LONDON — Greece once again appears on the verge of reaching a deal with its private-sector creditors on how much of a loss they would be willing to accept on their bond holdings.
The latest progress comes in the wake of two days of talks in Athens between Charles Dallara of the Institute of International Finance, the bankers lobby representing most investors and Greece’s political leadership.
Even as Greece tries to convince creditors that its debt-reduction efforts are on track, gloomy new International Monetary Fund forecasts about its long-term economy are threatening to derail talks meant to secure the nation’s next big installment of bailout funds.
Once again, the World Economic Forum's lineup of keynote speakers was extremely impressive. Let's be frank, what other forum in the world—especially in such an inconvenient and remote location—actually manages to attract not just German Chancellor Angela Merkel and UK Prime Minister David Cameron, but also policy heavyweights Mario Draghi from the European Central Bank and Timothy Geithner from the US Treasury Department in the space of only three days? Well, very few.
But browsing through the session and attendees lists, I couldn't shake off the thought that some of the key people are actually missing this year. No, I'm not talking Bono and Angelina Jolie.
This is a live blog from "The Future of the Eurozone," an event at the World Economic Forum in Davos, Switzerland, in which our panelists will debate the question, "How will the Eurozone economies emerge from the euro crisis?"
The event's panelists include:
Francois Baroin, minister of economy, finance and industry of France; Luis de Guindos Jurado, minister of economic affairs and competitiveness of Spain; Olli Rehn, vice president, economic and monetary affairs, European Commission, Brussels; Wolfgang Schauble, federal minister of finance of Germany.
The Future of the Eurozone is chaired by Maria Bartiromo, anchor of CNBC's "Closing Bell."
All times are Central European Time (CET). The event is scheduled to run one hour.
Michael Fries, chief executive of Liberty Global, an international cable operator, told CNBC Thursday that a smart pricing strategy and presence in select European markets have helped the company grow, despite Europe's larger economic woes.
It might sound heretical for a leader of a communications firm to suggest it, but lately I’ve been thinking that a lot of big brands and companies should take a vow of silence.
Not forever, but at key moments in time.
In this era of radical transparency, rather than trying to explain what you’re doing to fix a problem or poor performance or disappointing service, put all of that energy into fixing it first. Let people see the difference, then call in the communicators to amplify the actions you’ve taken.
Fortunately I’ve seen more and more companies coming to this realization: actions trump words and actions must precede words to have credibility.
The theme this week at the World Economic Forum Annual Meeting in Davos, Switzerland, is “The Great Transformation: Shaping New Models.” The delegates at the meeting will discuss new models for multi-stakeholder action on everything from sustainability to world peace.
Moving closer to home, I hope that corporate leaders and those of us in communications can agree that our best model is one that puts action on the front end of the process, followed by communication with customers inviting them to experience again the service or product and then use communications to amplify that experience and build advocacy at scale. Particularly at a time of high unemployment and economic divides, the public has little to no patience for companies that try to talk their way out of a mess before taking real action. It’s time to do the right thing and then, with humility, communicate about it.
Despite reports suggesting that Iran is considering a halt to all oil exports to Europe as a response to European Union and US sanctions, the head of energy watchdog the International Energy Agency said that releasing reserves under its control is not something under consideration now.
Maria van der der Hoeven, the executive director of the IEA told CNBC on Thursday that "releasing strategic reserves would only be a question if there is a real and serious disruption of supply. And that is not the case at this moment."
The EU should build up more resources for a firewall around Greek debt, Sweden's Finance Minister Anders Borg told CNBC at Davos Thursday.
"We need to see some further progress when it comes to building up resources in the euro zone \(to contain the Greek debt crisis\)," he said, as talks on the resolution of Greece’s debt crisis continued.
There is an "unprecedented sea" of new regulation for banks, Baudouin Prot, BNP Paribas chief executive, told CNBC in an interview at Davos.
Regulators need to make sure they're not "overloading" banks, and that regulations are enforced around the world, he said.