25/01/2012 | Argentina

Yahuar to meet with Liaison Board over drought crisis

Agriculture Minister Norberto Yahuar will meet with representatives of the Liaison Board on Thursday, in what will be the third meeting of the Farming Emergency Committee, which was created to analyze the current drought affecting the country.

14/12/2010 | Argentina

Duhalde says Argentina in 'semi-anarchic state,' urges gov't to enforce the law

Former President Eduardo Duhalde addressed the several land grabs taking place in the south of the city of Buenos Aires and assured that Argentina is currently going through a "semi-anarchic" state, for which "now more than ever," he's certain he will run for president in 2011.

16/06/2012 | Argentina

'Argentina will play a very important role in the G-20 Summit'

Argentine Ambassador to Washington Jorge Argüello stated that the European financial crisis will be the main aspect of the upcoming G-20 summit and that within that context," Argentina will play a very important role based on the country’s experience."

17/01/2012 | Argentina

Drought crisis: Gov't vows financial aid to farming producers

The National Government has vowed to provide farming producers with financial aid and an extension of the tax deadline in at least six provinces, as several regions in the country continue to be affected by the extreme drought.

02/08/2012 | Argentina

'Euro zone crisis resembles Argentina's situation in 2001'

President Cristina Fernández de Kirchner said today that 2the euro zone is undergoing a unprecedented, formidable speculative attack" and likened the situation "to what happened in Argentina in 2011, with the mega debt swap and the plating,” during a ceremony at the City Stock Exchange, to announce the payment of the last installment of the dollar denominated Boden 2012 bonds.

03/08/2012 | Argentina

Gov't makes final payment of Boden 2012

The Government today made its final $2.2 billion payment on bonds issued to savers whose dollar- denominated bank accounts were frozen by the Government a decade ago.

17/10/2012 | Argentina

Lula calls Argentina, Brazil businessmen to build alliances

Brazil's ex President Luiz Inácio Lula Da Silva blasted the "protectionist" measures of the developed l countries and called for an alliance between Argentina and Brazilian businessmen, as he highlighted that the gian neighbor "grows, but with a controlled inflation rate."

02/03/2011 | Argentina

Fire controlled in Puelo Lake after rain

The forest fire that has consumed the Puelo Lake area in Chubut since Monday has been eased by the rain and was finally controlled by fire-fighters. The situation had forced residents of El Hoyo town to evacuate.

12/10/2012 | Argentina

'Argentina doesn't owe a dollar to the IMF'

Argentina's Ambassador in the United States, Jorge Argüello, stated that the International Monetary Fund (IMF) will have to redefine itself after "having abandoned its original role" for which it was created for.

11/05/2011 | Argentina

CFK urges international powers 'to grasp the gravity of the economic crisis'

President Cristina Fernández de Kirchner said that “we are worried by Greece’s complicated situation, it resembles Argentina in 2001” and urged "the great powers change their view on the international crisis."

01/07/2011 | Argentina

CFK blasts credit organizations, announces tax revenue

President Cristina Fernández de Kirchner announced that the tax revenue soared 30.5 percent in June, year-on-year, during the last day of the Central Bank Monetary Conference. The Head of State also referred to the Greek crisis and assured that “the more they delay the solution for the problem, more terrible will be the crisis, as it happened to Argentina in 2001.”

11/08/2011 | Argentina

López Murphy: 'crisis won't have a deep impact in Argentina'

Economist Ricardo López Murphy assured that the economic crisis in the United States was generated because it “underestimated the magnitude of the lack of balance” and added that the “crisis will have a slight impact in Argentina's local consumption,” during the Ámbito de Debate TV show.

20/08/2011 | Argentina

There will be 'no brusque changes' regarding the peso's value, Boudou

Economy Minister Amado Boudou rejected the possibility that Argentina launches a brusque devaluation to make its exports more competitive, in a scenario in which Brazil is considering devaluating it’s currency for the same reason.

24/09/2011 | Argentina

Boudou: 'time for developing nations to find our own solutions to the crisis'

Economy Minister Amado Boudou urged countries in the region to “seize the opportunity created as a result of the crisis affecting developed nations and implement their own solutions.”

07/09/2011 | Argentina

Argentina is 'not untouchable' in the face of global crisis, CFK

President Cristina Fernández de Kirchner warned that in the face of the complicated situation of the global economy, Argentina “is neither untouchable nor invulnerable,” but highlighted that had the crisis hit the country in a different time “it would have obliterated it.”

12/08/2011 | Argentina

Mantega: 'The region's economy is in good shape, and what works well, doesn't change'

Interview by Pablo Jiménez
Prior to the meeting between UNASUR economy ministers, Economy Minister, Amado Boudou and his Brazilian pair, Guido Mantega, met for dinner in Puerto Madero on Thursday night. Inbetween provoletas, asado, both economy heads spoke exclusively with ambito.com about how the region is prepared to face the international financial and economic crises.

29/09/2011 | Argentina

Economist Pablo Rojo: ‘We are witnessing the first signs of recovery of the international crisis”

On the Ambito de Debate TV show, Economist Pablo Rojo assured that “we are witnessing the first signs of recovery of the international crisis” and described the policies enacted by the European Central Bank.

05/10/2011 | Argentina

'The international crisis is affecting Argentina,' De Mendiguren

The head of the Argentine Industrial Union (UIA), José Ignacio de Mendiguren, warned today that Argentina “is starting to be affected” by the global financial crisis, furthering that the country “is not protected” against the situation.

14/10/2011 | Argentina

'Argentina has a margin to face the crisis'

By Liliana Franco and Pablo Jiménez.
The cooling of the Brazilian economy that is beginning to show a slight slowdown index is the main concern of Argentine businessmen, but according to former Economy Minister Miguel Peirano there is still no real effect in Argentina.

11/10/2011 | World

Troika says Greece likely to get aid tranche in early November

Greece is likely to receive an 8-billion euro aid tranche it needs to stave off bankruptcy in early November, EU, IMF and ECB inspectors said in a joint statement today concluding a weeks-long review of the country's finances.

11/10/2011 | World

Russia's Putin says little role for BRICS in euro crisis

Russian Prime Minister Vladimir Putin said that the crisis-hit euro zone had enough resources to resolve its own troubles without support from Russia and fellow BRICs countries.

12/10/2011 | World

EU Commission calls for action on Greece and banks

The president of the European Commission called today for EU leaders to bring forward the introduction of a permanent rescue mechanism for states to mid-2012 from mid-2013 and called for more rigorous capital standards for banks.

12/10/2011 | World

UK unemployment hits highest since 1994

Unemployment in Britain has jumped to its highest level since 1994, with young people hit hardest as private companies fail to make up for job losses in the public sector, piling pressure on the government to boost a stagnant economy.

14/10/2011 | World

Obama, Merkel discuss European debt problems

US President Barack Obama and German Chancellor Angela Merkel spoke by phone to consult about the "evolving financial situation in the eurozone," the White House said.

13/08/2011 | World

UK government says must tackle social problems after riots

Britain needs to tackle deep-seated social problems following riots and looting in English cities this week, the center-right government said, and a US street crime expert it has brought in said arrests alone would not solve the problem.

