Global Economy, Europe Debt Crisis | featured news

Greek PM George Papandreou says an agreement has been reached on the creation of an interim government that will secure the new debt deal.

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's insistence on elections instead of an interim government opened the way to prolonged instability and delays to long-promised economic reforms.

Finance Ministers and Central Bankers from members states within the Group of 20 said Saturday they saw no imminent threat of a recession as the European debt crisis unfolds.

European officials have rejected key recommendations from the United States and the International Monetary Fund, casting doubt on whether an emerging plan to address the region’s financial crisis will be as broad or fast acting as hoped.

The leaders of Germany and France, the eurozone's two biggest economies, say they have reached agreement on strengthening Europe's shaky banking sector.

World stocks hit a 15-month low on Tuesday and the dollar rose to a nine-month peak as fears over a major banking crisis in Europe mounted.

Stocks began the final quarter of 2011 on Monday the same way they ended the last one, falling amid pessimism over Europe's efforts to contain its sovereign debt problems and fears that a wider economic slowdown ...

Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.

Stocks ended their worst quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy.

Policymakers have lost control of the economic crisis and financial markets are forcing the world into a depression, George Soros said on Friday, urging Europe to create a common Treasury, recapitalize its banks and protect vulnerable states.