There has been "clear improvement" in the economic situation in Europe over the past year, European Central Bank policymaker Ewald Nowotny told CNBC.» Read More
Depending on country of residence, dramatic differences exist in the working lives of citizens from different nations. CNBC.com took a look at several major factors that can significantly affect the quality of work life — average income, income taxes, retirement age, average work week and average vacation days — over 22 select countries around the world.
So, which countries are most exposed to the PIIGS? Click for a country-by-country breakdown.
Moody's slashed Portugal's credit rating by two notches to A1, citing a deterioration of the country's debt ratios and weak growth prospects, the ratings agency said Tuesday.
Investors do not see Portugal's rating downgrade by Moody's as an event that will shake the markets, but it confirms the fact that the outlook for the euro zone is still cloudy.
The National Bank of Greece is confident it will pass the European Union stress tests and is not looking for an increase of capital or a merger at the moment, its chairman told CNBC Wednesday.
Forget about stress tests as a way of gauging the health of Europe's banking sector. Instead you should look to the biggest-spending soccer team, according to Jim O'Neill, chief global economist for Goldman Sachs.
Three European banks have revealed capital-raising plans before the results of stress tests were due to be made public, the FT reports.
Seven of 91 European banks failed stress tests aimed at measuring their strength in case the continent's government debt crisis takes a turn for the worse, regulators said Friday. European Union officials hope the results will reassure markets worried about hidden bank losses from the crisis.