09/09/2011 | World

Lagarde: 'Policymakers should take more action to support recovery'

Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said today, calling for bold action to weather a "dangerous new phase" of recovery.

12/09/2011 | World

Central bankers see no global recession

Economic growth is slowing but there is no sign of a worldwide recession, according to global central bankers who said they had no plans for concerted action.

26/09/2011 | World

IMF reiterates Greece must shrink state to avoid default

International lenders told Greece today it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets.

26/09/2011 | World

Greece: there were no orderly default talks with IMF, ECB

Greek Finance Minister Evangelos Venizelos dismissed reports that he has discussed a scenario of an orderly default by Athens with International Monetary Fund Chief Christine Lagarde and European Central Bank head Jean-Claude Trichet.

26/09/2011 | World

Obama says eurozone crisis is 'scaring the world'

US President Barack Obama said the debt crisis in Europe was "scaring the world" and that European leaders were dealing with the issue but not as quickly as needed.

27/09/2011 | World

Merkel: Germany to help Greece gain confidence

Germany will do all it can to rebuild confidence in debt-stricken Greece as it implements reforms to meet the conditions of its international bailout package, Chancellor Angela Merkel said.

28/09/2011 | World

EU's Barroso calls on ECB to do whatever it takes in crisis

European Commission President Jose Manuel Barroso urged the European Central Bank to do everything in its power to maintain financial stability in the euro zone, saying the EU faced the biggest challenge in its 50-year history.

29/09/2011 | World

Fed says twist will do little for growth

The Federal Reserve's move last week to further lower borrowing costs was risky and won't significantly speed up a "painfully protracted" recovery, one of the officials who dissented against the decision said today.

29/09/2011 | World

Greece resumes talks with auditors amid protests

Civil servants blockaded several ministries to protest against austerity measures as Greece resumed talks with EU and IMF inspectors on an 8 billion euro aid tranche it needs to avoid bankruptcy next month.

29/09/2011 | World

White House says US supports European actions on debt problems

The White House said that it supports actions that European leaders have taken on their debt problems and urged them to continue.

19/09/2011 | World

Euro zone contagion spreading, World Bank head says

The head of the World Bank said a drop in investor confidence was already feeding through to developing nations from a growing debt crisis in advanced economies and urged "cooperative action."

22/09/2011 | World

Geithner: EU crisis, US politics, biggest threats to economy

US Treasury Secretary Timothy Geithner said that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.

22/09/2011 | World

Obama urges Europe leaders to be forceful on economy

US President Barack Obama urged European leaders this week to take "forceful and decisive" action to confront current eurozone debt problems, White House spokesman Jay Carney said today.

22/09/2011 | World

Oil tumbles more than 4%

Oil prices tumbled more than 4 percent to six-week lows today as the US Federal Reserves weak economic outlook and disappointing China data stirred fears of a global recession and battered markets.

23/09/2011 | World

G20 pledges to take actions to preserve stability

A statement issued after G20 talks in Washington said the 17-nation euro zone would implement "actions to increase the flexibility of the EFSF and to maximize its impact" by mid-October.

23/09/2011 | World

Talk of a possible Greek default gains pace

Greek Finance Minister Evangelos Venizelos was quoted by two newspapers as saying an orderly default with a 50 percent haircut for bondholders was one of three possible scenarios for resolving the heavily indebted euro zone nation's fiscal woes.

23/09/2011 | World

EU says 420 billion euros injected into Europe's banks

European banks have already received 420 billion euros in funds to help recapitalize and are in a much better shape than three years ago, the European Commission said.

24/09/2011 | World

World presses Europe on debt, US warns of bank runs

The United States, China and other countries piled pressure on Europe to comes to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

19/10/2011 | World

Sarkozy says euro zone talks stuck on bailout fund

Plans to tackle the euro zone debt crisis have stalled with Paris and Berlin at odds over how to increase the firepower of the region's bailout fund, French President Nicolas Sarkozy said

20/10/2011 | World

Greece adopts austerity bill amid protests

The Greek parliament approved a painful set of austerity measures on, defying violent protests in central Athens and a general strike which shut down much of the country.

20/10/2011 | World

EU agrees on bank capital needs, split over bailout fund

The European Union has agreed that around 100 billion euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the euro zone's bailout fund.

26/10/2011 | World

Merkel wants EU deal on 50% Greek writedown

German Chancellor Angela Merkel said European leaders should agree on what would amount to a 50 percent write down of Greek debt from the private sector at a summit to tackle the euro zone debt crisis later.

26/10/2011 | World

Euro zone aims to leverage EFSF 'several fold', draft statement says

The euro zone aims to leverage its 440 billion euro bailout fund, the EFSF, "several fold" but finance ministers will only agree the details of how that will be done in November, according to a draft statement to be issued after a summit today.

28/10/2011 | World

EU plan should restore confidence in banks, Fitch says

Europe's plan to halt the spread of a debt crisis will help restore confidence in banks and should leave the senior debt ratings of even most of the weakest ones unaffected, Fitch Ratings said.

31/10/2011 | World

Berlusconi urged to quit as bond yields climb

Prime Minister Silvio Berlusconi faced fresh calls to resign on Monday as markets turned on Italy, pushing its borrowing costs to dangerous new levels on renewed concern about a worsening of the euro zone crisis.

01/11/2011 | World

Sarkozy, Merkel to speak later today

French President Nicolas Sarkozy will call German Chancellor Angela Merkel today after Greece's decision to hold a referendum on a 130 billion euro ($180 billion) bailout, the French president's office said.

02/11/2011 | World

Merkel, Sarkozy say no more aid until Greece decides on euro

Greece will receive no more European bailout aid until it has put an end to uncertainty and agreed to meet its commitments to the euro zone, the leaders of France and Germany said.

03/11/2011 | World

Obama in Cannes: 'Our task is to resolve the financial crisis in Europe'

US President Barack Obama said today during the Group of 20 Summit in Cannes, France, that "the most important aspect of our task over the next two days is to resolve the financial crisis here in Europe."

03/11/2011 | World

Greek PM sets talks with opposition, softens referendum stance

Greek Prime Minister George Papandreou offered today to hold talks with the opposition to resolve the country's political crisis and softened his stance on a referendum on the country's vital bailout package.

03/11/2011 | World

G20: Greek PM ready to go, dump referendum, for euro deal

Fast-moving events in Athens overshadowed the first day of a summit of the Group of 20 major economies on the French Riviera, with anxious world leaders urging Europe to act to stop contagion from its sovereign debt crisis.

07/11/2011 | World

IMF's Lagarde urges euro zone to redouble efforts

The head of the International Monetary Fund urged the euro zone today to redouble efforts to overcome its sovereign debt crisis and said the global economy faced increasing risks of a slowdown.

14/11/2011 | World

Greek conservative leader: 'I won't back more austerity'

The leader of Greece's main conservative group Antonis Samaras said today his New Democracy party would not vote for any new austerity measures and said the mix of policies demanded by international lenders should be changed.

