PORTUGAL

U.S. investors remained concerned that Europe's leaders are not getting ahead of the Greek crisis, which could result in a full-fledged Europe bank crisis, even as German Chancellor Angela Merkel, while not committing more German funds to possible intervention, again dismissed talk of a Greek default.

Alarm is growing in the United States at Europe's inability to solve its debt crisis and talk of a full-on Greek default is on the rise. Following are the key events and developments on Tuesday.

Fiat and Chrysler chief executive Sergio Marchionne said the euro single currency system could be derailed unless European leaders resolved the debt crisis.

Gold prices steadied in volatile trade on Tuesday after briefly extending the previous session's 2.5 percent slide below $1,800 an ounce, as the dollar's gains versus the euro put fresh pressure on the precious metal.

European shares fell again Tuesday morning, hitting a fresh two-year low for the second straight session as investors worried policymakers had no plan to stem the euro zone debt crisis, which could see Greece default.

Fiat chief executive Sergio Marchionne said the euro single currency system could go off the rails unless European leaders effectively resolve the current debt crisis.

The 5 ft 10 1/2 inches tall beauty is also the fourth African woman to win the title. The last African to win is Mpule Kwelagobe, Miss Universe 1999 from Botswana. Other winners came from Namibia (1992) and South Africa (1978).

Leila Lopes, a 25-year old dusky beauty from Angola won the coveted Miss Universe 2011 title, beating the contestants from Ukraine (23-year-old Olesia Stefanko, 1st Runner-up) and Brazil (Priscila Machado, 2nd Runner-up). The 3rd Runner-up was Miss Philippines and 4th Runner-up was Miss China.

The International Monetary Fund acknowledged on Monday it had not anticipated a surge in public debt in debt-stricken countries such as Greece and called for expanded analysis of growing debt piles in advanced economies.

World shares tumbled 2 percent on Monday with European equities down 3 percent for a more than 20 percent loss this year as investors worried Greece was edging closer to default.

World shares tumbled nearly 2 percent on Monday with European equities at 26-month lows, down more than 20 percent this year, as investors worried Greece would default amid signs of rifts among euro zone policymakers.

International Monetary Fund resources could prove to be sorely lacking if global financial conditions worsen and more countries turn to the global lender for financial rescues, IMF staff said in an internal document.

Gold prices fought back Friday against a powerful downdraft of worry about Europe's currency, prosperity and even unity to end the day in positive territory.

Germany's highest court said on Wednesday that parliament must have a bigger say in euro zone rescue packages, in a landmark ruling that may make it more difficult for Europe to respond swiftly in delivering aid to crisis-hit member states.

Germany's highest court said on Wednesday that parliament must have a bigger say in euro zone rescue packages, in a landmark ruling that may make it more difficult for Europe to respond swiftly in delivering aid to crisis-hit member states.

The euro zone's most indebted nations were scrambling on Wednesday to convince investors and the rest of Europe of their commitment to tackle their debt problems, even as the bloc's main paymaster Germany battles increasing opposition to further aid.

Asian shares fell and U.S. Treasury yields dropped to the lowest levels in at least 60 years on Tuesday on fears that Europe's sovereign debt troubles are worsening and could trigger a second full-blown banking crisis.

Asian shares fell and the euro slipped Tuesday amid fears that Europe's sovereign debt troubles are worsening and could trigger a second full-blown banking crisis.

LONDON - European stocks tumbled 4 percent on Monday, with banks plumbing a more than two year low, as fears for the future of the euro zone bubbled up against a background of weak economic growth and threats to the banking sector.

LONDON - European stocks shed 3 percent on Monday and the euro sank against the dollar as markets weighed a risk-heavy outlook for the euro zone, dominated by peripheral debt concerns and political uncertainty in Germany.

Stocks fell on Monday and the euro hit a three-week low versus the dollar as worries about Greek and Italian fiscal deficits and a regional election rout for Germany's ruling party cast more doubt on the euro zone's ability to solve its debt crisis.