Germany and the U.K. have a lot of "common ground" and goals for the E.U. says German chancellor, Angela Merkel adding that to reach these goals, some countries will have to do their "homework."» Read More
The Obama administration, increasingly alarmed by the spillover effects of Europe’s financial crisis, has begun an intensive lobbying campaign to persuade Chancellor Angela Merkel of Germany to ramp up efforts to stem any contagion from the debt crisis in Greece, the NYT reports.
The “Mad Money” host lays out his “Game Plan.”
A situation where Greece cannot pay back its public debt can no longer be excluded, European Central Bank Governing Council member Klaas Knot was quoted as saying on Friday.
Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes, with public transport workers, taxi drivers, teachers and air traffic controllers walking off the job Thursday.
The chances of Italy defaulting on its debt repayments are actually smaller than the market is pricing in, according to analysts at Credit Suisse.
The European banking system is the biggest threat to global equities, according to a survey of investors by Barclays Capital.
Germany sold 4.188 billion euros of 10-year government bonds on Wednesday in an auction that attracted greater demand than at a previous sale and sent borrowing costs to a record low in the category.
"The Troika still has a very very tough job ahead of it. We¿ve now had a bit more backing from Germany and that¿s comforting to financial markets, we had a positive reaction yesterday. I think Greece still has to deliver and that¿s where the big problem is," John Hydeskov, senior analyst at Danske Bank told CNBC. "They said when the negotiations broke down last time that they would blame recession for them not being able to live up to the measures to begin with I think this time it will be more difficult to convince the Troika that it is outside factors," he added.
Philipp Roesler, Germany's Economy Minister, told CNBC he believes the controversial extension to the EFSF will be passed through parliament with a clear majority.
Kevin Ferry, TheContrarianCorner.com, discusses how the markets will react to Greece and Italy, and what happens to the markets after the inevitable default.
"On the one hand obviously this is new information but at the same time from a US investor perspective you know that eventually Italy is going to be downgraded you know that there are going to be a whole host of downgrades be seen across the region. So it¿s not entirely new information although it comes only four months into the review," Dan Greenhaus, chief global strategist at BTIG told CNBC.
"The whole issue of peripheral Europe and debt restructuring is a process. It¿s not going to be solved in one big bang and having covered emerging markets for many years this is nothing new," Sailesh Jha, head of Asia market strategy at SEB Bank Singapore told CNBC. "So we¿ll get several different processes taking place and the first one is September 29 and what the German parliament approves in terms of the ESFS facility and I think our core view is that it¿s going to be passed¿.and then we go to the next stage."
Analyzing the state of the economy and what investors can expect next week, with Stephanie Link, The Street, and Aaron Gurwitz, Barclays Wealth Management.
A collapse of Europe's monetary union would likely lead to a breakup of the European Union as a whole, posing significant risks to the region and even raising the possibility of war in the long term, Poland’s Finance Minister told CNBC.
Friday's meeting of euro zone finance ministers in Poland is clearly an event risk for market bears. But already the big idea for solving Europe's debt problem is dead in the water.
The arm-in-arm effort by central bankers to increase U.S. dollar liquidity in Europe is essentially a band-aid solution, and the euro is already backing off its gains.
France, Germany, and other euro zone countries want Greece to remain in the monetary union, "but there will be a price," Christine Lagarde, managing director of the International Monetary Fund (IMF), told CNBC Thursday.
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.
European leaders talk and talk, and hot money cools toward Asia — it's time for your FX Fix.