Former Greek Finance Minister Giorgos Papakonstantinou said exiting the single currency would be disastrous for Greece. "Incomes would drop another 20 to 30 percent. Inflation would skyrocket up to 30 to 40 percent again," he told CNBC's "European Closing Bell".
Donald Trump, Trump Organization , discusses his support for presidential candidate, Mitt Romney; implementing a tax code overhaul; and creating jobs in America.
CNBC's John Harwood reports on who Mitt Romney is likely to choose as his vice presidential running mate.
Hundreds of thousands of out-of-work Americans are receiving their final unemployment checks sooner than they expected, even though Congress renewed extended benefits until the end of the year, the NYT reports.
Faced with so much market volatility and uncertainty, fund managers say they have sharply scaled back their exposure to countries in the euro-era “periphery”. They have, moreover, become highly selective about investing in banks, the Financial Times reports.
The deepening euro zone crisis is threatening the integration of Eastern European nations into the single currency area, the Chief Economist at the European Bank for Reconstruction and Development (EBRD) told CNBC’s “Worldwide Exchange”.
Spain, Italy and Greece, already fighting a financial and economic crisis, are now facing an oil crisis. Olive oil, that is. the Financial Times reports.
With great debate, the Eurozone will slowly but surely move to the next stage – the Greek exit – in the coming months. The question is not whether it will happen. The question is whether it will be orderly or disorderly.
The Islamist candidate of the Muslim Brotherhood will face former President Hosni Mubarak’s last prime minister in a runoff to become Egypt’s first freely elected president, several independent vote counts concluded Friday morning, the NYT reports.
The euro's nosedive has taken it to levels where some are wondering if a reversal is at hand.
President Obama's attacks on Bain Capital is testing a bond formed by Bill Clinton, who showed that Democrats could be both populist and friendly to Wall Street, The New York Times reports.
There has been no global recession but negative sentiment and maximum uncertainty are clouding the reality of the situation, Frank Appel, Deutsche Post’s CEO told CNBC on “Worldwide Exchange.”
Ever wondered why European politicians appear so calm when attending summits in Brussels or G8 meetings despite all the talk of a “Grexit” and economic Armageddon?
This Memorial Day weekend, motorists will find gasoline plentiful and at the lowest price it’s been for two years. Good news. And it may get better. The Christian Science Monitor reports.
Egypt made history on Wednesday as it kicked off its first free presidential election and put its fragile democratic transition to the test. Just over 50 million eligible citizens are expected to cast their votes over the course of two days.
Strong demand for Germany’s two-year bonds, which offer nothing in return, shows that opening Pandora’s Box in Europe has sapped investor confidence, Jim O'Neill, chairman at Goldman Sachs Asset Management told CNBC’s “Worldwide Exchange.”
European leaders meet in Brussels this evening for an informal dinner being billed as a showdown between German Chancellor Angela Merkel and French President Francois Hollande over the tricky issue of Eurobonds—bonds issued by the EU and backed by euro zone members collectively.
To alleviate Europe’s debt crisis, Cramer thinks these two measures need to be taken.
It's a GOP attack ad, but with a soft approach, and it's expected to become one of the most heavily broadcast commercials of this phase of the general election, The New York Times reports.
Lawrence Lindsey, The Lindsey Group, president & CEO, discusses his views on Democratic Senate candidate Elizabeth Warren and says Mitt Romney has a shot at winning the White House, but will most likely lose.