Otmar Issing, former ECB chief economist and board member, and president of the Center for Financial Studies at Goethe University, comments on IMF Managing Director Christine Lagarde’s claim that global growth may be weaker than expected.» Read More
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.
U.S. authorities investigating a hacking attack on the International Monetary Fund have concluded it originated in China and was probably connected to the government. The FT reports.
As talks between Hungary and its international creditors heat up, sharp European Union criticism of the country's lack of progress in tackling its high budget deficit added to pressure on Hungarian negotiators, who already seemed to be softening their tough stance.
British trade data disappoints and Fitch offers tough love for the euro - it's time for your FX Fix.
As negotiators arrive back in Athens today, Greece enters a pivotal time period in which it must finish a crucial renegotiation of its more than $200 billion of debt.
Amid the wailing and gnashing of teeth that are governments’ attempts to confirm the long-term viability of the euro project, we are also witnessing an attempt to introduce a financial transactions tax (FTT) or “Tobin Tax” in the European Union.
Beware of trades linked to Europe ahead of Greece's audit next week, one “Fast Money” pro said Monday.
The play on Europe before next Monday's Greece audit, with Larry McDonald, Newedge senior director.
A Hungarian delegation prepares to resume talks with the International Monetary Fund this week, hoping to secure a credit lifeline while investors continue to push up the country’s borrowing costs.
Hungary's economy is approaching "meltdown," analysts warn, adding another financial crisis within Europe and raising concerns about more extreme populist moods gaining ground. The Christian Science Monitor reports.
There is a lot of negativity priced into Hungary, whereas Poland is considered the "darling" of Central and Eastern Europe, Bartosz Pawlowski Emerging Market Strategist at Barclays Wealth Management, said. "Before the month ends we're going to have more clarity and it's going to be a good investment," he said.