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.» Read More
This year’s rescue plans for Greece and the euro zone were driven partly by rising US anxiety about the risks to global financial stability stemming from Europe’s slowness to take action. The FT reports.
Investors in euro zone bond markets stand accused of letting “animal spirits” affect their judgment on the risk of a European debt default. The FT reports.
Despite mounting public protests across the Continent, an austerity drive unparalleled in modern, united Europe is building, reports the New York Times.
Europe faces an important challenge in creating greater awareness of the importance of a stable currency, but to achieve that goal, its citizens will need to grow more attached to the euro, Otmar Issing, former European Central Bank chief economist, told CNBC.
Every week without fail Lucy Elkin, a comfortably middle-class mother of two small children, receives a £33.20 child benefit payment, or about $52, from the debt-plagued British government, reports the New York Times.
The question whether the single European currency will survive the current crisis is "silly", Otmar Issing, president of the Center for Financial Studies and a former ECB board member told CNBC.
Demand may be strong for bonds issued by periphery euro-zone countries but those countries must restructure their debt at some point because yields are unsustainably high, two economists told CNBC Wednesday.
In two weeks, Alexandra Mallosi, 29, will be packing her bags and leaving the quiet Athens suburb of Holargos for Abu Dhabi to start a job as a hotel sales manager. It was not a tough decision, reports the New York Times.
For years, Anissa Benchamacha bought her meat in a parking lot, from vendors hawking near-expired products to Muslims eager to find food that met their religious requirements.
Stocks closed modestly higher Wednesday but off the session's highs as investors continued to show wariness about the health of the U.S. economy. JP Morgan and AIG rose, HP and Intel fell.
Stocks trimmed gains but remained higher Wednesday after the government released data on consumer credit and investors learned the economy is growing but at a slower rate nationwide. Alcoa and AIG rose, HP fell.
Stocks rose Wednesday ahead of news on the U.S. economy to be released Wednesday from the Federal Reserve. Alcoa rose, HP and Intel fell.
Stock futures futures turned higher following Europe as fears of a renewed sovereign debt crisis eased somewhat and as investors wait for news on the state of the U.S. economy from the Federal Reserve.
When the European Union stepped in this spring with a €750 billion ($955 billion) rescue package to back Europe’s weaker economies, the threat of imminent default practically disappeared, the New York Times reports.
The prehistoric monument of Stonehenge stands tall in the British countryside as one of the last remnants of the Neolithic Age. Recently it has also become the latest symbol of another era: the new fiscal austerity. The NYT reports.
The governor of the Hungarian Central Bank has it worse than most. Not only has the new government placed the blame on him, among others, for Hungary's stagnant economy, it has slashed his salary by 75 percent. The NYT reports.
A week after the authorities released results of stress tests on the largest European banks, market data is starting to provide an indication of whether the exercise had the desired effect on confidence. The answer: sort of. The NYT explains.
Portugal has become the first euro-zone country to agree to set aside cash – or other assets – against derivative transactions in a decision intended to reduce its funding costs.
The pan-European stress tests on the banking sector were not tough enough to reflect future worsening conditions for the continent's economy, Nouriel Roubini told CNBC.com.
"There are more problems coming in the currency markets, pension funds, US states and cities, etc. None of this was considered although the latter is only indirect for the European banks," the famous investor told CNBC.com.