It is "not normal" that both sides of the Atlantic do not have the same set of rules, says Jean-Claude Trichet, former ECB president, commenting on the BNP Paribas fine.» Read More
Should we feel confident that the crisis will soon be over? No. At least, nobody now sees the euro zone crisis as a little local difficulty. It has become the epicenter of an aftershock of the global financial crisis that could prove even more destructive than the initial earthquake, writes Martin Wolf in the FT.
European authorities plan to set a higher than expected capital threshold for the region’s banks and give them six to nine months to achieve that level or face government recapitalisations under the auspices of the eurozone’s 440 billion euro rescue fund, senior regulators said. The FT reports.
British data confuses, Trichet talks tough, and Dr. Doom is gloomy again - it's time for your FX Fix.
The crisis plaguing the euro zone has reached a "systemic dimension", outgoing European Central Bank President Jean Claude Trichet said on Tuesday, warning that the risk of economic shocks spreading further across the financial sector has increased.
Jean-Claude Trichet defended his run as European Central Bank president in an interview with CNBC on Thursday, saying the bank had delivered its key objective of price stability and that the euro was here to stay.
ECB chief Jean-Claude Trichet talks to CNBC about what needs to be done in Europe and his legacy with the European Central Bank.
The European Central Bank (ECB) was urged to slash the euro zone base rate to one percent as the European debt crisis threatened a second recession but high inflation makes such a move unlikely.
A positive feedback loop between banks and weak sovereigns is emerging, with a potentially calamitous effect on the euro zone and the global economy, Martin Wolf writes in the FT.
The “Mad Money” host lays out his “Game Plan.”
The European Central Bank was buying Italian and Spanish government bonds in the markets on Thursday, traders told CNBC.
The European banking system is the biggest threat to global equities, according to a survey of investors by Barclays Capital.
Euro leaders squabble and the Russian ruble is rocked - it's time for your Friday FX Fix.
Europe's debt crisis has worsened and the world economy has entered into a dangerous new zone, says Christine LaGarde, IMF managing director. CNBC's Maria Bartiromo asks LaGarde why she is focusing on short-term measures.
Has recent decline in the stock market due to news in Europe run its course? Sharing perspectives, with John Morris, Crestwood Advisors managing partner and Gene Peroni, Advisors Asset Management senior vice president.
Greece needs a collective effort by itself, the International Monetary Fund (IMF) and the rest of the euro zone members to resolve the crisis, according to Zhu Min, Deputy Managing Director, who spoke to CNBC from the summer meeting of the World Economic Forum in Dalian, China.
CNBC's Michelle Caruso-Cabrera has the update on riots in Italy ensuing as a final austerity package has been aprroved.
As the euro zone enters the most dangerous phase of its debt crisis, bailout patience is eroding in the fiscally responsible tier of the zone. While Brussels wonders whether the Finns have become Euro-skeptic, the reality is the reverse. Europeans are turning into Finns.
Angel Gurria, secretary-general of the Organisation for Economic Co-Operation and Development, issued a strong defense of the euro over the weekend.
It has been another dramatic weekend in the euro zone. On Friday, Germany’s representative on the European Central Bank's governing council, Juergen Stark, resigned in protest at the bank's decision to buy Italian and Spanish bonds. He will be replaced by German deputy finance minister Joerg Asmussen.
Greece is unable to repay its debts, according to Richard Bove, banking analyst at Rochdale Securities, and given that the euro zone banking system has yet to mark sovereign debt holdings to market, many banks will be forced to raise new capital.