Squawk Box (Europe)

Eva Kaili, MP for the PASOK party, told CNBC, "I do believe there are important issues on the table, so I think negotiations are in process so it is not just a delay, we are looking for a new policy now and I do think that the leaders have to do their best because they also have to pass it through the parliament and convince people that this is the right recipe this time."

Graham Neilson, chief investment strategist at Cairn Capital, told CNBC, "what is happening in the markets now is quite familiar it looks a little bit like certain circumstances of 2010, early 09, early 11, before the end of the year we will definitely have more vulnerability growing up, for sure."

Chris Zwermann, global strategist at Zwermann Financial, joined CNBC for a technical look at the Euro/US dollar, Euro/Japanese Yen and the DAX index.

Jack Scannell, research analyst at Sanford C. Bernstein, told CNBC, "if you are a macro bull you wouldn't want to earn drug stocks, if you are a macro bear you would. The second half of 2011 was a very good time for drug stocks, not because the fundamentals of the pharmaceutical sector were getting better, but because they bottomed out, expectations were low, dividends yields were 4 to 5 percent and medium term earnings were highly predictable.

Colin Hamilton, senior commodities analyst at Macquarie Group, told CNBC, "the fourth quarter really saw Chinese demand for many commodities pull back substantially, we saw steel production go back from 700 million tons annually to 600, so there was a certain amount of concern about how that Chinese landing would occur and that was weighing on commodity markets."

Mike Mack, CEO of Syngenta, told CNBC, "it was a great year overall and the second half was particularly strong, we had some good value growth, driven increasingly so in Latin America and we announced some price increases at the end of the first half."

Ashok Shah, CIO of London and Capital, told CNBC, "the system is really getting flooded with liquidity, the cost of liquidity has actually collapsed to very low levels, those who need the liquidity the most don't need to go to the market anymore, the European banking system now can simply borrow as much as it wants from the ECB."

Andreas Neubauer, MD, head of equity research at Deutsche Bank, told CNBC, "the forecast this year for the DAX for the end of the year is 6600, so that is slightly below the current trading arm and the main reason why we are a little more sceptical then others on the DAX is that we saw Q4 numbers, kicking in below expectations"

Jane Coffey, senior fund manager and head of equities at Royal London Asset Management, told CNBC, "I think the Xstrata deal was very much inline with the sort of ratios that have been talked about over the last five or six days, we would have preferred the deal to have been done later when Xstrata had the better production profile out."