London (CNN) – We are now well into Olli Rehn’s 10 days to save the euro and the tempo is heating up.
Mario Draghi, the new European Central Bank president, has tantalizingly hinted he will do more to help out provided euro-member countries start the process of economic unification. As he put it, the sequence of events matters. In our language: Don’t put the horse before the cart.
For Europe’s leaders the promise that the ECB will ride to the rescue is sweet music, perhaps even for Germany’s Merkel and the Bundesbank who are demanding a move to fiscal union as the only preferred long-term solution.
(CNN) – Turn on CNN, open the ‘papers, check your emails. If you hadn’t noticed yet, the European economy is pretty close to crumbling around us. Or is it?
Meet the shining stars of the European business world and the big picture is more boom than doom. At least that was the message we got at the European Business Awards in Barcelona.
The Marketplace Europe team headed to Barcelona for the Awards ceremony this week. The event is designed to showcase innovation, drive and resourcefulness from companies of all sizes, nationalities and sectors around Europe.
So far, so predictable. But what made it more than just another date in the November “events season” diary was that we weren’t baffled by power-point presentations or bored with a load of corporate-speak. We were buoyed by the upbeat mood.
London (CNN) – Europe’s internet economy is growing, but the continent lags far behind Silicon Valley’s high tech community in the U.S.
And while there are plans are afoot to level the playing field, Europe might want to be careful what it wishes for. Growing this sector may be painful.
Europe has pockets of highly-skilled and innovative brains in various cities around Europe: Silicon Docks in Dublin, Silicon Sentier in Paris, corners of Vienna and East London. But it takes more than bits of modern architecture and a few flat-screens to create the business environment for big-scale, global, web-based success.
Editor's note: As world leaders gather in Cannes for the G-20 summit, CNN's Diana Magnay and Phil Han are traveling around Europe this week to talk to European youths about the economic crisis.
Marseille, France (CNN) – All week, Diana Magnay and I have been crisscrossing our way across parts of Europe to gauge how young people have been reacting to the eurozone crisis, but today, something quite unexpected happen.
We had driven some five and a half hours from Milan through torrential rain and high winds to finally make it to Marseille in the south of France for our next pit stop. All morning we were keeping on top of the latest coming out of Greece over rumors that the Prime Minister might call it quits, but nothing concrete had emerged.
Both us went ahead with the plan to hold our third social media town hall at the EuroMed Management campus with several young people who would share their frustrations, angst and anger. FULL POST
(CNN) - Have you ever been to an event where you felt out of place?
You toy with the option of going home. Cocoa and slippers suddenly regain their appeal.
Then again, you might get some benefit from staying: you might meet someone interesting – your knight in shining armor.
When you do finally head for the door it turns out to be locked and your only alternative is creeping out of the window (hopefully unnoticed).
That is the situation Greece is facing today. FULL POST
London (CNN) - At last we have the battle-cry from the City of London, claiming its crown as Europe’s financial center. That’s despite Frankfurt’s fabulous financial futures set-up and the growing over-the-counter derivatives clearing capability in Paris. It’s about time Britain loosened its stiff upper lip to assert its place in Europe.
British PM David Cameron, shadow finance minister Ed Balls, Xavier Rolet, CEO of the London Stock Exchange and others have taken to the airwaves recently to hail London as the center of financial services in Europe.
The UK remains outside the single currency club, but it doesn’t escape challenge from its European peers. As Hubertus Vaeth, MD of Frankfurt Main Finance, tells Marketplace Europe: “Frankfurt is the main finance center …. we clearly have Russian banks coming in, we have Eastern European banks coming in.”
Cannes, France (CNN)- It wasn't the kickoff to the Cannes G20 summit that we'd expected.
The official opening Thursday was hijacked by an emergency meeting late Wednesday evening hastily arranged by host French President Nicolas Sarkozy. In the dock: the Greek PM hauled in front of European leaders and banking chiefs to answer charges that he was jeopardizing the entire eurozone project after his shock announcement to call a referendum on the October 27 European Debt deal.
Things couldn't be worse, right?
Well maybe not. FULL POST
Germany (CNN) – I thought that building trains would be a greasy, oily, noisy business. But as Marketplace Europe discovered on a trip to Germany, building trains is tidy - the messy bit is figuring out how to get them travelling easily across Europe's borders.
When we arrived at Siemens Rail systems factory, just outside Dusseldorf - the home of 2,000 workers - it was like we had landed inside a giant train-set. It was neat, shiny and bright.
Building trains in the 21st century is pretty much mess-free. Apart from welding and painting, it is all about assembling component parts, rather like wiring a highly complex computer - albeit one that will move at 300km per hour.
Editor's note: Watch Frederik Pleitgen at Adidas headquarters during Marketplace Europe, on CNN International, October 20 at 18:45 GMT.
Herzogenaurach (CNN) – It is always good to see companies that live the philosophy they try to sell.
For German sports and clothing firm Adidas, that is an active, dynamic lifestyle. Enter the company's headquarters in Herzogenaurach, near Nuremburg in Bavaria, and the place looks more like a giant activity centre then an office complex for human resources and marketing departments.
There's a beach volleyball court, running tracks and even a soccer stadium that seats about 2000.
London (CNN) – So, the word is eurozone leaders may be ready to quadruple the region’s bailout fund and write down 50% of Greece’s debt. This, as a final fix for a crisis that continues to overshadow the single currency a decade after its introduction.
Investors reacted with cautious optimism thanks to the sheer size of the financial commitment and finally an acknowledgement that Greece doesn’t have a hope of paying off all of its existing obligations.
As ministers move to hammer out a concrete plan, investors point to a few questions that still remain unanswered:
1) Will it be enough?
2) How soon will the measures pass?
3) Is it too late?
About Business 360
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