16/11/2011 | World

Obama says lack of political will to solve Europe crisis

US President Barack Obama said today he was deeply concerned about the continued euro zone crisis, blaming it on a lack of political will, and that market turmoil would continue until Europe has a concrete plan to deal with its debt woes.

16/11/2011 | World

European Central Bank steps in to counter bond rout

The European Central Bank stepped in to stem an accelerating sell-off of euro zone government bonds today, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.

16/11/2011 | World

EU's Barroso: euro zone must integrate to survive

The euro zone faces a systemic crisis and will not survive unless it becomes more integrated and disciplined, possibly through a change of the European Union's treaty, European Commission President Jose Manuel Barroso said.

16/11/2011 | World

France, Germany clash over ECB crisis role

France and Germany, Europe's two central powers, clashed over whether the European Central Bank should intervene more forcefully to halt the euro zone's accelerating debt crisis after modest bond purchases failed to calm markets.

17/11/2011 | World

Merkel reiterates her opposition to ECB greater role in crisis

"I am convinced that only political solutions can resolve the situation," Merkel told an industry event in Berlin.

17/11/2011 | World

Greek protests as France, Spain face squeeze

More than 30,000 Greeks took to the streets of Athens in a protest rally that marked the first public test for a new national unity government that must impose painful spending cuts and tax rises if the country is to escape bankruptcy.

22/11/2011 | World

Merkel says treaty changes key to solve debt crisis

Changing the European treaty to pave the way for closer European integration is vital to solving the euro zone's debt crisis and to restoring confidence, German Chancellor Angela Merkel said.

23/11/2011 | World

Greek FinMin: political deal to free aid is imminent

Greece's finance minister said he was optimistic that the country's political parties would do everything necessary as early as today to ensure the release of a sixth aid tranche needed to avert a disastrous debt default.

23/11/2011 | World

Germany and France clash again over ECB role in euro crisis

Germany and France clashed today over whether the ECB should take bolder steps to stem the euro zone debt crisis, with Chancellor Angela Merkel issuing one of her starkest warnings yet against fiddling with the central bank's strict inflation-fighting mandate.

30/11/2011 | World

Top Central banks act as euro zone crisis rages

The world's major central banks acted jointly on Wednesday to provide cheaper dollar liquidity to starved European banks facing a credit crunch as the euro zone's sovereign debt crisis threatened to bring financial disaster.

02/12/2011 | World

Merkel says debt crisis will take years to solve

German Chancellor Angela Merkel called for rapid EU treaty change to remedy the root causes of the euro zone's debt crisis but warned that Europeans faced a long, hard "marathon" to restore lost credibility.

02/12/2011 | World

IMF sees crisis boosting emerging economies role

Major emerging economic powers are "worlds apart" from euro zone countries, International Monetary Fund (IMF) Managing Director Christine Lagarde said while praising Brazil's economic management for leaving the country better prepared than many to weather contagion.

01/09/2011 | World

US has 'enormous' debt problem: ECB's Stark

A debt crisis is still gripping the developed world, European Central Bank policymaker Juergen Stark said, adding there was no alternative but for countries to take painful steps to consolidate their public finances.

06/09/2011 | World

World Bank's Zoellick says double-dip recession unlikely

"I don't believe that the United States or the world will go into a double-dip but there's high degrees of uncertainty," Zoellick told reporters in Singapore.

06/09/2011 | World

UN: Austerity measures to push global economy to disaster

The pursuit of austerity measures and deficit cuts is pushing the world economy towards disaster in a misguided attempt to please global financial markets, the annual report of the United Nations economic thinktank UNCTAD said today.

07/09/2011 | World

Court curbs German ability to act fast on debt crisis

Germany's top court handed its country's parliament a greater say over euro zone bailouts, potentially hampering Berlin's ability to act decisively against a debt crisis which Chancellor Angela Merkel said needed a fundamental rethink to solve.

12/08/2011 | World

Greek recession slows in Q2 but austerity hurting

Greece's severe recession slowed in the second quarter, data showed today, but economists said recessionary pressures would worsen in the second half as new austerity measures bite, jeopardising Athens' ability to meet EU/IMF fiscal targets.

02/08/2011 | World

Italy under fire in widening euro debt crisis

Financial market pressure on Italy intensified, sucking Europe's second biggest debtor nation deeper into the euro area danger zone and prompting emergency consultations in Rome and among European capitals.

10/08/2011 | World

Poll says 73% of US citizens believe country is on wrong track

US citizens by a large majority believe the United States is on the wrong track and nearly half think the worst is yet to come in the economy, a Reuters/Ipsos poll said today.

11/08/2011 | World

Obama vows new growth proposals 'week by week'

President Barack Obama vowed to put out new proposals "week by week" for boosting economic growth and job creation and said Congress needs to complete work on a deficit-reduction plan.

13/07/2011 | World

Fitch downgrades Greece on lack of funding program

Fitch Ratings downgraded Greece deeper into junk territory, citing the absence of a new and fully funded financing program for the country.

18/07/2011 | World

Geithner urges EU act forcefully to contain crisis

"What Europe obviously needs to do is to act more forcefully to contain the risk of an escalating crisis in Europe," Geithner told CNBC television. "They have the capacity to manage this in a way that does not add to the broader burdens of the global economy."

18/07/2011 | World

Obama: Can't let politics obstruct tackling deficit

President Barack Obama said he wants to make sure payroll taxes do not go up for US families next year and that politics should not get in the way of tackling the the US deficit.

21/07/2011 | World

Taxi drivers block Crete, Corfu ports and airports

Greek taxi drivers blocked ports and airports on the popular tourist islands of Crete and Corfu, in a strike to protest against government plans to open up their trade to competition.

22/07/2011 | World

Fitch to slap 'restricted default' status on Greece

Fitch ratings agency declared Greece would be in temporary default as the result of a second bailout, which Athens said had bought it breathing space.

22/07/2011 | World

Top Republican breaks off debt talks with Obama

US House Speaker John Boehner broke off talks with President Barack Obama on Friday on a deficit-reduction deal to prevent a devastating default and said he would try to hammer out an agreement through the Senate.

25/07/2011 | World

IMF calls for US debt rise, warns of global economic repercussions

The International Monetary Fund urged the United States to swiftly raise the debt ceiling to ward off risks of a credit downgrade that could damage the global economy.

25/07/2011 | World

Obama: Spending cuts alone not answer on deficit

President Barack Obama, taking a combative tone in a standoff with congressional Republicans over the US debt, said the country cannot deal with its budget problems through spending cuts alone.

29/07/2011 | World

Lawmakers' votes open way for final US debt push

US lawmakers opened the way for a last-ditch bid for a possible bipartisan compromise to avert a crippling national default just four days before the deadline to raise the country's debt ceiling.

12/05/2011 | World

Debt crisis could still spread to EU core: IMF

Despite bailouts for Greece, Ireland and Portugal, Europe's debt crisis could still spread to core euro zone countries and the emerging economies of eastern Europe, the International Monetary Fund warned.

