"We're fighting on" to get a deal with Greece, the head of the Eurogroup Working Group tells CNBC.» Read More
The United States needs to stop printing money and take on austerity measures like the Europeans did, in order for the economy to recover, renowned investor Jim Rogers told CNBC Monday.
What was obvious at last week's annual meeting of central bankers at Jackson Hole, Wy., was that they aren't certain how to conduct policy now that interest rates are near zero. There also are big differences about what to do when things return to “normal.”
In a global economy that has been plagued by troubles in the world’s financial systems, the words “safe” and “bank” still give investors pause.
While immediate market tensions have mostly passed, the sovereign debt crisis continues to be a challenge in Europe and fiscal consolidation is an important “long-term project,” said Axel Weber, president of the Deutsche Bundesbank.
Ed Balls will on Friday say that a “hurricane is about to hit” Britain’s economy, in the most dramatic warning yet by a Labour politician that the coalition’s plans to cut the deficit risk pitching the country into a double-dip recession. The FT reports.
When the European Union stepped in this spring with a €750 billion ($955 billion) rescue package to back Europe’s weaker economies, the threat of imminent default practically disappeared, the New York Times reports.
Nicolas Sarkozy on Wednesday set out his agenda for France’s forthcoming presidency of the G20 group of leading economies, proposing measures to reduce currency fluctuations, curb commodity speculation and speed up reform of international institutions.
The euro zone’s growth spurt lost momentum this month, as an expansion in output in Germany and France failed to make up for a near standstill elsewhere, the FT reports.
Data this week is expected to show Germany’s economy continues to outperform its peers in the euro zone and the US, but one economist is warning investors not to get carried away.
A big risk for markets is the fact that faith in the US government's ability to fight the economic markets is eroding, Steen Jakobsen, Chief Investment Officer at Litmus Capital Partners told CNBC Friday.
The decline of the Western economic model will bring about hyperinflation and decades of painful readjustment, Egon von Greyerz, founder of gold investment intermediary Goldswitzerland.com told CNBC Thursday.
The central bank reported that it lost 4.2 billion Swiss francs ($4.0 billion) in the second quarter, partly from its bid to check the rise of the Swiss franc against the weakening euro.
The prehistoric monument of Stonehenge stands tall in the British countryside as one of the last remnants of the Neolithic Age. Recently it has also become the latest symbol of another era: the new fiscal austerity. The NYT reports.
Global youth unemployment has hit a record high following the financial crisis and is likely to get worse later this year, the International Labor Organization (ILO) said Thursday.
The flight to safety following the Fed's decision to extend quantitative easing saw the dollar make big gains against the euro and one strategist said the euro's rally may have peaked for now.
The blame for the uncertainty that surrounds Tuesday’s meeting of the Federal Open Market Committee should perhaps be placed on Federal Reserve Chairman Ben Bernanke's leadership style, or lack of it.
If the Fed opts for quantitative easing, it may force the hands of other major central banks to be even more doveish.
The mid-summer rally is over and stocks will begin a downward leg before bottoming in October, as the world economy is in what looks like a Great Depression, Robin Griffiths, a technical strategist at Cazenove Capital, told CNBC Monday.
For weeks, the money market correctly signaled a reduction in worry about the global banking system, continuing to act more like a liquidity market than a credit market ahead of the release of Europe's stress test results a week ago Friday and in its aftermath. If there's one place worries about banks will show up it is in the money market, where inter-bank rates are set.
The governor of the Hungarian Central Bank has it worse than most. Not only has the new government placed the blame on him, among others, for Hungary's stagnant economy, it has slashed his salary by 75 percent. The NYT reports.