Germany's Angela Merkel makes her second trip to China in half a year this week, hoping to strengthen booming trade ties and obtain assurances from Beijing that it will support the fragile euro zone by buying the bonds of its stricken southern members.
Germany's resistance to a banking union and stimulus measures is in the way of a solution to Europe's debt crisis, and could turn this week's meeting of the region's leaders into a 'fiasco', according to billionaire investor George Soros.
Bruno Verstrate, CEO of Lakefield Partners, tells CNBC-TV18 that the European Central Bank could enter the market before the Greek elections so as to curb volatility.
Investors showed scant faith in Greece's ability to cut its colossal debt after an auction on Monday which handed insured holders of defaulted bonds a large payout.
Richard Gibbs, global head, Macquarie Securities tells CNBC-TV18 that with the ECB prepared to actually participate in the Greek private debt holders swap, it would eliminate another 11 billion euro of that debt.
The European Central Bank is no closer to agreeing on whether or not it will take losses on the Greek bonds it owns following a late night meeting on Wednesday.
Eurozone finance ministers will decide on Monday what terms of a Greek debt restructuring they are ready to accept as part of a second bailout package for Athens after negotiators for private creditors said they could not improve their offer.
Fears of a Greek default that could spark a global market contagion dragged down stocks on Monday, knocking European equities to two-year lows and sending the euro to a seven-month low against the dollar.
Growing fears of a Greek default sent a hurricane through heavily exposed French banks on Monday and hit the euro as investor confidence in the European currency area's ability to surmount a sovereign debt crisis ebbed.
David Buick, Partner, BGC talks to CNBC-TV18 about how he reads the US President’s job speech and its implications on global markets.
The European Central Bank raised interest rates for the second time this year on Thursday, tightening policy to address above-target inflation in the eurozone despite the intensifying debt crisis in Greece.
For the past week, the tiny Peninsula of Greece has once again become the centre of global attention. Just one year ago the European Union granted Greece a 110 billion euro package to meet its debt obligations, in the hope that Greece will solve its problems in a year and be able to borrow on its own.
Euro zone finance ministers gave Greece two weeks from Monday to approve stricter austerity measures in return for another 12 billion euros in emergency loans, piling pressure on Athens to get its ragged finances in order.
The European Union is racing to draft a second bailout package for indebted Greece to release vital loans next month and avert the risk of the euro zone country defaulting.
China's growing global economic footprint was on display on Tuesday, with a Greek minister saying Beijing will help his country overcome its debt crisis and a Brazilian official brandishing a big jet order from Chinese airlines.
Has the time come to buy some of the world's most unloved investments, such as Greek bonds, and stick them in the bottom drawer?