The head of Germany's Bundesbank has warned the European Central Bank against straying beyond its remit, as the bloc's central bankers gathered on Wednesday night to discuss a possible plan to re-start intervention in government bond markets.
Spain has come under heavy pressure in the bond market this week as investors grow increasingly convinced that the government will need a bailout.
Spain appears to have crossed a red line in the bond market, where investors are increasingly convinced that the government will need to be bailed out.
The European Central Bank lowered interest rates Thursday to all-time lows but did not introduce any unconventional moves to stimulate economic activity.
The International Monetary Fund on Thursday challenged Berlin's game plan for pulling the eurozone out of its crisis by advocating a series of short-term fixes that the German government has resisted.
The IMF managing director on whether German Chancellor Angela Merkel has gotten unfair push back because she is a woman.
Global leaders promised Tuesday to support economic growth and create jobs as the financial turmoil in Europe continues to undermine confidence around the world.
CNN's Al Goodman explains what Spain's credit rating downgrade means for the country's economic future.
Greek voters will have a second chance Sunday to elect a government that can hopefully pull the nation back from the brink.
George Osborne on Thursday night announced plans for a £100bn support programme for the British economy, as he battened down the hatches for a worsening "eurozone debt storm".
Eurozone finance ministers will hold a conference call Saturday as concerns grow over the state of Spain's ailing banking sector.
European Central Bank officials voted Wednesday to hold interest rates steady, even as the debt crisis in the euro area intensifies.
Will the future of the eurozone be decided at thousands of ATMs across the continent? That may be a stretch, but Spaniards and Greeks are withdrawing billions of euros from their bank accounts and sending them somewhere "safer."
With Greece probably heading for an exit from the euro, the European and global economies may be facing disaster. However, there is still time for European leaders to reverse this destructive dynamic with one simple, outside-the-box solution: Instead of pushing Greece out of the eurozone, Germany should voluntarily withdraw and reissue its beloved deutsche mark.
The International Monetary Fund has called on the Bank of England to cut interest rates and resume printing money to boost demand in the economy. It has also asked the UK government to prepare a Plan B for deficit reduction if these measures do not work.
European Central Bank officials voted Thursday to hold interest rates steady, even as the euro area economy slides towards recession. But ECB president Mario Draghi appeared to hint that there could be rate cuts in the future.
European leaders said they believed the ?200bn increase in their fiscal rescue fund agreed on Friday would be enough to persuade non-eurozone countries that Europeans had "done our homework" and lead them to supplement eurozone efforts by building their own global firewall against contagion.
Estonian Prime Minister Andrus Ansip says the country has benefited since adopting the euro just over a year ago.
CNN's John Defterios explains how emerging markets are countering Europe's debt crisis.
The European Central Bank offered a slightly more pessimistic outlook for the eurozone economy Thursday and said it expects inflation to rise this year on higher oil prices.
Germany's economic rebound, which has helped counter gloom created by Europe's debt crisis, was set back in January by an unexpectedly sharp fall in industrial orders, especially from beyond the eurozone.
The European Central Bank announced Wednesday that banks borrowed €529.5 billion, or $712.4 billion, under a highly-anticipated lending program aimed at preventing a credit crunch in Europe.
After unleashing a wave of liquidity earlier this year, the European Central Bank is set to offer European banks another chance to soak up billions of euros in cheap loans.
European leaders have taken "substantial" steps to contain the eurozone debt crisis, but they need to build a stronger financial firewall to ensure the safety of the global economy, top finance officials said Sunday.
Eurozone finance ministers sealed a deal Tuesday morning for a second bailout for Greece, including ?130 billion ($173 billion) in new financing.
With the second bailout for Greece, the European Union has changed forever. CNN's Jim Boulden explains.
Eurozone finance officials remained behind closed doors late Monday as a crucial round of talks over a second bailout for Greece looked set to run late into the night.
The euro slid to a one-month low Thursday, after Moody's put a number of European financial firms up for review.
European finance ministers expect to make a decision on a second bailout for Greece early next week, a top eurozone official said Wednesday.
Hooded youths tossed stones and police fired stun grenades Friday in front of the Greek Parliament as lawmakers faced tough new conditions they must meet before euro zone finance ministers will give them billions of desperately needed euros to bail out the debt-ridden country.
Eurozone finance ministers dismissed as incomplete a reputed ?3.3bn package of Greek budget cuts presented to them in the hope of securing a new ?130bn bail-out and sent the country's finance minister back to Athens with a fresh set of demands and an urgent deadline.
