Christine Lagarde said China's slowdown would pressure oil and commodity exporters around the globe, increasing demands for IMF aid.» Read More
As euro zone finance ministers meet to discuss the latest plan on the table aimed at solving the Greek debt crisis, one fund manager is warning that Italy and Spain will be downgraded, raising the possibility of "carnage" for global markets.
European leaders are for the first time prepared to accept that Athens should default on some of its bonds as part of a new bail-out plan for Greece that would put the country's overall debt levels on a sustainable footing, reported the FT.
What happened in Italy last week was notable. If it continues, it would mark a significant extension of the regional debt crisis that Europe has repeatedly failed to come to grips with.
Traders at the Egyptian Stock Exchange reacted negatively to developments over the weekend, pushing the benchmark index EGX30 1.67% lower to 5270, its lowest level in almost two months.
Europe’s banks are growing increasingly angry over the stress tests being run by European regulators, complaining that the process has been excessively rigid, with damaging changes to the exercise rushed through at the last minute, according to the FT.
Egypt’s benchmark stock index was able to rebound 0.75 percent in the last trading session before an expected "million-man" march on Friday.
The European Central Bank raised interest rates by 25 basis points to 1.50 percent on Thursday, as it continued to brush off concerns over sovereign debt worries in the euro zone periphery, but President Jean-Claude Trichet hinted that a further rise in August is unlikely.
Despite a manufacturing slowdown in Russia, China and Brazil, emerging markets will be key to the recovery of the global economy, Stephen King, chief economist at HSBC told CNBC.
European policymakers grappling with problems in Greece, Portugal, Ireland and Spain should follow the path set by the Uruguayan government a decade ago, dealmaker William Rhodes told CNBC Thursday.
The European Central Bank is expected to raise rates by 25 basis points on Thursday, as indicated in its June press conference, despite ongoing concerns over the euro zone's periphery.
While the Greek sovereign default saga steadily trundles along its course, contagion is not the only problem European policymakers are going to have to struggle with. The Euro Area recovery is slowing, and fast, writes Edward Hugh, independent economist.
Dennis Gartman, the Gartman Letter, explains why the euro will hit new lows.
The Canadian dollar is poised to beat very low expectations, unlike one major currency we could name.
The official biographer of Dominique Strauss-Kahn believes he is a "French lover" rather than a rapist.
The situation facing European countries like Greece and Portugal is directly comparable to the economic crisis which hit Latin America in the late 1990s, Andy Brough, co-head of Schroders’ Pan European Small and Mid Cap team, told CNBC Wednesday.
The biggest question in any debt crisis is whether a credible path back to solvency can be found. For Greece, this now seems very unlikely, the Financial Times reports.
Brazil is preparing a range of additional measures to stem the damaging rise of the real as the global currency war shows no signs of ending, according to Guido Mantega, the country’s finance minister, reported the FT.
Markets, commodity prices, and growth related currencies rebounded last week on the back of good news when the Greek Parliament passed the latest austerity package.
Evangelos Venizelos, who was brought in as Finance Minister of Greece two weeks ago, said Greece's part in the euro zone was "not reversible" in a first on CNBC interview Tuesday.
The current situation in the euro zone is "untenable" and policymakers will have to either pursue greater European economic integration or see countries exit the euro, George Magnus, Senior Economic Advisor, UBS told CNBC Tuesday.