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Portugal's top bankers have called on Europe's leaders to stop "playing with fire" and moderate their stance towards the euro zone periphery, or risk instilling alarm among bank depositors in future, the FT reports.
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Despite denials by the Portuguese Prime Minister Jose Socrates that the country will not be seeking financial aid from the IMF or the European Union, technical discussions are being held ‘quietly’ among European leaders about a possible bailout plan, the Portuguese newspaper Publico reported on its Web site.
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Greek Finance Minister George Papanconstantinou sought to reassure investors over the country’s debt burden on Tuesday, saying spreads between Greek and German bonds were high because of broader market turbulence rather than real threat of default.
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European shares were set to rise on Tuesday, after Wall Street finished off lows, and Alcoa kicked off earnings season by beating forecasts.
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Worries of the european debt crisis was back in the news on Monday as Euro shares dropped sharply ahead of debt auctions this week.
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European sovereign debt is the US stock market's bad penny—it keeps turning up where it's not wanted and at the most inopportune times.
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Dennis Gartman, founder of "The Gartman Letter," said he still expects the euro to split into two currencies.
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Will this be the week that Portugal becomes the latest euro zone country to call in the European Union and the International Monetary Fund to bail it out? The answer to that question will become clear on Wednesday when Lisbon taps the bond market for the first time in 2011.
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Problems in Europe could end up dragging growth in China, hit commodity prices and derail the nascent American recovery, according to Satyajit Das, the author of "Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives".
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European stocks were seen mostly unchanged on Monday, following last week's strong gains, as investors brace for this week's flurry of debt auctions in the euro zone.
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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.
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From Portugal and Spain to the state of housing in the US, here are some notable themes to watch for in 2011.
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The euro zone debt crisis has been playing second fiddle to the US-led rise in global bond yields over the last month. Tax reform led to a sharp rise in US yields and other markets followed, but the ongoing crisis in Europe could again be dominating investor attention, according to Citi Chief Economist Willem Buiter.
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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.
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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.
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European shares were set to pause after a brisk rally this week, with investors reluctant to take large positions ahead of a U.S. job report that will shed more light on the recovery.
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European shares were set to edge higher on Thursday, after Wall Street reversed early losses following upbeat U.S. data on jobs creation and services sector growth.
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China is nowhere near seeing the end of inflation and the amount of monetary tightening it will have to implement will surprise the markets, Arjuna Mahendran, head of investment strategy at HSBC Private Bank told CNBC Wednesday.
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European stocks were seen retreating on Wednesday, losing ground for the first time this year, as heavyweight resource-related shares feel the pinch of a sell-off in commodity prices.
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On Saturday, Estonia completes its trip from Soviet republic to full-fledged member of the euro zone, reports the New York Times.
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January in the northern hemisphere is usually the coldest month of the year and it might prove to be a bitter one for euro zone governments trying to raise money in the capital markets, reports the Financial Times.