The European Central Bank (ECB) was urged to slash the euro zone base rate to one percent as the European debt crisis threatened a second recession but high inflation makes such a move unlikely.
Insight into what is next for Greece and discussing the steps the European Union has taken to lever global debt, with Kyle Bass, Hayman Capital Management managing partner and CNBC's David Faber at the Barefoot Economic Summit.
The British Prime Minister David Cameron defended the coalition government’s austerity plans on Wednesday telling delegates at the Conservative party’s annual conference in Manchester: “Our plan is right, and our plan will work.”
When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.
It would be better if policymakers let a disorderly default of Greece take place and recapitalized banks, an analyst told CNBC Wednesday.
As strikes threatened to bring struggling Greece to a standstill Wednesday, pessimism about the future of the euro zone — in its current form at least — continued to plague the Continent.
As the Spanish economy fails to drag itself out of the mire created by its debt burden, its Employment Minister Valeriano Gomez admitted to CNBC that it would likely miss growth targets this year.
The euro zone was launched on a wing and a prayer. The wing has fallen off and the deities are not listening to prayers. Everyone focuses on averting a crash. But it is as vital to ask how to fly securely, the FT reports.
The Franco-Belgian lender may be poised to set assets worth more than EUR180 billion into a so-called bad bank, a vehicle backed by guarantees from the French and Belgian governments, according to a report in The Wall Street Journal.
Goldman Sachs analysts cut their outlook for the price of Brent oil and for copper going into 2012, saying that they see "a flatter upward trajectory for commodity prices, with increasing risks to both the up and the downside."
Debt problems within the euro zone remain at the "epicenter" of investor concerns, but worries over a slowdown in China and the sluggish US economy also both pose threats to already volatile markets in the fourth quarter, Lucy Macdonald, CIO and head of global equities at asset manager RCM told CNBC.
Credit default swaps (CDSs) have emerged blinking from computers in glass-fronted offices into the limelight in recent years.
The UK’s finance minister, Chancellor of the Exchequer George Osborne vowed to continue the coalition government’s austerity program on Monday telling delegates at his Conservative party’s annual conference in Manchester, UK, that Britain would “ride out the storm.”
Undervalued stocks will represent opportunities for long-term investors in the final quarter of the year and are not necessarily an indication of a return to the stock market slides of 2008/2009, according to strategists and investors.
Fitch ratings agency on Monday revised down its growth forecasts for all major advanced economies, and said it expected growth in emerging economies to slow as well due to financial market volatility which has dented confidence and caused a drop in private consumption and business investment.
Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.
Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF.
Greece and debt inspectors have apparently agreed that older civil servants near retirement age will bear the brunt of personnel cuts in the public sector, according to media reports.
For bank investors, the third quarter is one they’d rather erase from their minds – and portfolios alike. European banks were down by more than 25 percent and saw their worst performance since the fourth quarter of 2008, when the collapse of Lehman brothers shook the markets.
The 17 European countries that make up the euro zone face a 40 to 50 percent chance of recession by the end of the year, economists at Goldman Sachs predict, adding that “at best, the European recovery looks to be weak and hesitant”.