But if the stock market finishes this month with another advance, TJM's Jim Iuorio tells CNBC he's ready to throw in the towel on his correction call for now.» Read More
Andrew Lilco at the Telegraph lays out the likely events of what happens in the event of a Greek default.
The Greek people's reaction to the implemented austerity measures should not be ignored, warned Alastair Newton, managing director and senior political analyst at Nomura.
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Past voluntary debt reprofilings in Latin America have worked to varying degrees, but "soft" restructuring is not going to solve Greece's debt problems, according to Stuart Culverhouse, chief economist of frontier markets specialist Exotix
"Notwithstanding the historical parallel, I suspect that it is very unlikely that there will be a QE3. This view is based on an assessment of economic, political and international factors:" Pimco's El-Erian says in a guest blog.
Economic data disappoints, the euro debt deal has doubters, but the Swissie is soaring — time for another FX Fix.
Greece’s finances are out of control. Its bonds are downgraded to junk; and without a German and European Central Bank bailout, it will be forced to restructure its debt. The United States is losing control of its finances too, and bond rating agencies have threatened to downgrade its debt.
Investors should prepare themselves for a third round of quantitative easing, Simon Maughn, co-head of European equities at MF Global, told CNBC Wednesday.
The eurozone, as designed, has failed. It was based on a set of principles that have proved unworkable at the first contact with a financial and fiscal crisis, according to the FT.
Since Europe’s debt crisis became acute last year, the European Central Bank has gone beyond its role as arbiter of monetary policy to become in effect the adult supervision for quarreling heads of government.
The complexity of European politics should prevent any reprofiling of Greek debt this year, according to a political analyst, but markets are still waiting for any sign of a prospective default.
The UK economy is set to experience the slowest pick-up in consumer spending of any post-recession period since 1830, according to a Financial Times analysis of official forecasts.
The euro is gaining and stocks are following the single currency higher, but investors should avoid chasing the risk-on trade according to one analyst.
Following months of talks, Germany now appears ready to drop demands it has made in order to allow Greece to restructure its debt and prevent the government in Athens from running out of cash over the summer.
Investors should buy UK banks now while they are cheap as their share prices will rise significantly over the next two years, a report published by Societe Generale said; but other analysts contradicted this view because of the gloomy economic outlook.
A former chairman of one of Egypt's major banks was arrested Monday on charges of sexually abusing a maid at a Manhattan hotel, just weeks after the arrest of former International Monetary Fund chief Dominique Strauss-Kahn on similar allegations, police said.
Andalusia has the highest unemployment rate among Spain’s 17 regions, 29.7 percent at the end of the first quarter, according to the National Institute of Statistics. That compares with a national jobless rate of 21 percent, double the European Union average.
Cyprus has become the latest victim of the financial crisis in neighboring Greece after its credit rating was downgraded by ratings agency Fitch Tuesday.
Some market players have said Italy will be the next to ask for a bailout but Federico Ghizzoni, chief executive of Italian bank Unicredit, told CNBC that the country is in a totally different situation than Greece.
The Bank of England (BoE) was warned by the British Chambers of Commerce (BCC) on Monday that raising interest rates before November risked damaging the recovery of the UK economy.