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Cynicism towards Greece abounds across Europe.

The euro zone economy's shrunk at the end of 2011 as the sovereign debt crisis crushed a recovery and looked set to push the bloc into mild recession, but a north-south divide was evident as France grew while Italy slumped.

Germany, Europe’s largest economy, saw that its gross domestic product fall 0.2 percent from the third quarter even as France grew 0.2 percent in the fourth quarter.

Greek conservative leader Antonis Samaras will send a letter of commitment to the terms of an EU/IMF bailout deal within the day, a party source said on Wednesday, with the country's bankruptcy rescue hanging in the balance.

Gold dropped on Tuesday as the dollar rallied versus the euro onrenewed fears of credit downgrades in major European economies and uncertainty over Greece's bailout.

Euro zone finance ministers dropped plans on Tuesday for a special face-to-face meeting on Greece's new international bailout, as the cabinet in Athens argued up to the last minute on plugging a 325 million euro ($427 million)gap in its austerity plan.

A European finance minister, in Washington for a panel on global business and economics, sent up a flare to U.S. officials Monday afternoon, saying he hoped the U.S. would be more involved in playing a key role to solving the ongoing sovereign debt crisis in Europe.

The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures ahead of a regional election next month, sources familiar with the situation told Reuters.

The summit comes a day right after Moody's downgraded its ratings for Italy, Spain and Portugal, with a negative outlook for France, Britain and Austria.

Greek political leaders say the nation must accept yet more punishing austerity or face a social explosion, but after a night of violence and destruction in Athens, some people fear this explosion may already be about to begin.

Given that gold, U.S. bonds and the U.S. dollar remain safe havens during times of uncertainty, they cannot be ignored.

Qatar is perhaps the wealthiest nation on earth.

Oil prices rose to nearly $100 a barrel in electronic trading on the New York Mercantile Exchange on Monday, after Greece's parliament approved painful austerity measures to secure a second bailout and avoid bankruptcy.

Japan’s economy contracted more than economists forecast in the fourth quarter as exports slid on weakness in global demand and strength in the yen.

Gold strengthened Monday in line with gains in shares and the euro after Greece's parliament finally approved a deeply unpopular austerity bill to secure a second bailout from the European Union and the IMF to avoid bankruptcy.

Greece's parliament approved a deeply unpopular austerity bill Monday to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.

The austerity bill calls for, among other things, 15,000 cuts in public sector jobs; and a 20 percent reduction in the minimum wage.

Greek lawmakers late Sunday accepted terms of a deeply unpopular austerity plan that Eurozone leaders demanded as the price for financially rescuing the debt-choked nation.

Just after midnight Monday, the Greek parliament approved a deeply unpopular austerity bill to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.

Black-masked protesters throwing petrol bombs created a wall of fire on Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy.

Historic cinemas, cafes, shops and banks were set ablaze in central Athens Sunday as black-masked protesters fought Greek police outside parliament, while inside lawmakers looked set to defy the rage by endorsing a new EU/IMF austerity deal.

Historic cinemas, cafes and shops went up in flames in central Athens Sunday as black-masked protesters fought Greek police outside parliament, while inside lawmakers looked set to defy the public rage by endorsing a new EU/IMF austerity deal.

Black-masked protesters throwing petrol bombs created a wall of fire Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy.

Greek lawmakers looked set to endorse a new austerity deal on Sunday to secure an EU/IMF bailout and avoid national bankruptcy, defying public rage and protesters who fought pitched battles with riot police outside parliament.

Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be economic chaos, and Germany demanded Greece dramatically change its ways to stay in the euro.

Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be economic chaos, and Germany demanded Athens dramatically change its ways to stay in the euro.

The chief negotiator for private creditors over a Greek debt swap deal, Charles Dallara, urged lawmakers to approve the country's IMF/EU bailout deal in parliament on Sunday, saying the deadlines allowed no room for slippage.

Greek conservative leader Antonis Samaras said on Saturday that all his New Democracy party's lawmakers must vote for a European Union/International Monetary Fund bailout law or face being dropped as parliamentary candidates. This is obviously an issue of party discipline, he said.

Hungary can realistically start formal talks with the European Union and the IMF about a vital funding deal in early March and an agreement can be reached by the middle of the second quarter, a ruling Fidesz party lawmaker said on Saturday.