Sponsored by International Monetary Fund

German Chancellor Angela Merkel will thrash out differences with French President Nicolas Sarkozy Sunday over how to use the Eurozone's financial firepower to counter a sovereign debt crisis threatening the global economy.

Greece said on Thursday it concluded talks with the IMF on a vital tranche of aid but inspectors said negotiations on the bailout were continuing and that there was no final conclusion with any party.

The Vancouver housing market is attracting unusually strong demand but Canada as a whole does not face a housing bubble that requires government action, Finance Minister Jim Flaherty said on Wednesday.

The International Monetary Fund urged Europe on Wednesday to pump as much as 200 billion euros into its banks and warned of a freeze in lending and an ensuing recession if the region's leaders failed to do more to reassure panicky investors.

Inspectors from the IMF, EU and the European Central Bank are likely to recommend releasing a vital tranche of aid to Greece but Athens must first do more to convince them it can implement reforms, a senior official from the troika said on Wednesday.

Airliners were grounded, trains halted and tax offices shut on Wednesday as Greek state workers walked off the job to protest against austerity, defying a plea by the government to rally behind its effort to fend off national bankruptcy.

European banks -- particularly those based in France and Germany with heavy exposure to Greek government bonds -- are suffering the worst damage.

Greek public sector workers blocked the entrances to several ministries on Tuesday to protest against austerity measures, disrupting talks with EU and IMF inspectors on a vital aid tranche.

European stocks are dropping on reports that the Greek government will not achieve the deficit targets it needs to receive the next tranche of the bailout from the European Union (EU) and International Monetary Fund (IMF).

Greece's admission that it will miss its deficit targets this year and next despite harsh new austerity measures sent stock markets reeling on Monday and raised new doubts over a planned second international bailout.

European Central Bank member Christian Noyer said on Monday it is unrealistic to expect an increase in Europe's bailout fund beyond what was agreed in July, but that he is open to schemes that would allow leveraging to expand capacity.

European Central Bank member Christian Noyer said on Monday it is unrealistic to expect an increase in Europe's bailout fund beyond what was agreed in July, but that he is open to schemes that would allow leveraging to expand capacity.

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.

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.

Greece will miss the deficit targets set in its EU/IMF bailout this year and next as it faces worse-than-expected recession, sources said ahead of the adoption by the cabinet of the 2012 draft budget on Sunday.

Greece will miss 2011 and 2012 budget deficit targets set by the EU and the IMF, according to figures published by the finance ministry on Sunday after the cabinet adopted the draft 2012 budget.

Greece will miss deficit targets set just months ago in a massive bailout package, sources said citing a budget draft being adopted by the cabinet on Sunday, in a setback in Europe's efforts to stave off the country's bankruptcy.

Greece will most likely receive the next tranche of the EU/IMF bailout loan in October, Austria's Finance Minister Maria Fekter was quoted telling German newspaper Welt am Sonntag on Sunday.

Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF to free up loans and stave off bankruptcy.

Greece was expected to unveil its plan on Sunday to begin laying off state workers, the most contentious part of a reform package demanded by the EU and IMF to free up loans and stave off bankruptcy.

Greece hopes to clinch a deal with its EU and IMF lenders on how to meet a promise to lay off state workers -- a key condition to free up urgently needed bailout aid -- by Sunday, senior government officials said.

Greek officials held talks on Saturday with European Union and International Monetary Fund negotiators to free up urgently needed bailout loans, but the government and the lenders were reported to be at odds.

Germany's parliament approved new powers for the euro zone's crisis fund on Thursday but it was not clear if Angela Merkel got enough votes from her coalition to silence rebels worried about funding a series of bailouts of countries like Greece.

Greek civil servants blocked the doors of government ministries on Thursday in protest against austerity ahead of the start of talks with the EU and IMF on the delivery of an aid tranche Athens needs to avoid running out of cash next month.

International auditors return to Athens on Thursday to deliver a verdict on whether Greece's tougher austerity measures qualify for aid to avert a default that would plunge the country into bankruptcy.

Stock indices have shown three consecutive days of gains. Indeed, the Dow had jumped 4.3 percent over the past three sessions, following deep losses incurred last week.

EU and IMF inspectors will return to Greece on Thursday to decide whether Athens has done enough to secure a new batch of aid vital to avoid bankruptcy, while Germany suggested a new bailout may have to be renegotiated.

A decision of providing the Greek government with more badly needed bailout cash hinges on a review of Athens’ debt-reduction progress by officials from the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF).

Sales of gold by European central banks and the International Monetary Fund fell to their lowest annual level since an agreement governing such transactions was ratified in September 1999, the World Gold Council said Tuesday.