Euro zone member states must meet their commitments on budget stability and cannot be bailed out by the euro zone, French Finance Minister Christine Lagarde told CNBC in Davos on Friday.
The tax on banks proposed by President Barack Obama is likely to become law, while a proposal to set up a fund for unwinding troubled financial institutions has little chance of succeeding, Rep. Barney Frank, D-Mass., told CNBC Friday.
Officials in Davos should try to reach a global consensus about the need for a new regulatory regime for banks, Nobel Prize laureate Joseph Stiglitz told CNBC Friday.
The current levels of budget deficits in both Europe and the U.S. are not sustainable and Europe's economic recovery will only be modest, European Central Bank President Jean-Claude Trichet told CNBC Thursday.
Applied Materials CEO Michael Splinter cited strong demand in Asia and in the semiconductor business, offering an “optimistic” outlook on business conditions.
President Barack Obama's proposals to impose a levy on large banks would only work if it was agreed globally and financial regulations set out at the G20 summit should be put in place first, UK Chancellor of the Exchequer Alistair Darling told CNBC Thursday.
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.
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.
We have taken the difficult measures needed—in public administration, health care, and education—and will prove the skeptics wrong.
Organizers may have created a low-carbon, green zone for the occasion of the 40th annual global gabfest in the Swiss mountain two on Davos, but it may no longer be the best environment for high-profile chatter on climate change.
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.
Monetary policy will be a hot topic at conference, where participants will no doubt be debating who first, how much and when.
President Barack Obama may have just spiced up the debate about global banking regulation, but the prospects for success for the president’s latest initiative remain mired in the challenge of a combative Congress and a fierce Wall Street lobby.
At this year’s Davos, I think it is important we enter this meeting with the idea of change. There are plenty of signs of change, but we are still struggling with how to deal with it. In some cases, we are in complete denial.
The global financial crisis, at its heart, has turned out to be a crisis of values and trust. At the grass roots level, people feel that corporations, driven by individual and/or organizational greed and the pursuit of profit, will stop at nothing to achieve these goals – even at the risk of bringing down entire global economic systems.
A year ago, the opinion makers at the annual World Economic Forum in Davos were so riveted by fears of global warming that they paid little attention to another threat. Not this year.
The World Economic Forum's closely watched Global Risks report says there's a "significant chance" of a second financial crisis, but, hey, things are looking a lot better than they were at this time last year.
Developing economic powerhouses like China, India and Brazil will lead global growth this year, while the US, Europe and Japan will lag.
Warren Buffett's Berkshire Hathaway will take on some risk that a cautious Swiss Re doesn't want right now, in a deal strengthening ties between the two companies.