LONDON, Dec 5- British finance minister George Osborne celebrated a sharp turnaround in the economy as vindication of his push to fix a gaping budget deficit on Thursday but he said he would not relax his austerity grip in the years ahead.» Read More
Just 20 percent of the Greek electorate believe the country should abide by the terms of the European Union/International Monetary Fund loan agreement and pay off all its debts, according to a poll in a Greek newspaper.
The shadow of the Winter of Discontent is looming over the UK again. Increasing unemployment, belt-tightening in the public sector, and a harder line from unions are ringing alarm bells for businesses.
The sight of Dominique Strauss-Kahn, managing director of the International Monetary Fund and prospective candidate for the French presidency, doing the "perp walk" was stupefying. If the charges are true, this capable man is a lunatic. But, unless the case collapses, the event will cast a long shadow, according to the FT.
Earlier today, I had the pleasure of interviewing former Speaker and now House Democratic leader, Nancy Pelosi. We’ve had several interviews down through the years. And while we’ve disagreed on a number of topics, I do have enormous personal respect for her.
As the US is expected to reach the legal limit on its debt later today, Rep. Nancy Pelosi shares her thoughts with CNBC's Larry Kudlow.
Today, European finance ministers are meeting with a heavy and difficult schedule on periphery debt. While the Dominique Strauss-Kahn imbroglio/sex case makes it way through the US judicial system, the European debt situation should not be materially changed in a negative way by the development.
French politicians are up in arms against proposals that would force those benefiting from state aid to do community service hours, which in the country's legal system are part of a list of punishments for those condemned for crimes such as damaging goods, petty theft or insulting the police.
Rates can only go up when we believe the consumer can deal with them and that means when some of the pressures have started to ease.
Decisions by politicians on how to deal with debt on both sides of the Atlantic will be crucial to prevent another Lehman-style crisis, economists and analysts told CNBC in a debate about banking in the European Union and in the US.
Greece will be "unable to avoid a restructuring," Stephen Walsh, chief investment officer at West Asset Management, told CNBC Friday. Walsh manages $456 billion in global fixed income assets.
The world's biggest banks are likely to be hit by capital surcharges that increase progressively based on a lender's size, how connected it is to other banks and how easily it could be replaced in a crisis, global regulators have told the Financial Times.
"Greece is bankrupt" and will have to restructure sooner than later over sovereign debt issues, Kyle Bass, managing partner of Hyman Capital, told CNBC Thursday.
The Bank of England raised its medium-term inflation forecast to just under 2 percent in its May inflation report, potentially paving the way for a November rate rise.
The boss of French banking giant BNP Paribas has told CNBC that he sees no risk of contagion from the problems facing Greece, Portugal and Ireland.
Rumor in the market today is that another 60 billion Euros will be flowing to Greece from the EU or the IMF, or maybe both. It really should come from the IMF in my mind since they are the yahoo's that predicted long term interest costs for Greece would be 5.6% in 2012. While there is always a chance for a miracle, long term Greek bonds are at an almost 16% yield. So if Greece is to get money, it'll have to come from the EU or the IMF.
Europe should help countries that are in trouble but these countries need to show that they are tackling their deficit problems themselves, like Britain has done, UK Chancellor of the Exchequer George Osborne told CNBC in an interview Tuesday.
As far as Europe’s real economy is concerned, the problems on the periphery are just that, peripheral, according to Credit Suisse’s Robert Barrie.
The boss of the French banking giant has told CNBC that the European banking sector could absorb a restructuring of Greek debt, whatever form it took.
Britain isn’t cutting its structural deficit by enough or doing it quickly enough and may need a bailout from its European partners, investor Jim Rogers told CNBC.
Having just spent a week in the US I can confirm Americans and the British share an awful lot in common.