EUROPEAN UNION

With the help of loans by the European Union and International Monetary Fund, the Egyptian economy is attempting a comeback.

The retail sales rise was the highest since Sept. - suggesting that the world's No. 1 economy ended 2012 with more of a bang than a whimper.

The ECB sees the euro zone strong enough to not need monetary help, but the bank's confidence in that outlook appears paper thin.

Despite small rise in sentiment in December, the latest euro zone data still presented a decidedly downbeat economic picture.

The U.S. trade deficit likely narrowed in November, and the euro-zone recession probably worsened at the end of last year.

Key players in the continuing Europe debt saga and financial crisis announced what amounted to Christmastime gifts to Greece and Britain.

The chairman of the Norwegian Nobel Committee accepted the Nobel Peace Prize on Monday on behalf of the EU.

ECB President Draghi faced a hostile reception at a monthly q-and-a session, as the media pressured him on Europe's economic woes.

Superstorm Sandy will likely put dent in the November jobs report.

Euro zone finance ministers and the IMF announced on Monday night that they reached a deal on an urgently needed bailout for Greece.

European Union budget talks collapse as "givers" and "takers" fail to agree on spending cuts.

European leaders are meeting this week in Brussels to hammer out the contentious issues that will be debated as they form their next budget.

The decision should help President Hollande convince his compatriots that more reforms are needed.

Stock markets in Asia are expected to move along with the global markets in the coming week in the absence of any major regional risk events and a light calendar for economic news.

Asian markets fell in the week with the investor sentiment turning negative following the concerns about the U.S. facing a “fiscal cliff” consisting of tax increases and spending cuts at the beginning of next year.

The EU and several Latin American countries have ended a trade dispute after agreeing to gradually lower tariffs on banana exports to Europe.

This week, the two largest economies will have political transitions, three central banks will meet, and Greece's parliament is set to vote on key reforms.

The U.S.'s rank has plummeted, while overall global prosperity has increased.

The U.S. employment situation summary Friday will carry the most weight, because it will be the last jobs report before Election Day.

Confusion reigns after the EU summit ends, and leaders are still at odds over a future banking union.

Barack Obama and Mitt Romney will cover both domestic and foreign policies during the second U.S. presidential debate Tuesday.