There has been a lot of protection buying at the moment," Gavan Nolan from Markit said Monday of the sovereign debt market. "There's a lot of uncertainty surrounding Greece's fiscal position, so the markets are looking for clarity first and we're looking at more volatility in the next few weeks.

The UK economy emerged from recession in the fourth quarter of 2009 with 0.1% GDP growth, according to official figures Tuesday. "We've pulled out of recession, that's the main thing," Chris Williamson from Markit told CNBC. Philip Shaw from Investec joined the discussion.

Europe's manufacturing sector grew at a faster rate than expected in November, posting its second straight monthly rise Tuesday. Chris Williamson from Markit has analysis.

The euro zone services sector grew at its fastest pace in 2 years in November. However, economists warn that the pace of recovery will be slow. Rob Dobson from Markit has more.

The UK's third-quarter GDP figures might not be as bad as they first appear and could be revised up at a later date, Chris Williamson from Markit told CNBC Friday. "Economic data is notoriously unreliable," Max King from Investec Asset Management added.

"This recovery is not guaranteed to be V-shaped by any means," Chris Williamson from Markit told CNBC Thursday. Brendan Brown from Mitsubishi UFJ Services and James Caan, CEO of Hamilton Bradshaw Private, joined the discussion.

Euro zone data showed services and factory PMI at their highest levels since spring last year, with the index climbing to 50.6 in September. Chris Williamson from Markit has analysis.

All the euro zone member countries are moving in the right direction, but some are moving faster than others, Chris Williamson from Markit told CNBC Thursday.