European Closing Bell

Neil Atkinson, director of energy research & analysis at Datamonitor, told CNBC, "The negotiations have started quite promisingly, Iran doesn't seem to be adopting a belligerent stand so far, so I think we might mind a rather more sensible ending than we might have feared which in turn will lead to the crude oil price being lower."

"People are fleeing to bonds as if there is a safe haven there. But if the currencies are all debased in an effort to prevent collapse or default, the big losers are the bondholders," Peter Schiff, chief executive of Euro Pacific Capital, told CNBC.

"Without a fiscal union and fiscal co-ordination you will not be able to see a functioning monetary union in the Euro Zone," said Matteo Cominetta, European economist at UBS.

"It's out strong preference that Greece stays in the euro zone". We are working on plan A," Joerg Asmussen, member of the Executive Board of the ECB, told TVN/CNBC.

David Owen, chief European economist at Jefferies International, told CNBC that issuing Eurobonds would be the "end game" in resolving market uncertainty over the future of Europe.

Michael Gayed, chief investment strategist at Pension Partners, told CNBC, "What has concerned me very significantly is something that happened last week, when you look at junk debt prices have collapsed relative to nominal US treasuries, the spread has blown out signifying something akin to a credit event was likely underway."

Riccardo Ronco, technical analyst at Aviate Global joined CNBC for a technical look at the S&P 500 index, EUR/Dollar and the US 2/10 Year Yield Curve VS. Nikkei 225.

Anthony Skinner, director and head of MENA, Maplecroft, told CNBC, "There are six primary candidates that we need to look at very closely, if we look at former members of the Mubarak regime we have Amr Moussa he is very prominent and has done very well in the polls and he is trying to distance himself from the former regime."

Paul Bednarczyk, head of research at 4Cast, told CNBC, "If we have an election next month where Greece says we are not going to do austerity we could see the euro going down very quickly, if Greece is pushed out of the euro zone the euro could go down to 1.15 by next month."

Andy Palmer, executive vice president of Nissan, told CNBC, "Nissan has been investing in Spain for a long time and obviously you create a certain skill base and here that is particularly relevant here for light commercial vehicles (LCVs)"

Matthew Lynn, founder of strategy economics, told CNBC, "Everyone is expecting it, really catastrophic things that happens to the market are kind of black swans but there is no way a euro collapse is any kind of unexpected event at the moment, what else has anyone been talking about on this channel for the last couple of years."

Mark McMullen, executive director, Stonehage, told CNBC, "We look after the families that move from generation to generation, we are in the third generation of some of our families so the view is not short-term whatsoever."

Daniel Stillhart, portfolio manager and technical analyst at Frankfurter Bankgesellschaft Zurich, joined CNBC for a technical look at the Comex Gold Future, Comex Silver Future and the NYMEX Platinum Future.

David Nowakowski, director of fixed income strategy at Roubini Global Economics, told CNBC, "There are really three crises going on at the moment, the fiscal crisis is just one of them and Trichet's plan to declare certain states bankrupt tries to deal with that, but there is also the balance of payment crisis and the banking crisis that need to be dealt with as well."

Charlie Parker, Investment Editor, Citywire, told CNBC, "The ECB has provided hundreds of billions of euros it will probably provide hundreds of billions more, but the problem is this is all crisis management, you take the scaffolding down and you see nations with massive competitiveness problems."

Megan Greene, senior research analyst at Roubini Global Economics, told CNBC, "I think Germany will stick to its point that Eurobonds will happen at the end of a long process which involves first political union, and we see how well that is going, and then the pooling of assets and finally at the very end the pooling of liabilities."

Max Knudsen chief market strategist at ADS Securities Abu Dhabi, joined CNBC for a technical look at the Euro/Dollar, Sterling/Dollar and the Dollar/Yen.

Rodrigo Olivares-Caminal, Professor of Law in the Centre for Commercial Law Studies at Queen Mary University, told CNBC, "We need to do whatever is in our reach to avoid an exit of Greece; the difficult question is whether Greece wants to be in the EU? They want to stay in the EU but not having to pay for a bailout."

The recent sell-off in gold is unlikely to continue in the longer term, with the precious metal set to hit $1,900 an ounce towards the end of the year, Walter De Wet, head of commodities at Standard Bank, told CNBC.

Julian Callow chief European economist at Barclays, told CNBC, "Recession in the euro zone seems to have been narrowly avoided so far thanks to the strength of the German economy in the first quarter and there is an underlying resilience there particularly for Germany despite the fact that the weather was very cold in the first quarter."