The Group of 20 is seeking to meet again, possibly before Christmas, with the aim of resurrecting a deal to provide an international firewall around Greece, G20 sources have told the Financial Times, saying negotiators at the Cannes summit had been close to an agreement.
Those looking for firm action in the final G20 communique would have had a hard time finding much to get their teeth into.
Europe is officially in crisis mode, but the euro is hanging tough. Here's how to prepare if uncertainty seems primed to rise on Monday.
Europe failed to get the leaders of the world's wealthiest economies to help out with its debt troubles, but everyone left a G20 summit Friday relieved that at least they forced the Greek prime minister not to hold the world hostage with a bailout vote.
CNBC's Steve Liesman has the details on Greece, the IMF, and how the country plans on getting financial relief.
President Obama said world leaders have made important progress at the G20 summit to put their economic recoveries on firmer footing, adding that all countries have an enormous stake in the outcome of Europe's debt crisis.
The future of Greek Prime Minister George Papandreou's government looked increasingly doubtful as it prepared for a confidence vote Friday, with markets facing continued uncertainty in the euro zone.
Australia goes downbeat, and Greek no-confidence vote gives none - it's time for your FX Fix.
Patrick Legland, global head of research at Societe Generale, told CNBC he feared the Greek debt crisis could be a "dress rehearsal" for what could happen with Italy.
When future financial historians look back at the early 21st century, they may wonder why anybody ever thought it was a good idea to repackage subprime securities into triple A bonds. So, too, in relation to assumptions about the “risk-free” status of western sovereign debt, according to the FT.
What happened in Europe over the past 10 to 20 years was almost like a Bernard Madoff event. The EU gave rules for countries to follow, but just like the ponzi schemer, the countries were their own judges and had quite a bit of leeway in creating off-balance-sheet debt, and they were their own auditors.
Tensions between Greek Prime Minister George Papandreou and Finance Minister Evangelos Venizelos are increasing the risk of a Greek government collapse, after Europe and the International Monetary Fund (IMF) warned the debt-laden country Wednesday that it will cut off its aid flow until a planned referendum is resolved.
The outcome of last week’s euro zone summit meeting is not quite as positive as the immediate equity market reaction suggested. For a comprehensive dissection read this week’s Economist, which lays out in stark terms what further work is needed from euro zone leaders.
Greek Prime Minister George Papandreou is gambling his political life and legacy on a no confidence vote on Friday, which could be crucial to the future of Greece. To help solve Europe's sovereign debt crisis, a special organization was set up in 2010 called the European Financial Stability Facility, or EFSF. So what is it and how does it work? CNBC explains.
Another European plan to fix its sovereign debt problem has initiated another sharp market rally. But will the enthusiasm over the latest rescue effort last longer than the optimism that greeted past plans, only to slowly fade away? The New York Times reports
The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.
A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said on Thursday.
Here’s your quick translation of the news that the International Monetary Fund is “considering” a plan to back a special investment vehicle being proposed as part of the expansion of the European Financial Stability Facility.
As European leaders ready themselves for another summit on the euro zone crisis, one economist said that the critical situation in Greece should be dealt with by focusing on growth instead of debt.
A question that is becoming more pertinent in these straightened economic times is whether it is possible to measure charitable initiatives the way businesses measure their profits.