Europe needs a fiscal and banking union if it is to survive “the worst crisis” since the European Union’s creation, Spanish Prime Minister Mariano Rajoy said in an open letter to leaders on Wednesday.
Europe’s single currency was faulty from the start — and its creators knew it, Roubini Global Economics’ Gina Sanchez, director of equity and asset allocation strategy, told CNBC.
Spain will eventually need a bailout, as its heavy private debt burden is increasingly weighing on sovereign debt levels, Arnab Das, managing director of market research and strategy at Roubini Global Economics, told CNBC.
Euro zone stocks could plummet up to 50 percent if Greece makes a disorderly exit from the euro zone, a research note from Societe Generale said on Friday.
CNN celebrity interviewer Piers Morgan explained at a lunch party years ago how mobile phones can be hacked, UK newsreader Jeremy Paxman told the Leveson Inquiry on Wednesday.
Greece’s best chance of survival may be to stay in the euro but opt for its own parallel currency or “Geuro”, according to Deutsche Bank’s head of research, Thomas Mayer.
JPMorgan’s $2 billion trading loss could lead to “knee-jerk” reactions by regulators, risking regime arbitrage between countries, Barclays co-CEO of investment banking Rich Ricci told CNBC.