14/05/2011 | World

Japan approves Tepco nuclear claims plan

Japan announced a plan to help Tokyo Electric Power compensate victims of the crisis at its tsunami-crippled nuclear plant without going broke while it struggles to resolve the nuclear crisis.

20/05/2011 | World

Israel's Netanyahu rejects Obama proposal on borders

Israeli Prime Minister Benjamin Netanyahu bluntly told President Barack Obama his vision for the borders of a future Palestinian state would leave the Jewish state with an "indefensible" frontier.

11/06/2011 | World

Japan anti-nuclear protesters rally 3 months after quake

Thousands of anti-nuclear protesters marched in Japan today, on the three-month anniversary of an earthquake and tsunami that triggered the worst nuclear disaster in 25 years, pressing the government to cut the country's reliance on atomic power.

15/10/2012 | World

Soros: Euro destroying EU, and Germany should save it

The European Union could be destroyed by the "nightmare" euro crisis, and Germany needs to take the responsibility to save the common currency, billionaire fund manager George Soros said.

17/10/2012 | World

Rome brushes off IMF aid call for Italy

The International Monetary Fund called on the eve of a European Union summit for both Spain and Italy to seek euro zone assistance to draw a line under the bloc's debt crisis, but Rome has rebuffed the idea and Madrid seems likely to apply alone.

08/10/2012 | World

Thousands of Greek protesters tell Merkel she is not welcome

About 8,000 demonstrators chanted anti-austerity slogans and hoisted banners warning Angela Merkel she was not welcome in Greece at a protest, the eve of a visit by the German chancellor.

10/10/2012 | World

IMF calls for action as euro zone crisis festers

The IMF prodded the world's rich countries for swifter action as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

12/10/2012 | World

Germany holds firm on Greece as IMF pressure mounts

Germany held firm today in insisting it was too soon to say Greece deserved more time to meet its deficit-cutting goals even as the head of the International Monetary Fund laid out the case for leniency.

20/03/2011 | World

Japan death toll grows as nuclear crisis on edge

29/03/2011 | World

France, US to help Japan in nuclear crisis

France and the United States are to help Japan in its battle to contain radiation from a crippled nuclear complex where plutonium finds have raised public alarm over the world's worst atomic crisis since Chernobyl in 1986.

01/04/2011 | World

Japan says evacuation will be 'long-term' as country prepares to 'control' situation

Japan's Chief Cabinet Secretary Yukio Edano said that the evacuation of residents near the country's stricken nuclear plant will be "long-term," as Japan's nuclear crisis stretched into a third week, with no end in sight.

18/04/2011 | World

West wants military, aid action to end Libya crisis

NATO may have to intensify attacks on government forces to break the military stalemate in Libya, while the United Nations pushes for a humanitarian presence to help civilians trapped in the conflict.

22/04/2011 | World

Japan will use first US$50 billion for post-quake rebuild

Japan's cabinet approved almost US$50 billion of spending for post-earthquake rebuilding, a downpayment on the country's biggest public works effort in six decades.

02/05/2011 | World

ECB's Trichet: financial crisis is not over

The financial crisis is not over and the economic environment remains demanding, European Central Bank President Jean-Claude Trichet said. Trichet added that the ECB would continue to separate its non-standard policy measures - liquidity injections and bond purchases - from its standard measures, such as its interest rates.

06/05/2011 | World

Greece denies may quit euro, European ministers meet

Top finance officials of the euro zone's biggest economies met to discuss Greece's debt crisis and Athens denied a media report that it was considering whether to leave the bloc.

01/11/2012 | World

UK risks sliding to EU exit, Deputy PM Clegg warns

Britain faces a crisis that could end with the world's sixth largest economy leaving the European Union, Deputy Prime Minister Nick Clegg warned ahead of a showdown over budget spending with other states in the 27-member bloc.

01/11/2012 | World

IMF says financing issues main obstacle on Greek talks

The International Monetary Fund said today financing issues remained the main obstacle for debt-laden Greece to receive more bailout money from its international lenders.

08/11/2012 | World

ECB holds rates, waits for call to unlock bond plan

The European Central Bank held its main interest rate at 0.75 percent, deferring any cut in borrowing costs while it assesses the extent of the euro zone's economic downturn and waits for a cue to use its new bond-purchase program.

13/11/2012 | World

Anti-austerity strikes sweep southern Europe

14/11/2012 | World

Anti-austerity strikes sweep Europe

15/11/2012 | World

Euro zone falls into second recession since 2009, data shows

The debt crisis dragged the euro zone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed.

21/11/2012 | World

Greece's lenders fail again to clinch debt deal

International lenders failed for the second week to reach a deal to release emergency aid for Greece and will try again next Monday, but Germany signaled that major divisions remain.

30/11/2012 | World

Draghi: euro zone set for second-half 2013 recovery

European Central Bank President Mario Draghi said that budgetary consolidation in the euro zone would entail a short-term economic impact but the bloc was on track for a recovery in the second half of 2013.

10/12/2012 | World

Europe leaders praise Monti, call next gov't to stick to reform agenda

European partners heaped praise on outgoing Italian Prime Minister Mario Monti today, and called for the next government to stick to his reform agenda after his surprise decision to resign rattled financial markets.

11/12/2012 | World

Italy's Monti leaves political future open

Italian Prime Minister Mario Monti said he wanted to influence political debate in whatever role he fills after elections next year but he left his future open following speculation he may remain in politics.

11/12/2012 | World

Egypt army seeks national unity as crisis mounts

Egypt's army chief called for talks on national unity to end the country's mounting political crisis after a vital loan from the IMF was delayed and thousands of pro- and anti-government demonstrators took to the streets.

13/12/2012 | World

EU reaches deal to make ECB top banking supervisor

The European Union reached a landmark deal today to make the European Central Bank the bloc's top banking supervisor, giving EU leaders greater confidence that they are gaining the upper hand over the euro zone's debt crisis.

14/12/2012 | World

Merkel says tough, painful years ahead for euro zone

02/01/2013 | World

Pilots agree to talk with Iberia about job cuts

Spanish airline Iberia said today it has reached a preliminary agreement with pilots over plans to restructure the loss-making airline by laying off staff and cutting salaries.

05/01/2013 | World

Egypt fires finance, interior ministers before IMF visit

Egypt's Islamist President Mohamed Mursi fired his finance and interior ministers, cabinet sources said today, in a government reshuffle he had promised to assuage public anger at an economic crisis.

05/01/2013 | World

Assad to make rare speech as Syrian rebels draw nearer

Syrian President Bashar al-Assad will deliver a rare speech on Sunday about the uprising against his rule, which has killed 60,000 people and brought civil war to the edge of his capital.

18/01/2013 | World

US Fed missed warning signs in 2007 as crisis gathered steam

Top policymakers at the US Federal Reserve felt for most of 2007 that problems in housing and banking were isolated and unlikely to tear down the economy as they ultimately did.

07/02/2013 | World

Obama open to 'big deal' on budget, but wants revenues

US President Barack Obama told congressional Democrats today he is willing to agree to a "big deal" with Congress on spending cuts and tax reforms to end uncertainty over the budget deficit, but insisted that new revenues be part of the package.

