European Commission President Jose Manuel Barroso urged the European Central Bank to do everything in its power to maintain financial stability in the euro zone, saying the EU faced the biggest challenge in its 50-year history.
The European Union faces the biggest challenge in its history, as a crisis of confidence compounds economic and social problems, European Commission President Jose Manuel Barroso said on Wednesday.
Greece faced a new test in its attempt to avoid bankruptcy on Wednesday as international auditors headed for Athens, while Germany suggested a new bailout may be renegotiated as argument rages over whether private creditors should take bigger losses.
Tensions between the Israelis and the Palestinians grew Tuesday as Israel announced plans for over 1,000 new housing units outside of boundaries established during the 1967 war.
Euro-zone officials are working to magnify the firepower of the region's rescue fund, European Central Bank policymakers said on Monday, while President Barack Obama piled on pressure for Europe to staunch a sovereign debt crisis that threatens the world economy.
The Greek government began a race for parliamentary approval of a stepped-up austerity package vital to keep the debt-laden euro zone state afloat and buy time for Europe to approve new rescue measures.
Bankers are bracing for a Greek default, and their best hope is that Europe can erect firewalls around the banking system strong enough and soon enough to prevent it from spreading to other euro-zone countries.
Zambian opposition leader Michael Sata, a critic of Chinese investment, was sworn in as president on Friday after an upset poll victory that ushered in a smooth handover of power in Africa's biggest copper producer.
The execution of Georgia man Troy Davis in connection with the murder of an off-duty Savannah police officer 22 years ago has evoked protests in different parts of the world.
Global carbon dioxide (CO2) emissions have increased by 45 per cent in the past two decades and reached an all-time high in 2010, says a report.
Some canned foods marketed for children are found to contain estrogen-like chemical, Bisphenol A(BPA), according to a new report. A study by non-profit group, Breast Cancer Fund, found that 12 canned soups and pastas popular among children contained BPA, sparking off concern over the health effects of the chemical.
President Barack Obama will meet Palestinian President Mahmoud Abbas on Wednesday to urge him to drop plans to ask the U.N. Security Council to recognize a Palestinian state despite U.S. and Israeli objections.
Europe's debt crisis has increased the risk exposure of banks in the region by 300 billion euros ($410 billion) and they need to recapitalize to ensure they can weather potential losses, the International Monetary Fund said on Wednesday.
The Greek cabinet was expected to outline major public sector layoffs, more spending cuts and tax increases on Wednesday to secure a bailout installment crucial to avoid running out of money next month.
Britain's top share index slipped back on Wednesday, weighed down by concerns over Greece's ability to stave off a default, as investors focused on the possibility of further economic stimulus from the U.S. Federal Reserve.
President Barack Obama will meet Palestinian President Mahmoud Abbas Wednesday to urge him to drop plans to ask the U.N. Security Council to recognize a Palestinian state despite U.S. and Israeli objections.
Greece pledged to bring forward painful austerity measures on Tuesday, convincing international lenders to return to Athens early next week for talks that it hopes will secure the aid it needs to avert bankruptcy.
Zambians voted on Tuesday in a closely contested election between President Rupiah Banda and opposition leader Michael Sata, who has been a critic of foreign investment in Africa's biggest copper producer, most notably from China.
Sahin indicated that “it is highly likely the explosion was a terrorist attack.”
Standard & Poor's cut Italy's credit rating on Tuesday in a surprise move that increased strains on the debt-stressed euro zone and raised pressure on policymakers to take more decisive action to resolve the crisis.
Standard & Poor's cut its unsolicited ratings on Italy by one notch on Tuesday, a surprise move that sharply increases strains on the debt-stressed euro zone and piles pressure on policymakers to take more decisive action to resolve the crisis.
International lenders told Greece on Monday it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets.
