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Greece’s new finance minister has attempted to renegotiate parts of the austerity deal struck with international lenders last month, drawing anger from his European counterparts as they battle to find a solution to Athens’ debt crisis, reports the FT.
Despite all the euro news, the currency is basically range-bound, this expert says. Here's how to trade it.
Bank of England governors warn of weakness, and everybody is waiting for Bernanke — it's time for your FX Fix.
There is no way Greece can avoid a default, says Michael Spence, Nobel Laureate, with Mark Olson, former Federal Reserve governor.
Albert Einstein is reported to have said that insanity consists of doing the same thing over and over again and expecting different results. By those standards, the deal with Greece that is about to be agreed looks insane. The only justification, as I argued in a column on May 10, is that it is needed to play for time. This is a bad strategy. Something more radical is required, according to the FT.
Greece’s Prime Minster George Papandreou will face a vote of confidence in parliament tonight at midnight Athens time, 5PM ET. The government is working around the clock to gather support for its economic reforms and a new set of austerity measures.
There seems to be no limit to policy uncertainties, ranging from Europe’s stuttering response to its debt crisis, to questions about the end of QE2 in the US, the debt ceiling debate, and that still-elusive balance between medium-term fiscal reform and immediate stimulus to counter a weakening economy.
A British teenager has been arrested by officers investigating the LulzSec and Anonymous hacker groups, believed to be responsible for attacks on Sony, the U.S. Senate, the CIA, Britain's Serious Organised Crime Agency and News Corp.
European stocks rose early Tuesday and the euro stabilized versus the Swiss franc on hopes that euro zone officials will find a way to prevent a Greek default, as Fitch said even a voluntary maturity extension would lead to a cut in ratings.
Monetary policy has been "the great enabler" that central banks used to keep interest rates at "absurdly low levels for years now" and this has encouraged politicians to believe that sovereign debt is "a lot cheaper than it really is," David Stockman, former director of the Office of Management and Budget, told CNBC Tuesday.
Wisconsin has balanced its budget by creating a credit positive budget, says Gov. Scott Walker (R-WI), who defends the state's highly criticized budget.
With the world’s markets focused on the no-confidence vote in Athens Tuesday evening, one of the big questions facing the investors is if Portugal and Ireland could fall into similar difficulties if dreaded contagion where to spread across Europe’s periphery.
For more than two years, we have witnessed the economic demise of several European countries. This soon led to the financial community systematically assessing the health of several peripheral southern European countries, tumbling investment grade ratings and spikes in required rates of return on government debt of these sovereigns. As the European Central Bank continues to dole out rescue packages, many are now looking for the next country to suffer a financial attack and wondering if the euro will even survive, reports the FT.
The International Monetary Fund has revised its growth forecast for the euro zone to 2 percent, up from 1.6 percent, despite persistent concerns about the peripheral countries.
Coming up this Wednesday, the Fed's Policy Committee will meet and Fed head Ben Bernanke will host his second public press conference.
Bring back the drachma! Let Greece drop out of the euro for a while and give the Greek economy the chance to recover. Back to the good old days of soft currency and depreciation ...
A mismatch in the US labour market between the skills of unemployed people and the jobs available is making it hard for some companies to find the right staff despite an unemployment rate of more than 9 percent, one of the country’s largest manufacturing employers has warned, the Financial Times reports.
Dmitry Medvedev has made clear he would like a second term as Russian president but said he and prime minister Vladimir Putin would not run against each other next year, he told the FT.
The clock is ticking on Greece's efforts to pass austerity measures. Here's how to trade the drama.
The week's top business news and investment advice, including what to do on a potential fire sale of Greek assets, Pandora's volatile stock price, and playing defense.