An International Monetary Fund staff report suggested that the IMF delay the currency basket adoption of yuan.» Read More
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.”
Greek Prime Minister Lucas Papademos, in an exclusive interview with CNBC, said “printing money is not an answer” when it comes to the European Financial Crisis, and declined to wade into the growing controversy over the ECB’s role in Greek debt.
CNBC's Michelle Caruso-Cabrera sits down with Greek Prime Minister Lucas Papademos to discuss the country's ongoing negotiations with the private sector and Greece's place in the euro zone.
It is unclear the extent to which the downgrades will alter the function of the international monetary system over time. It is also unclear how material the incremental headwinds blowing out of Europe will be for countries already facing internal fragilities.
In May 2010, the Eurozone crisis began with turmoil in Greece. In spring 2012, new turmoil in Greece will frame the end-game of the Eurozone itself.
The Greek government held crucial talks with representatives of private bondholders on Thursday to hammer out a deal on a bond swap that would reduce the country's debt load and secure an integral part of its second bailout package.