16/12/2010 | World

IMF approves Ireland loan, open to re-negotiation

The International Monetary Fund (IMF) approved a 22.5 billion euros loan for Ireland and said it was open to re-negotiating parts of the bailout package with a new government provided its overall targets were adhered to.

21/12/2010 | World

Portugal faces rating cut, Spanish debt costs rise

Portugal was put on notice that its credit rating could be cut and fellow euro zone debtor Spain had to pay more to issue new debt, suggesting the currency bloc's crisis will rage unabated in 2011.

07/01/2011 | World

Opposition: Irish election likely at end of March

An Irish parliamentary election, which is widely expected to favour the opposition, will likely be held at the end of March, the opposition's finance spokesman said.

06/02/2011 | World

Egypt opposition says talks to end crisis not enough

11/02/2011 | World

EU, IMF approve new Greek aid, demand to speed up reforms

EU and IMF inspectors gave the green light for a new 15 billion euros tranche of aid for Greece but said progress was too slow and urged Athens to speed up reforms to meet the targets of its bailout deal.

12/08/2012 | World

Finance Minister says Italy to overshoot deficit goal

Finance Minister Vittorio Grilli said Italy's government would overshoot its 2012 deficit goal because of worse-than-expected growth but planned no extra budget cuts because Italy was on target to meet its EU obligations.

19/08/2012 | World

Italy's Monti sees end of crisis getting closer

Italian Prime Minister Mario Monti said the end of the economic crisis in his country was in sight and that the euro zone must not let the single currency become a source of friction between the north and south in the bloc.

20/08/2012 | World

Germany's Central Bank reluctant to ECB bond buying

Germany's Bundesbank showed no signs of lowering its resistance to a European Central Bank plan to buy billions of euros worth of Spanish and Italian government bonds to reduce those countries' crippling borrowing costs.

22/08/2012 | World

Greek PM asks EU 'bit of air' to get economy running

Greek Prime Minister Antonis Samaras started a European charm offensive with an appeal to Germans for more time to meet Athens' borrowing obligations, but he may struggle to make his case in a series of meetings this week with EU leaders.

28/08/2012 | World

Spanish recession deepens as austerity plan moves forward

Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the euro area’s third-biggest budget deficit and a slump in consumer spending offset growth in exports.

05/09/2012 | World

N.Irish leaders hold crisis talks to halt rioting

Northern Ireland's first and deputy first ministers held crisis talks with politicians and leaders of the pro-British Orange Order in a bid to stop the sectarian violence which has engulfed Belfast over the last three days.

06/09/2012 | World

OECD: 'Crisis pushing eurozone into recession'

Europe's debt crisis is pushing the 17-country eurozone toward recession and dragging down the global economy, the Organization for Economic Cooperation and Development said.

11/09/2012 | World

Vast crowds demand Catalan autonomy from crisis-hit Spain

Hundreds of thousands of Catalans took to the streets of Barcelona in an unprecedented show of mass support for autonomy from Madrid, blaming Spain's economic crisis for dragging their wealthy region down.

14/09/2012 | World

Euro zone officials urge Spain to clarify aid

Euro zone finance ministers pressed Spain today to clarify whether it will seek financial support after the announcement of the European Central Bank's new bond-buying programme brought Madrid's borrowing costs sharply lower.

21/09/2012 | World

IMF chief urges Europe to act to move beyond crisis

European policymakers must move quickly to coordinate and implement decisions they have taken to move the euro zone beyond its current debt crisis, the head of the International Monetary Fund said.

25/09/2012 | World

Merkel: 'We need to take a deep breath to overcome this crisis'

Speaking at a meeting of the Federation of German Industries (BDI), Merkel acknowledged that Germany was "not an island" that could disconnect from economic developments in Europe and the world economy.

25/09/2012 | World

Italian PM Mario Monti says he won't run for election

Italian Prime Minister Mario Monti said he would not run in elections due in spring, in an interview in which he said Italy no longer risked igniting a debt crisis in the euro zone.

26/09/2012 | World

Spain to pass reforms, budget cuts with eye on aid

Spain will announce a series of economic reforms and a tight 2013 budget today, aiming to avoid the political humiliation of having Brussels impose conditions on a request for an international bailout.

04/10/2012 | World

ECB holds rates, Draghi eyed on Spain

The European Central Bank kept its interest rates on hold today as markets awaited signals from its President Mario Draghi about when he might pull the trigger on his new bond-buying plan.

05/10/2012 | World

Merkel to visit Greece as money running out

German Chancellor Angela Merkel will make her first visit to Greece next week since the euro zone debt crisis erupted, in a show of support for Athens after it said it would run out of money at the end of November without fresh international aid.

07/10/2012 | World

Merkel to face protests on first crisis visit to Greece

German Chancellor Angela Merkel will tell Greeks she wants to keep their country in the euro when she visits Athens this week, but she faces a hostile reception from a people worn down by years of austerity and recession.

18/01/2012 | World

IMF seeks $600 billion more in funds

The International Monetary Fund is seeking to boost its war chest by $600 billion to help countries reeling from the euro zone debt crisis, but some nations insist Europe must first do more to support its ailing members, international financial sources said.

20/01/2012 | World

Italian cabinet approves deregulation package

Italy's cabinet approved legislation to deregulate some service sectors and professions in an effort to increase competition, cut costs to consumers and boost chronically weak growth in the euro zone's third largest economy.

27/07/2012 | World

Spain discusses state bailout; ECB seen writing off Greek debt

Spain has at last conceded it may need a state bailout and policymakers are considering writing down Greek debt to their central banks, European officials said, as markets anticipated radical new action to pull the continent out of its debt maelstrom.

29/07/2012 | World

Greek leaders agree most cuts, lenders stay on

Political leaders in Greece have agreed on most of the austerity measures demanded by its creditors and are now eyeing pension and wage cuts to find the final 1.5 billion euros of savings still needed.

30/07/2012 | World

Italy's 10-year yields ease below 6% at auction

Italy's benchmark 10-year borrowing costs eased below 6 percent at auction as rising expectations of bolder policy moves to counter the euro zone's debt crisis boosted demand for debt issued by the bloc's most vulnerable members.

31/07/2012 | World

Italy's Monti sees light in euro tunnel

Italian Prime Minister Mario Monti said today that Europe was starting to see light at the end of the tunnel of the euro zone's sovereign debt crisis, belying a welter of deteriorating economic data.

01/08/2012 | World

S&P affirms Spain's sovereign rating, keeps negative outlook

Standard and Poor's Ratings Services affirmed Spain's sovereign rating at BBB+/A-2, citing the country's strong commitments to economic and fiscal adjustments, and said its outlook remained negative.

02/08/2012 | World

After keeping interest rates on hold, ECB Draghi warns euro zone growth weak

Euro zone economic growth is weak and uncertainty about the outlook is weighing on confidence in the bloc, European Central Bank President Mario Draghi said after the ECB kept interest rates on hold.

