After nearly going bankrupt and almost crashing out of the euro zone last year, Greece expects growth of 0.6 percent in 2014 and hopes to secure more leeway on its debts to the European Union and the International Monetary Fund.» Read More
A number of similarities exist between the collapse of Enron in 2001 and the current sovereign debt crisis in the euro zone, Joe Berardino, CEO at Alvarez & Marsal and the former CEO of Enron's accounting firm, Arthur Andersen, told CNBC.
Federal Reserve assistance to shore up Europe's sagging banks may be good geo-politics but it is bad economics. Only abandoning the euro, not printing money and Teutonic austerity, will fix Europe's banks and economies.
The European Central Bank could take on a greater role in attempts to tackle the debt crisis in the euro zone, conditional on national governments implementing economic reforms, Silvio Peruzzo, European Economist at RBS told CNBC.
International companies are preparing contingency plans for a possible break-up of the euro zone, according to interviews with dozens of multinational executives, the FT reports.
The price of gold is due for a correction and this could be used as an entry point by investors eager to get exposure to the precious metal, while the dollar is likely to strengthen as there has been too much pessimism about it, famous investor Jim Rogers told CNBC Tuesday.
The Eurozone’s policymakers are running behind warnings, and warnings are running behind the crisis. Big Bazooka 2, bailouts, printing money, and Eurobonds are only partial solutions to systemic problems and too little too late.
Market chatter about a European recession is increasing but Christian Noyer, governor of the Bank of France, told CNBC on Monday that despite an expected weak fourth quarter, the French and Italian economies are not as bad as it seems.
The funding hole for European banks is deepening following a sharp fall in bond issuance this year as market turmoil leads to a region-wide credit crunch, the Financial Times reports.
More and more analysts looking at the euro zone predict that another recession is inevitable, as banking sector tensions combined with political wrangling over the debt crisis will depress consumer confidence further.
The euro zone's "garlic belt" states (Greece, Italy, Portugal and Spain) will have to endure deflation to catch up in competitiveness with the other, "butter belt" members, according to a report by research firm Smithers & Co.
The euro zone's formidable couple—Merkozy, as the media calls German Chancellor Angela Merkel and French President Nicolas Sarkozy—were on the brink of divorce more than once.
The euro zone has weapons to tackle the current debt situation, but will need to activate the EFSF with more conviction and larger scale for it to be effective, Sir John Gieve, former deputy governor of the Bank of England, told CNBC.
Investors are increasingly loath to trust the debt of many euro zone sovereigns. That is the most important lesson of recent events. Many European politicians wish to declare war on the markets. They need to remember that they want people to buy their debt, writes Martin Wolf in the FT.
The debt situation on either side of the Atlantic is unlikely to improve for some time, but the United States remains the key engine for growth in the world, albeit hampered by political partisanship, while Europe will continue to suffer because of lack of liquidity in the banking system, Anthony Fry, UK Chairman of Espirito Santo Investment Bank told CNBC.
Billionaire investor George Soros believes the euro zone bond market is facing a similar situation to the banking system in 2008 and wants the European Central Bank to step in to stop a self-fulfilling crisis of confidence.
Ireland is viewed by many on the outside as the best performer from the struggling euro zone peripheral economies, but there are plenty of voices within the country who doubt this can continue.
After Mariano Rajoy's Spanish right-wing Partido Popular unsurprisingly won this weekend's general elections in Spain, CNBC's Stephane Pedrazzi explains the impact this will have on the country's economy.
If a week is a long time in politics, two weeks covering affairs of state in Italy can seem like an eternity. Maybe that's why Rome got its moniker, but having covered the fall of Berlusconi and the rise of Monti's technocrats, there's some relief things moved along quicker than I and investors feared.
Analysts identified five main problems – among them, over-regulation and low productivity – the country needs to tackle to make its economy more competitive.
Groucho Marx once said that money frees you from doing things you dislike. “Since I dislike doing nearly everything, money is handy,” said the Marx Brother.