Greece's austerity plan, viewed by markets as the saving grace just a day ago, has quickly moved into irrelevance as banks and insurers try to find a path around default.
A currency trade on the Greek austerity vote, with Rebecca Patterson, JPMorgan Private Bank. Also, the Fast Money traders with stocks that pop.
The dollar rides some good economic news, for a change, and the Bank of England's Mervyn King delivers a scolding — time for your FX Fix.
German Chancellor Angela Merkel on Friday said she was optimistic that Greece would be able to push through a new package of austerity measures needed in return for further bailout funds.
CNBC's Guy Johnson with the latest details on the EU meeting in Brussels.
Shares in Italian banks UniCredit SpA and Intesa Sanpaolo fell sharply on Friday and were briefly suspended for hitting the daily downward limit under pressure from Europe's debt crisis.
After a volatile session on Thursday as the International Energy Agency unveiled plans to release strategic reserves in a bid to push oil prices lower, stocks look set for a strong end to the week.
Free-market economics is probably not the most accessible subject in the world. One could say it is something that is not easy to describe or articulate. This is something of a paradox, because at its core it involves a very natural human emotion – that of rational self-interest.
As European leaders meet in Brussels with Greece potentially facing a devastating sovereign default, it is easy to forget that just six months ago it looked as though the European Union was about to turn the corner in its debt crisis, the FT reported.
European leaders arriving for a summit in Brussels on Thursday reinforced calls for Greece to push ahead with austerity measures in return for further financial aid and called on the country to stand united as opposition to the measures grows.
CNBC's Tyler Mathisen with a report that Greece has a deal with the EU and IMF on a 5-year austerity plan.
CNBC's Gary Kaminsky looks at weakenss in European financial stocks; and insight on taking a long term approach to investing, with Joe Dear, CalPERS CIO.
To most market participants, it should not be a surprise that today we had the type of comments by ECB’s Trichet on the risks associated with Greece contagion. We are constantly hearing the analogy to the US financial crisis and a Lehman event. Also, Trichet’s comments about the link between the sovereign debt and European banks should not be a surprise as this is the key factor in the crisis.
CNBC's Guy Johnson reports that northern European countries say they are fed up over Greece.
The European Central Bank's Trichet sees red, and hedge funds see problems in Mexico. It's your Thursday FX Fix.
German Chancellor Angela Merkel has certainly changed her tune. Now she's warning about the exposure of European financial institutions to credit default swaps that insure Greek bonds.
Financial markets should brace themselves for a restructuring of Greek debt in September, Barry Eichengreen, Professor of Economics at the University of California, Berkeley said on Thursday.
The New York Times considers the possibility that a firm or group of firms insured billions of dollars of European debt through derivatives.
Greece is facing an exit by some of the most talented people in its workforce, as well as its broader economic problems, John Sfakianakis Group Chief Economist at Banque Saudi Al Fransi, told CNBC Thursday.
Investors are afraid of “Armageddon” in foreign exchange markets due to concerns beyond the Greek debt crisis and sluggish US growth, David Bloom global head of foreign exchange at HSBC told CNBC Thursday.