The Financial Stability Board said work should also start on Libor alternatives, such as so-called "nearly risk-free reference rates."» Read More
"They have internal resistance in China to putting any bailout money in Europe. Obviously China wants to play on the international stage more and get involved in the IMF eventually. So I think it very likely there will be some help eventually, maybe into the IMF," Philip Chan, director of institutional equity strategy at Shenyin Wanguo, told CNBC.
The CNBC's business news team, reports on the latest developments in Greece, the G20 meeting in France, and their impact on the markets.
CNBC's Stephen Sedgwick reports the latest details on the G20 Summit in Cannes, and Greece and the European economy.
Greece and the European economy are dominating the conversation at the G20 summit. NBC's Chuck Todd has the details.
The European council of heads of states have met 7 times this year and still have another meeting in the diary. Europe’s finance ministers have met 11 times and plan two more before the year is out.
David Cameron has urged colleagues to stop talking down the economy as he tries to drown out a growing chorus of doomsayers with a resolutely upbeat assessment of the nation’s prospects, in an article for the FT.
Angela Merkel and Wolfgang Schaeuble sure know how to ruin a party. A euro party, that is.
The risk of European recession still lingers over the continent, but euro zone policymakers are likely to introduce a package this month that's comprehensive enough to head off that scenario, according to an official at the International Monetary Fund.
Euro zone leaders are expected to come up with a substantive plan to solve the area’s crippling debt crisis by the time of the G20 leaders summit in Cannes on Nov. 3. At the back of every investor’s mind is the thought that we could be setting ourselves up for a big fall.
The finance chiefs of the world's leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone's escalating debt troubles.
While finance ministers and central bankers at the G20 meeting in Paris desperately seek a solution to Europe's debt crisis, a separate debate has broken out over the IMF's role in any rescue package.
Emerging market countries are working on ways to contribute money rapidly to expand the effective firepower of the International Monetary Fund, with the aim of increasing its role in combating the eurozone sovereign debt crisis. The FT reports.
Spain's debt rating is cut, the G20 is all about Europe, but the sun in shining in Singapore — it's time for your FX Fix.
Discord over the euro zone crisis, currencies and global economic governance threatens to overshadow the Group of 20 finance ministers meeting in Paris on Friday and Saturday, the FT reports.
G20 finance ministers will meet in Paris at the end of the week to put the finishing touches on the economic reform agenda, prior to the November summit. In addition, the EFSF is set to get the final rubber stamp when Slovakia's parliament votes on the fund. Sarah Hewin, head of European research at Standard Chartered Bank, and Patrick Armstrong, managing partner at Armstrong Investment Managers, joined CNBC to discuss.
As the sovereign debt crisis is hits Europe and the idea of a double dip recession is starting to spread all over the world, G20 labor ministers gathered in Paris on Tuesday said job creation, particularly by small enterprises, was crucial in overcoming the financial crisis and warned that austerity measures needed to be balanced with the creation of jobs.
"Unemployment is the human face of the crisis," Angel Gurria, Secretary General of the OECD, told CNBC, speaking at the G20 conference in Paris.
Even the Gulf countries were not spared by the European and U.S. debt crisis. With unemployment figures estimated as high as 12 percent, the United Arab Emirates has lots of gaps to fill, Saqr Ghobash, the minister of labor for the UAE, told CNBC.com Tuesday.
Risk is back on the table after a terrible end to last week for the bulls. Following news of "Operation Twist" from the Federal Reserve, the market sold off aggressively, adding the pressure on policy makers as they met in Washington over the weekend to try and find a plan to avert a euro zone sovereign debt and banking crisis.
The leaders of six members of the G20 group of world economic powers issued a joint open letter to the French president Nicolas Sarkozy on Thursday, calling for decisive action to be taken over the eurozone debt crisis.