upon to bail out really succeed? The NYT reports.

  • Europe Approves Bailout Plan For Greece, Other Nations Thursday, 21 Jul 2011 | 4:03 PM ET
    Greece

    European leaders on Thursday clinched a new rescue plan for Greece that could push the country into default on some debt but would also give Europe’s bailout fund new powers to aid struggling economies, the NY TImes reports

  • Scrap Metal Thieves May Have Stolen Warhead Parts Sunday, 17 Jul 2011 | 7:17 AM ET

    A train transporting defense gear from Romania to Bulgaria was broken into and military equipment went missing, Romanian military prosecutors said in a statement on Sunday.

  • UK Police, Murdoch Empire Tangled in Hacking Case Saturday, 16 Jul 2011 | 3:10 PM ET
    Rupert Murdoch, Chairman and CEO of News Corporation

    At best, former Scotland Yard senior officers acknowledged in interviews, the police have been lazy, incompetent and too cozy with the people they should have regarded as suspects.  The New York Times reports.

  • Distressed Debt Deals Set to Follow Stress Tests Friday, 15 Jul 2011 | 4:07 AM ET

    Bankers believe that an additional disclosure requirement, relating to previously unpublished details of banks’ credit exposures, could trigger approaches for credit portfolios from specialist buyers. The FT reports.

  • The price of corn is the latest of a series of signals that remind investors about 2008, the year the financial crisis spread across the globe and Lehman Brothers collapsed, Simon Derrick, chief currency strategist at Bank of New York Mellon, wrote in a note Monday.

  • Strauss-Kahn Accuser’s Call Alarmed Prosecutors Saturday, 2 Jul 2011 | 10:28 AM ET
    ZURICH, SWITZERLAND - MAY 10: International Monetary Fund Managing Director Dominique Strauss-Kahn leaves the Second Annual Conference of International Monetary Fund held at the Baur au Lac Hotel on May 10, 2011 in Zurich, Switzerland. The conference hosted by the Swiss National Bank (SNB) and the International Monetary Fund (IMF), brought together central bank governors and senior policymakers, to debat about the reform of the international monetary system with topics such as global liquidity p

    Little by little, the woman's credibility as a witness crumbled — she had lied about her immigration, about being gang raped in Guinea, about her experiences in her homeland and about her finances, officials told the NY Times.

  • Strauss-Kahn Case Seen in Jeopardy Friday, 1 Jul 2011 | 9:59 AM ET
    ZURICH, SWITZERLAND - MAY 10: International Monetary Fund Managing Director Dominique Strauss-Kahn leaves the Second Annual Conference of International Monetary Fund held at the Baur au Lac Hotel on May 10, 2011 in Zurich, Switzerland. The conference hosted by the Swiss National Bank (SNB) and the International Monetary Fund (IMF), brought together central bank governors and senior policymakers, to debat about the reform of the international monetary system with topics such as global liquidity p

    The sexual assault case against Dominique Strauss-Kahn is on the verge of collapse as investigators have uncovered major holes in the credibility of the housekeeper who charged that he attacked her in his Manhattan hotel suite in May, according to two well-placed law enforcement officials. The NYT reports.

  • Fall in EU Exports Could Impact 4 Asian Economies: RBS Tuesday, 28 Jun 2011 | 7:29 PM ET
    Vietnamese worker uses sewing machine at garment factory, Hanoi, Vietnam.

    Asian economies are not protected from Europe’s debt problems given their strong trade links, even though they have high savings and relatively strong financial systems, RBS wrote in a recent report.