EUROPEAN UNION

Finance ministers from euro zone nations are meeting in Brussels on Monday to discuss their likely final approval of a second package of rescue loans for Greece.

Mounting the pressure on New Delhi, the Italian Embassy has sent a letter to the Union Ministry of External Affairs demanding the release of the Italian marines detained following a rogue firing off the southern coast of India, which resulted in the death of two Indian fishermen on board a fishing boat.

President Nicolas Sarkozy, recasting himself as France's savior from low-cost competition and high immigration, threatened to disregard European limitations on protectionism as he sought to give his re-election campaign a second wind Sunday.

Greek Finance Minister Evangelos Venizelos will run unopposed for the leadership of the Socialists, party officials said Sunday, as the political focus shifts towards a parliamentary election now that Athens has secured a bond swap deal.

China had a trade deficit of $31.48 billion in February, according to data revealed by the General Administration of Customs Saturday. This is another indication that global economic condition is continuing to affect the country's exports.

In a bid to pressurize Iran into giving up its nuclear weapons ambitions, the Chairman of the U.S. Senate Armed Services Committee said a naval blockade of Iranian oil exports should precede a U.S.-Israel joint military action against the Islamic nation.

China's trade balance plunged $31.5 billion into the red in February as imports swamped exports to leave the largest deficit in at least a decade and fuel doubts about the extent to which frail foreign demand or seasonal distortion drove the drop.

The Geneva-based trade body will uphold a ruling that Boeing got billions in dollars in unfair subsidies from the U.S. government, Reuters reported.

The International Swaps and Derivatives Association decided Friday that Greece’s debt swap was a restructuring credit event. Its decision triggers payouts on almost $3.2 billion of credit default swaps -- insurance-like contracts aimed at protecting creditors from loss.

The World Trade Organization has broadly upheld a ruling that Boeing Co (BA.N) took billions of dollars of unfair subsidies, breathing new life into an epic trade spat that has already faulted European aid to Airbus, people familiar with the matter said.

The summit will seek to pressure Iran to halt its uranium enrichment program.

The French president's hopeful comments came as Germany's finance minister warned against overreacting to the deal, saying Greece must use its sovereign debt lifeline wisely.

German exports rose 2.3 percent in January, driven by increased activity in all sectors of the economy, the German Federal Statistics Office, Destatis, said Friday.

The U.S. experienced a trade deficit of $52.6 billion in January, an increase of $2.2 billion from December, according to a report by the U.S. Department of Commerce.

Greek officials say the deal eases their country's debt burden by €105 billion. Next up: Action by the European Union to determine if Athens will get emergency loans to help avert a default.

Deutsche Bank has taken 5-10 billion euros ($6.6-$13.3 billion), of the European Central Bank's (ECB) long-term refinancing operation (LTRO), which offers three-year loans to banks at a rate of 1 percent according to a report.

The result should clear the way for the European Union and International Monetary Fund to release a 130 billion euro bailout package agreed with Greece in February.

Greece had until Thursday afternoon to persuade at least 70 percent of private holders of its government debt to accept a swap that includes losses of up to 74 percent.

Ahani also said that foreign powers need not fear Iran’s atomic ambitions.

Khamenei also criticized Obama for “still harboring illusions” that economic sanctions will pressure Iran to relinquish its nuclear activities.

China has blocked purchases of Airbus planes by Chinese companies in reaction to a controversial European carbon tax, the CEO of Airbus parent European Aeronautic Defense & Space Co. NV (Paris: EAD) said Thursday.