The attention this week on the ability of Apple and other prominent American corporations to avoid corporate taxes through offshore tax arrangements obscures a perhaps more significant development, highlighted by Luxembourg's abrupt retreat from banking secrecy, the NYT reports.» Read More
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.
A look at Ireland's vulnerability to Euro's growing debt crisis, with Marc Chandler, BBH global head of currency strategy, and The Fast Money traders weigh in on trades to place today.
Markets took a tumble on Thursday on fresh worries about the Greek debt crisis and European policy makers were urged to come up with a credible plan to restructure the country's debt.
A new bet has been placed on the the Greek debt crisis. It backs a growing view among investors that Athens may be about to suffer a messy default that could spark a run on the country’s banks and a deeper eurozone crisis, the FT reported.
Stone-throwing Greeks clashed with police and protesters marched on parliament to oppose government efforts to pass new austerity measures for the debt-stricken euro zone state.
It appears that 52 economists have urged the UK government to abandon the public spending cuts associated with its “Plan A” and move to a Plan B, which would involve halting the cuts and…not much else, it would seem, writes Moorad Choudhry.
Ireland's 12.5 percent corporate tax rate is "not negotiable," Finance Minister Michael Noonan told CNBC Tuesday. That's despite costing the nation in higher interest payments under the bailout agreement with the International Monetary Fund and the European Union.
S&P cut its rating on Greece's sovereign debt by three notches. Insight on how this will affect the rest of Europe, with Michael Noonan, finance minister of Ireland.
As European headlines focused their attention on Greece, Spanish debt yields rose steadily in the last few weeks, with the spread versus the German bund now standing at around 250 basis points.
With the Swiss Franc sitting at a record high against the euro one analyst told CNBC.com that it could be time to bet against the safe haven currency.
As Germany and the European Central Bank battle over what to do next on Greek debt restructuring, or lack of it, one economist is predicting the answer could be scrip money, and lots more trouble ahead.
Ever since the financial crisis of 2008 it feels as if markets are never that far away from another bad news story.
The euro zone’s reluctance to consider some kind of restructuring for Greece – and at some point Ireland and Portugal – has been heavily criticized by economists, who believe a default of some kind by one or all three of the troubled economies is now inevitable.