Result Page 94 for European union news & latest pictures from ibtimes.com

Wall Street set to open lower on turmoil in Italy

Stocks were poised for a lower open on Monday as political turmoil in Italy sparked worry the euro zone debt crisis could overwhelm the region's third largest economy.

Greek Leaders Set to Pick New PM, Media Tips Papademos

Greek political leaders were set to choose who will lead a new coalition on Monday and push through a bailout before the country runs out of money in mid-December, with local media tipping former ECB deputy head Lucas Papademos for the job.

Germany's Gold Cannot be Touched - Economy Minister

Germany Economy Minister Philipp Roesler said on Monday the country's gold reserves with the central bank cannot be touched, adding his voice to opposition to an idea reportedly discussed at the G20 summit of using reserves to boost euro zone bailout funds.

Inflation, debt crisis hurt euro zone retail sales

Retail sales in the 17 countries sharing the euro fell more than expected in September despite some resilience in powerhouse Germany, the EU's statistics office said on Monday, reinforcing concern that the bloc's economy may be heading for a recession.

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A protestor holds a placard next to the euro sculpture outside the European Central Bank (ECB) headquarter during a demonstration of the occupy-movement in Frankfurt's banking district

Eurozone Countries Could Split, Says Goldman Sachs Exec

Countries in the Eurozone will find it increasingly unattractive to stay in the single currency, if there is a German-led fiscal integration, the chairman of Goldman Sachs Asset Management said in a Sunday Telegraph interview.

Greek PM George Papandreou and FM Evangelos Venizelos applaud after winning a vote of confidence in the Greek parliament in Athens

EU Fans the Flames of Change in the Government of Greece

The European Union turned up the heat on bickering Greek politicians Sunday to agree on a crisis coalition, demanding progress toward backing an international bailout deal in the next 24 hours.

A sculpture showing the euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt

Insight: Euro has new politburo but no solution yet

Europe has a new informal leadership directorate intent on finding a solution to the euro zone's debt crisis, but it has yet to prove its ability to come up with a lasting formula.

PRESIDENT OF THE CENTRAL BANK OF LUXEMBOURG YVES MERSCH.

ECB Debates Ending Italy Bond Buys in Case Reforms Don't Come

The European Central Bank frequently discusses the possibility ending the purchase of Italian government bonds in case it concludes Italy is not adopting promised reforms, said Yves Mersch, an ECB governing council member.

Greek PM Papandreou walks towards the Presidential Palace in Athens

Papandreou Seeks to Form Unity Government in Greece

The principal opposition party, New Democracy, has demanded that Papandreou call early elections and insisted it will not accept any coalition government with the current Prime Minister.

Eurozone Faces 10 Lean Years: German Chancellor Merkel

German Chancellor Angela Merkel said on Saturday it would take a decade before the Eurozone was in a better position and there was much work left to be done to solve the bloc's sovereign-debt crisis.

Greek PM to Push Coalition Plan in Meeting with President

Greek Prime Minister George Papandreou is meeting with Greek President Karolos Papoulias Saturday in the drive for a new coalition government to save the nation from bankruptcy and prevent its debt crisis from spreading chaos across the Eurozone.

Greek Premier Papandreou addresses the Greek parliament in Athens

Greek PM George Papandreou Wins Confidence Vote

Greek Prime Minister George Papandreou has won a parliamentary confidence vote and avoided snap elections that would have affected Greece's bailout deal and the Eurozone's economic crisis.

Gold Falls on Thin Volume, Follows Risky Assets

Gold fell on Friday in one of the quietest trading day, as the metal tracked riskier assets on fresh worries about the euro zone bailout fund and a mildly encouraging U.S. nonfarm payrolls report.

Wall Street Falls on Eurozone Rescue Fund Concerns

Stocks retreated on Friday after two days of gains as wealthier nations appeared to pull back from a European Union plan to broaden funding for a plan to deal with the region's sovereign debt crisis.

Eurozone Finds No New Money for Debt Crisis at G20

The Eurozone won verbal support but no new money at a G20 summit on Friday for its tortured efforts to overcome a sovereign debt crisis, while Italy was effectively placed under IMF supervision.

Catholic Ireland Closes Vatican Embassy

The Irish Republic will also shut down its embassies in Iran and East Timor.

Berlusconi Agrees to IMF Oversight of Italy’s Austerity Program

Jose Manuel Barroso, the president of the European Commission (EC), nonetheless told reporters in Cannes that Berlusconi was not forced into it.

ECB should end bond purchases soon, Stark says

European Central Bank policymaker Juergen Stark urged the bank on Friday to call an early halt to its bond-buying program, stressing it sees the plan as temporary even as it faces pressure to scale purchases up to tackle the euro zone crisis.

EU Probes Samsung and Apple Over Patents

EU regulators are investigating whether Samsung Electronics Co Ltd and Apple Inc have breached EU antitrust laws with patent infringement claims in their global legal battle, the European Commission said on Friday.

A foreign currency dealer of the Korea Exchange Bank looks at computer monitors at the bank's dealing room in Seoul

World Stocks, Euro Rise on Hopes Greece Drops Referendum

World stocks and the euro rose on Friday, boosted by expectations that Greece will avoid a referendum on a new bailout package, easing imminent concerns of a Greek default and its potential shockwaves through the euro zone.

Asian Shares Rise on Hopes Greece will Drop Referendum

Asian shares rallied more than 3 percent and the euro steadied Friday on hopes that Greece will abandon a proposed referendum on a European Union bailout, but investors remained cautious over a confidence vote scheduled for later in the Greek parliament.

Italy's Prime Minister Silvio Berlusconi

Italy Agrees to Let EU, IMF Monitor Reforms

Italy, under fierce pressure from financial markets and European peers, has agreed to have the IMF and the EU monitor its progress with long- delayed reforms of pensions, labor markets and privatization, senior EU sources said Friday.

Asian Shares Rise on Hopes Greece will Shelve Referendum

Asian shares rose more than 2 percent and the euro steadied Friday on hopes that Greece will abandon a proposed referendum on a European Union bailout, but investors remained cautious over a confidence vote planned in the Greek Parliament.

Papandreou Agrees to Deal to Step Down

Greek Prime Minister George Papandreou has agreed to a deal to step down if certain circumstances are met.

S.Africa's rand firms vs dollar, more gains seen

South Africa's rand firmed against the dollar on Thursday as Greek government plans for a referendum on a sovereign bailout appeared to unravel with the expected collapse of the government.

Rough diamonds are displayed at the Botswana Diamond Valuing Company in Gaborone

US says compromise on Zimbabwe diamond sales was necessary

The United States agreed to a compromise allowing Zimbabwe to export diamonds that human rights groups say are tainted by abuses, to prevent the paralysis of the global system for stopping trade in blood diamonds, the State Department said on Wednesday.