Markets across Europe fell Thursday morning as negative sentiment about the European Union summit on Sunday spread.
The existence of a crisis for the euro has almost become accepted fact of life in the past few months, with some of the countries in the euro zone struggling with high levels of sovereign debt and the future of the single currency itself questioned.
Greece will default, U.S. economist Martin Feldstein told CNBC Wednesday, and it might be good for the country to leave the European Union.
Demonstrators on Wednesday threw stones and gasoline bombs at police outside parliament during a two-day general strike that unions described as the largest in years.
Tens of thousands of protesters rallied in front of the Greek parliament on Wednesday and there were isolated outbreaks of violence as a general strike shut down much of the country ahead of a vote on a painful new round of austerity measures.
Markets seem to be increasingly optimistic that Sunday's European Union summit will help provide some sort of resolution to the euro zone's well-documented problems.To help solve Europe's sovereign debt crisis, a special organization was set up in 2010 called the European Financial Stability Facility, or EFSF. So what is it and how does it work? CNBC explains.
While the headlines brim with tales of the euro zone debt crisis, rising inflation and people like Nouriel Roubini warning of an approaching hard landing in China, there’s evidence that some market players, at least, are getting richer.
The youth unemployment rate is expected to show a "minimal decrease" in 2011 since its peak last year but the young, particularly in areas most hit by the crisis, are struggling to find jobs, the International Labor Organization said in a report released Wednesday.
Most people who have a mortgage are doing very nicely, thank you very much, out of lower interest rates.
Greece has been the butt of jokes throughout the financial crisis, and the implication is always the same: that the Greek people are lazy and don’t like to work.
A 100 percent 'haircut' or write off of Greek debt would be needed to reduce Greece's debts to a manageable level, a senior analyst told CNBC Tuesday.
Putting more capital into the banking system is not enough to solve Europe's financial problems or restore investor confidence, said Josef Ackermann, CEO of Deutsche Bank.
Italian Prime Minister Silvio Berlusconi won a crucial vote of confidence on Friday, giving his struggling center-right government a new, but probably short, lease of life.
As Greece edges ever close to a heavily anticipated default, the European Central Bank needs to step up measures to support growth if it wants to prevent the euro zone from slipping back into recession, Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley told CNBC.com.
Markets are over their fears that the worst will happen in the world economy as investors hope that Europe will finally find some solution to the debt crisis, Wilbur Ross, WL Ross chairman and CEO, told CNBC Friday.
The Nordic country of 5 million people may decide to leave the single European currency and return to its markka if it is forced to cough up funds to support weaker euro zone members, Matthew Lynn, an analyst with Strategy Economics, wrote in a research note on Thursday.
Plans to force Europe’s banks to increase their equity capital to ensure they can withstand the worsening euro zone debt crisis and restore confidence in the sector have been met with criticism from analysts and business leaders, who fear the proposals will lead to dilution for shareholders and a further backlash.
The public sector has borne the brunt of the Greek bailout to date, and the private sector must start making a greater contribution, Angel Gurria, Secretary-General of the Organization for Economic Co-Operation and Development (OECD), told CNBC Thursday. The IMF, or International Monetary Fund, is an intergovernmental agency that works to keep exchange rates and the international system of payments stable.To help solve Europe's sovereign debt crisis, a special organization was set up in 2010 called the European Financial Stability Facility, or EFSF. So what is it and how does it work? CNBC explains.
A bill passed in the US Senate on Tuesday attempting to make it easier for the United States to impose tariffs on goods from countries which are believed to undervalue their currencies is unlikely to be signed into law by President Obama or supported by Republicans in the House of Representatives, Frank Lavin, Chairman at Edelman Asia Pacific and former Under Secretary of Commerce for International Trade told CNBC.
Slovakia will most probably cave in to international pressure and vote for the expansion of the euro zone's bailout fund, but the previous rejection should serve as a lesson, analysts told CNBC.com Wednesday.