Eurogroup Chairman Jean-Claude Juncker has proposed ten steps for solving the euro zone crisis including automatic sanctions for fiscally irresponsible governments, greater authority for the Commission and a dividend for taxpayers who rescue banks.
Slovakian lawmakers late Tuesday rejected their governing coalition's bid to expand the Eurozone's bailout fund, toppling the government but heightening prospects a new coalition can push the measure through this week.
Prime Minister Donald Tusk, leader of the center-right pro-market Civic Platform (PO) party, won re-election in Poland Sunday night. For the first time since the fall of communism in 1989, the major political party in Poland has maintained its grip on power. The fairly fought election in the formerly communist country establishes the country's democratic and economic stability.
The Unites States and the European Union has said the trial for former Ukraine Prime Minister Yulia Tymoshenko was politically motivated and has condemned the seven-year jail sentence.
Europe and global investors are nervously eyeing the outcome of the Slovakia vote on the expansion of the Eurozone bailout fund EFSF.
South Africa's rand fell as much as 2 percent against the dollar on Tuesday, breaching 8.0 in thin volumes that exaggerated its moves, before clawing back ground as some players found themselves oversold on the currency.
India and Pakistan agreed to issue multiple visas to businessmen from both countries for one year in order to expand bilateral trade,
U.S. stocks are mixed on Tuesday as investors eye Slovakia's vote on the EFSF expansion and Alcoa's (NYSE:AA) earnings report. Investors seem upbeat as Alcoa shares have surged 2.78 percent in afternoon trading.
Gold prices hovered in a tight range Tuesday, slightly below its opening level, as Slovak lawmakers put off voting on whether to support the expansion of a Eurozone bailout fund.
U.S. stocks are mixed Tuesday morning as investors wait for the result of a Slovak vote on the Eurozone bailout fund expansion.
Slovakia, one of the smallest members of the Eurozone, has the Eurozone waiting and global investors sweating.
Global risk assets on Tuesday are weighed by a snag in passing a measure to increase the size and powers of the Eurozone bailout fund EFSF.
Former Ukrainian Prime Minister Yulia Tymoshenko was sentenced to seven years in prison by a judge in Kiev on Tuesday.
U.S. stock futures are slightly down as investors await the results of a key Eurozone vote and Alcoa’s (NYSE:AA) earnings report.
A Slovak ruling party said it would abstain on Tuesday from a vote on expanding the euro zone's EFSF rescue fund, forcing the government to turn to opposition parties to push through a deal agreed by the currency bloc to contain the Greek debt crisis.
Stock index futures were lower on Tuesday after a strong rally in the prior session as investors awaited the results of a key vote by Slovakia on expanding the euro zone rescue fund.
Slovak Prime Minister Iveta Radicova put her government on the line on Tuesday by saying that a ballot on expanding the euro zone rescue mechanism that one of her junior ruling partners opposes would also be a vote of confidence in her cabinet.
A Ukrainian court Tuesday sentenced former Prime Minister Yulia Tymoshenko to seven years in prison for abuse of office in relation to a 2009 gas deal with Russia.
A Slovak ruling party said it would abstain on Tuesday from a vote on expanding the euro zone's EFSF rescue fund, forcing the government to turn to opposition parties to push through a deal agreed by the currency bloc to contain the Greek debt crisis.
Stock index futures pointed to a lower open on Wall Street on Tuesday following a brisk rally, with futures for the S&P 500 down 0.7 percent, Dow Jones futures down 0.6 percent, and Nasdaq 100 futures down 0.4 percent at 0938 GMT.
Gold eased 1 percent early Tuesday, giving up some of the previous day's gains, as stocks and the euro were pressured by waning optimism over a new plan to tackle euro zone debt, and ahead of a vote in Slovakia to ratify changes to the bloc's rescue fund.
The euro zone sovereign debt crisis has become systemic and risks to the economy are increasing rapidly with Europe's banks in the danger zone, European Systemic Risk Board Chairman Jean-Claude Trichet said on Tuesday.
