ECB Governing Council member Jens Weidmann, an opponent of the bank's bond-buying program, told Germany's Spiegel magazine the ECB had burdened itself with considerable risk and it was wrong to abandon established principles of monetary policy.
Brown explained that the financial woes in Europe are, at their essence, a crisis in banking, not debt.
EU officials sought to dispel fears about a bank lending freeze on Saturday, despite a stark warning from senior aides that a systemic crisis in sovereign debt now threatened a new credit crunch.
US Equity markets advanced modestly as concerns over the European debt crisis overshadowed international central banks efforts to stabilize the European monetary system.
Gold and other precious metals jumped Friday on bargain hunting and a loss of faith that global central bankers will be able to contain Europe's sovereign debt crisis to Greece.
At a meeting with E.U. finance ministers, U.S. Treasury Secretary Timothy Geithner made the case for a leveraged E.U. buyout fund ala the U.S.'s successful 2008 TALF, to help address Europe’s banking crisis, but the structure and size of any beefed-up intervention mechanism remained undetermined as of Friday night in Europe.
Stocks were little changed on Friday as investors booked profits after a four-day rally, but optimism European leaders were on the right track in tackling the region's debt problem kept losses in check.
Geithner is currently in Warsaw, Poland to meet with Eurozone finance ministers to find a way out of the continent’s huge debt problems after more than two years of bailouts, wrecked economies and bickering.
Stock index futures were lower on Friday after equities notched four days of gains and as European policymakers gathered to discuss the region's debt crisis, while Research in Motion weighed on the technology sector after a weak earnings report.
Stock index futures were lower on Friday after equities notched four days of gains and as European policymakers gathered to discuss the region's debt crisis, while Research in Motion weighed on the technology sector after a weak earnings report.
Stock index futures were lower on Friday after equities notched four days of gains and as European policymakers gathered to discuss the region's debt crisis, while Research in Motion weighed on the technology sector after a weak earnings report.
World shares rose half a percent to one-week highs on Friday while the euro clung to gains from the previous session on hopes that European policymakers would finally come up with a bold plan to combat a deepening debt crisis.
European shares were set for a stronger open on Friday and the euro steadied as investors hoped for a big policy move from European finance ministers to combat the region's growing debt crisis.
Treasury Secretary Timothy Geithner will discuss with European finance ministers the possibility of leveraging the euro zone's bailout fund to make it more effective in fighting the debt crisis.
The Italian parliament gave final approval on Wednesday to a much-altered austerity plan aimed at stemming a debt crisis engulfing the euro zone's third largest economy.
Stocks rose 1 percent in a third day of gains on Wednesday after European leaders displayed new urgency in efforts to contain the euro zone debt crisis.
Treasury Secretary Timothy Geithner on Wednesday urged European leaders to act more forcefully to solve Europe's escalating debt crisis and said they have the financial and economic capacity to do so.
With her new drama In Darkness Agnieszka Holland has returned to her native Poland to produce a haunting portrait of the Holocaust that could net the veteran director another Oscar nod.
Treasury Secretary Timothy Geithner on Wednesday tried to shore up confidence in Europe's ability to solve its escalating debt crisis, saying they had the financial and economic capacity to do so.
The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.
The Federal Reserve, facing rising global financial strains and recession fears, is poised to increase downward pressure on longer-term interest rates next week in a bid to accelerate a sputtering U.S. recovery.
Silver prices fell in electronic trading Tuesday afternoon following a big 2.4 percent gain during floor trading as the possibility that Europe's industrial activity will plunge took some shine off the white metal.
