The euro slid and European stock markets dived Monday as investors judged that last week's pact to bind EU economies closer together would fail to quell its financial crisis.
On top of euro-zone debt troubles, Wall Street now has to worry about sagging sales from Europe as a recession in the region seems more likely.
It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with European Union founding members France and Germany and committed to binding their economies ever more tightly.
The European Union definitely will not impose sanctions on Iran's oil exports because the measure would harm the global crude market, Oil Minister Rostam Qasemi said Sunday.
The player has also attracted attention from Italian Serie A club Napoli
The United States has dismissed claims by the European Union that Brussels has agreed with a World Trade Organization ruling against subsidies to Airbus and announced that it might ask permission to impose trade sanctions of up to $10 billion annually.
United Nations Climate Change Conference participants agreed on a pact Sunday that for the first time would force all the biggest polluters to take action to slow the pace of global changing.
Hungary's government would like an aid package of between 10 billion euros and 15 billion euros from the European Union and International Monetary Fund to stabilize its economy, preferably on favorable terms, but it would be willing to accept a stricter deal, bank analysts said.
Ministers fought to save U.N. climate talks from collapse on Saturday, searching to narrow differences between rich and poor nations over how quickly to fight global warming.
On top of Eurozone debt troubles, Wall Street now has to worry about sagging sales from Europe as a recession in the region appears more likely than it has previously.
Stocks rose on Friday as European Union leaders agreed on measures to tackle the region's sovereign debt crisis and data showed U.S. consumer confidence rose to a six-month high.
The European Central Bank is capping its weekly bond purchases at 20 billion euros and euro zone officials want banks to use its big new liquidity offer to buy more sovereign debt, ECB sources said on Friday.
Stocks advanced on Friday as European Union leaders agreed on measures to address the region's sovereign debt crisis, while U.S. consumer confidence rose to its highest level in six months.
Kabila, who has been in power since 2001, will serve another five years as president.
The euro rose in early Friday trading after a report indicated China plans to create an investment fund to deal with the eurozone debt crisis.
Gold prices edged higher Friday after Eurozone leaders, in their eighth sovereign debt crisis summit this year, agreed to craft a treaty that will limit the ability of members to run-up unsustainable government debts.
Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.
Crude oil prices dropped below $98 a barrel in Asian trade Friday as investors' hopes dimmed over the outcome of a crucial European Union summit later in the day.
European stock markets and the euro fell on Friday on fears that EU leaders were struggling to come to terms on immediate measures to halt the slide of euro zone government bond markets after two years of deepening crisis.
European Union leaders paused from their summit after hours of talks focused on trying to find a solution to the euro zone debt crisis.
European Union leaders paused from their summit after hours of talks focused on trying to find a solution to the euro zone debt crisis.
European leaders agreed on stricter budget rules for the euro zone Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.
