Combine a number of countries into a currency union, and the voices of those proclaiming that sovereign default is akin to the arrival of the four horsemen of the apocalypse get louder.
Chinese inflation is biting the Aussie dollar, and a lack of inflation is biting in the U.S. Your daily FX Fix, right here.
Back in 1997, Thailand commenced its own banking crisis. The conventional wisdom was that the Thai economy was too small to affect other countries in the region. Nevertheless, the Asian crisis was soon in full swing, bringing down governments and moving from South East Asia to the whole of the region.
As austerity measures kick in and the euro zone debt crisis begins to really bite voters where it hurts, in the pocket, extreme political parties are becoming mainstream, warns Dylan Grice, a strategist at Societe Generale in Paris.
I know it has been a long and cherished tradition to blame the Germans for just about anything from the end of fox hunting to the trials and tribulations of the euro, but as popular as it may be, trust me, it is not always true, writes CNBC's Silvia Wadhwa reports.
EU policy makers confidently told reporters in Budapest and Frankfurt last week that Portugal will be the last euro zone member in need of a major bailout. The comments were taken with a pinch of salt by those who have watched the contagion spread from Greece, to Ireland and then on to Portugal.
European finance ministers said Portugal must make deeper budget cuts and privatize state firms in return for a bailout that could be agreed by mid-May.
Stress tests on European Union banks this year will use tougher criteria for measuring capital than last year, according to details released by the European Banking Authority Friday.
While periphery euro zone countries are drowning in a sea of debt and investor reluctance, Eastern Europe – which two years ago sent shockwaves through markets – is now shining away from the limelight.
European stocks were indicated to open higher on Friday as the euro nears a 15-month high against the dollar.
Discussing whether the ECB is jumping the gun and the Fed is lagging, with Keith McCullough, CEO, Hedgeye Risk Management. For places like Portugal, Greece and Ireland, he says, things will end badly.
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.
Does raising rates suggest the world's economies are better than they actually are? Renown trader Dennis Gartman weighs in.
When Greg Lippman, the Deutsche Bank who helped birth credit default swaps on mortgage-backed securities, was asked who was selling hedge fund investors insurance on lousy subprime loans, he answered concisely: Dusseldorf.
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.