Portugal raised about 1.5 billion euros yesterday and Spain 3.9 billion euros today in auctions that were surprisingly oversubscribed.
For years, almost nobody paid attention to the sky-is-falling alarms of Edward Hugh, a gregarious British blogger and self-taught economist who repeatedly predicted that the euro zone could not survive. The NYT reports.
Don’t trust a move higher, Cramer says, until these six problems are solved.
Eurozone nations on Monday started setting up a massive bailout fund that could rescue any member of Europe's currency union from default, aiming to soothe market jitters that have sent the euro to a new four-month low against the dollar.
Many of the G20 nations are supportive of a tax on banks and details of the levy should be hammered out over the next few weeks despite growing doubts over the prospects for a multinational agreement, French Finance Minister Christine Lagarde told CNBC Monday.
Cramer has a six-point plan to help the bank withstand any contagion Europe has to offer.
The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
Investors are playing the markets carefully during these volatile conditions but stocks will resume their way up once the wave of international bad news subsides, Robert Doll, BlackRock vice chairman, told CNBC Wednesday.
As the rest of the world speculates which bank/country/continent will require another bailout, Canada serves as a “shining” example on how to escape the debt spiral, Jim O’Neill, chief economist at Goldman Sachs, told CNBC on Tuesday.
Just how much the US economy will expand this year and next remains a question among economists—with the wild card being the impact of European turmoil on US growth.
The developing theme is that China and others are experiencing slower growth due to the slowdown in Europe. With that theme, there are articles circulating about the drop in commodity prices signaling a global slowdown.
The European Central Bank may have shocked the markets with its prediction that bank losses are likely to increase in the near-term, but other economists believe the worst is behind us, and that governments have the power to force banks to lend.
The euro will drop even further against the dollar because Europe's problems will not be easy to solve, Dennis Gartman, author of "the Gartman Letter," told CNBC Tuesday.
Sellers dominated May with the Dow's total monthly loss totaling 8%; that's the worst May drop since 1940. Are we in for a cruel summer?
Thanks Fitch. The ratings agency's latest downgrade could force the market to again test key levels of resistance. What must you know?
I thought I understood how dire things were in Europe. Then I saw it explained by Clarke and Dawe. Troubling.
Recent stress tests have shown that Portuguese banks are more resilient and well-capitalized than their counterparts in Spain, which were more severely affected by the housing bubble, Portuguese Finance Minister Fernando Teixeira Dos Santos told CNBC Wednesday.
Once upon a time, the European Economic Community-remember that quaint post-World War II institution-thrived without a single currency. A larger European Union can again, but it needs to jettison the fantasy that the benefits of capitalism can be accomplished without adequate incentives to work hard and invest.
Stocks erased most of their earlier losses in the final half-hour of trading Tuesday as materials and consumer discretionary stocks advanced.