02/06/2012 | World

Spain wants euro zone fiscal authority

Spain proposed the set up a new fiscal authority in the euro zone which would control and harmonize national budgets and manage the European debts.

03/06/2012 | World

Spain calls for new euro fiscal authority

Spain, the latest combat zone in Europe's long-running debt wars, urged the euro zone to set up a new fiscal authority to manage the bloc's finances and send a clear signal to markets that the single currency project is irreversible.

03/06/2012 | World

Merkel seeks measures to boost growth in Europe

Chancellor Angela Merkel praised higher German wage deals and signalled flexibility on a financial transaction tax, in a sign she is open to new measures to boost growth in Europe.

04/06/2012 | World

G7 to hold emergency eurozone talks, Spain top concern

Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis tomorrow in a sign of heightened global alarm about strains in the 17-nation European currency area.

05/06/2012 | World

Spain says markets are shut to it as G7 confers

Spain's Treasury Minister Cristobal Montoro sent out the dramatic distress signal in a radio interview about the impact of his country's banking crisis on government borrowing, saying that at current rates, financial markets were effectively shut to Spain.

05/06/2012 | World

Japan Finance Minister: G7 to work together on Spain, Greece

The Group of Seven finance chiefs agreed in a teleconference call to work together to deal with the problems hitting Spain and Greece, Japanese Finance Minister Jun Azumi said today.

06/06/2012 | World

Trichet: EU institutions need emergency powers

Europe's key institutions should have emergency powers to override economic and financial policies at a national level in times of crisis, Jean-Claude Trichet, former head of the European Central Bank, said today.

07/06/2012 | World

IMF to put Spanish bailout bill at 40-80 billion euros

An IMF report on Spanish banks to be released on Monday would estimate the cost of refinancing them at between $40-80 billion euros, according to a Spanish newspaper.

07/06/2012 | World

'Fed is monitoring significant risks for the US from Europe crisis'

Federal Reserve Chairman Ben Bernanke said today the central bank was ready to shield the economy if financial troubles mount, but offered few hints that further monetary stimulus was imminent.

07/06/2012 | World

Fitch cuts Spain rating by three notches to 'BBB'

Fitch Ratings cut its rating on Spain's government debt by three notches to 'BBB' today and signaled it could lower it further by putting the country on negative outlook.

07/06/2012 | World

Merkel says EU ready to act as Spain downgraded

German Chancellor Angela Merkel said Europe was ready to act to ensure stability in the euro zone as Spain's credit rating was cut by three notches amid expectations it may soon seek EU help for banks beset by bad debts.

08/06/2012 | World

Spain poised to request EU bank aid

Spain is expected to ask the euro zone for help with recapitalising its stricken banks at the weekend, EU and German sources said, becoming the fourth country to seek assistance since Europe's debt crisis began.

08/06/2012 | World

Obama urges Europe to act quickly on crisis

President Barack Obama said that European leaders face an "urgent need to act" to resolve the region's financial crisis as the threat of a renewed recession there spells dangers for an anemic US recovery five months before elections.

11/06/2012 | World

Syria: Assad forces renew Homs assault

Syrian President Bashar al-Assad's forces have renewed efforts to impose control in Homs province, killing at least 35 people in one of the biggest bombardments since a failed UN-mandated ceasefire in April, opposition activists said.

12/06/2012 | World

Barroso seeks EU banking union

A banking union giving a cross-border agency supervisory powers over major lenders in all EU states could be enacted by next year, European Commission President Jose Manuel Barroso was quoted as saying.

18/06/2012 | World

G20 ramps up pressure on Europe over debt crisis

World leaders pressured Europe to take ambitious new steps to resolve its debt crisis after a victory for pro-bailout parties in a Greek election failed to calm markets or ease worries that wider turmoil could derail the global economy.

19/06/2012 | World

Hollande: Euro zone must find own crisis solutions

French President Francois Hollande said today that he and German Chancellor Angela Merkel were both aware that the euro zone needed to come up with its own solutions to solve the bloc's debt crisis rather than seek outside help.

19/06/2012 | World

G20 backs Europe's overhaul to fight crisis

Europe won support from world leaders for an ambitious but slow-moving overhaul of the euro zone, even as pressure built in financial markets for quicker solutions to its debt crisis that threatens the world economy.

25/06/2012 | World

Spain asks for euro zone aid to recapitalise banks

Spain formally requested euro zone rescue loans to recapitalise its debt-laden banks today as the euro and shares fell on investor scepticism about this week's EU summit.

25/06/2012 | World

Greek finance minister resigns

Greece's new finance minister resigned because of ill health today, throwing the government's drive to soften the terms of an international bailout into confusion days before a European summit.

27/06/2012 | World

Merkel says no easy answers to end euro crisis

German Chancellor Angela Merkel said today, one day before a crunch European Union summit, that there were no quick or easy solutions to end the euro zone's debt crisis and leaders should avoid making rash promises they could not keep.

28/06/2012 | World

EU summit works on short-term support for Spain, Italy

European finance officials were working on urgent measures to ease financial market pressure on Spain and Italy, which are too big to bail out, as EU leaders began a summit on Thursday deeply divided over how to resolve the euro zone's debt crisis.

29/06/2012 | World

Draghi says EU crisis summit delivered 'tangible' results

European Central Bank President Mario Draghi said he was pleased with steps taken at a summit of EU leaders, including a decision to allow direct recapitalisation of banks, but added that future aid must be tied to strict conditions.

05/07/2012 | World

ECB cuts rates to new low, no move on bolder measures

The European Central Bank cut interest rates to a record low today to breathe life into a deteriorating euro zone economy but steered clear of more dramatic measures such as buying government bonds or flooding banks with fresh liquidity.

11/07/2012 | World

Spain's Rajoy announces new austerity plan amid European pressure

Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts designed to slash 65 billion euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.

13/07/2012 | World

Spanish workers block roads, rail in cuts protest

Spanish workers blocked streets and railways in Madrid in protests against new austerity measures they said hurt ordinary people more than the bankers and politicians they blame for the economic crisis.

18/07/2012 | World

World Bank chief warns no region immune to Europe crisis

World Bank President Jim Yong Kim warned that most regions of the world will be hurt by the debt crisis enveloping the euro zone and said it was vital to protect the strong economic gains of the past decade in the developing world.

22/07/2012 | World

Greek PM sees country in 'Great Depression'

Greece is in a "Great Depression" similar to the American one in the 1930s, the country's Prime Minister Antonis Samaras told former U.S. President Bill Clinton.

23/07/2012 | World

Global shares plunge on Spain bailout speculation

US stocks fell for a second straight session, as Spain appeared closer to needing a national bailout and poor corporate results weighed on the market. Meanwhile, European stocks also sank.

23/07/2012 | World

Spain's Central Bank says economy sank deeper into recession in second quarter

Spain's economy sank deeper into recession in the second quarter, its central bank said as investors spooked by an undeclared funding crisis in its regions pushed the country ever closer to a full bailout.

23/07/2012 | World

EU says mismanaged Greek banks face 'revamp'

Banks recapitalised as part of Greece's bailout may be forced to overhaul their management and governance, the European Commission said, in response to questions raised by Reuters agency about alleged malpractice at Greece's fourth-largest bank.

