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From the monetary fortress of the European Central Bank to the pro-European duchy of Luxembourg, policy makers are beginning to air their doubts that Greece can stay in the euro. “If Greece decides not to stay in the euro zone, we cannot force Greece,” German Finance Minister Wolfgang Schaeuble said at a conference sponsored by [...]

More private sector lenders have signed up to a Greek debt swap deal that may determine whether or not the country can remain in the euro. The banking group leading negotiations said that 39.3% of bondholders have agreed to swap their Greek government bonds for new debt. But 75% in total is needed for the [...]

The second Greek bailout deal was finally clinched in the early hours of Tuesday morning. European markets and the euro were initially expected to rally after the market open – but a troika report leaked to the Financial Times could exacerbate fears in the market that Greece may not be able to hit its bailout [...]

Portugal’s economy minister sought to dispel impressions that the country could follow a similar path to Greece in an interview with CNBC, pointing out that the tough economic reforms it is carrying out enjoy the support of the population and stressing that Portugal will not turn its back on the single currency. Many investors fear [...]

The European Central Bank left its key interest rate unchanged at 1 percent on Thursday but President Mario Draghi promised relaxed rules for banks taking part in a long-term refinancing operation at the end of the month, boosting hopes that additional liquidity will be injected in the system. At the same time, he played his [...]

Greek political leaders struck a deal on a package of austerity measures, clearing the way for a swap to cut the nation’s debt and win its second rescue in two years. Greek Prime Minister Lucas Papademos called European Central Bank President Mario Draghi to tell him “an agreement has been reached,” Draghi said at a [...]

China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis, Chinese Premier Wen Jiabao told journalists on Thursday. But Wen did not made any explicit financial commitments for the European Financial Stability Facility (EFSF) or the upcoming European Stability Mechanism (ESM). At a joint media briefing in Beijing [...]

The European Central Bank won’t solve the euro zone’s debt crisis as long as the European Union behaves like a “dysfunctional” family, Bill Gross, Pimco founder and co-chief investment officer, told CNBC on Tuesday. The main problem is the split between North and South Europe, Gross said: The northern countries have low debt and are [...]

After hitting the highest level since the euro’s creation, unemployment in the 17-member single currency area will show no signs of abating, adding to worries that a prolonged recession may be in the cards, analysts said. Cuts in budget expenditure due to “draconian” austerity programs will lead to big job losses in the public sector [...]