Ebrahim Rahbari, director of global economics at Citi Research, who coined the "Grexit" term, asks if the risks of Greece exiting the euro have really receded.» Read More
While the Greek sovereign default saga steadily trundles along its course, contagion is not the only problem European policymakers are going to have to struggle with. The Euro Area recovery is slowing, and fast, writes Edward Hugh, independent economist.
The biggest question in any debt crisis is whether a credible path back to solvency can be found. For Greece, this now seems very unlikely, the Financial Times reports.
The world’s biggest gambling nations include plenty of unlikely candidates. Read on to find out the countries with the biggest losers and the boldest gamblers.
Press reports that the European Banking Authority (EBA) could fail up to 15 European banks as a show of the strength and resilience of the tests are completely unfounded, the EBA’s chairman said on Wednesday.
Dominique Strauss-Kahn's resignation following a sex scandal triggered worldwide discussion about who will get the top position in the Washington-based organization. Click to see the former heads of the IMF.
After a volatile session on Thursday as the International Energy Agency unveiled plans to release strategic reserves in a bid to push oil prices lower, stocks look set for a strong end to the week.
Free-market economics is probably not the most accessible subject in the world. One could say it is something that is not easy to describe or articulate. This is something of a paradox, because at its core it involves a very natural human emotion – that of rational self-interest.
As European leaders meet in Brussels with Greece potentially facing a devastating sovereign default, it is easy to forget that just six months ago it looked as though the European Union was about to turn the corner in its debt crisis, the FT reported.
European leaders arriving for a summit in Brussels on Thursday reinforced calls for Greece to push ahead with austerity measures in return for further financial aid and called on the country to stand united as opposition to the measures grows.
Financial markets should brace themselves for a restructuring of Greek debt in September, Barry Eichengreen, Professor of Economics at the University of California, Berkeley said on Thursday.
Greece’s new finance minister has attempted to renegotiate parts of the austerity deal struck with international lenders last month, drawing anger from his European counterparts as they battle to find a solution to Athens’ debt crisis, reports the FT.
Publicly, executives may say that the Cannes Lions awards for the advertising industry are only part of the appeal of the 2011 Cannes Festival of Creativity, behind the scenes, advertising companies are feeling the pressure to perform.
Albert Einstein is reported to have said that insanity consists of doing the same thing over and over again and expecting different results. By those standards, the deal with Greece that is about to be agreed looks insane. The only justification, as I argued in a column on May 10, is that it is needed to play for time. This is a bad strategy. Something more radical is required, according to the FT.
Tuesday will be the 'longest day' in Europe, John M. Hydeskov, chief analyst at Danske Markets in London, told CNBC Tuesday morning.
For more than two years, we have witnessed the economic demise of several European countries. This soon led to the financial community systematically assessing the health of several peripheral southern European countries, tumbling investment grade ratings and spikes in required rates of return on government debt of these sovereigns. As the European Central Bank continues to dole out rescue packages, many are now looking for the next country to suffer a financial attack and wondering if the euro will even survive, reports the FT.
Trade unions remain a fearsome political and economic force around the world, able to mobilize large numbers of warm bodies to man picket lines and pressure politicians.
The International Monetary Fund has revised its growth forecast for the euro zone to 2 percent, up from 1.6 percent, despite persistent concerns about the peripheral countries.
The world's financial markets should take some of the blame for creating the precarious situation in Greece and the other troubled nations in the euro zone, Deutsche Bank CEO Josef Ackermann told CNBC Friday.
Greece's hasty cabinet reshuffle has failed to boost confidence both domestically and internationally in the ability of the Greeks to help themselves out of the deepening debt crisis, Konstantinos Michalos, president, Athens Chamber of Commerce and Industry, told CNBC Friday.
We have noted in the past how an inability to apply objective analytical thought is a recurring theme in history, usually condemning the unfortunate subject to failure. The weight of history is on us once again, with the slowly changing status of the US dollar as the world’s de facto reserve currency, writes Moorad Choudhry.