23/07/2012 | World

'We better cut spending if we don't want to become Argentina,' Spanish official

The President of the Community of Madrid, Esperanza Aguirre, has warned about the “difficult” situation Spain is going through, and said “If we don’t want to become another Argentina, with a ‘corralito’ and inflation rates around 20-40 percent, we must cut the public spending and find the accounts’ balance.”

23/07/2012 | World

Moody's: Germany, Netherlands, Luxembourg's ratings under threat

Credit ratings agency Moody's warned that Germany, Netherlands and Luxembourg were put on negative outlooks and could lead to a downgrade of their ratings.

24/07/2012 | World

Spain's borrowing costs rise at bill sale

Spain's borrowing costs rose at an auction of 3.05 billion euros of three- and six-month Treasury bills today. The average yield was 2.434 percent for the three-month bills compared with 2.362 percent in June and 3.691 percent for six-month paper compared with 3.237 percent.

25/07/2012 | World

Britain sinks far deeper into recession than forecast

Britain's economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighboring euro zone crisis.

15/12/2010 | World

Ireland passes bailout package despite opposition

Ireland's parliament approved a multi-billion euro EU/IMF bailout package in the face of opposition threats to renegotiate the deal to force losses on some senior bondholders in Irish banks.

05/12/2011 | World

Monti: Without economic plan Italy would risk Greece situation

Italy would have risked a Greek-style economic crisis without the government's new 30-billion euro austerity package, Prime Minister Mario Monti said.

07/12/2011 | World

EU leaders voice confidence over summit deal for debt crisis

The leaders of France and Germany will not leave this week's EU summit until a "powerful" deal is reached to arrest the euro zone debt crisis, Paris said, as latest borrowing figures exposed the stressed state of Europe's banks.

07/12/2011 | World

Germany pours cold water on EU summit hopes

Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the euro zone's debt crisis at a summit this week.

08/12/2011 | World

Obama says EU is wealthy enough to solve crisis

US President Barack Obama said on Thursday he was "very concerned" about the euro zone crisis and believed the European Union had the resources to solve it if leaders could find the political will.

08/12/2011 | World

EU agrees tougher budget, debt rules

European Union leaders agreed on new fiscal rules enshrining tougher budget discipline, an EU official said, after the European Central Bank doused hopes of dramatic action on its part to arrest the euro area's debt crisis.

12/12/2011 | World

Ratings agencies Moody's, Standard & Poor's put pressure on euro zone

Moody's Investors Service said it still expects to review its ratings on all European Union sovereign credit in the first quarter of next year, while Standard & Poor's chief economist said time was running out for the currency bloc to resolve its debt problems.

14/12/2011 | World

UK unemployment hits 17-year high as recession looms

The number of Britons out of work rose to its highest level in more than 17 years in October, and these jobless figures look set to rise further as firms facing the threat of a renewed recession cut back on staff.

14/12/2011 | World

Merkel urges patience, says Europe can overcome crisis

Europe can emerge stronger from its debt crisis if governments show patience and follow through on their plan to integrate their economies, German Chancellor Angela Merkel said in a speech in parliament.

15/12/2011 | World

Italy government calls confidence vote on austerity

Italy's government has called a confidence vote in parliament tomorrow to speed up approval of a 33-billion euro ($43 billion)austerity package intended to restore market confidence in the euro zone's third largest economy.

19/12/2011 | World

EU leaders discuss IMF measures to create firewall against debt crisis

European finance ministers discussed ways of boosting IMF resources to build a better firewall against the debt crisis today, while also assessing plans for tighter euro zone fiscal rules that they hope will prevent the problems from worsening.

27/12/2011 | World

Gunfire erupts as Syrians plead with Arab monitors

Syrian security forces fired tear gas at tens of thousands of protesters who were heading towards the centre of Syria's troubled city of Homs, the Syrian Observatory for Human Rights said.

28/12/2011 | World

Italy short-term debt costs halve at auction

Italian short-term debt costs halved at auction as a new package of budget austerity and an injection of cheap long-term money from the European Central Bank won Rome some respite in thin year-end markets.

30/12/2011 | World

Spain says deficit bigger than expected, unveils tax

Spain's new government said the public deficit for 2011 would come in at 8% of gross domestic product, well above a target of 6%, and announced income and property tax hikes and a civil servant wage freeze in response.

08/05/2012 | World

Some Syria violence amounts to civil war, says Red Cross

Fighting has been so intense in parts of Syria that at times the uprising against President Bashar al-Assad has qualified as a localised civil war, the head of the International Committee of the Red Cross (ICRC) said.

09/05/2012 | World

Spain takes over Bankia to combat crisis

Spain took over Bankia, the country's fourth biggest lender trying to dispel concerns over the government's ability to clean up the financial sector four years after the banks were hit by a property market crash.

13/05/2012 | World

Spaniards keep up anniversary rally against crisis

Spaniards kept up protests against politicians' handling of the economic crisis in Madrid's Puerta del Sol on Sunday after police evicted people from the central square in the pre-dawn hours and made 18 arrests. 

14/05/2012 | World

Greece hits political stalemate; President invites parties to final meeting

Greece's president met little enthusiasm from political leaders summoned to a final round of talks today to avert a new election, reinforcing fears the country was firmly on the path to bankruptcy and an exit from the euro zone.

18/05/2012 | World

Obama presses ailing Europe to focus on growth

A growing chorus of world leaders pushed for a shift toward more pro-growth policies to help ease a European crisis that threatens to oust Greece from the euro zone and reverberate throughout the global economy.

19/05/2012 | World

World leaders vow to combat financial turmoil, back Greece

World leaders backed keeping Greece in the euro zone and vowed to take all steps necessary to combat financial turmoil while revitalizing their economies, which are increasingly threatened by Europe's debt crisis.

21/05/2012 | World

Spain says economy to likely slump in the second quarter

Economy Minister Luis de Guindos said economic activity would likely slump by another 0.3 percent between April and June, further fuelling doubts about the country's ability to get a grip on in its finances and nurse an ailing banking sector back to health.

22/05/2012 | World

OECD sees euro crisis threatening world recovery

The United States and Japan are leading a fragile economic recovery among developed countries that could yet be blown off course if the euro zone fails to contain its flaring growth crisis, the OECD said today.

26/05/2012 | World

Four EU leaders set June 22 crisis talks

The leaders of France, Germany, Spain and Italy will meet on June 22 to discuss the euro zone crisis, said a spokeswoman for the Spanish prime minister's office.

29/05/2012 | World

Crisis leads Thyssen to sell Constable's 'Lock'

Baroness Carmen Thyssen Bornemisza announced that, due to the crisis, one of British artist John Constable's most important paintings, "The Lock," will go under the hammer at Christie's in London.

31/01/2012 | World

Greece says investor losses from debt swap may top 70%

Greece's private sector creditors could take a loss of more than 70 percent in a planned debt swap, Finance Minister Evangelos Venizelos said.

