Part of the company that owns Banco Espirito Santo has applied for creditor protection, meanwhile analysts weigh up chances of a bailout.» Read More
The tide is turning in Europe. Austerity, long seen as the most appropriate medicine for the continent's debt-wracked economies, is fast losing favor.
German opposition leader Peer Steinbrueck has warned Europe could see a repeat of the Cyprus crisis even as the bailout costs for the island nation have ballooned, adding that Cyprus must foot the added costs.
John Longworth, director general of the British Chamber of Commerce, tells CNBC which powers British businesses would like repatriated back to Westminster from Europe.
Bob Parker, senior advisor at Credit Suisse, tells CNBC that in the very long-term Cyprus will be able to find the money for its share of its bailout deal.
Creditors of the European arm of Lehman Brothers, which collapsed in September 2008, may be repaid in full, administrators said.
Luis de Guindos, Spain's finance minister, tells CNBC's Julia Chatterley that it is misleading to say that the reduction of the fiscal deficit is anti-growth.
Peer Steinbruck, chancellor candidate for the Social Democrat Party, tells CNBC that there is excessive austerity in countries like Greece and Portugal.
As recently as the early 1990s, the idea that Sweden could be a model of anything except socialism gone awry would have been laughable. But economic reforms and market liberalization have lit a fire under the economy.
Anders Borg, the Swedish finance minister, tells CNBC what progress has been made so far on a European banking union.
Cyprus will relax requirements for citizenship, including for bank depositors who lost large amounts of money in the deal with the EU and IMF, the president said on Sunday.
Mikio Kumada, Executive Director & Global Strategist at LGT Capital Partners thinks Europe offers more attractive opportunities compared to emerging markets and Asia.
Nearly one-fifth of British businesses favor complete withdrawal from the European Union, a new survey has found.
One of France's most notorious criminals escaped from prison using explosives to blast his way through five security doors.
The new finance minister of Cyprus has told CNBC his country is in for a "rough ride" following the bailout agreement for his country.
European shares closed down on Friday after the release of retail sales data in the U.S. which showed a fall in March consumer spending.
Dirk Schoenmaker, dean of the Duisenberg School of Finance, tells CNBC that European banks are weak and need to be recapitalized in order to kick-start the recovery.
CNBC's Simon Hobbs reports on what moved Friday's markets. European shares extended losses after data in the U.S. showed a drop in March consumer spending.
European shares extended their losses on Friday with the release of retail sales data in the U.S. which showed a fall in March consumer spending.
Anders Borg, Sweden's finance minister, tells CNBC that its difficult to assess the bailout costs for Cyprus and these costs could rise.
European Union finance ministers agreed on Friday to extend the maturities of emergency loans extended to Ireland and Portugal by the European Union by seven years.
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Tim Graf, head of macro strategy for Europe at State Street Global Markets, says that global confidence, while still high, is deteriorating.
The underlying problems in Europe's southern economies have not been solved, says Hans-Werner Sinn, president at the Ifo Institute. He also criticizes the ECB potential use of quantitative easing.
Nik Stanojevic, equity analyst at Brewin Dolphin, says Iliad's bid to take over T-Mobile U.S. is surprising and that the price is below the U.S. provider's value.