Dominique Strauss-Kahn returned home to France on Sunday, for the first time since attempted rape accusations by a New York hotel maid unleashed an international scandal that dashed the former International Monetary Fund chief's chances for the French presidency.
"If you look at the situation of the economic crisis it was always more political than financial. We need to simplify the decision-making process because at the moment it is far too complicated," Jose Maria Aznar, former Prime Minister of Spain, told CNBC.
International Monetary Fund staff have provoked a fierce dispute with eurozone authorities by circulating estimates showing serious damage to European banks’ balance sheets from their holdings of troubled eurozone sovereign debt. the FT reports.
Former IMF cheif Dominique Strauss-Kahn was greeted with applause during his visit to the headquarters of the International Monetary Fund in Washington D.C. on Monday.
"Inflation fears at the start of the year were always something I was skeptical about and which I always thought were overdone," Bob Parker, senior advisor at Credit Suisse, told CNBC. However, he added he was concerned that inflation could become an issue in 2013.
The IMF director is calling for mandatory recapitalization at some Euro banks. Debating whether it is necessary and what it means for the debt crisis in Europe, with Frank Holmes, U.S. Global Investors CEO, and Erik Davidson, Wells Fargo Private Bank.
EU leaders yesterday rounded on the new Head of the IMF calling her comments on Europe 'misguided'. Christine Lagarde's assessment is certainly stark. The former French Finance Minister argues economies are now in a 'new dangerous' phase' that requires Europe's banks be forced to recapitalize in order to cut the 'chain of contagion'.
European officials rounded on Christine Lagarde on Sunday, accusing the managing director of the International Monetary Fund of making a “confused” and “misguided” attack on the health of Europe’s banks, the FT reports.
In Jackson Hole Wyoming on Saturday Jean-Claude Trichet, the president of the European Central Bank was due to give a speech to a meeting of policy makers hosted by the Federal Reserve. As he prepared to speak the euro zone faced huge problems.
Following weeks of heavy losses for banking stocks across Europe, the Sunday Times in the UK reported Sunday that European officials are working on a "radical plan" to prevent a fresh pan-European credit crunch.
The IMF does not expect a coming global recession but risks have increased, an official from the organization said on CNBC Friday.
John Lipsky, IMF first deputy managing director, evaluates the chances of a recession, with CNBC's Steve Liesman.
Chris Wheeler, bank analyst at Mediobanca joined CNBC to discuss the latest news on the European markets and what would happen if the Greek bailout fails.
While markets are hyper-focused on the Friday speech at Jackson Hole by Fed Chairman Ben Bernanke, they are overlooking what could be an equally important Saturday appearance by IMF Managing Director Christine Lagarde.
Prosecutors in New York have asked a judge to dismiss sexual assault charges against former IMF chief, Dominique Strauss-Kahn. CNBC's Kayla Tausche has the details.
Charges against former head of the International Monetary Fund Dominique Strauss-Kahn may be dropped altogether this week in New York.
Spain will announce further austerity measures on Friday in a bid to fend off debt market attacks but avoid the kind of drastic cuts that could damage the ruling Socialists' chances in November's general election.
The “Euro bond” solution to the euro zone’s sovereign debt problems appears to be an idea whose time has come, Moorad Choudhry writes.
Opposing lawyers disputed the meaning of a medical report that said "rape" caused injuries sustained by the woman who has accused former IMF chief Dominique Strauss-Kahn of sexual assault.
"The problems in the European markets are based on a lack of clarity and a lack of a long term solution," Gemma Godfrey, head of research at Credo Capital told CNBC. "Things are getting a lot worse......the ECB is using debt to solve a problem of debt," she added.