Former ECB president Jean-Claude Trichet, outlines euro zone headwinds and European monetary policy, with CNBC's Rick Santelli.» Read More
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.
Currency intervention gains steam, economic reports lose it - it's time for your FX fix.
The euro is nothing more than an economic mirage because it lacks the essential building blocks of a long-term secure currency, according to Tim Martin, chairman of UK pub restaurant chain JD Wetherspoon.
The boss of the Greek debt office (PDMA) has told CNBC that Friday is not the deadline for the debt swap plan.
Markets Friday will debate the merits of President Obama's $447 billion jobs package and monitor G-7 finance ministers, who meet in France against a backdrop of weaker global growth and fears of financial contagion from Europe.
The Greek tragedy in several acts would appear to be approaching a climactic moment. The warnings coming out of Berlin all week have been hard to ignore: "Greece either puts up or shoves off" would seem to be the blunt message being offered.
The European Union should appoint a new budget tsar with powers to dictate taxes and spending in euro zone countries and who could ultimately adjudicate whether countries should be kicked out of the euro, the Dutch prime minister has argued in the Financial Times.
Markets will be watching three major policy speeches Thursday, including President Obama and Fed Chairman Bernanke, but the speaker that may be most dramatic may be out of Europe.
European shares fell sharply on Monday amid renewed fears over the euro zone debt crisis and a warning from Deutsche Bank’s CEO on the outlook for banks.
The man who ran Germany when the euro began trading has an idea to save the euro zone: the creation of a "United States of Europe."
The Italian government is still wrangling over how best to balance its budget, losing credibility with key leaders and opinion formers.
International Monetary Fund staff have provoked a fierce dispute with eurozone authorities by circulating estimates showing serious damage to European banks’ balance sheets from their holdings of troubled eurozone sovereign debt. the FT reports.
"Inflation fears at the start of the year were always something I was skeptical about and which I always thought were overdone," Bob Parker, senior advisor at Credit Suisse, told CNBC. However, he added he was concerned that inflation could become an issue in 2013.
Some European financial institutions should have taken bigger losses on their Greek government bond holdings in recent results announcements, according to the body that sets their accounting rules in a letter seen by the FT.
With speculation growing that the Fed could pull the trigger on QE3 next month and the ECB buying up bonds in the euro zone, analysts at ING in Amsterdam have been asking if it is possible for a central bank to go bust.
German “bad bank” agencies holding billions of euros of Greek debt have still to decide whether to join a bond swap designed to cut Athens’ refinancing burden as part of an EU bail-out, the FT writes.
In Jackson Hole Wyoming on Saturday Jean-Claude Trichet, the president of the European Central Bank was due to give a speech to a meeting of policy makers hosted by the Federal Reserve. As he prepared to speak the euro zone faced huge problems.
On July 21, EU leaders, the European Central Bank and the International Monetary Fund agreed on a second rescue package for Greece, one they hoped would put the country in a position to come to grips with its debts. That deal is now looking like it could fall apart.
Fed Chairman Ben Bernanke has spoken, and now it's European Central Bank President Jean-Claude Trichet's turn. Here's how to trade the central banker-speak.