Spain's economy ministry said on Friday it had not made a request for economic aid from the European Union, after a newspaper report that the EU was preparing to activate a package in case Madrid asked for it.
World equities extended their relief rally into a fourth day on Friday on optimism over global economic growth, while the euro steadied as it ran into headwinds above $1.21 after three days of gains.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
The European Central Bank, Germany's constitutional court and China's pension fund gave a triple boost to efforts to stabilize the euro zone on Thursday, lifting the single currency and European stocks.
* ECB extends unlimited liquidity, bonds buying to continue
Here is a timeline of key events in the euro zone debt crisis since last November, when a new Greek government shocked markets by doubling estimates for the country's 2009 budget deficit.
The European Central Bank faces a grilling over the euro zone's debt crisis on Thursday after a torrid month in which it has abandoned resistance to buying government debt and flung its exit strategy into reverse.
Gold prices have surged to the record highs on the Indian commexes hitting Rs.19,198 per ten grams on Multi-Commodity Exchange (MCX) on Tuesday. However, owing to the profit bookings at the upper levels, prices remained weak on Wednesday trading between Rs.18900 to Rs.18999 per ten grams on MCX.
European shares pushed higher on Wednesday, tracking gains in most Asian equity markets, as news of strong Chinese exports sparked a tentative return of risk appetite while the euro stabilized on options demand.
What is your Prediction for Gold in 2010 and 2011
Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.
European leaders are committed to ensuring the survival of the euro and have enough money to meet obligations of heavily indebted member countries, Federal Reserve Chairman Ben Bernanke said on Monday.
The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted Exxon, while the Nasdaq fell after an analyst cut price targets on tech bellwethers such as Amazon.com.
European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.
European Union finance ministers said on Tuesday they must do more to restrain spending and contain a debt crisis that threatens to spread to countries that do not use the euro such as Hungary and Britain.
Wall Street was flat in choppy trade on Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy.
Federal Reserve Chairman Ben Bernanke said on Monday he was convinced Europe was committed to addressing its debt troubles to keep the European Union together.
Finance ministers from the debt-stricken euro zone sought to restore financial markets' confidence on Monday by agreeing how to deploy a vast anti-contagion program if needed by struggling members.
The Australian Dollar was sold off two US Cents towards 0.8200 overnight and has subsequently traded below 0.8200 following reports out of Europe regarding Europe's debt crisis, which may have spread to Hungary.
The global economy looks likely to avoid a relapse into recession, although the next six months may be anemic, with three main causes for concern.
Leading policymakers expressed concern on Friday about the health of the world economy even as they closed ranks behind the euro zone's efforts to tackle a debt crisis that has rattled global markets.
G20 finance ministers and central bankers will endorse efforts to douse the euro zone's debt crisis but are far apart on the contentious issue of a global bank levy, a senior South Korean official said on Friday.
The global recovery had enough momentum before Europe's debt crisis struck to be able to weather it without being derailed, Treasury Secretary Timothy Geithner said on Thursday.
