Growth in Central and Eastern Europe hinges on developments in the euro zone and a slowdown in the CEE region is already underway, European Bank for Reconstruction and Development (EBRD) chief economist Erik Berglof told CNBC on Wednesday.
Austerity alone does not deliver the rewards it is meant to and the threats of stunted economic growth and recession remain high in the euro zone, Stephen King, global chief economist at HSBC told CNBC.
U.S. economic growth "is likely to be a little bit slower than we might have thought a couple of quarters back" because "the European situation is having an impact," Citigroup CEO Vikram Pandit told CNBC.
German Chancellor Angela Merkel has rejected calls for a big increase in the eurozone's rescue fund.
Uncertainty and volatility will likely be the two words we will hear most during the first two days in Davos — uncertainty about economic growth rates, particularly in Europe, and volatility in commodity prices driven by continuing demand in emerging markets and possible political disruptions around the world.
Europe’s banking system is on the brink — and Wall Street is its bedfellow. So what does Wall Street want out of Europe's most elite economic confab? Skiing, distressed debt deals, and above all: solvency.
More than 40 years since the World Economic Forum (WEF) began as the rather less-impressive sounding European Management Forum, political leaders, chief executives of the world’s biggest banks, royalty, actors and pop stars will converge on the small Swiss ski resort of Davos next week.
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
As Europe’s debt turmoil enters its third year, no clear solutions are yet in sight — despite recent signs that a new lending program by the European Central Bank might be easing pressures.
As difficult as the last two years have been for Europe, 2012 could be even tougher. Each week, countries will need to sell billions of dollars of bonds — a staggering $1 trillion in total — to replace existing debt and cover their current budget deficits, the New York Times reports.
Funny what a European debt crisis can do to the appeal of the dollar.
The European Central Bank will continue to ease monetary policy but it needs to see inflation coming lower, Michael Plavnik, head of the short-term interest rate desk at Citigroup, said. "I definitely believe the ECB will cut rates. I don't think they'll cut in January, I think they'll cut in February."
The euro is under pressure and Switzerland's top central banker is under fire - it's time for your FX Fix.
The cliché in politics is that its not the wrongdoing that destroys you, it's the cover-up.
Stung by souring loans and troubled government bond portfolios, many European banks are being forced by regulators to raise money to build up their cash cushions against future losses.
An extended bank holiday in the European Union to halt a steep market fall, a third party candidate winning the race for the White House, and 50 European banks being nationalized are just a few of Saxo Bank's "outrageous predictions" for 2012.
Hold the condolence cards, but the recession cost the rich. The share of income received by the top 1 percent — that potent symbol of inequality — dropped to 17 percent in 2009 from 23 percent in 2007, according to federal tax data. The New York Times reports.
In the fiscal accord, the nations that use the euro essentially agreed to go back to Plan A — that is, the principles and rules with which they created their common currency two decades ago.
A move announced by central bankers on Wednesday to contain the European debt crisis resulted in euphoria in global stock markets, but it also prompted skeptics to wonder: will this time be different? The New York Times reports.
In a stern pronouncement, Moody’s Investors Service this week warned of rising prospects for multiple defaults by countries in the euro zone and credit rating downgrades of nations across Europe if leaders should fail to resolve the spreading debt crisis. The NYT reports.