Greek voters are torn on taking the bailout, with the 'yes' camp only marginally outweighing the 'no' voters, a poll showed.» Read More
Is the real threat of the European debt crisis being underreported in the US?
The euro is likely to lose some of its strength over the short term, but if Ireland asks for bailout funding and establishes a clear mechanism of how it will work, some nerves in the markets will be settled, Richard Yetsenga, global head of emerging-markets currency strategy at HSBC told CNBC Monday.
President Barack Obama will have to work together with the Republicans to ensure the US economy grows so that the country can avoid a Greece-like scenario, Rep. Paul Ryan, Budget Committee Ranking Member, told CNBC Monday.
Greece expects the budget deficit in 2010 will be larger than initially targeted after the EU's statistics agency said Monday the country's debt last year was actually much higher than projected.
The European Central Bank’s reluctance to consider further monetary easing exacerbates the problems the euro zone is currently facing, economist Nouriel Roubini told CNBC Thursday.
Patrick Honohan, Ireland’s central bank governor, on Wednesday put a “For Sale” sign over the country’s ailing banks, stressing that foreign ownership of the troubled sector was “not as far-fetched a scenario as it might appear to some”, reports the Financial Times.
The United States should tax purchases of yen, yuan and euro used to import goods from those three economies. Set it at about 40 percent until the Gang of Three agrees to acceptable exchange rate reforms.
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.
If the US government doesn’t act soon to reduce the deficit and debt, it will become like Greece in a few years, Sen. Judd Gregg, (R-N.H.), told CNBC Wednesday.
Covered bonds, a financing tool that has been popular in Europe since the 18th century, are winning converts here as a new way to finance residential and commercial mortgages, reports the New York Times.
Europe’s financial crisis this year has created buying opportunities for cash-rich investors, including secretive hedge funds and Qatar, the natural gas giant of the Persian Gulf that recently agreed to invest $5 billion in Greece. But China is leading the charge. NYT reports.
The times when developed economies grew at high rates are behind us and the next crisis will hit when people realize this, Satyajit Das, author of Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives told CNBC Tuesday.
Some EU countries face the prospect of missing the budget deficit targets forced upon them this year by impatient bond investors, as tax revenue missed projections. The New York Times reports.
The European Central Bank should worry less about the “phantom risk” of inflation and instead focus on the rising threat of deflation which could result from a currency war, economist Nouriel Roubini said in an article for Roubini Global Economics clients.
The UK government unveiled a severe five-year austerity plan this week, which included sharp cuts to public sector jobs and benefits. The plan, though widely expected, divided opinion with some commentators claiming it put the country's recovery at risk.
Fast-growing nations like Thailand are trying to devalue their exchange rates to bolster their export-driven economies, reports the New York Times.
Despite the euro zone's recovery still looking very fragile, the central bank's key playmakers seem determined to talk about pushing policy back onto a more "normal" footing.
As the government of Prime Minster George Papandreou struggles to get the nation’s financial house in order — reducing the size of its bloated civil service, chasing after tax evaders and overhauling its pension system — it has also begun to tackle a much less talked about problem: the cozy system of “closed professions” that has existed here for decades, costing the economy billions of dollars a year.
Riot police clashed with protesting workers barricading the ancient Acropolis on Thursday, using tear gas to clear the demonstrators from the entrance to Greece's most famous ancient site.
A combination of better data than expected, China’s pledge to buy the country’s bonds and hopes that international bail-out loans will be extended have boosted investor sentiment. The Financial Times reports.