Holly Ellyatt
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Russia could avenge the loss of billions of dollars in Cyprus by cutting Germany's energy supply, one analyst said.
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As the Cypriot parliament decides on a deposit levy, the shadow of Russian money in the island looms large.
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Hungary's increasingly aggressive moves against media, judiciary and central bank independence will be discussed by European Union heads of states on Friday.
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European leaders meeting in Brussels on Thursday hinted that some countries could be given more time to meet their deficit goals as they address high unemployment and seek to ease the pain of tough austerity measures.
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The world's biggest strip club businesses say that business is booming despite the recession, proving that "sex entertainment" still sells despite the global economic downturn. The strip club workers, however, tell a different story.
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As calls grow for Germany to have more control over the European Central Bank, banker Jens Weidmann played down calls for it to have more voting power.
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Retail investors have missed out on the record rally in U.S equity markets because they don't want to risk losing their money again as financial institutions are seen as "too big to jail," James Bianco, president of Bianco Research, told CNBC on Wednesday.
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Reclassifying Greece as an emerging market economy is "deeply offensive," according to one analyst.
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The political risks to the euro zone and its currency have receded and if the area stays on the "right track," the region's crisis could be largely over by the end of the year, Holger Schmieding, chief economist at Berenberg Bank, told CNBC.
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As the Dow Jones hits another record closing high, Jim O'Neill, chairman of Goldman Sachs Asset Management turns cautious on equities.