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Dominique Strauss-Kahn, former International Monetary Fund (IMF) chief is being questioned today by French police for his involvement in a prostitution ring. Dominique Strauss-Kahn, former International Monetary Fund (IMF) chief is being questioned today by French police for his involvement in a prostitution ring.

The loan comes just in time for Greece, which has to repay a maturing loan by March 20 to avoid bankruptcy.

Tuesday's long-awaited second rescue package for Greece steadied the euro and removed the immediate threat of a disorderly bond default, but markets remained cautious in early morning trading, fearful of what lies ahead for the stricken country.

Euro zone finance ministers reached an agreement to hand Greece a bailout package worth 130 billion euros ($171 billion) , to help the country avoid a default.

Euro zone finance ministers sealed a second bailout for debt-laden Greece on Tuesday that will resolve its immediate financing needs but seems unlikely to revive the nation's shattered economy.

Euro zone finance ministers sealed on Tuesday a second bailout for debt-laden Greece that will resolve its immediate financing needs but seems unlikely to revive the nation's shattered economy.

Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.

Euro zone finance ministers inched toward approving a second bailout for debt-laden Greece Monday night that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.

Standard & Poor's Ratings Services said that it has affirmed Japan's sovereign debt rating at AA- along with maintaining its negative outlook as the country faces dismal fiscal position.

Eurozone finance ministers expected to approve second bailout for Greece to draw line under months of turmoil that has shaken the currency bloc.

Eurozone finance ministers are expected to formally endorse Greece's second bailout package on Monday. The final deal to funnel a rescue package worth 130 billion euros ($170.9 billion) is an important lifeline to the debt-hit country, for without it, Greece will default on a 14.5-billion-euro bond redemption due on March 20.

China’s central bank has announced a cut in reserve requirements for the first time this year to reinforce economic growth.

Japan and China are committed to help resolve the European debt crisis through the International Monetary Fund once euro region members take additional steps themselves according to Japanese Finance Minister Jun Azumi.

Markets jumped Monday as policy easing by China and prospects for Greece to clinch a second bailout fund buoyed investor appetite for riskier assets, sending U.S. crude up nearly $2 a barrel and Asian shares up nearly 1 percent.

U.S. Treasury Secretary Tim Geithner said on Sunday the United States would encourage the International Monetary Fund to support an agreement on Greek economic reforms that had been agreed to by Greek leaders.

After a year of protests, diplomatic wrangling and an assassination attempt, Yemenis will draw a line under Ali Abdullah Saleh's three-decade rule Tuesday by voting in an uncontested election to install his deputy as president.

German Chancellor Angela Merkel bowed to pressure Sunday and agreed to dupport popular opposition candidate Joachim Gauck to become president, averting a political fight that might have distracted her government from solving the euro zone crisis.

Riot police shielded Greece's national parliament Sunday as demonstrators gathered to protest against austerity measures on the eve of talks in Brussels on a 130 billion euro ($171 billion) bailout needed for the country to avert bankruptcy. (See Eurozone Crisis in Graphics and Interactive Timeline.)

Greece's cabinet on Saturday approved a final set of austerity measures sought by the EU and IMF as a condition for a 130-billion euro ($171 billion) rescue package, raising the chances of a deal next week to avert a chaotic default on its debt.

European leaders expressed optimism on Friday that Greece would secure a new rescue package worth 130 billion euros though policymakers admitted urgent work was still needed to get its debt-cutting program back on track.

Masters of the Eurozone are considering tweaks to Greek debt restructuring in terms of its private-sector involvement among several options to further cut Greek debt toward the target of 120 percent of gross domestic product in 2020, officials said.

Some European leaders have expressed optimism that the next round of rescue financing for debt-scarred Greece will be approved by Eurozone finance ministers at a crucial meeting in Brussels on Monday.

In a curt five-minute statement at the Bellevue presidential palace, Wulff said he had lost the trust of the German people, making it impossible to continue in a role that is meant to serve as a moral compass for the nation.

The Organization for Economic Cooperation and Development released a report Tuesday calling on Germany to raise its property taxes dramatically. The group has also called on Denmark, Norway, and the U.K. to do the same.

Greece’s finance minister Evangelos Venizelos has suggested some countries in the bloc want Greece to leave the eurozone.

The eurozone finance ministers have demanded greater supervision and control of Greece's economy in return for the approval of bailout package.

European Union finance ministers will meet in Brussels to finalise Greece's second bail out deal.

Unemployment in Britain stayed relatively flat at the end of 2011, rising its smallest amount in nearly a year between the months of November and December. Compared to the rest of Europe, the UK is right in the middle.