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PIMCO's CEO and co-CIO Mohamed El-Erian has sounded bells on what he believes are fundamental compromises that could thwart progress on the continued world crisis. In an article appearing on Project-Syndicate.org, Dr. El-Erian refers to two areas where the United States and Europe may be colluding...

In recent weeks, chatter in Europe has increasingly turned to the so-called "Tobin Tax". Named after Nobel award winning economist James Tobin who first proposed to regulate international currency markets, this tax would affect financial transactions. Advocated by Germany and readily supported...

Earlier today Norges Bank, the central bank of Norway, announced that it would cut the key policy rate by 25 basis points to 1.5%. The central bank also said that "a substantially stronger krone may also result in further interest rate cuts." The announcement shook the currency market and USD/NOK...

The leaders of most European Union countries signed a new fiscal treaty aimed at preventing another sovereign debt crisis from happening. The leaders also hope that the treaty, also referred to as the fiscal compact, will reassure the markets that troubled euro zone members like Spain and Italy...

There was more bad news out of Europe on Thursday when the European Union's statistics agency Eurostat announced that unemployment in the euro zone had climbed to a euro era record high and inflation was on the rise too. Eurostat said that unemployment across the euro zone had reached 10.7 percent...

The European Central Bank provided euro zone area banks with another 530 billion euros ($712 Billion) in cheap loans on Wednesday. The European Central Bank (ECB) hopes that the low interest loans that it gave to 800 euro zone banks will give the euro zone economies a boost and lower the borrowing...

Germany's Jurgen Stark was interview on CNBC earlier today. Stark addressed the ongoing situation in the Eurozone. Overall, Stark stated that that structural reforms were needed, and that the people living in indebted countries were aware of the needed reform. Stark stated that European...

Royal Bank of Scotland reported a wider than expected loss for 2011, fueled in part by a write down on Greek debt and compensation to customers who were sold insurance that they didn't need. Royal Bank of Scotland (NYSE: RBS), which is the United Kingdom's second biggest bank, reported a net loss...

Greece and finance ministers from the other 16 euro zone countries agreed to terms for Greece to receive a 130 billion euro ($172 billion) aid package that they hope will help Greece to avoid a default on its burdensome debt. Although the latest deal between Greece and the finance ministers is...

Despite getting bad publicity from Moody's Investors Service recently, France and Spain both conducted bond auctions on Thursday that the two countries deemed successful. Earlier this week Spain was downgraded and France was put on downgrade watch by Moody's but the two Eurozone countries managed...

The Bank of England decided last Thursday to continue its monetary policy based on quantitative easing. Partially due to the weakness of the Eurozone countries, the Bank of England committed to issuing another 50 billion pounds through QE to improve liquidity, so businesses can take out loans and...

On Monday, the yield on the 5-year Portuguese note spiked. The yield hit a record for the post-euro era of 22.69%. The trade may have been fueled by the turn of events in Greece. The general perception of the market may be to accept Greece's default as a given. Last year, markets appeared...

Friday the thirteenth lived up to its ominous reputation as far as the Euro is concerned. The common currency of a union long haunted by financial inviability hit lows not seen in 17 months today driven by S&P sovereign downgrade rumors and halted talks on Greek debt. To a lesser extent,...

On Thursday, the European Central Bank opted to keep its key interest rate unchanged at 1%. The EUR/USD pair rallied, breaking above $1.28 in early trading. In a subsequent press conference, the president of the ECB—Mario Draghi—spoke of his expectations for the Eurozone and the state of the...

At 7:45 a.m. ET, the European Central Bank announced its interest rate decision, which was left unchanged at 1.00%, in-line with estimates. The statement from the ECB's website, "At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations...