President Karolos Papoulias suggested he may propose a government led by non-politician technocrats with broad national appeal, somewhat similar to what Italy adopted with Prime Minister Mario Monti.
The euro zone just avoided recession in early 2012, but the region's debt crisis sapped the life out of the French and Italian economies and widened a split with paymaster Germany.
Greek leftists rejected a last-ditch proposal by the head of state on Monday to put technocrats in charge of the country, as financial markets slid on speculation that political turmoil would force Athens out of the euro zone.
Following a meeting in Abuja, the Economic Community of West African States (ECOWAS) has threatened renewed sanctions against a Malian military junta that overthrew the country's democratically elected government in March.
The social network is expected to make the internet's largest initial public offering ever recorded at an estimated company valuation of $96 Billion. Projecting such high figures, investors unfamiliar with the IPO market and more familiar with Facebook as a company will most likely be asking themselves -- what's the worst that could happen?
The president of Greece late Monday summoned the heads of leading political parties in an apparently last-chance bid to cobble together a coalition government and avoid national elections in June.
Hollande also wants the euro zone fiscal pact re-written -- something Merkel has adamantly refused to do.
On Monday, South Korean President Lee Myung-bak visited Myanmar to meet with top officials there. His decision to visit with Thein Sein signifies Myanmar's growing diplomatic importance in the region.
Venezuelan President Hugo Chavez returned from Cuba Saturday after completing another round of radiotherapy treatment for an undisclosed type of cancer.
Out of 289 Republicans in congress, only one -- U.S. Rep. Ileana Ros-Lehtinen (R-Fla.) -- shares the same views as Obama on gay marriage. She may be the bravest Republican in congress.
German government bond yields hit fresh all-time lows while Spanish borrowing costs rose sharply Monday as worries intensified over whether Greece is edging towards leaving the euro zone, sapping demand for riskier assets.
European stocks plunged Monday as fears that Greece will leave the euro zone turned into a virtual consensus about the debt-choked nation's departure. The downdraft also hammered U.S. stocks, which opened sharply lower.
No unity government can emerge, Kouvelis told Greek television.
Bombay Stock Exchange's Sensex lost more than 100 points Monday afternoon trade as the slump in European markets and a worse-than-expected inflation for April hit the markets hard.
India's inflation rose unexpectedly in April compared to last year denting prospects further loosening the monetary policy to regain the economic growth momentum.
Asian stock markets advanced on Monday after People's Bank of China announced a second cut this year in the reserve ratio to boost economic growth.
Financial-market participants around the world have reasons for both optimism and pessimism at the dawn of this trading week. But nobody appears to care, really. Unless the reason centers on Greece -- and, by implication, the future of the euro zone.
The estimate of California's budget deficit in its next fiscal year has ballooned to $16 billion from $9 billion, state Gov. Jerry Brown divulged in a YouTube video posted this weekend. Brown said the widening gap was caused by changing conditions on both the revenue and the cost sides of the ledger.
Chancellor Angela Merkel's conservatives suffered a crushing defeat Sunday in Germany's most populous state, which could embolden the left opposition to step up its criticism of her European austerity policies.
Gunmen shot dead a top Afghan peace negotiator in the capital Kabul on Sunday, dealing another blow to the country's attempts to negotiate a peace deal with the Taliban.
Greece's president met with party leaders on Sunday in a final bid to form a coalition and avert a new election, but the talks immediately appeared doomed because of deep splits over the EU/IMF rescue plan.
With the call for a fresh round of snap elections to the Hellenic Parliament appearing closer by the hour, European central bankers are getting ready for the possibility Greece may depart the euro zone.
