Some people have to realize that government requires compromise, says CNBC's John Harwood. John Boehner will probably remain speaker for awhile longer, he adds.» Read More
The Irish economic recovery has been held back by credit ratings agency Moody's downgrading its rating to junk status, Minister for Jobs, Enterprise and Innovation Richard Bruton said Wednesday.
Finding a solution to the euro zone crisis is such a complex task that investors, as well as many citizens of the European Union, have grown disgruntled with attempts to sort out the debt.
In the euro zone, the fiscal crisis is lapping on Italy’s shores. In the US, the administration declares it will run out of funding early next month if the debt ceiling is not raised. Far fewer Europeans than Americans believe public sector defaults are beneficial, according to the FT.
The small city of Central Falls, R.I., appears to be headed for a rare municipal bankruptcy filing, and state officials are rushing to keep its woes from overwhelming the struggling state, the New York Times reports.
The euro takes a beating and the trade deficit dents the dollar - time for your FX Fix.
Italy's family savings will keep the country from defaulting, Alessandro Capuano, head of Italian desk at IG Markets, told CNBC Tuesday.
European bank stocks are now trading like technology stocks did before the bust of the early 2000s, Peter Toogood, Director of Investment Services at Old Broad Street Research, told CNBC Tuesday.
Politicians on Capitol Hill are playing with fire on the debt ceiling and need to accept responsibility for the debt crisis rather than engaging in a hypocritical debate on tax and spending, according to Jan Poser, the chief economist at Sarasin in Zurich.
Currency investors are currently debating the merits of a proposed plan to allow a tax holiday for big US multinationals that could see money pour back into America, potentially boosting the dollar.
U.S. Sen. Bob Corker wants trillions in spending cuts and sees no reason to avoid using the Aug. 2 deadline to put some "leverage" on the Obama administration.
The ongoing crisis in the euro zone is creating a trading opportunity among safe-haven currencies, this strategist says.
The Iraqi government is expected to sign a $12 billion gas deal with Royal Dutch Shell and Mitsubishi Corp on Tuesday, Dow Jones reported.
At a private meeting about deficit reduction at the White House last week, Speaker John A. Boehner told his fellow Congressional leaders and President Obama that he did not spend 20 years working his way up to the top job on Capitol Hill just for the cachet of the title — he wanted to accomplish something big, the New York Times reports.
On Thursday afternoon, I appeared on CNBC with my friend Rick Santelli to discuss the debt limit and what may happen when it is reached sometime in early August. If you saw the piece, you know that Rick became fairly passionate about his position that there should be no compromise on increasing the limit and that the government absolutely has to solve this issue by cutting spending.
German Chancellor Angela Merkel pressed Monday for a quick agreement on a new rescue package for Greece, and said she is confident that Italy will push through an austerity plan.
After the European market closes on Friday, global markets will be digesting the results of the latest set of stress tests for European banks. Those that fail will need to raise more capital and the health of those that pass is likely to remain in doubt given questions being raised about the credibility of the tests.
Hopes of a speedy recovery for the US economy where dashed by Friday’s disappointing jobs number that showed only 18,000 jobs where created by the world’s largest economy in June.
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.