Whereas previously we had heard extensive horror stories about banks being told to prepare for the end of the world in case the European summit (the latest and greatest one from last Friday which was supposed to find a cure for cancer among other things) failed, and even went so far as to read about preparations for trading in the drachma on a when issued basis, once the summit passed (and it was... 

Many experts believe that the sold out EU leaders’ failure to address the Block’s deepening financial recession may possibly end in collapse of an EU dream. In the meantime, professionals believe that the EU leaders’ failure to deal with the core issue, which, they say, is the endless rise of unrepeatable debt, is considered the same as, digging the hole still deeper, which may,... 

US Chairman of the Joint Chiefs of Staff General Martin Dempsey Chairman of the US Joint Chiefs of Staff General Martin Dempsey says the European Union faces potential breakup and civil unrest. “The eurozone is at great risk,” the top US officer told reporters on Friday, expressing doubt about the practicality of the measures taken by European leaders. Dempsey said it was not clear if the measures... 

A general view of Piazza Duomo during the FIOM CGIL and Students National Strike on January 28, 2011 in Milan, Italy. Italian trade unions have called for a strike to protest the recent government austerity measures aimed at resolving the eurozone debt crisis. Two of Italy’s three biggest trade unions said they would hold a two-hour strike on December 12, AFP reported on Monday The Cisl and Uil... 

Talks between Merkel and Cameron lay bare fundamental differences over plan for euro. An anti-British backlash gathered pace in Germany yesterday as David Cameron and Angela Merkel struggled to disguise the gulf between them on how to tackle the eurozone crisis. The Prime Minister returned from talks in Berlin with the German leader having made little progress in agreeing emergency action to stop... 

The German Christian Democratic Union (CDU) chaired by Angela Merkel urged to introduce changed in the Lisbon Treaty and other European agreements stipulating an opportunity for European countries to pull out from the eurozone. The countries would preserve their EU membership in such a move. Greece has a new government, but it has not led to any positive changes. The problem of the national debt crisis... 

Late night calls: Barack Obama made contact with several European leaders to demand faster action Barack Obama has read the riot act to the leaders of several European countries – saying more dramatic action is needed to avert a eurozone meltdown. The U.S. President made telephone calls to German Chancellor Angela Merkel, French President Nicolas Sarkozy and Italian President Giorgio Napolitano... 

European stock markets dropped sharply after Italian Premier Silvio Berlusconi confirmed he will step down after failing to win a confidence vote. The Italian stock market tumbled 3.7% with European stocks following the trend. UK’s FTSE 100 dropped 1.2 %, while Germany’s DAX was down 1.8%. The news from Rome appears to be another blow for the ailing euro which went down against other major currencies... 

Debt crisis sets markets in turmoil amid reports of talks about the break up of the eurozone. Reports that Germany and France have begun talks to break up the eurozone amid fears that Italy will be too big to rescue. Fears that Europe’s sovereign debt crisis was spiralling out of control have intensified as political chaos in Athens and Rome, and looming recession, created panic on world markets. Reports... 

Humiliating phone call: It has been revealed that Nicolas Sarkozy contacted Chinese leader Hu Jintao to ask for investment and backing of the European fund. Further embarrassment as one trillion euro bailout fund announced yesterday does not really exist. Europe is holding out the begging bowl to China in an effort to keep the rescue package for the single currency alive. In a clear sign of how the... 

European banks agreed early on Thursday to write off 50 per cent of Greek debt. The deal was reached during an emergency summit in Brussels overnight. The EU and the IMF will also give the country another one hundred billion euros in rescue loans. An agreement on expanding the bailout fund to one trillion euros followed immense pressure on EU leaders after multiple delays in anti-crisis action. Athens... 

Dollar exchange rate continues to rise, despite the enormous national debt and virtually pre-default state of the USA. Why? 
Mikhail Fedorov, analyst of “RIC-Finance”:
 “Today, because of the debt crisis the Eurozone and the U.S. became competitors in terms of their attractiveness to outside investment, and therefore their ability to fund their own public loans. In fact, they... 

Protesters throw projectiles at riot police in front of the Italian Parliament in Rome, September 15, 2011. Italian riot police have clashed with protesters rallying against the Italian parliament’s final approval for the government of Prime Minister Silvio Berlusconi’s recent austerity package. The violence erupted outside the parliament as lawmakers were on the austerity measures, AP... 

The “endgame” in the eurozone’s debt crisis is fast approaching, analysts declared yesterday, amid growing warnings from politicians and bankers that the reality of a Greek default and possible exit from the eurozone can be denied no longer. German chancellor Angela Merkel and French president Nicolas Sarkozy will hold a conference call with Greek premier George Papandreou today,... 

Beijing: Visitors have their photos taken at Tiananmen gate in Beijing on August 17, 2011. China has allowed its currency to hit a series of record highs against the USD over the past week in a move analysts say may signal a new strategy to combat the growing threat of inflation. With Italy second only to Greece in the Eurozone in terms of its debt-to-GDP ratio, the Italian government is eyeing China...