Bart Van Ark, chief economist at The Conference Board, says the IMF's remarks about how Greece needs significant debt relief will not help Greek voters to make a decision.» Read More
Turkey gets tough and the Australians go shopping - it's time for your FX Fix.
It would be better if policymakers let a disorderly default of Greece take place and recapitalized banks, an analyst told CNBC Wednesday.
As the Spanish economy fails to drag itself out of the mire created by its debt burden, its Employment Minister Valeriano Gomez admitted to CNBC that it would likely miss growth targets this year.
The euro zone was launched on a wing and a prayer. The wing has fallen off and the deities are not listening to prayers. Everyone focuses on averting a crash. But it is as vital to ask how to fly securely, the FT reports.
The chances of the US being able to help bailout Europe are minimal because of weaknesses in the American economy, influential Citi banker William Rhodes told CNBC Tuesday.
European Central Bank member Christian Noyer said on Monday it is unrealistic to expect an increase in Europe's bailout fund beyond what was agreed in July, but that he is open to schemes that would allow leveraging to expand capacity.
Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.
Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF.
Greece and debt inspectors have apparently agreed that older civil servants near retirement age will bear the brunt of personnel cuts in the public sector, according to media reports.
Stocks closed out their worst quarter since the financial crisis, but it might be too early for investors to breathe a sigh of relief, as volatility will likely continue.
The UK is likely to see more quantitative easing next week or at the latest by November, according to one economic advisor.
Concerns over investment in Central and Eastern Europe have grown as a solution to the problem of sovereign debt in the peripheral euro zone has eluded policymakers and global growth has slowed.
The German Parliament's vote to expand the role of the European Financial Stability Facility has given the markets a "confidence boost," but it is only a short-term fix to Europe's solvency issues, Dino Kos, former N.Y. Fed executive vice president, told CNBC Thursday.
As the sovereign debt crisis worsens, there is still a lack of a long term solution. Current rumors center on Europe extending their ability to bail out periphery economies.However, politics and implementation issues pose a significant challenge.As Greece has shown, so far these bailouts haven’t worked, and with debt burdens rising and problems spreading to the core, the situation is only getting tougher.
The U.K. deputy prime minister said on Thursday that any solution to the euro zone crisis must not lead to some member states dictating terms to other European nations—such as the U.K.—that are outside the currency union.
Economists at Citigroup have again cut their global gross domestic product forecasts for 2011 and 2012 as growth prospects “continue to deteriorate quickly.”
Germany's parliament has approved reforms to the European Financial Stability Facility (EFSF) that would allow the fund to participate in the primary market and to recapitalize European banks in a much-anticipated vote in the Bundestag.
Stocks have rallied in recent days on hopes that European Union leaders and policy-makers are close to an agreement that would significantly increase the firepower of the European Financial Stability Fund (EFSF)-- essentially the euro zone's rescue fund for troubled member states -- so that it can help deal with the zone's long-simmering debt crisis.
Investors worldwide are taking fright at significant downside risks they perceive on both sides of the Atlantic, aided and abetted by what they deem to be ineffectual and directionless policy-making from Western governments.