The euro zone's strategy of slashing spending to reduce debt in the wake of the credit crisis is "clearly wrong" and is likely to be counterproductive for the region’s economic growth, Nobel prize-winning economist Joseph Stiglitz, told CNBC Thursday.
The European banking sector does not need another round of stress tests because the exposure of large banks to sovereign debt is already public, Société Générale Chairman and CEO Frédéric Oudéa told CNBC Tuesday.
Apple will buy Facebook, Congress will block a third round of quantitative easing and the S&P will reach a new all-time high. These are just some of the outrageous predictions for 2011 put forward by Saxo Bank in its annual "Black Swan Exercise."
Gold is the "elephant in the room" that must be addressed by policymakers, as it's being used as an alternative monetary asset because of unease about the strength of developed economies, Robert Zoellick, president of the World Bank, told CNBC Wednesday.
Rising inflation in emerging markets, coupled with marked increases in commodity prices, could hurt developed economies, as companies struggle to keep input costs down while seeing precious investment dollars heading overseas, analysts told CNBC.