After wreaking havoc in global financial markets last year, the debt crisis in Europe has entered a complicated new phase in 2012.
Richard Quest talks to Jean-Claude Trichet, fmr. pres. of the European Central Bank, about solving the Eurozone crisis.
The International Monetary Fund lowered its outlook for the world economy on Tuesday, and warned that the global financial system faces growing risks from the debt crisis in Europe.
Greece and its creditors in the private sector are grappling over a key detail of a deal aimed at reducing the nation's overwhelming debt load, according to a top eurozone official.
The director of the International Monetary Fund said Monday that Europe needs a stronger financial firewall to stop the spread of debt contagion in the eurozone.
It has now been certified officially: Germany is special, at least in the eyes of ratings agency Standard & Poor's.
German Chancellor Angela Merkel meets Italian PM Mario Monti as the euro debt crisis threatens to escalate.
Standard & Poor's said Friday that it has downgraded the credit ratings of nine euro area governments, including AAA-rated France and Austria.
Germany's economic recovery went into reverse at the end of last year but the country still notched up 3 per cent growth in 2011 -- twice as fast as in the US and the rest of the eurozone.
Italian bond yields rose above 7% on Friday as worries about the government's debt problems resurfaced.
European Central Bank President Mario Draghi dismissed the idea that the euro currency could break up, even as the ECB issued a report about the rising contagion risks posed by the sovereign debt crisis.
Early Friday morning, a group of European politicians issued a statement, and knees jerked in financial markets around the world.
As European leaders unveil their latest plan to solve the debt crisis, economists and market experts aren't convinced they'll actually be successful.
The European Central Bank took steps Thursday to revive the ailing European economy and ease credit conditions for troubled eurozone banks.
Banking regulators said Thursday that European banks need to raise nearly €115 billion by June as pressure mounts for political leaders to come up with a workable plan to resolve the debt crisis.
Standard & Poor's said Monday that it placed 15 members of the euro currency union on review for a possible downgrade as the debt crisis in the eurozone continues to worsen.
The head of the European Central Bank offered hints Thursday about the No. 1 question in Europe: Will the bank step up and do more to calm the bond markets?
In the increasingly desperate search for the proverbial big "bazooka," European policy makers are now exploring ways for the International Monetary Fund to help contain the eurozone debt crisis.
Under pressure to avert a financial meltdown, European leaders are working on a new plan to ensure fiscal discipline across the euro area.
European economic growth was once again virtually nonexistent in the third quarter, further raising the risk that the continent could soon fall into a new recession.
French PM's prediction raises questions over eurozone's future. CNN's John Defterios reports.
German and French economic growth rebounded in the third quarter of this year, putting the countries in slightly better shape to withstand a looming eurozone recession.
The uncertainty over Greece's continuing role in the eurozone weighed heavily on Asian markets Thursday, but European markets ended higher in reaction to the European Central Bank's decision to cut interest rates.
Greece's economy has been in a mostly downward spiral since the country joined the euro in 2001.
Standard & Poor's Ratings Services downgraded 24 Italian financial institutions on Tuesday, including seven of its major banks.
The clock is ticking for Europe.
In the latest blow to the European banking sector, Standard & Poor's on Tuesday announced negative rating actions on 15 Spanish banks.
International monitors in Greece completed a review of the nation's finances, and said the latest installment of Greece's €110 billion bailout could be disbursed in early November.
The leaders of Europe's two largest economies have said they've agreed on a "comprehensive package" of measures to address the eurozone sovereign debt and banking crisis, but they did not give any details.
U.S. stocks rallied for a third straight day Thursday, as investors turned optimistic, following the European Central Bank's latest policy measures aimed at boosting liquidity in the European banking system.
European stock markets rallied for a third day Thursday as talk of government support for troubled banks grew louder.
The European Central Bank announced a series of "non-standard" policy measures Thursday, aimed at increasing liquidity in the European banking system. But the central bank stopped short of lowering interest rates.
Asian and European stocks tumbled Monday on fresh worries about the eurozone debt crisis and the dim outlook for global economic growth.
The window for resolving the eurozone's sovereign debt crisis is closing more quickly than policymakers anticipated.
As if the European markets needed more bad news, Moody's Investors Service downgraded eight Greek banks on Friday.
UBS says an "unauthorized trade" has caused a $2 billion loss. CNN's Nina Dos Santos reports.
