Greece's Prime Minister George Papandreou told CNBC Thursday that his country has to make substantial changes to recover from its devastating financial problems.
China is here in Davos—big time. It’s here in numbers, here as a topic for hallway chatter and here as an issue at every major plenary session.
There are huge debt problems brewing in Europe, and Greece, in particular, may have to overreact to defend itself, says Harvard professor Kenneth Rogoff.
The world debt overhang is threatening the world recovery, because markets will realize at some point how risky it is and the yields on bonds will increase, Niall Ferguson, professor of history at Harvard University, told CNBC Thursday.
There is a "serious risk" the global economy could slip back into recession if world wide government stimulus measures are taken away, George Soros, chairman of Soros Fund Management, told CNBC Wednesday.
Withdrawing economic stimuli and tightening monetary policy are difficult choices, but asset bubbles are cropping up, Nouriel Roubini told CNBC in Davos.
The European Central Bank will start phasing out the measures it took to boost liquidity at the height of the crisis and it cannot cater to the needs of individual countries with problems, Axel Weber, ECB governing council member, told CNBC Wednesday.
The budget problems of EU members Portugal, Ireland, Greece and Spain have made the unflattering acronym, PIGS, common parlance in global economic circles, such as that of the World Economic Forum's annual meeting in Davos, Switzerland this week.
The country's budget slashes pay in the public sector and is now being seen as the model that countries such as Greece need to mimic.
Ireland's government should be tougher on striking "overpaid" public workers if it wants to help the country get out of the economic recession, Ryanair CEO Michael O'Leary told CNBC Thursday.
Debt crisis! Public Spending out of Control! Bond Market Panic! Eurozone Collapse Fears! These headlines and many others of the same ilk are often used to describe situations akin to the present one facing the Greek economy.
Greece does not pose a systemic risk to the broader euro-zone area, according to ratings agency Fitch, which has twice downgraded Greek sovereign debt and still maintains a negative outlook on the country.
The euro has been very good for Greece and the possibility of the country exiting the euro zone, as some analysts speculated recently, is "absurd," Greek Finance Minister George Papaconstantinou said Wednesday.
Greece needs to act on fraudulent reporting and political meddling of statistics to regain its credibility in the eyes of the European Union, Swedish Finance Minister Anders Borg told CNBC late Tuesday.
Greece is in dire need of a modern day Leonidas. The country is facing present day foes equal perhaps to Sirens, Minotaurs and snake-haired Gorgons all added together.
The European Union finance ministers will try to pin down Greece on its strategy for reducing its huge deficit and plans to reform its statistics office.
'Bond vigilantes' are selling Eastern European, Dubai, Irish and Italian debt and at some point will go for bigger bait, Guy Monson, managing partner and CIO of Sarasin & Partners, told CNBC late Monday.
Despite lots of talk about sovereign debt default in 2010, IHS Global Insight said Monday there is very little chance of major problems over the coming year.
Don't lump the UK in with countries like Greece and Iceland, at least where debt is concerned, Vanessa Rossi, senior research fellow at Chatham House, told CNBC Monday.
Greek Finance Minister George Papaconstantinou told CNBC that his country is not looking for a financial bailout and that comments made by European Central Bank board member suggesting Greece may need one were “frankly not very helpful.”