EUROPEAN UNION

Italy and Britain called on the European Union on Wednesday to promote steps to boost economic growth and not focus solely on austerity to bring down the debt levels that have thrown the single currency into crisis.

Early Wednesday morning, the German Ministry of the Economy cut its forecast for that country's economic growth to near-recessionary levels. The market could not care less: a benchmark index for the local stock market was up, a sale of the government's sovereign debt was reported as drawing record demand, and another report showed investors were growing more optimistic on German equities.

The International Monetary Fund is estimating it needs to raise up to $600 billion in new resources to lend to countries struggling with the fallout from the euro zone debt crisis, IMF sources said on Wednesday.

Spain took in its stride the first test of investor appetite for its debt since a two-notch credit ratings downgrade, selling short-term paper ahead of a far trickier hurdle later this week, when it tries to place longer-dated bonds.

German Investor confidence rose sharply in January as cheap, long-term loans provided by the European Central Bank soothed the financial markets, suggesting that the economy is stabilizing.

Consumer prices in the Eurozone fell more than previously expected in December, the start of a retreat from a November peak that should give the European Central Bank more room to cut interest rates as the economy heads for recession.

Consumer prices in the euro zone fell more than expected in December, data showed on Tuesday, signaling a retreat from a November peak and giving the European Central Bank more room to cut rates to historic lows as the economy heads for recession.

Why would Israel take such a risk to engineer such acts against one of their deadliest enemies, Iran?

Credit rating agency says decision inevitable following cuts to creditworthiness of two EFSF guarantors, France and Austria.

Asian shares inched higher and the euro stayed above a 17-month trough Tuesday as investors focused on economic data from China to gauge the impact of the eurozone debt crisis on global growth.

Twelve people were killed Monday in Syria, where a peace plan monitored by Arab observers has failed to douse a 10-month-old struggle between President Bashar al-Assad and his foes.

Twelve people were killed on Monday in Syria where a peace plan monitored by Arab observers has failed to douse a 10-month-old struggle between President Bashar al-Assad and his foes.

An exit from the euro by Greece appears likelier by the day.

European shares and the euro gradually recovered on Monday from early losses triggered by the mass downgrade of euro zone sovereign ratings last week, but they still looked vulnerable amid rising fears of a disorderly Greek debt default.

Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.

The government had enacted a series of cuts to salaries and benefits, while hiking taxes.

Greece must urgently break a deadlock in debt swap talks triggered by unreasonable demands from its partners, the head of a group of representing its private sector warned on Monday, as Athens raced against the clock to prevent an unruly default.

European shares and the euro recovered from early losses on Monday in the wake of a mass downgrade of euro zone sovereign ratings, but trading was choppy with U.S. markets closed and the outlook for Greek debt talks uncertain.

Standard & Poor's credit rating downgrades of nine Eurozone countries will fuel attempts by European Union lawmakers to slap stricter curbs on sovereign ratings.

Commercial banks parked almost half a trillion euros at the European Central Bank, the highest on record, as the mix of debt crisis worries and a recent giant injection of ECB cash left banks awash with money but too scared to lend it.

Mass Eurozone ratings downgrades are unlikely to shake up investors too much, but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been firmly doused.