Ukraine reached a deal with creditors to restructure its debt—a key requirement for the country to continue getting support from the IMF.» Read More
Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.
The euro is rallying on fresh hopes that Greek politicians can agree to austerity measures that could secure them a much-needed second bailout from their euro zone peers.
Greece’s leaders and representatives of the troika responsible for its bailout failed yet again to reach agreement on the terms of a second bailout by Tuesday morning leaving European markets facing another day’s uncertainty over the Mediterranean country.
The situation in Greece went seriously weird this morning, when European Union officials and Greek officials couldn’t seem to agree whether Greece had missed a deadline to agree to austerity measures required to secure another rescue package.
Down to the wire again in Greece, and the dollar looks like a refuge - it's time for your FX Fix.
There have been almost as many new acronyms slipping into business news as there have been euro zone summits in recent months.
Crisis talks on a debt deal for Greece among the three leaders of parties supporting the coalition government were suspended and will continue Monday.
Euro zone and U.S. growth rates will probably diverge this year, with the euro zone contracting while U.S. growth accelerates, but U.S growth will be similar to that in the euro zone next year, Legal & General Investment Management said in a new report.
U.S. markets lose early gains after a surprise drop in consumer confidence. Homebuilders are down today after home prices fall again. RadioShack shares plunge after the company severely lowers its Q4 forecast. And the bull run in gold appears to remain intact.
Federal Reserve chairman Ben Bernanke went to the well of make-believe wealth once again, setting the stage for more bond buying in last week’s announcement. With a sullen economy supported by 36 months of smoke and mirrors, the punch bowl was never far away.
The first mistake was to try to arrange a voluntary haircut in the first place, when the Greek government should simply have defaulted.
The health of the global economy, and that of markets, depends on the success of a series of medium-term handoffs between the public and private sectors – in growth, balance sheets and credit flows.
European leaders are beginning to accept the idea that Greece will be forced to default on its debt, causing a long-feared "credit event" that triggers billions of dollars of credit default swaps.
The factors that are pointing to a deceleration in global growth, with Olivier Blanchard, IMF economic counselor/director of research.
The lead negotiator for private-sector Greek debt holders says he's still hopeful a deal can be reached that satisfies creditors while enabling the financially strapped nation to grow.
The International Monetary Fund needs $500 billion to help contain the spreading European debt crisis, the organization's managing director, Christine Lagarde, told CNBC.
IMF managing director Christine Lagarde says she hopes that 2012 will be a year of healing for Europe. The euro partners have to agree on more, says Lagarde, who adds the IMF needs an additional $500 billion in lending capacity to build a stronger firewall out of the euro zone.
The US Treasury has "no intention' of providing additional money to the International Monetary Fund, a Treasury official told CNBC Wednesday, even though the IMF is hoping to raise an additional $500 billion to help fight the European debt crisis.
Since a limited offshore market in the Chinese currency was established in Hong Kong last year, volumes have gone from strength to strength.
In an exclusive interview, Greek Prime Minister Lucas Papademos is taking straight aim at those who suggest Greece should abandon the euro: “This is really not an option.”