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What now for euro, as the Greek debt crisis worsens?

As the Greek debt crisis continues to worsen, the euro looks poised to slip further.

IMF urges joint action over euro zone crisis

The International Monetary Fund urged broad-based action to combat the euro zone debt crisis, saying it was ready to give Greece more aid and asking the European Central Bank to tread carefully in hiking interest rates.

Greek unions take to the streets anti-austerity strike

Public services have been halted including trains, ferries and flights have been disrupted by the protests in Athens on Wednesday morning.

Price to Buy Gold Hits 1-Week High, Silver Regains 1/3rd of 30% Plunge

Gold rallied to one-week highs at $1526 per ounce in Wednesday morning trade - a gain of 4.3% from last Friday's low - before falling back as world stock markets also cut their rally. Silver has now regained a third of its losses since falling over 30% from a 31-year peak of $48.70 at the end of April.

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Xoma Could Initiate Pivotal Behcet’s Trial by Year-End 2011: Analyst

RBC Capital Markets said Xoma Ltd. (NASDAQ: XOMA) continues to make steady albeit measured progress toward initiating a pivotal trial in Behcet’s disease, which could begin by year-end 2011, pending regulatory feedback.

Morning Digest on Arab Unrest

The European Union has imposed an arms ban on Syria, besides a freeze and visa ban on 13 top Syrian officials, including the brother of President Bashar al-Assad. Fifty-four Somalis trying to escape Libya are feared dead after an overcrowded boat with hundreds aboard capsized off the coast of Tripoli.

Palestinians not to get salaries as Israel withholds payments

Palestine Prime Minister Salam Fayyad said on Monday that the Palestine Authority (PA) will not be able to pay the salaries of its employees on time this month due to Israel's hostile stand.

Greece seeks 2012 funding as lenders probe progress

Greece said it was discussing with its euro zone partners ways to plug a 27 billion euro ($39 billion) funding hole next year as a fresh credit rating cut on Monday made its return to markets even more difficult.

Pakistan PM's speech on Osama bin Laden situation (FULL-TEXT)

Pakistan Prime Minister Yousuf Raza Gilani addressed his country's Parliament on the Osama bin Laden operation in Abbottabad.

Greece may need another bailout, but we won’t contribute to it: UK

The British Chancellor of the Exchequer George Osborne has warned that Greece may need additional bailout funding, but that the U.K. is unlikely to contribute to any such payouts.

Week Ahead in Life Sciences

Wedbush Securities said that among the companies it covered in Life Sciences this week Chelsea Therapeutics International Ltd. (NASDAQ: CHTP) and Pacira Pharmaceuticals Inc. (NASDAQ: PCRX) are reporting earnings.

Greece leaving euro zone not discussed: Juncker

Finance ministers from Germany, France, Italy and Spain did not discuss Greece leaving the euro zone or the possibility of a Greek debt restructuring during a meeting in Luxembourg on Friday, Eurogroup Chairman Jean-Claude Juncker said.

UPDATE: Greece officials deny report they seek to exit euro

Burdened with harsh austerity measures, Greece is considering leaving the euro, unnamed Germany government officials told Germany publication SPIEGEL ONLINE.

Trichet signals no ECB rate rise in June

European Central Bank President Jean-Claude Trichet signaled on Thursday that euro zone interest rates are unlikely to rise next month but left the door firmly open for an increase in July.

Portugal says 78 billion euros sufficient, flags recession

Portugal's caretaker government signed up to a 78 billion euro EU/IMF bailout on Thursday, warning its terms would push it into recession this year and next.

Portugal to sink into deep 2-year recession after bailout pact: finance minister

The Portuguese will likely descend into a deep recession over the next two years, after Lisbon country signed terms of a bailout from the European Union, warned the country’s finance minister.

ECB meets with markets on alert for codeword signal

The European Central Bank will show its determination to check firming price pressures at its meeting on Thursday with markets focusing on whether it uses the strong vigilance codewords to signal a rate rise in June.

Rising tide of criticism against US killing of Osama

Kenneth Roth, the executive director of Human Rights Watch (HRW), has criticized the U.S. government for killing Al Qaeda chief Osama bin Laden without due process.

Gunmen attack police in northern Turkey after Erdogan rally

Gunmen ambushed a convoy of police in northern Turkey shortly after a rally was held there by Prime Minister Recep Tayyip Erdogan, according to Turkish media reports.

Silver Prices Sink into Bear Market, Gold Favored as Mexico Leads Central-Bank Accumulation

Gold sat tight as Silver Prices sank once more in London trade on Wednesday morning, holding above last night's 2-session low of $1528 per ounce while silver dropped to new 3-week lows, flirting with the technical definition of bear market.

Portugal bailout agreed but political support needed

Portugal reached a deal with the European Union and the IMF Tuesday on a 78 billion euro 3-year bailout, the third euro zone member to do so after Greece and Ireland, caretaker Prime Minister Jose Socrates said.

Portugal agrees on a 78-billion euro EU/IMF bailout

Portugal has agreed a three-year, 78-billion-euro ($116 billion) bailout with the European Union and IMF, caretaker Prime Minister Jose Socrates said on Tuesday.

EU, IMF say Portugal bailout deal close

Portugal is close to reaching an agreement with the European Union and IMF on a bailout for the debt-laden country and there are no disagreements between the donors, the European Commission and the IMF said on Tuesday.

World leaders hail death of Osama Bin Laden

Here is a selection of comments from prominent global figures on news of the death of Osama Bin Laden:

Mugabe to attend pope’s beatification ceremony in Vatican

The beatification ceremony of the late Pope John Paul II in the Vatican will have at least one very unusual guest – Robert Mugabe, the murderous dictator of Zimbabwe.

Protests planned across Syria as west seeks to impose sanctions on Assad

The Syrian government has deployed troops on the streets of the capital Damascus with tear gas to stamp out yet another round of anti-regime protests, according to reports.