02/02/2012 | World

Greece says ECB must be 'mobilised' for debt deal

The European Central Bank must take part in Greece's debt swap, Finance Minister Evangelos Venizelos said today, warning that a rescue package for Athens also hinges on other issues being resolved such as labour reforms and how Greek banks are to be recapitalised.

03/02/2012 | World

IMF says the Fund 'should boost its resources as Europe discusses debt crisis'

The International Monetary Fund should proceed with talks on increasing the size of its warchest at the same time as Europe discusses how to build a firewall to contain its debt crisis, a senior official from the fund said.

06/02/2012 | World

Merkel, Sarkozy press Greece as another bailout deadline slips

The leaders of France and Germany told Greece time was running out in talks on a broad debt restructuring deal and Athens would only get bailout money from Europe if it lived up to its promise to deliver economic reforms in return.

09/02/2012 | World

ECB's Draghi sees some signs of euro zone stabilisation

Tentative signs of stabilisation in the euro zone economy remained over the past month but uncertainty remains high, European Central Bank President Mario Draghi said today after the ECB held interest rates at a record low of 1.0 percent.

10/02/2012 | World

Anger in Greece as parliament to vote on bailout

Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has brought thousands of Greeks out on the streets in protest.

14/02/2012 | World

Greece rushes to cut another US$430 million

The Greek government rushed to wring out another 325 million euros in budget cuts to satisfy euro zone finance ministers mulling whether to sign off on a rescue package to save the country from a chaotic default.

14/02/2012 | World

Moody's warns it may downgrade France, Britain

Rating agency Moody's said today it downgraded six European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis, and warned it may cut the triple-A ratings of France, Britain and Austria.

20/02/2012 | World

Second Greek bailout in reach, funding gap narrows

Euro zone finance ministers, locked in marathon overnight talks, inched towards approving a second bailout for debt-laden Greece that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

20/02/2012 | World

Brotherhood says Egypt gov't failing, wants coalition

The Muslim Brotherhood voiced its strongest criticism yet of Egypt's army-appointed government, saying it was failing to deal with crises in security and the economy, and reiterating a call for a new national unity cabinet.

22/02/2012 | World

Fitch downgrades Greece on debt swap plan

Fitch cut Greece's long-term ratings today to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

23/02/2012 | World

Greece readies debt swap under bailout deal

Greece's parliament was expected to endorse a debt swap with private bondholders that forms the core of its 130-billion-euro bailout, despite new protests against tough budget cuts demanded in return for the rescue deal.

29/02/2012 | World

Thousands of Spanish students protest against cuts

Tens of thousands of students took to the streets of Spanish cities to protest against government spending cuts that have left many classrooms without heating.

08/03/2012 | World

Massive take-up of Greece bond swap offer

Greece secured an overwhelming acceptance of a bond swap offer to private creditors and beat its own most optimistic forecasts, a senior official said after the deadline expired on a deal needed to avoid a chaotic debt default.

13/03/2012 | World

ECB Draghi: 'We are alert to the risk of inflation although it's not materializing'

European Central Bank President Mario Draghi said today that the euro zone's economy appears to be stabilizing but inflation risks were not currently materializing as a large output gap remained.

13/03/2012 | World

Fitch lifts Greece out of default territory after debt swap

Fitch lifted Greece's credit rating out of default territory, becoming the first major rating agency to take the widely expected move after Athens completed a debt swap that cut its debt by about 100 billion euros.

04/04/2012 | World

ECB's Draghi: Exit strategy talk is premature

ECB President Mario Draghi said today that the euro zone inflation outlook did not warrant a retreat from loose monetary policy given the poor state of the bloc's economy.

06/04/2012 | World

Pope urges families to persevere in economic crisis

17/04/2012 | World

'World economy fragile faces uneasy calm,' IMF says

Global growth is slowly improving as the U.S. recovery gains traction and dangers from Europe recede, but risks remain high and the situation is very fragile, the International Monetary Fund said.

21/04/2012 | World

IMF presses Europe to contain debt crisis

Europe was pressed by other world powers on Saturday to take strong measures to fix its debt-heavy economy and restore growth to a level that would lift the cloud hanging over the fragile global recovery.

22/04/2012 | World

Former Iceland PM to learn if guilty in 2008 crisis

The only politician in the world to stand trial for their role in the 2008 financial crisis will learn their fate on Monday when a court in tiny Iceland rules on whether the island's former prime minister was grossly negligent or not.

25/04/2012 | World

Britain's economy falls in its second recession since financial crisis

Britain's economy has fallen into its second recession since the financial crisis after an shock contraction at the start of 2012,the Office for National Statistics said, adding that Britain's gross domestic product fell 0.2 percent in the first quarter of 2012 on top of a 0.3 percent decline at the end of 2011.

27/07/2012 | Latin America

Brazil's Rousseff pledges more economic stimulus

Brazilian President Dilma Rousseff said today her government will unveil more measures to stimulate the economy in August and September, including investments in ports, airports, railroads and highways.

30/07/2011 | Latin America

Unasur to hold 'urgent meeting' to face possible US crisis

The Union of South American Nations (Unasur) will hold an “urgent meeting,” suggested by Colombia, to establish actions to protect the region from the possible economic crisis of the United States, the Ecuadoran President Rafael Correa reported.

12/09/2011 | Latin America

UNASUR's Mejía says region faced crisis better than the G7

The Secretary-General of the Union of South American Nations (UNASUR), Colombian María Emma Mejía, considered that the countries of the region had “more imagination and audacity in the measures they applied,” than the countries of the G7, which are debating how to get out of the crisis they are currently living in.

04/10/2011 | Latin America

EU and Brazil call for united action on debt crisis

Brazil and the European Union must take concerted action to calm markets fearful of global contagion spreading from Europe's debt crisis, leaders from both sides said today.

18/10/2011 | Latin America

Brazil’s Rousseff asks for ‘credible’ compromise to tackle EU debt crisis

Brazil’s Rousseff asked today for a “credible comprise” to overcome EU debt crisis. Leaders from India, Brazil and South Africa urged the world's rich countries today to contain their financial crises and prevent the global economy from slipping into a double dip recession.

08/10/2012 | Sports

Spanish sports federations facing 34% subsidy cuts

State funding for Spain's sports federations will be slashed by more than a third next year to 31 million euros ($40.20 million), secretary of state for sport Miguel Cardenal told parliament.

24/01/2012 | Entertainment

Greek film director dies after accident during shooting

Greek award-winning director Theo Angelopoulos died at the age of 77 in an Athens hospital, hours after a motorbike ran him over while he was filming a movie on the debt crisis rocking the country.

05/05/2012 | Entertainment

Clean water shrinking in 'Last Call at the Oasis'

If you thought only Third World countries have water crises, a new documentary asks you to think again. Increasingly, problems are rising to the surface in the United States.

30/05/2012 | Entertainment

Springsteen lashes out at bankers in Berlin show

Rocker Bruce Springsteen touched on a nerve of widespread discontent with the financiers and bankers at a Berlin concert, railing against them as "greedy thieves" and "robber barons."