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The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

Political and economic crisis in Italy spurred fears of a split in the Eurozone with borrowing costs for Europe's third biggest economy at unsustainable levels and the bloc unable to afford a bailout.

Gold prices slipped modestly Wednesday as stock investors in Europe and the U.S. dumped their holdings and abandoned the euro in a global stampede to safety.

The talks have now dragged on for three fruitless days.

We have agreed on someone who will unite us, Papandreou reportedly said, without revealing his identity.

Negotiations between outgoing Prime Minister George Papandreou and opposition leaders, notably Antonis Samaras, have dragged on into the third day.

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

Italian borrowing costs reached the breaking point Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

The head of the International Monetary Fund warned on Wednesday that Europe's debt crisis risked plunging the global economy into a lost decade and said it was up to rich nations to shoulder the burden of restoring growth and confidence.

I believe that we are now close to an agreement with [the opposition party] New Democracy, Papandreou said during a Cabinet meeting

International Business Times spoke to a Greek native for her personal view on the crisis.

Asian shares wiped earlier gains and fell anew Tuesday, weighed by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

International Monetary Fund chief Christine Lagarde has joined a growing panoply of Western luminaries and celebrities such as Bill Gates and actress Emma Watson on China's most popular microblogging platform, Weibo -- and received a warm response.

International Monetary Fund chief Christine Lagarde has joined a growing panoply of Western luminaries and celebrities such as Bill Gates and actress Emma Watson on China's most popular microblogging platform, Weibo -- and received a warm response.

Asian shares rose Tuesday, but gains were capped by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.

Italian government bond yields soared to near 15-year highs, putting the Eurozone's third largest economy front and center of the region's debt crisis, despite scrambling efforts by policymakers to stem the growing contagion.

Gold and silver mining company stocks got a boost Monday from the rising price of their metals and a global resurgence of safe-haven investing.

Venizelos, a long-time rival of Papandreou, is believed to covet the job of Prime Minister.

Euro zone governments rushed to placate feverish bond markets on Monday as the 17-nation currency bloc's debt crisis threatened to accelerate out of control.

Germany Economy Minister Philipp Roesler said on Monday the country's gold reserves with the central bank cannot be touched, adding his voice to opposition to an idea reportedly discussed at the G20 summit of using reserves to boost euro zone bailout funds.

Gold prices climbed from eastern Asia to Western Europe Monday as worries about Europe's sovereign debt crisis spreading to Italy offset news that Greece's prime minster will resign.

With Silvio Berlusconi's fate resting on a group of party rebels threatening to pull the rug from under his government next week, the Italian prime minister is using carrot and stick to try to win over the doubters and pull off yet another parliamentary escape.

After another week of confusion and turmoil in Europe, investors are ditching whatever hopes they once had for a conclusive solution to the debt crisis.

After another week of confusion and turmoil in Europe, investors are ditching whatever hopes they once had for a conclusive solution to the debt crisis.

Financial aid to rescue Europe's debt-stricken countries is set to dominate talks between Christine Lagarde, the head of the International Monetary Fund, and Russia's president, government and monetary officials during her visit to Moscow.

The European Union turned up the heat on bickering Greek politicians Sunday to agree on a crisis coalition, demanding progress toward backing an international bailout deal in the next 24 hours.

China is confident that Europe will be able to overcome its debt crisis, Foreign Minister Yang Jiechi said, adding stability in the Eurozone was crucial for the global economic recovery.

Greek Prime Minister George Papandreou is meeting with Greek President Karolos Papoulias Saturday in the drive for a new coalition government to save the nation from bankruptcy and prevent its debt crisis from spreading chaos across the Eurozone.