Greece's Prime Minister Alexis Tsipras said he hopes to strike a deal with lenders by May 9, to allow the European Central Bank to help the country.» Read More
The European Central Bank has bought €16.5bn of euro zone government bonds as part of international rescue plan, amid widespread investor concern that the intervention is not yet big enough to stabilize debt markets.
Call it the eurozone two-step. That’s what the euro nations in distress will be asked to dance on Tuesday as their ministers present their recovery plans to the body of 16 eurozone finance ministers engaged in an emergency meeting in Brussels.
Using those rates and the latest euro close of $1.236 on May 14, we can see how those currencies would trade against the greenback.
A new government is formed in Europe and problems ensue. They check the books from the outgoing administration and discover things are worse than they knew. If this sounds familiar, it should as this is what happened in Greece. It is now occurring in the United Kingdom.
If I had a "bucket list" to put together I would have the beaches at Normandy as number one. Greece and Turkey would be on the list as well. Never would I have thought of walking down the Red Carpet at the Cannes Film Festival (Or is it walking up the Red Carpet?).
As the euro plunges to a four-year low against the dollar and respected economists like Paul Volker wonder out loud if the currency will survive, reflection is necessary to determine why this once prestigious currency appears to be crashing on the rocks of uncertainty.
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After a brief respite following the announcement last week of a nearly $1 trillion bailout plan for Europe, fear in the financial markets is building again, this time over worries that the Continent’s biggest banks face strains that will hobble European economies, the New York Times reported.
The European Cental Bank's bailout package is just a $1 trillion fig leaf covering the problem and a better move would have been to arrange for Greece and Portugal to leave the European Union.
Any assumption that the financial crisis is behind us is way off the mark, as the European Union is just shifting debt obligatoins between the public and private sector and not dealing with the undelying problem.
Although financial conditions in the United States have improved since the 2008 crisis, events in Europe show their fragile underside, a Federal Reserve official said Thursday.
Carthaginian peace refers to the imposition of a very brutal “peace,” or the armistice imposed on Carthage by Rome that saw the Romans systematically burn Carthage to the ground.
Amid fears over the strength of nearly every major currency, Abu Dhabi’s top hotel has come up with a new type of ATM for their most risk-averse guests. The Emirates Palace is giving those staying there to chance to withdraw gold from the world first ever gold dispenser.
Despite a fully-fledged debt crisis in Europe, the stock market continues to defy the bears to trade higher on the year.
The European Central Bank's decision to buy government bonds in the secondary markets will likely stop speculators, but it may push the euro down by more than 10 percent.
Much of the demand for the precious metal is reportedly coming from Germany, where the memory of hyperinflation continues to significantly influence thinking.
The Queen was made to hang around for 5 days this week while her elected representatives attempted to form Britain’s next government.
The only thing missing from the weekend’s $1 trillion rescue package for Europe is a good acronym, Timothy Scala, a macro strategist at hedge fund Sophis Investments told CNBC.com Wednesday.
Plus, the Mad Money host reacts to rising gold prices.
Last week’s sharp drops and heightened volatility were due in part to the severe debt crisis in Greece and, more specifically, growing fears that other European nations are at risk — especially Spain, Portugal, Italy and Ireland.