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    The recession call is not conclusive. I’m the first to admit it. And my optimistic instincts rebel against the downturn scenario. But facts are facts. They must be reported. And the numbers aren’t good.

  • A man walks outside the Bank of Greece headquarters during a demonstation against government's austerity measures in central Athens.

    German Chancellor Angela Merkel and French President Nicolas Sarkozy have both said that Greece will not leave the euro, but the "unthinkable" is now being seriously considered at all levels.

  • Lagarde Speaks Out

    Greece will remain in the Eurozone, says the IMF's managing director Christine Lagarde. CNBC's Maria Bartiromo spoke with the organization's managing director, who is not backing away from her comments that the Eurozone banks will need to raise capital.

  • Euro bills and coins

    The arm-in-arm effort by central bankers to increase U.S. dollar liquidity in Europe is essentially a band-aid solution, and the euro is already backing off its gains.

  • French Finance Minister Christine Lagarde is considered the top contender to replace Strauss-Kahn as IMF chief.

    France, Germany, and other euro zone countries want Greece to remain in the monetary union, "but there will be a price," Christine Lagarde, managing director of the International Monetary Fund (IMF), told CNBC Thursday.

  • IMF Chief's Plan To Boost Global Growth

    Europe's debt crisis has worsened and the world economy has entered into a dangerous new zone, says Christine LaGarde, IMF managing director. CNBC's Maria Bartiromo asks LaGarde why she is focusing on short-term measures.

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    Governments can "create" jobs in a non-Keynesian manner. The first thing to do is generate incentives for private sector companies to hire more staff, writes Moorad Choudhry, Head of Business Treasury, Global Banking & Markets at the Royal Bank of Scotland.

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    Greece needs a collective effort by itself, the International Monetary Fund (IMF) and the rest of the euro zone members to resolve the crisis, according to Zhu Min, Deputy Managing Director, who spoke to CNBC from the summer meeting of the World Economic Forum in Dalian, China.

  • Timothy Geithner

    News that Germany and France are ready to stand by Greece and avoid it leaving the euro helped stocks to rally following a conference call between Angela Merkel, Nicolas Sarkozy and Greek Prime Minister George Papandreou on Wednesday.

  • european_union_200.jpg

    Markets around the world have been waiting for decisions from euro zone leaders on greater fiscal integration and euro bonds since July.

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    Investors will have to deal with an avalanche of news flow from Europe on Wednesday ahead of a crucial meeting of euro zone finance ministers and US Treasury Secretary Tim Geithner on Friday.

  • global_markets_8_200.jpg

    Despite the laundry list of troubles—and constant predications of an American decline— many analysts say the U.S. is far from losing its ranking as the number one economy on the globe.

  • Angel Gurria, secretary-general of the Organisation for Economic Co-Operation and Development, issued a strong defense of the euro over the weekend.

  • European Central Bank

    There are plenty of officials who would argue there is no possibility of Greece being excluded from the euro zone in the event of a bankruptcy, writes BNY Mellon's Simon Derrick.

  • greece_flag_200.jpg

    Debt-crippled Greece's borrowing costs reached a new record high Tuesday on fears about the country's austerity program, a new blow as Prime Minister George Papandreou chaired a cabinet meeting aimed at finding ways to speed up delayed structural reforms.

  • Reichstag Parliment building, Berlin, Germany

    On Wednesday, investors will wait with bated breath for news from Germany again, where the Federal Constitutional Court has the power to make or break the fate of the euro zone.

  • Piazza Venezia, Rome, Italy

    Italy has been allowed to backtrack because the European Central Bank bought Italian bonds before an austerity package had been agreed, Nick Firoozye, head of European rates strategy at Nomura told CNBC Tuesday.

  • Close-up of a pen on stock price chart

    European shares fell sharply on Monday amid renewed fears over the euro zone debt crisis and a warning from Deutsche Bank’s CEO on the outlook for banks.

  • Dominique Strauss-Kahn

    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.