Portugal has finally gone cap in hand to the European Union, the European Central Bank is about to raise rates and the market is obsessed by Fed speak and looking for clues on when the second round of creating money — or quantitative easing — will come to an end.
Greece has remained the world’s riskiest sovereign debt for the second quarter running in the first quarter of this year, according to a report by independent credit market data provider CMA.
After months of speculation, Portugal last night accepted what many had claimed has been inevitable since the fourth quarter of 2009 and went cap in hand to the European Union as its borrowing costs became unsustainable following another big jump in yields.
"Monetary policymaking is a notoriously difficult art. I say 'art' rather than 'science' deliberately," Dr Moorad Choudhry, Head of Business Treasury, Global Banking & Markets at Royal Bank of Scotland writes.
Global investors have followed every twist in the ongoing debt crisis engulfing the euro zone. See what countries have the most indebted governments, and how their economies are faring.
European stocks were indicated to open slightly lower on Thursday ahead of interest rates decisions by the European Central Bank and the Bank of England, as well as news that Portugal will seek financial aid from the European Union.
High Street retailers are dealing with the same pressures as their US counterparts and more.
European stocks were indicated to open slightly higher on Wednesday, following positive but muted trade in Asia.
The euro has been trading as if there is no such thing as a sovereign debt crisis, and that decoupling is overdone, this strategist says.
"A player on a sports team might prefer a particular strategy, but it's the coach's opinion that matters the most," said DRW Holdings market strategist Lou Brien, in a research note.
Austerity is - to put it bluntly - not going very well for a number of euro zone countries forced to impose measures on their economies and voters.
European stocks were indicated to open slightly lower on Tuesday, following lackluster trade in both Asia and the U.S.
At least two sons of Col. Muammar el-Gaddafi are proposing a resolution to the Libyan conflict that would entail pushing their father aside to make way for a transition to a constitutional democracy under the direction of his son Seif al-Islam el-Qaddafi, a diplomat and a Libyan official briefed on the plan said Sunday, the New York Times reported.
The ECB is this week expected to lift rates by 25 basis points in a bid to reign in inflation despite ongoing fears over the financial health of Portugal, Ireland and Greece.
European shares were set to dip on Monday, consolidating after hitting three-week highs in the previous session, with weak copper prices likely to put pressure on heavyweight mining stocks.
A Libyan government envoy has begun a trip to Europe to discuss an end to fighting, but gave no sign of any major climb down in a war that has ground to a stalemate between rebels and forces loyal to Muammar Gaddafi.
It is all but certain that the ECB will raise rates this week. It has been itching to do so for some time. Now that the moment has arrived, what will the move actually mean for the euro zone and the global economy?
The Greek government has declared war on its super-rich tax evaders, confirming Friday that it will chase taxpayers who own swimming pools, yachts and island homes.
European stocks were indicated to open higher on Friday, the first day of the second quarter, with investors eagerly awaiting the U.S. non-farm payroll numbers for March.
The stress tests, due to be published later Thursday, are expected to show the country's banks need more liquidity support than first believed, but even so, some analysts say they will still be insufficient.