A rogue trader has cost UBS an estimated $2 billion, the Swiss banking giant announced Thursday, revealing what could be the third-largest loss of its kind in banking history.
A coordinated move by five major central banks Thursday helped calm fears in global financial markets about the shaky European banking system.
European leaders are under intense pressure to come up with a long-term solution to the debt problems straining the European Union to its breaking point.
Amid worries that the latest bailout for Greece could unravel, Eurogroup President Jean-Claude Juncker said Monday that Finland's objections will not derail the rescue effort.
After a summer fraught with uncertainty, investors in Europe returned this week from holiday to find the eurozone sovereign debt crisis may actually be getting worse.
Police in London charged Kwaku Adoboli -- the suspected rogue trader who may have cost Swiss bank UBS $2 billion -- with fraud by abuse of position and false accounting Friday.
With the eurozone's financial health hanging in the balance, U.S. Treasury Secretary Timothy Geithner huddled with European finance ministers in Poland Friday in search of a way out of a debt crisis that is imperiling economies worldwide.
Europe's leaders and U.S. Treasury Secretary Tim Geithner are meeting in Poland amid a deepening debt crisis.
Treasury Secretary Timothy Geithner is attending a meeting of finance ministers in Poland on Friday amid growing concern over the worsening debt crisis in the eurozone.
Police in London were on Friday questioning a suspected rogue trader arrested after Swiss banking giant UBS discovered an estimated $2 billion worth of unauthorised deals.
French and German leaders will meet in Paris to discuss the eurozone debt crisis. CNN's Nina Dos Santos reports.
If you think the markets have been ugly in the United States for the past eight days, you obviously haven't looked at Italy.
Moody's Investors Service downgraded Greece again Monday, to one class above default, following a new bailout package from its European neighbors.
Yonghao Pu, Chief Investment Strategist at UBS, discusses how the Greek debt crisis affects the Asian markets.
French Finance Minister Christine Lagarde just wrapped up two days in China, her latest stop on her world tour to woo emerging nations to support her candidacy for chief of the International Monetary Fund.
CNN's Jim Bittermann highlights a key female figure in France, as questions abound from the arrest of Dominique Strauss-Kahn.
European stocks moved sharply upward Tuesday amid speculation the European Union could provide additional aid for Greece, while Asian stocks rallied on strong manufacturing data from Japan.
French Finance Minister Christine Lagarde paid a visit to Brazil's capital Monday, making overtures toward developing nations to support her bid to become the first female president of the International Monetary Fund.
The French finance ministry came under a large-scale cyber attack in December that targeted G20 documents, France's Budget Minister Francois Baroin told French radio on Monday.
The European sovereign debt crisis may be off the front pages while all eyes are on Egypt, but that doesn't mean its problems are any closer to being solved.
CNN's Max Foster talks to Portuguese FM Fernando Teixeira Dos Santos about Portugal's moves to avoid an EU bailout.
Estonian Prime Minister Andrus Ansip explains the timing of Estonia joining the eurozone.
Economist Jim Power explains how Ireland got into this financial crisis and says the bailout has been long overdue.
Europe and the International Monetary Fund are in the process of finalizing a rescue package worth up to 100 billion euros to bail out Ireland's banking sector. What are the implications of the bailout for Irish people and the rest of the world?
As Europe and the International Monetary Fund hammer out the the final details of an Irish rescue package worth tens of billions, the British government Monday offered a direct loan to Ireland worth $11.3 billion (£7 billion).
Ireland has formally requested substantial "financial assistance" from the European Union and International Monetary Fund to buttress the government and bolster its struggling banking sector, Prime Minister Brian Cowen said Sunday night.
Ireland has formally requested substantial "financial assistance" from the European Union to buttress the government and bolster its struggling banking sector, Prime Minister Brian Cowen said Sunday night.
Ireland's government and central bank revealed on Thursday that the cost of bailing out the country's crisis-stricken commercial banks could now be as much as €50 billion ($69 billion).
CNN's Frederik Pleitgen asks economist Joerg Rocholl about the reasons behind Germany's second quarter growth spurt.
The Germans are known to be pessimists, so it is probably no wonder that the announcement of record growth in the first quarter of this year didn't excite too many people in one of Berlin's main shopping areas at the Kurfürstendamm.
CNN's Jim Boulden discusses Ireland's plan to set up a "bad bank" where some toxic loans will be transferred.
CNN's Jim Bitterman interviews French Finance Minister Christine Lagarde.
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