What is needed is an agreement, and then an undertaking, to make the euro work. This needs a centralized budgetary authority, which has control over the debt issuance process as well, to ensure that governments do not run up unsustainable public deficits. Tie that into a genuine lender of last resort role for the European Central Bank and we are almost there.
While most have dubbed the products of the European Union Summit as further ‘kicking the can down the road,’ I believe the outcome portends the end of the Euro currency as we now know it.
As a New York Jets fan, I despair of all the talk about the New England Patriots. I desperately want to wish the Patriots away, but I cannot. They matter. When it comes to Europe, investors around the world also face this exasperating combination of having, but not wishing to pay close attention.
CNBC's Mandy Drury looks at the upward move in the U.S. markets, partially due to the EU agreement. And lower gas prices bring about a rise in consumer confidence.
The surveillance images show Dominique Strauss-Kahn striding from an elevator at the Sofitel New York and also captured on tape, some curious images: two hotel workers appear to share a brief celebratory embrace and dance, the New York Times reports.
Another week, another euro zone crisis! It feels as if this crisis is never ending, self perpetuating until an eventual Armageddon that will at the very best end with the break-up of the euro zone and at the very worst in World War III.
British Prime Minister David Cameron is facing criticisms of leaving the UK isolated after he said he would not agree to a new European Union treaty.
Today, the Bank of England left rates and quantitative easing on hold as Governor King decides to wait before more additional easing measures are taken and says that the events in Europe are beyond his control.
The US economy has not, by any means, emerged fully from the recession of 2008. The real-estate sector is still suffering grievously from the effects of the crash, and unemployment remains uncomfortably high.
A break-up of the single European currency would have severe consequences on the UK economy, with unemployment pushing above 4 million, the pound appreciating sharply and major banks failing, analysts at ING wrote in a market note.
Frans van Houten, CEO, Royal Philips Electronics, "half-hearted measures are not going to cut it and we have now seen this for several months in a row and it is having a real effect on the economy."
Eleventh-hour negotiations have begun in Europe to create a much bigger financial “bazooka” to present at this week’s EU summit that could include running two separate rescue funds.
Standard and Poor's should've waited at least a week to announce it had put 15 European Union nations on its CreditWatch for potential downgrade, said the chairman of tire maker Pirelli.
Markets appear to have high hopes for this week’s summit meeting in Europe to begin putting an end to the financial crisis. Yet there’s ample reason to believe the market’s hopes will be dashed again. Here's why.
Bulgaria still wants to join the euro zone despite recent predictions that the single currency will collapse, but does not agree with a single tax rate in the currency area, Traicho Traikov, minister of economy for Bulgaria, told CNBC on Thursday.
The euro has had a nice move up on reports of actual progress by European leaders on the debt crisis. But this strategist has other ideas.
After the euro zone, the most common topic of this column has been the labor market. Unemployment is the biggest single issue for developed economies, now and for the next several years at least, and it has been disappointing, to say the least, to see the lack of effective response from policymakers so far.
Europe is in crisis mode, China cuts reserve requirements, and business is up down under - it's time for your FX Fix.
CNBC's Steve Liesman has the details of the pact that would enforce limits on debt and deficit.
"I think the idea that countries and regions can make policy independent of what else is going on in the world is pretty ludicrous, and yet we still seem to be presuming the best global policy is the arithmetic sum of some national policies. That's not working too well," Morgan Stanley Asia's nonexecutive chairman, Stephen Roach, told CNBC.