In a lengthy statement, the Vatican's Pontifical Council for Justice and Peace called for far-reaching reforms of the global economy to create a system that serves the common good of all nations and economic classes.
Adbusters, the left-leaning magazine that ignited the Occupy Wall Street protests, said the movement should get behind one solid demand -- a 1 percent Robin Hood tax on financial transactions and currency trades.
Disappointment out of Europe over the weekend ended the recent rally of U.S. stocks and other global risk assets.
U.S. stocks and global risk assets plunged on Monday as German officials dashed the heightened expectations of investors.
South Africa's rand fell more than 1.7 percent against the dollar on Monday, with dealers citing speculation of a cross-border deal between a local company and a Canadian firm as the driver.
European leaders are running out of time to prevent euro zone debt problems turning into a full-blown global crisis, Canadian Finance Minister Jim Flaherty said on Monday after Germany warned a breakthrough was unlikely at a summit this weekend.
A cloud of gloom hangs over Brussels ahead of yet another summit to thrash out yet another comprehensive strategy to tackle a sovereign debt crisis that Europe has failed for two years to stem, and that now threatens the world economy.
The chief public finance official of the world's largest economy said Sunday that he sees a ray of light in Europe's most recent effort to stop its sovereign debt crisis. U.S. Treasury Secretary Timothy Geithner, while attending a Group of Twenty (G20) meeting in Paris, said he is encouraged by the latest effort to address the crisis.
The Bank of Canada won't be trigger happy as it mulls what to do on interest rates, but has room to ease policy if it needs to kick start the economy, central bank Governor Mark Carney said.
Saudi Arabia's central bank is not interested in buying distressed or speculative assets such as troubled European debt and gold, and the OPEC member's banks are well-positioned to withstand the Eurozone crisis.
U.S. economic growth has gained some strength, but remains too slow, and it would benefit from passage of a package of job proposals that congressional Republicans have blocked, Treasury Secretary Timothy Geithner said Saturday.
Greece is not able to pay back its current debts even over the course of generations, according to Andreas Schmitz, president of BdB, a German bank lobbying group.
The Italian version of the Occupy Wall Street movement turned violent Satudary as protesters in Rome burned cars and smashed shop windows.
The world's leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs' meeting.
Finance ministers and central bankers from the world's top economies are set to back mandatory capital surcharges on big lenders of as much as 2.5 percent to be phased in beginning in 2016.
Europe and the G20 leading economies must act decisively and quickly to avoid another full-scale world recession, Prime Minister Stephen Harper warned on Thursday.
Gold was slightly higher on Friday and headed for its biggest weekly gain in more than a month, shrugging off the credit rating downgrade of Spain ahead of a G20 meeting whose agenda will be dominated by the euro zone debt crisis.
Gold prices held steady on Thursday, as optimism for a solution to the Eurozone crisis underpinned sentiment, while tight physical supply in Asia continued to lend support.
The leaders of Germany and France have promised to unveil new measures to solve the euro zone's debt crisis by the end of the month, as international pressure builds for bold steps from Europe to avert an economic backlash of global proportions. But they declined to reveal any details.
The euro rose to its highest in more than a week versus the dollar Monday, supported by a renewed German and French pledge to unveil a comprehensive plan by the end of the month to rescue the region from a sovereign debt crisis.
The leaders of Germany and France have promised to unveil new measures to solve the euro zone's debt crisis by the end of the month, as international pressure builds for bold steps from Europe to avert an economic backlash of global proportions.
European index futures rose on Monday, following small gains for Asian shares, and the euro firmed 1 cent after the leaders of France and Germany pledged to unveil a plan to solve the euro zone's sovereign debt crisis by the end of the month.
